China starts virtual currency trials to modernise payment systems
For the uninitiated, the digital currency is not a cryptocurrency like bitcoin
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Pemex issues $1.5-billion bond to raise funds for debt refinancing
The oil major produced an average of 1.692 million bpd of crude oil this year
Trinity Energy plans to establish $500 mn refinery
The refinery is expected to be operational within two to three years
Samba, NCB to create Saudi’s $220 billion mega-bank
The merger is a part of the Kingdom’s Vision 2030 strategy
Indonesia to create $5 bn sovereign wealth fund
The sovereign wealth fund will be called Investment Authority Indonesia
China invests billions of dollars in new mega-refineries amid a volatile oil market
The mainland has already added 1 million barrels since the start of 2019
African Nations urge UN to float 2020 climate action plans
Nations that signed the Paris agreement have vowed to float updated plans this year
EBRD grants $250mn loan to Alexandria Petroleum for new developments
The project expects to boost the company’s efficiency and cut down carbon emissions such as greenhouse gas
Hong Kong’s logistics unicorn Lalamove forays into the US market
Lalamove ranks among the top unicorns in Hong Kong which have touched the $1 billion unicorn valuation mark
China invests billions of dollars in new mega-refineries amid a volatile oil market
The mainland has already added 1 million barrels since the start of 2019