Economic news

UAE warns Saudi Aramco attacks can dangerously escalate The attacks carried out on Saudi Arabian oil plants are a dangerous escalation and the international community should stand by Riyadh to ensure regional stability, a senior United Arab Emirates official said on Tuesday. Saudi Arabia said that initial findings indicated that the weekend attacks which had […]

U.S.-China Trade Talks to commence on Thursday Deputy-level U.S.-China Trade Talks are scheduled to commence in Washington on Thursday, U.S. Trade Representative’s (UTSR) office said, paving the way for high-level talks in October aimed to resolve a bitter, 14-month trade war. However, a UTSR spokesman had not offered any more details about the deputy-level talks. […]

France to block Facebook’s Libra in EuropeFrance has said that it will block the development of Facebook’s cryptocurrency, the Libra in Europe, dealing a fresh blow to the cryptotrade industry. The French finance minister, Bruno Le Maire said that plans for Libra could not move ahead until concerns over consumer risk and the governments’ monetary […]

Japan sought reconfirmation from US for no additional tariffs on auto exports Japan plans to reconfirm that Washington would not impose additional tariffs on Japanese automobiles and auto parts, Foreign Minister Toshimitsu Motegi said on Tuesday after the final stages of trade talks with the United States. U.S. President Donald Trump said on Monday that […]

UK businesses unprepared for a no-deal Brexit; BCC warns The British Chambers of Commerce (BCC) warned that a “concerningly high number” of UK businesses were unprepared for a no-deal Brexit after a research showed that more than two-fifths of British companies had not conducted a Brexit risk assessment. Parliament moved closer to obstructing a no-deal […]

LSE rejects Hong Kong’s Multi-Billion Dollar Takeover Bid The London Stock Exchange (LSE) had rejected Hong Kong’s $37 billion takeover bid, expressing the amount to be low, politically risky, and lacking strategic merit. In a strongly worded statement, LSE’s board said that it “unanimously” rejected the week’s conditional proposal from Hong Kong Exchanges and Clearing […]

Oil Prices Soar after Saudi Facility Attacks Oil prices surged to four-month highs on Monday after attacks on crude facilities in Saudi Arabia as supply fears sparked. The strikes on the facilities, which occurred in the weekends, halted 5% of the world’s oil production. Crude Futures on both sides of the Atlantic hit their highest […]

The Czech centre-left ruling coalition agreed on Friday to a public sector wage hike that will increase government spending after economists warned that budget revenue projections may come short. The pay decision, which covers around 290,000 state employees, will allow the government to complete its draft budget for next year. The wage increase was agreed […]

A No-deal Brexit would “inevitably disrupt” fresh food supplies in Britain as delays at ports would throw time-deliveries into chaos, a chief executive of the supermarket group Sainsbury expressed. Mike Coupe said the October 31st Brexit date could not have come at a worse time for supermarkets as warehouses were already full with produce for Christmas. […]

Asian stocks rallied up on continued hopes that a cooling in the US-China trade war could be nearing. Investors stayed positive of the highly-anticipated trade talks between the United States and China in the coming weeks. The two countries have been thought to show interest in easing tensions between them. Advisers of US President Donald […]