The figures should be a wake-up call for governments, WTO Director-General Roberto Azevedo said in the six-monthly trade outlook report.
Mathias Doepfner, head of one of Europe's largest media companies, said Britain was bound to experience short-term pain as a consequence of its June 23 vote to quit the EU.
It has shown some signs of stabilisation in recent months after billions of dollars in government spending and a property boom in the country's top-tier cities.
Oil prices have more than halved from 2014 levels due to a glut, prompting OPEC producers and non-OPEC Russia to seek a market rebalancing that would boost revenues from oil exports and help their crippled budgets
The results are important because so much of Britain's economy hinges on financial services, some 2 million people across the UK.
"China needs to worry about effect of industrial transfer to India on production chain," an article in the state-run Global Times said today.
The latest survey of 115 financial services firms by business lobby CBI and consultancy PwC found that optimism fell during the three months to September, the third quarter in a row that it has dropped.
President Erdogan has criticised the rating agencies for being politically motivated. He accused S&P of siding with the coup plotters after its move in July. The Moody's rating cut may mean Turkey will have to pay more to borrow money on international markets.
Innogy will issue 55.6 million of new shares while parent RWE will put up as many as 83.3 million existing shares for sale.
Anton Siluanov said that the ministry may raise issuance of domestic debt by 100 billion roubles ($1.58 billion) in 2016.
Trans-Atlantic Trade and Investment Partnership, is aimed at removing barriers to trade between the EU and the US to boost economic growth and employment.
Federal Reserve trimmed its long-term interest rate expectations and the Bank of Japan rebooted its monetary policy framework.
China's economy grew at its slowest pace in a quarter of a century last year, and has decelerated further since then as the country faces multiple development bottlenecks.
The Fed left short-term rates unchanged, but signalled it could hike rates by year-end as the labour market improved further.
Japan, the world's fourth-biggest crude buyer, imported 3.38 million barrels per day of crude oil last month.
International benchmark Brent crude oil futures were trading at $45.80 per barrel at 0048 GMT, down 15 cents from their last close.
While the Fed may not go as far as lifting its rate this week, it remains possible that it could move to a more explicit tightening bias, experts say.
Home prices rose at a faster pace in August with the buying frenzy spilling over from first-tier cities to other parts of the country.
Egypt will send a team to Russia at the end of September to discuss a ban placed on Egyptian agricultural exports, the Ministry of Trade said in a statement, a move that comes amid growing tensions over Egypt's wheat restrictions.
News overnight that the US Department of Justice had levied a far bigger than expected $14 billion fine on Germany's largest bank sent financial stocks across Europe tumbling.
Investors are watching to see if the Bank of Japan opts to ease its lax monetary policy further at a policy meeting next week.
Federal prosecutors on September 14 accused Silva of being the "maximum commander'' of the kickback scheme at Petrobras.
Traders said investors were nervous ahead of the BOJ's Sept. 20-21 meeting, fearing it may cut interest rates more deeply into negative territory.
The current focus in markets is whether the Fed will raise interest rates at its meeting next week.
The move opens a new front in the increasingly tense trade relations between the world's two largest economies.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3 percent in early trade, extending its decline since late last week to 4.4 percent, while Japan's Nikkei dropped 0.7 percent.
Wells Fargo & Co, the largest US bank by market capitalization, said on Tuesday it would eliminate all product sales goals in retail banking, starting next year
China's economy has stabilised in recent months on the back of increased government spending and a property rebound, but private investment remains weak.
National Australia Bank's monthly survey of more than 500 firms showed its index of business conditions dipped 2 points to +7 in August, though that was still above its long-run average.
The Hang Seng index dropped 3.4 percent to 23,290.60 points, the worst performer in regional markets and its biggest single day fall since early Feb. 11.
Questions over the health of presidential candidate Hillary Clinton also cast a shadow on the markets after she was diagnosed with pneumonia during the weekend.
The main TAIEX index dropped 1 percent, to 8,965.01 points, its lowest level since early September.
"The central bank is trying to stabilise the yuan at around 6.68, as once the yuan breaches the 6.7 level, 6.8 is just around the corner," said a trader at a Chinese bank in Shanghai.
PBOC economist Ma Jun identified the property sector and state-owned enterprises as key drivers of high debt levels in the economy over recent years.
The Nikkei fell 1.9 percent to 16,647.52 points by late morning, trading below its 200-day moving average for the first time in more than a week.
Crude imports have been trending higher since early 2015 as domestic production has fallen and refiners have turned to foreign crudes to help meet strong demand for gasoline and diesel.