News Oil 

US oil and gas firms are ready to spend as confidence grows, survey says

“Executives in the U.S. oil and gas industry are said to be much more optimistic about growth in the sector, compared to last year” writes unknown author for cnbc.com. In its annual study, DNV GL, claimed that 85 percent of American executives questioned believed there were reasons to expect an increase in drilling in 2019. U.S. oil and gas executives appeared to be more bullish than the global average of positive voices which DNV GL recorded at 76 percent. Source: cnbc.com

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News 

China’s fourth quarter GDP growth dented by services, agriculture despite construction rebound

“BEIJING (Reuters) – Weakness in the service and farm sectors slowed China’s economic growth in the fourth quarter, despite a strong pickup in construction activity, official data showed on Tuesday” writes Midwest Communications Inc for 95kqds.com. The sector – accounting for 8 percent of the economy – grew 6.1 percent in the fourth quarter, accelerating from the previous quarter’s 2.5 percent growth.The retail and wholesale sector slowed to 5.5 percent from 6.2 percent as consumption of physical goods lost momentum.Real estate growth slowed to 2 percent year-on-year in the fourth…

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News 

Technology sector growth grows at its slowest rate for three years, says KPMG

“While business activity growth has slowed in the technology sector in recent months, investment in the sector has remained strong” writes James Titcomb for telegraph.co.uk. KPMG’s report also revealed that operating expenses continue to rise sharply at UK technology businesses, although expenses did not rise as highly as the increase seen in 2017.Business growth in the UK technology sector fell to its weakest level in three years at the end of 2018, according to a new survey conducted by accountancy firm KPMG. KPMG’s latest UK Tech Monitor report found that…

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News 

MCIT to boost sector’s participation of GDP to beyond 5% in three years

“Talaat said that his ministry is implementing the MCIT strategy over the next three years that stands on two main pillars which are human development and digital transformation” writes Hagar Omran for dailynewsegypt.com. Furthermore, Talaat noted that his ministry, in collaboration with the ministry of higher education, will launch the first artificial intelligence technology faculty, during the next academic year.For his part, the AmCham President, Tarek Tawfik, affirmed the role of the ICT sector in boosting the Egyptian economy especially that the Egyptian government implements firm digitalisation and transformation plans…

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News 

Asia’s richest man to take on Amazon boss Jeff Bezos in India’s booming e-commerce sector

“It currently owns over 13m square feet of retail space, though a new wave of online retail in India is taking the company into new territory” writes Hasan Chowdhury for telegraph.co.uk. The trio of Reliance Industries’ businesses will combine to bring Indian merchants online.The e-commerce plans from the businessman will involve the combination of his mobile network operator Jio, which has 280m subscribers, with his additional mobile phone and physical retail ventures.Reliance Industries, the Mumbai-headquartered conglomerate owned by Mr Ambani, is drawing up plans to roll out its online shopping…

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Crypto News 

South Africa Wants to Regulate Crypto, Mandates Registration

“The paper was jointly developed by multiple major South African agencies including Financial Intelligence Centre (FIC), Financial Sector Conduct Authority (FSCA), National Treasury (NT), South African Revenue Service (SARS), and the SARB, the central bank of South Africa” writes Arnab Shome for financemagnates.com. The central bank, however, made it clear that it does not consider digital assets as legal tender.Despite the lack of proper infrastructure, African crypto adoption is booming.The central bank is cautious in imposing regulatory rules on the sector as it believes that any mistakes will lead to…

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Markets News 

Separating Yourself From the Pack in a Mature FX Industry

“My experience mainly comes from the banking sector, having worked in the Liquidity & Market Risk Management department of major banks” reports financemagnates.com. In a nutshell, INFLYX is a liquidity, risk management and white label solutions provider connected to Tier 1 liquidity.INFLYX’s main liquidity offering comes with a dedication and commitment of detailed reporting and client-oriented services.Apart from liquidity, INFLYX takes pride in its tailored-made risk management solutions and its ability to manage and handle clients’ dealing desks.A few days ago, Finance Magnates interviewed Marios Antoniou, the Executive Director and…

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News 

Over $924m of state-owned shares divested since last March

“TEHRAN- Iranian Privatization Organization (IPO) has offered 38.826 trillion rials (about $924.4 million) of state-run shares to the private sector since the beginning of the present Iranian calendar year 1397 (March 21, 2018), IRNA reported” reports tehrantimes.com. On January 1, Mohammadreza Pour-Ebrahimi, the chairman of the Parliament Economic Committee, told IRNA that the national budget bill for the next Iranian calendar year 1398, which starts on March 21, 2019, has envisaged transferring 50 trillion rials (about $1.19 billion) worth of state-run shares to the private sector.As previously reported, in its…

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News Stocks 

In this bull market, Information Technology stocks have performed best during Q4 earnings seasons

“Over the past decade, the composite S&P Financials Sector has been the worst-performing of the major market sectors, straight through from the beginning to the end of fourth quarter earnings season” writes Benjamin Berna for cnbc.com. Defensive sectors like Healthcare and Consumer Staples are top-performers at the beginning of the season. Source: cnbc.com

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