Category: INTERNATIONAL
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Bank of England’s Carney hints again at more stimulus after Brexit
Bank of England Governor Mark Carney said on Tuesday that a hit to Britain’s economy from last month’s decision by voters to leave the European Union could prompt the Bank to act, hinting again that more stimulus is on the way. “If the outlook has worsened, to use that term, in the judgment of the…
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US:Oil jumps 2 percent, up from 2-month lows on technical support
Oil prices rose 2 percent on Tuesday to rebound from two-months lows on a technical correction, a dollar weakened by rising risk in global markets and bets that U.S. crude stockpiles fell for an eighth straight week. Some investors and analysts said gasoline and diesel were in oversupply despite summer driving demand in the United…
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U.S. business wants slow Brexit, investment to dry up: lobby
U.S. businesses, Britain’s biggest foreign investors, largely factored in the vote to leave the European Union and now want to see exit talks progress slowly, a top executive at the U.S. Chamber of Commerce said. Investment from across the Atlantic will slow sharply as companies gauge the fallout, Myron Brilliant, head of international affairs at…
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China’s sluggish economy continues to drag
China will add to the growing gloom hanging over the world economy when it posts its weakest growth in seven years on Friday. The world’s second-largest economy is expected to have expanded by 6.6% in the three months to the end of June, compared with the same period a year earlier, according to a CNNMoney…
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Italy economy: IMF says country has ‘two lost decades’ of growth
Italy’s economy will not return to the levels seen before the 2008 financial crisis until the mid-2020s, the IMF has said, implying “two lost decades”. By the mid-2020s, it says the economies of other eurozone members will be 20-25% larger than levels seen in 2008. The Fund’s comments came as it cut its growth forecasts…
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Nigeria’s entertainment industry becoming silver lining of its economic cloud
As Nigeria faces what critics call its worst economic crisis in generations, the arts, entertainment and recreation sector is defying the trend. It grew 8.4 per cent in this year’s first quarter, according to the National Bureau of Statistics making some believe it could be a silver lining in the West African country’s economic cloud.…
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Zambia Lusaka Stock Exchange enters global market
Thomson Reuters, the global information group has announced the commencement of the supply of real-time information from the Lusaka Inventory Exchange (LUSE) to improve fairness trade opportunities for its local and international customers. The global info group Public Relations Manager for Middle East and Africa Candice Sgroi mentioned in a press release these days that…
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Saudi:Broad Stock Market Index launched by Dow Jones Indexes
Dow Jones Indexes, a leading provider of global index, made an announcement about the launch of Dow Jones MENA Broad Stock Market and Dow Jones Saudi Titans 30 Indexes. The Dow Jones MENA Broad Stock Market Index will be measuring the performance of stocks that have high trading volumes. These stocks are either large-cap or…
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Middle East:Telecom Industry and Banking Sector to change markets
Telecom companies in the Middle East take centre stage in the upcoming week as a consolidation phase is expected to start, but weak earnings in the third quarter from major Arab banks in the gulf could drag the stocks down. A rare M&A play, which followed a flurry of debt issuances in late September, and…
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South Africa’s Sibanye Gold to cut jobs at loss-making Cooke 4 mine
South Africa’s Sibanye Gold has began talks with unions for job cuts at its Cooke 4 mine after failing to stem heavy losses at the operation. The company first broached the subject of job cuts at the mine with unions in November 2014. Since then Cooke 4 has continued to fall short of production targets…