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Dark global economic outlook despite trade war
BERLIN: The economic outlook has deteriorated in all parts of the world over the summer due to an escalating trade dispute between the United States and China, a survey showed. Germany’s Ifo economic institute said its quarterly survey among nearly
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US – China trade war leading to recession fear
NEW YORK: Goldman Sachs Group Inc said on Sunday that fears of the U.S.-China trade war leading to a recession are increasing and that Goldman no longer expects a trade deal between the world’s two largest economies before the 2020
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Syed Mokhtar’s son raises stake in Media Prima
KUALA LUMPUR: Syed Danial Syed Mokhtar Shah, the son of business tycoon Syed Mokhtar has raised his stakes in the media company Media Prima Berhad via Aurora Mulia Sdn Bhd. Aurora Mulia now controls 20.56% stakes in Media Prima after
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KLCI back on the rise
KUALA LUMPUR: FBM KLCI reversed its earlier and climbed at mid-morning, tracking regional markets, lifted by select blue chips. At 10am, the FBM KLCI was up 1.29 points to 1,617.31. The index had earlier slipped to a low of 1,613.27.
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Oil prices rise, more OPEC output cuts expected
SEOUL: Oil prices rose on Friday, supported by expectations of more production cuts by OPEC amid fears the US-China trade row could lead to a global slowdown, curbing demand for crude. International benchmark Brent crude futures, were at $57.61 a
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Australia economy may be at turning point, rates to stay low
CANBERRA: Australia’s economic slowdown may have ended but interest rates will remain at historic lows for an extended period, with the U.S.-China trade war the major uncertainty for the global economy, the central bank head said. The Reserve Bank of
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Ringgit opens lower
KUALA LUMPUR: The ringgit opened slightly lower against the US dollar after a mild rebound yesterday amid heightened external risk, particularly the escalation of US-China trade war. At 9.05 am, the ringgit stood at 4.1870/1920 from Wednesday’s close of 4.1860/1920.
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Asia stocks paralyzed, bonds electrified by recession risk
SYDNEY: Asian shares braced for more volatility on Thursday as eye-catching easings by central banks stoked fears of global recession, driving U.S. yields to near-record lows and lifting gold past $1,500 for the first time since 2013. Spot gold XAU
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Malaysia’s international reserves up at US$103.9b
KUALA LUMPUR: Malaysia’s gross international reserves rose to US$103.9 billion as at July 31, from US$103.3 billion on July 15, the central bank said on Wednesday. The reserves were sufficient to finance 7.6 months of retained imports, and were 1.2
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New Zealand’s central bank stuns markets with 50-bp rate cut
WELLINGTON: The Reserve Bank of New Zealand (RBNZ) stunned markets today by cutting the official cash rate (OCR) by a bigger-than-expected 50 basis points to 1.00%, as it looks to prop-up a cooling economy in the face of intensifying global
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