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☆ The China-brokered Saudi-Iran deal has big repercussions for the Middle East — and the U.S.
▼ + stars: | 2023-03-15 | by ( Natasha Turak | ) www.cnbc.com time to read: +8 min

Taking up a specific role that the U.S. could not have fulfilled, this was Beijing's first foray into Middle East mediation, an area that for the past few decades was largely occupied by Washington. "I think China was a good partner to do this. I think they're the right people," he said, noting that China invests heavily in Saudi Arabia and is its top trading partner. Chinese President, Xi Jinping (L) is welcomed by Crown Prince of Saudi Arabia Mohammed bin Salman Al Saud (R) at the Palace of Yamamah in Riyadh, Saudi Arabia on December 8, 2022. And not just economically, as it already exports an immense amount of goods to the Middle East and is the largest importer of Saudi oil – but politically.

☆ Stocks are reversing course as inflation looks sticky with more retail earnings on deck
▼ + stars: | 2023-02-24 | by ( Jesse Pound | ) www.cnbc.com time to read: +5 min

The optimism about inflation and the U.S. economy is quickly waning on Wall Street, and the early 2023 rally for stocks is fading. The market was under pressure again on Friday after a hotter-than-expected reading for personal consumption expenditures, sending rates higher and stocks lower. Economic updates Next week brings a new round of economic indicators to see how the sticky inflation is affecting consumers and business. Other looks at the economy will come through key earnings reports. Speech by Fed Governor Christopher Waller Friday: 9:45 a.m. Markit Services PMI 10:00 a.m. ISM Services PMI 3:00 p.m.

☆ Argentina and Brazil are discussing plans for a common currency — analysts can scarcely believe it
▼ + stars: | 2023-01-24 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Argentina President Alberto Fernandez (R) and Brazil President Luiz Inacio Lula da Silva (L) greet each other after signing a series of agreements during a news conference in Buenos Aires. Argentina and Brazil, the two largest economies in South America, are in early talks to create a common currency, as part of a coordinated bid to reduce reliance on the U.S. dollar. Speaking on his first international visit since taking office, Lula said that the currency would initially be designed for trade and transactions between Brazil and Argentina. Brazil's Finance Minister Fernando Haddad said that the adoption of a common currency was not designed to replace the Brazilian real and the Argentine peso. "Developing and implementing a common South American currency is, therefore, pie in the sky."

REUTERS/Adriano MachadoSAO PAULO/LONDON, Jan 9 (Reuters) - Brazilian equities were higher in choppy trade on Monday, a day after thousands of supporters of former President Jair Bolsonaro stormed government buildings in the capital, echoing the Jan. 6, 2021, insurrection in Washington. On Friday, both had performed better after Lula said the economy may grow while government finances are kept in check. On Monday hundreds of Brazilian police in riot gear and some on horseback amassed at an encampment of Bolsonaro supporters near Brasilia's army headquarters. "I think the situation will quickly normalize," said Cristian Maggio, head of portfolio strategy at TD Securities in London. "Yet, it is an event worth keeping an eye on, as it may not be fully over just yet."

☆ Lula’s response to attack on Brazil's Congress will be crucial, political analyst says
▼ + stars: | 2023-01-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLula’s response to attack on Brazil's Congress will be crucial, political analyst saysJimena Blanco, head of Americas at Verisk Maplecroft, discusses the ramifications of Sunday’s riots on prominent government buildings in Brazil’s capital.

☆ Fed hikes and a stronger dollar are fueling risks of political instability in Africa
▼ + stars: | 2022-12-01 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

ACCRA, GHANA - NOVEMBER 05: Ghanaians march during the 'Ku Me Preko' demonstration on November 5, 2022, in Accra, Ghana. "Exposure to international interest rate changes is exacerbated by the large proportion of African public debt that is held in dollars." watch now"High public debt levels and elevated borrowing costs will constrain public spending, which will likely result in a deteriorating ESG and political risk landscape across the continent," Hunter added. Spotlight on Ghana Hunter pointed to Ghana as among the most affected by this negative feedback loop between a deepening public debt burden, a constrained fiscal position and a deteriorating ESG and political landscape. ACCRA, GHANA - NOVEMBER 05: Ghanaians march during the 'Ku Me Preko' demonstration on November 5, 2022, in Accra, Ghana.

☆ South Africa's economy at a pivotal point as outlook improves but political, energy risks remain
▼ + stars: | 2022-11-29 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

South Africa's long-awaited economic reforms have begun to improve the country's outlook, but the age-old problems of political uncertainty and a failing power system still pose significant risks. But deep divisions within the ruling African National Congress (ANC) and his own cabinet have made for sluggish progress. However, political frailties and persistent issues at a state-owned utility continue to pose present economic risks. Montana said that in order to secure sustained economic growth, the South African government will need to prioritize energy sustainability. "Energy will require financial assistance from international players, but they will also need to ensure that it doesn't have a negative impact on South African society," he said.

☆ Economic recovery in South Africa exposed to civil unrest, Verisk Maplecroft analyst says
▼ + stars: | 2022-11-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEconomic recovery in South Africa exposed to civil unrest, Verisk Maplecroft analyst saysAleix Montana from Verisk Maplecroft discusses the latest on South Africa, a country facing inflation, corruption accusations and electricity cuts.

☆ Equatorial Guinea: World's longest-ruling leader looks set to secure new term after 43 years in power
▼ + stars: | 2022-11-21 | by ( Story Reuters | ) edition.cnn.com time to read: +3 min

CNN —Preliminary election results released by Equatorial Guinea’s government on Monday showed the ruling party winning over 99% of votes counted so far in presidential, legislative, and municipal elections held on Sunday. The tiny, authoritarian, oil-producing Central African state is run by President Teodoro Obiang, the world’s longest-ruling head of state, who is seeking to extend his 43 years in office. Early, partial results showed Obiang’s ruling Democratic Party of Equatorial Guinea (PDGE) and coalition with 67,012 votes out of 67,196 counted so far. “It is a total fraud,” Esono Ondo told Reuters by phone, saying his party would challenge the result in court. Government and officials of Equatorial Guinea’s election directorate could not be reached for comment.

☆ World's longest-standing president seeks to extend 43-year rule
▼ + stars: | 2022-11-20 | by ( ) www.reuters.com time to read: +2 min

DAKAR, Nov 20 (Reuters) - Equatorial Guinea votes on Sunday in a general election in which President Teodoro Obiang Nguema, the world's longest-standing president, is expected to extend his 43-year rule at the helm of the tiny oil-producing West African nation. Voters will also cast ballots to elect 100 members of parliament for the lower house, 55 of the country's 70 senators, and local mayors. "The presidential election is completely devoid of suspense," said Maja Bovcon, a senior Africa analyst at risk intelligence company Verisk Maplecroft. "The closure of the borders and the harassment and arrests of opposition supporters have been paving the way for the extension of Obiang's 43-year rule," she said. Reporting by Bate Felix; Editing by Cooper Inveen and Frances KerryOur Standards: The Thomson Reuters Trust Principles.

☆ Iran blamed for a drone attack on an Israel-linked oil tanker off the coast of Oman
▼ + stars: | 2022-11-16 | by ( Bethany Dawson | ) www.businessinsider.com time to read: +2 min

A drone armed with a bomb hit an oil tanker off the coast of Oman on Tuesday evening. An Israeli government official has said that they believe Iran is responsible for the strike. The company said there had been "minor damage to the vessel's hull," but there was no "spillage of cargo," referring to the gas oil the tanker was carrying. However, no one has claimed responsibility for the Oman drone attack. Due to tensions between Iran and Israel, Tehran's possible involvement in the attack is suspected.

☆ Insurer AIG profit slumps on hurricane costs, lower investment returns
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +2 min

Nov 1 (Reuters) - Insurer American International Group Inc (AIG.N) on Tuesday reported a more than 39% decline in quarterly profit as investment income fell by more than $1 billion and losses from Hurricane Ian pushed up catastrophe bills. read moreAIG - one of the world's biggest commercial insurers - reported $600 million of catastrophe losses in the quarter, out of which about $450 million was attributable to Hurricane Ian, the insurer said. Total consolidated net investment income fell 28% to $2.7 billion, hurt mainly by lower alternative investment income. The metric excludes catastrophe losses, and a ratio below 100 signifies that the insurer earns more from premiums than it pays out in claims. read moreReporting by Noor Zainab Hussain in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ Verisk Nears Deal to Sell Energy-Analytics Unit
▼ + stars: | 2022-10-31 | by ( Lauren Thomas | ) www.wsj.com time to read: 1 min

A deal to sell Wood Mackenzie will allow Verisk Analytics to focus exclusively on insurance. Verisk Analytics Inc. has struck a deal to sell its energy-consulting arm, Wood Mackenzie, to private-equity firm Veritas Capital in a transaction valued at $3.1 billion or more. The transaction, expected to be unveiled later Monday, comes after the company kicked off a strategic review in 2021, Chief Executive Lee Shavel told The Wall Street Journal. Veritas could pay up to an additional $200 million depending on how well it does on the investment, he said.

☆ Verisk to Sell Energy-Analytics Unit in $3.1 Billion Deal
▼ + stars: | 2022-10-31 | by ( Lauren Thomas | ) www.wsj.com time to read: 1 min

The deal to sell Wood Mackenzie follows moves to have Verisk Analytics commit to becoming a purely insurance business. Verisk Analytics Inc. has struck a deal to sell its energy-consulting arm, Wood Mackenzie, to private-equity firm Veritas Capital in a transaction valued at $3.1 billion or more. The transaction, unveiled Monday, comes after the company kicked off a strategic review in 2021, Chief Executive Lee Shavel told The Wall Street Journal. Veritas could pay up to an additional $200 million depending on how well it does on the investment, he said. The Journal earlier reported news of the deal.

☆ Insurer Travelers profit falls on hurricane costs, lower investment returns
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +2 min

A U.S. flag is seen in a flooded rural area after Hurricane Ian caused widespread destruction in Arcadia, Florida, U.S., October 4, 2022. REUTERS/Marco BelloOct 19 (Reuters) - Property and casualty insurer Travelers Companies Inc (TRV.N) reported a 20% fall in quarterly profit on Wednesday, hurt by hurricane-related claims and lower returns on its investments. Insurers are bracing for a hit of up to $57 billion from Hurricane Ian in Florida and South Carolina, risk modeling firm Verisk said earlier this month. The insurance industry also faces hefty claims from the Ukraine crisis and greater uncertainty brought on by higher claims costs from inflation. Pretax net investment income dropped 23% to $593 million, Travelers said.

☆ Biden threatens 'consequences' for Saudi Arabia after OPEC cut, but his options are limited
▼ + stars: | 2022-10-12 | by ( Natasha Turak | ) www.cnbc.com time to read: +5 min

Washington has since the 1940s provided billions of dollars in military and security aid to Saudi Arabia. A file photo of cannisters containing Patriot missiles to intercept missiles fired at Saudi Arabia or its neighboring countries. We must pull all US troops out of Saudi Arabia, stop selling them weapons & end its price-fixing oil cartel." "The White House has few good options despite Biden's warning of 'consequences' after the cut," he said, noting U.S. lawmakers' threats of anti-trust legislation and removal of U.S. military assets from Saudi Arabia. While both courses of action would send a clear message, this could backfire for both the U.S. and for crude prices.

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