World Market News

Auto tariff war would hurt more than US-China fight: IMF chief economist

Gopinath told Reuters in an interview that such a conflict would affect exports from many more countries and impose retaliatory duties on US goods from numerous trading partners.

China’s industrial profits shrink most since late 2011 as economy cools

The trade war with the US has put a dent on factory activity, corporate earnings, business sentiment and overall consumption in a blow to the economic outlook.

Oil prices stable amid sanctions and OPEC cuts, but economic concerns drag

Meanwhile, a political and economic crisis in Venezuela combined with U.S. sanctions against Venezuela as well as Iran, have further tightened oil markets.

Nobody knows how Dubai’s economy’s been doing lately

The lack of an accurate read on the $106 billion economy leaves investors and businesses already stung last year by the world’s worst equity performance struggling to decide if it’s time to start buying.

UAE non-oil companies cutting jobs at fastest rate in decade

The report says that "companies lowered their staffing levels at the sharpest pace since the survey began in August 2009 and business confidence dropped."

Starbucks to launch first all-day dining cafe in China

The coffee chain, which now operates more than 3,700 stores in 158 cities in China, is seeing slower growth in the country, with transactions down 2 percent in its first quarter.

As growth slows, China cuts local govt debt costs to spur investment

The change comes after overwhelming demand saw recent local government bond issues massively oversubscribed, underscoring both their distorted pricing and the market's appetite for high-quality debt as Beijing relaxes monetary conditions.

Brexit takes toll on Britain’s financial sector, outlook weak

A survey of 84 firms said demand is expected to continue falling during the quarter to March, with profitability also expected to drop for the first time in three years.

Xi pledges tough measures to avert major risks for Chinese economy in 2019

The US has imposed punitive tariffs on Chinese goods worth USD 250 billion per year. In retaliation, China imposed tariffs on USD 110 billion of American goods.

Oil prices rise as OPEC output cuts seen deeper than previously expected

Benchmark Brent crude futures were up 1.51 percent at $55.17 per barrel at 0112 GMT, recovering from losses of $2.89 per barrel the session before.

Japan’s Nikkei hits nine-month low after Fed’s stance dampens mood

At the midday break, Japan's Nikkei share average was down 1.7 percent at 20,631.43 after going as low as 20,598.86, its weakest since March 26.

Asian shares pull back after Fed’s signals for more rate hikes

MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.34 percent, with Australian shares dropping as much as 0.65 percent to two-year lows.