1.Saudi Arabia has executed a prominent Shi’ite Muslim cleric, spurring regional anger, sparking geopolitical tensions, and sending markets into tailspin:
Asian markets are diving, with Japan’s Nikkei and the Hong Kong Hang Seng down 3%.
2.A rise in Iran’s crude oil exports once sanctions are lifted depends on future global oil demand and should not further weaken oil prices, a senior Iranian oil official is quoted as saying:
Oil prices are likely to come under further pressure this year, when international sanctions on Iran are removed under a nuclear deal reached in July.
3.Hard Times For ”BRIC” (Brazil, Russia, India, and China) Countries in 2016:
The year-end thought of Brian Kelly, founder of Brian Kelly Capital, a Connecticut-based investment firm.In particular, look at how much the Ruble, Rupee, and Real have depreciated while the RMB has just begun its depreciation. This means there is a lot more volatility to come in 2016,” said Kelly.
4. Samsung to expect difficult times in 2016,C.E.O:
Samsung says it expects a difficult business environment in 2016 due to weak global economic conditions and heightened competition in key businesses including memory chips and smartphones.Chief Executive Kwon Oh-hyun told employees in a New Year’s address
5.Trading on China’s Shanghai and Shenzhen stock markets was postponed for the day on Monday after shares dropped:
Trading on China’s Shanghai and Shenzhen stock markets was halted for the day on Monday after shares fell 7%.
6.Europe Stocks Drop as Traders Return to Market Amid China Rout:
European stocks fell after a rout in Chinese equities rekindled concern that the nation’s economic slowdown will hamper the global recovery.
7.Tanzania Plans to List half of it’s Power Utility This Year:
Tanzania’s government plans to sell shares in the state-owned power utility to the public this year and split it into separate generation, transmission and distribution units. It will also invest $1.2 billion in the company over 10 years, boosting efforts to increase electricity production to 10,000 megawatts by 2025 from 1,400 megawatts.Energy and Mining Minister Sospeter Muhongo said.
