Global Reports

16 August 05:40 PM OPEC downgrades oil demand outlook, predicts 2020 glut

Mubasher: The Organization of the Petroleum Exporting Countries on Friday cut its outlook for global oil demand for the rest of the year.

Global Reports

16 August 05:13 PM US consumer confidence hits 2019 low in early August

Mubasher: US consumer sentiment recorded he worst reading so far this year during the first half of August.

Global Markets brief

16 August 04:40 PM OPEC crude output drops in July

Mubasher: Declines mostly came from Saudi Arabia, Iran, Libya and Venezuela.

Global Markets brief

16 August 03:52 PM Hong Kong economy shrinks in Q2 on political turmoil

Mubasher: Hong Kong is on the brink of its first recession since a decade.

Global Markets brief

16 August 03:45 PM US private housing starts plunge in June

Mubasher: Privately-owned housing starts came in at a seasonally adjusted annual rate of 1.191 million starts last July.

Global Reports

16 August 02:59 PM Euro hits 2-week trough as dollar advances

Mubasher: The euro on Friday dropped against the dollar, hovering below a two-week low, Reuters reported.

Global Reports

16 August 02:32 PM London’s FTSE 100 opens higher after delay on ‘technical problems’

Mubasher: London Stock Exchange on Friday postponed open of Financial Times Stock Exchange 100 (FTSE 100) index and FTSe 250.

Global Markets brief

16 August 01:01 PM Eurozone trade surplus shrinks in June

Mubasher: Initial estimates suggested that the Eurozone trade balance posted a surplus of EUR 20.6 billion in June, down year-on-year from EUR 22.6 billion.

Global Reports

16 August 12:43 PM World’s banks announced plans to axe 48,000 jobs in 2019

Mubasher: Banks across the world have laid off more than 48,500 employees this year as the economic outlook dimmed, according to Bloomberg.

Global Markets brief

16 August 11:26 AM Gold to post 3rd weekly gain on trade, growth fears

Mubasher: Gold prices fell on Friday, but they were on course to record their third weekly gain in a row, as safe-haven demand remained supported.

Goods and Metals

16 August 10:24 AM Oil jumps on retreating recession worries

Mubasher: Oil futures rose on Friday, gaining support from easing worries about an economic recession in the world’s biggest crude consumer.

Oil and Energy

15 August 11:09 PM Swiss-Belhotel International to expand in Vietnam

Mubasher: Swiss-Belhotel International has unveiled plans to expand in Vietnam and add at least 10 hotels and resorts to its Vietnamese portfolio.

Global Reports

15 August 07:41 PM China vows again to take measures against US levies

Mubasher: China renewed its vow to retaliate against US tariffs, which are due to be implemented in the upcoming weeks.

Global Reports

15 August 07:14 PM UPS acquires minority stake in autonomous driving startup

Mubasher: United Parcel Service is jumping into autonomous vehicle world, with its venture capital arm UPS Ventures buying a minority stake in TuSimple.

Global Markets brief

15 August 05:49 PM US builder morale rises in July on lower mortgage rates

Mubasher: US home builder sentiment continued to improve in August, with a firm demand for single-family houses.

Global Markets brief

15 August 05:42 PM US natural gas storage rises; futures climb

Mubasher: The US natural gas storage grew by 49 billion cubic feet, in the week ended 9 August, recording a total of 2,738 Bcf.

Global Markets brief

15 August 05:19 PM US business inventories posts no change in June

Mubasher: US business inventories saw no actual change during June at $2.035 trillion on a seasonally adjusted basis, compared with the revised reading of May.

Global Markets brief

15 August 04:51 PM US industrial production declines in July on manufacturing slump

Mubasher: US industrial output saw a decline in July, led by a manufacturing downturn, adding another worrying sign for the world's biggest economy.

Global Markets brief

15 August 04:21 PM US jobless claims edge up 9,000

Mubasher: US unemployment claims, which gauges layoffs, increased by 9,000 week-on-week to 220,000 claims in the week ended 10 August.

Global Markets brief

15 August 04:10 PM NY manufacturing business gauge declines in August

Mubasher: US manufacturing business activity saw slower growth in August, according to New York Federal Reserve Bank’s Empire State Manufacturing Survey.

Global Reports

15 August 03:53 PM US business activity grows at slower pace in August

Mubasher: The Philadelphia Federal Reserve on Thursday said that its gauge on the US Mid-Atlantic business activity sustained its expansion in August.

Global Reports