The world’s largest sovereign wealth fund posted its biggest loss in four years, dragged down by Chinese stocks and Volkswagen AG, just as the Norwegian government prepares to make its first ever withdrawals to plug budget deficits. The $860 billion fund lost $32 billion in the third quarter. Source: Bloomberg
The natural gas market is emerging from winter relatively unscathed despite potentially disruptive Chinese tariffs on U.S. gas. But the ongoing trade dispute is still putting a chill on cooperation between the two energy powerhouses and threatens to sideline billions in investment. Source: CNBC
Earlier on Friday, the crown prince met Vice Premier Han Zheng where the two sides agreed to expand cooperation on both China’s grand one-trillion-dollar infrastructure programme, the Belt and Road Initiative (BRI) and on Saudi Vision 2030, an effort by Riyadh to diversify the economy beyond oil and grow modern service and hi-tech industries. Source: Aljazeera
The European and global economic environment has become more threatening for France in recent months, with the recession in Italy a particularly serious concern, the French finance minister said. Source Bloomberg
