Global Economy

12:23 AM Jadwa forecasts oil to average $68 pb in 2018
In May Brent crude reached its highest level near $80 per barrel
21 July 05:37 PM Khamenei backs Rouhani's threats
Rouhani previously said that if Iran’s oil is not exported, no regional country’s oil will be exported
21 July 02:19 AM Gold prices decline for 2nd week in row
Trade war concerns helped increase demand for the yellow metal as a safe haven
21 July 02:16 AM Oil down for 3rd straight week
Oil rigs in the United States registered its biggest weekly decline since March
21 July 12:25 AM Sawiris, Edens to invest in struggling Aston Villa
Nassef Sawiris is estimated to have a net worth of $6.8bn
20 July 06:50 PM 14 injured in knife attack in Germany
At least 14 people have been reportedly wounded, with two critically injured, in a knife attack on a bus in Germany, without fatalities.
20 July 06:15 PM Trump’s China tariffs could cost GE $400m – CEO
General Electric expects that the new duties on Chinese imports could increase its costs to a range from $300 million to $400 million.
20 July 05:55 PM Trump threatens tariffs on all $500bn Chinese imports
US President Donald Trump said that he is ready to levy tariffs on the total of $500 billion of imports from China.
20 July 05:21 PM Trump slams EU, China currency manipulation, criticises Fed interest hikes
US President Donald Trump on Friday ratcheted up his criticism of global monetary policy as well as the Federal Reserve (Fed) via Twitter.
20 July 04:43 PM GE profits decline in Q2 on weak power unit
General Electric reported on Friday that its earnings dropped 34% to $669 million in the second quarter of 2018.
20 July 03:45 PM 13 dead, 7 injured as Missouri storm sinks ‘duck boats’
At least 13 people, including children were killed and seven others were injured in Missouri, after a boat carrying tourists capsized during a thunderstorm.
20 July 03:00 PM US adviser blames China for stalling trade talks
White House adviser Larry Kudlow reiterated his blame to Chinese President Xi Jinping for the lack of progress in the US-China trade discussions
20 July 02:32 PM Trump invites Putin to Washington despite Helsinki summit criticism
US President Donald Trump extended an invitation to his Russian counterpart Vladimir Putin to visit Washington this autumn, while the trip is being discussed.
20 July 01:52 PM Microsoft quarterly profits rise 10% on Azure cloud business
Mubasher: Microsoft reported that its net income increased 10% year-on-year to $8.9 billion in its fourth quarter ended June 2018 from $8.1 billion.
20 July 12:37 PM Japan inflation inches up in June ahead of BOJ report
Japan's inflation gained momentum last June for the first time since four months, official data said on Friday.
20 July 12:19 PM UK public borrowing hits 11-yr low in Q2
The UK public sector net borrowing, excluding public banks, fell GBP 5.4 billion to GBP 16.8 billion ($21.9 billion) in the second quarter of 2018.
20 July 11:27 AM Eurozone current account surplus extends fall in May
The Eurozone’s current account surplus recorded a further decline last May, but it recorded a gain on a 12-month basis.
20 July 11:01 AM Oil rises, heads for weekly drop on surplus, demand concerns
Oil prices edged up on early Friday, but they were heading expectedly towards a weekly loss on worries about oversupply and waning demand.
20 July 01:56 AM Brent down 0.4%, Nymex rises for 3rd day in row
Nymex futures rose by 1.02% to settle at the level of $69.46 per barrel
20 July 01:33 AM Gold narrows losses after Trump's remarks
Donald Trump publicly expressed his dissatisfaction with the Fed’s policy of raising interest rates
19 July 07:08 PM Russian economy slows to 1.1% in June
Russia’s gross domestic product rose 1.1% in June in yearly terms in June, after growing 2.2% in the previous month, official data showed on Thursday.
19 July 06:59 PM Philip Morris logs $2.20bn profit in Q1
Philip Morris International Inc. on Thursday reported a profit rise for the three-month period ended 30 June 2018.
19 July 06:55 PM Global oil market seen erratic over coming months - analysts
Changes in the oil market would probably grow unpredictable in the coming months, analysts said.
19 July 05:37 PM US natural gas supplies rise; prices fall
The EIA reported that the country’s natural gas storage rose by 46 billion cubic feet (Bcf) the week ended 13 July, totalling 2,249 Bcf.
19 July 05:26 PM Volvo profit climbs 39.8% in Q2
Mubasher: Sweden's Volvo Car Group on Thursday reported a 39.8% year-on-year jump in its net income in the second quarter of 2018.