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Dow Jones plummets 800 points, renewing recession fears
NEW YORK: The Dow Jones Industrial Average plummeted more than 800 points on Wednesday, as investors suffered their worst day of the year as new concerns arose over data on global economic growth. The tumble followed a series of concerning
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India’s palm oil import hiked 18.3% last month
NEW DELHI: India imported 18.3% more palm oil in July 2019 compared with June 2019, according to the monthly data released by the industry group, Solvent Extractors’ Association of India (SEA) yesterday. It said the country’s palm oil imports rose
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Oil prices drop as data shows surprise climb in U.S. inventories
TOKYO: Oil prices fell on Wednesday after industry data showed U.S. crude inventories unexpectedly rose last week, erasing some gains from the last session that were stoked after Washington said it would delay tariffs on some Chinese goods. The move
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Hong Kong’s Cathay shares jump 7.4% at open after slump
HONG KONG: Shares in Cathay Pacific opened 7.4% higher on Wednesday in a relief rally after the Hong Kong airport reopened and the airline and its top shareholder condemned protests and vowed to follow China’s aviation regulations. The share price
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Singapore slashes GDP forecast to the range of 0% to 1%
SINGAPORE: Singapore slashed its full-year economic growth forecast on Tuesday as global conditions were seen worsening and data confirmed the slowest growth rate in a decade amid mounting fears of recession in the city-state. The government cut its forecast range
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KLCI loses 0.82% in line with regional markets drop
KUALA LUMPUR: The FBM KLCI lost 0.82% in early trade this morning, in tandem with the decline at regional markets. At 9.10am, the FBM KLCI fell 13.11 points to 1,601.94. The early decliners included Public Bank Bhd, Petronas Dagangan Bhd,
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Wall Street falls on geopolitical tensions, recession fears
NEW YORK: U.S. stocks dropped in a broad sell-off on Monday as simmering geopolitical tensions spooked equity investors and drove a bond market rally while the protracted U.S.-China trade war stoked fears of impending recession. All three major U.S. stock
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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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