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Trading Ideas

Saudi Aramco Props Up Slumping Middle East Energy Debt Market

(Bloomberg) — Gulf Arab energy companies took on marginally more total debt in 2019 compared with the previous year, but the increase was skewed by a surge in borrowing by Saudi Aramco and its refining joint venture.Excluding new Saudi loans and bonds of $15.6 billion, energy-company debt in the oil-rich region tumbled by two-thirds, according to data compiled by Bloomberg.Lending was particularly sluggish in the second half of 2019, when these companies borrowed just $5.5 billion — the lowest level in three years. Aramco’s majority-owned Satorp refinery venture alone accounted for $3.6 billion of all second-half debt.Energy companies in the …read more […]

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Trading Ideas

Mercedes-Benz poised to clinch premium sales crown for 2019

Daimler sold 2.34 million Mercedes-Benz passenger cars in 2019 for a ninth consecutive year of record sales, it said on Thursday, putting the German carmaker in pole position to retain the title of biggest-selling premium car brand. Stuttgart-based Daimler claimed it had retained the title of best-selling luxury car brand. As a carmaking group, BMW sold 2.52 million vehicles last year to beat Daimler’s 2.46 million Mercedes-Benz and Smart vehicles over the same period. …read more […]

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Business News

Exclusive: India reviewing anti-trust complaint against Maruti Suzuki over car insurance – sources

India’s antitrust regulator is looking into allegations that Maruti Suzuki , the country’s biggest car maker, pushes buyers to purchase insurance policies offered by the company, two sources with direct knowledge of the matter told Reuters.

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