In Brief – N.1 – November 30, 2014

Cold welcome and tense atmosphere for Russian President Vladimir Putin at the G20 summit in Brisbane, Australia. Enough for a rise rather than an easing in tensions…

The EU and Moldova approved a commercial and political association agreement as tensions with Russia are still very tense. The agreement will provide a free market access for both parties.

The downward pressure on oil prices will mount in the first quarter of 2015, wrote the International Energy Agency (IEA) in its latest monthly report.

Phenomenal: this is how the German minority native and new President of Romania Klaus Johannis described his surprise victory against the leftist candidate and polls’ favorite Victor Ponta.

Owning Viagra and two dozens of new products in late-stage of clinical testing, Allergan was acquired by Actavis for $66 billion. Pharmaceutical industry’s consolidation continues.

Approximately $10 billion or 59% of the $17.5 billion principal were recovered by Irving Picard, the trustee appointed by the US Department of Justice to handle the Bernard Madoff case.

The property prices in China recorded a second consecutive month of decline, highlighting the sharpest annual decline since 2011; as another warning about the general state of the global economy.

A new subprime-like crisis could emerge from Asia, as latest figures about China’s “bad loans” suggested. Although the total figure for state banks amount to roughly $124 billion, the total figure of the whole debt could actually be 7 to 10 times higher.

The French government has informed Russia that it has decided to delay sine die the delivery of the Mistral class military vessel “Vladivostok”. “We are going to patiently wait,” said Russian deputy defense minister Yury Brosiov.

China is advancing its interests in Asia. Manmade islets have been built in the South China Sea. Equipped with air runways, the islets look like still aircraft carriers on satellite photo.

Bull trend for Chinese stocks at last? The interest rate cut from the People’s Bank of China may confirm the bullish turnaround rally in the Shanghai Composite index.

US Defense Secretary (R) Chuck Hagel has resigned because of disagreement with President Barack Obama on combating EI-related strategy in Iraq.