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1. Two-thirds of Canadian business owners negatively impacted by
COVID-19
MOSCOW (MRC) -- Two-thirds (68%) of Canadian business owners
continue to feel the negative impacts of COVID-19, a new study from CIBC finds,
with more than half (57%) believing businesses in their area are in crisis mode
and 43% believing businesses are in recovery mode, said Canplastics. According
to the study, top concerns are a reduced demand for their products and services
(37%) and worries about the overall viability of operations (23%). Despite this,
the majority (75%) of business owners remain optimistic they will rebound once
the pandemic subsides.
http://www.mrcplast.com/news-news_open-380076.html
2.
EU chemical production shows signs of recovery, COVID-19 second wave threatens
another slowdown
MOSCOW (MRC) -- Production of chemicals in the EU showed
signs of recovery in the third quarter of 2020 with a significant sequential
increase of 6.1% compared with an 8.7% sequential decline in the second quarter,
according to Chemweek with reference to Cefic�s latest quarterly report. In the
first nine months of the year, EU chemical production dropped 4.4% year on year
(YOY), due mainly to the COVID-19 outbreak in Europe, the report says. Overall
EU manufacturing output fell sharply, by 10.6% YOY, with automotive output
losing more than 28%, Cefic says.
http://www.mrcplast.com/news-news_open-380069.html
3.
Packaging supplier Cascades to close its Laval, Quebec plant
MOSCOW (MRC)
-- Citing in part the effects of the COVID-19 pandemic on the marketplace,
Quebec-based packaging supplier Cascades Inc. has announced that its Laval
plant, which specializes in the manufacture of napkins for the away-from-home
market, will be closing on June 30, 2021, said Canplastics. In a Nov. 25
statement, officials with Cascade said the Laval plant, which has an annual
converting capacity of 1.4 million cases, will move its production volume to
other Cascades plants and filled by additional capacity. The plant currently
employs 54 workers, and Cascades plans to offer to relocate as many employees as
possible to its many other business units in Quebec.
http://www.mrcplast.com/news-news_open-380078.html
4.
Global oil and gas contract activity report marginal increase during Q3
2020
MOSCOW (MRC) -- The global oil and gas industry has witnessed a
marginal increase in the number of oil and gas contracts from 1,104 in Q2 2020
to 1,136 in Q3 2020, said Hydrocarbonprocessing. This is in spite of challenges
such as crude oil process and the COVID-19 outbreak, says GlobalData, a leading
data and analytics company. The industry recorded contract value of USD14.16B in
Q3 2020, as compared to the previous quarter that reported USD32.51B in value.
Primarily this difference was due to a high value USD19.21B contract agreement
reported by Qatar Petroleum in Q2 2020.
http://www.mrcplast.com/news-news_open-380083.html
5.
S&P Global agrees to buy IHS Markit for USD44 billion.
MOSCOW (MRC)
-- S&P Global, the owner of stock indexes like the Dow and the S&P 500,
said on Monday that it plans to acquire IHS Markit for USD44 billion, including
debt, reported The New York Times. The transaction would create a financial
information powerhouse at a time when data increasingly fuels automated trading.
The all-stock deal - the biggest announced so far this year - would give S&P
Global control of IHS Markit, whose software is used by many of the world�s
biggest financial institutions. It is the latest show of strength by big
companies amid the pandemic. Corporate boards have increasingly come to believe
that getting bigger will help them ride out the turbulence caused by the
coronavirus, while investors have encouraged companies to use stocks and cheap
debt to buy growth.
http://www.mrcplast.com/news-news_open-380147.html
6.
Indian refiner October oil processing highest since March
MOSCOW (MRC) --
Crude oil processed by Indian refiners rose to its highest in seven months in
October as fuel demand picked up although throughput remained lower than a year
earlier, hurt by the coronavirus pandemic�s impact on industrial and transport
activity, said Hydrocarbonprocessing. Crude oil throughput in October dropped
16.1% from a year earlier to 4.35 million bpd (18.39 million tons), but was the
highest since March when the country went into a nationwide lockdown,
provisional data issued by the government showed on Wednesday. Pointing to a
recovery in economic activity, India�s fuel consumption registered its first
year-on-year increase since February last month, data showed earlier.
http://www.mrcplast.com/news-news_open-379988.html
7.
Petronas warns of challenging fourth quarter amid volatile oil
prices
MOSCOW (MRC) -- Malaysian state-owned energy giant Petronas warned
on Friday that the remainder of the year would remain tough due to prolonged low
oil prices and moderate demand recovery hampered by the coronavirus, as it
recorded a third-quarter loss, reported Reuters. �Amid the fluid operating
environment brought about by the pandemic as well as prolonged volatility of oil
prices, Petronas is adopting a cautious outlook and anticipates that the
remainder of 2020 will be challenging,� said Tengku Muhammad Taufik, president
and group chief executive officer.
http://www.mrcplast.com/news-news_open-380073.html
8.
Crude oil futures struggle as near-term pandemic considerations
weigh
MOSCOW (MRC) -- The trajectories of the ICE Brent futures and NYMEX
crude futures were in opposite directions during the mid-morning trade in Asia
Nov. 27, as the latter underwent a price correction, not having fallen as much
as the former during the trading session on Nov. 26, with both markers further
weighed down by heightened concerns over the pandemic situation in the US,
reported S&P Global. At 11:36 am Singapore time (0336 GMT), ICE Brent
January contract was up 10 cents/b (0.21%) from the Nov. 26 settle at
USD47.90/b, while the NYMEX January light sweet crude contract was down 70
cents/b (1.53%) at US45.01/b.
http://www.mrcplast.com/news-news_open-380152.html |
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