Friday , February 26 2021
Breaking News
Home / World Business

World Business

A business, also known as an enterprise or a firm, is an organization involved in the trade of goods, services, or both to consumers.

Markets, oil drop in Asia but bitcoin edges towards $50,000

HONG KONG: Markets fell in Asia on Friday in holiday-thinned trade with investors awaiting developments in US stimulus talks, while bitcoin hit a new record as it crept towards $50,000. Oil prices also retreated from their 13-month highs after investors were given a reality check on expectations for demand this year, despite expectations the global economy will see a strong ... Read More »

Asia markets slip as dealers take breath in holiday-thinned trade

HONG KONG: Asian equities pulled back on Thursday after a strong run-up in recent weeks as investors took a breather while keeping abreast of progress in US stimulus talks and the rollout of vaccines. Trading was thinned by holidays in major markets, notably Chinese New Year, which will see most of the region closed for several days. Global risk assets ... Read More »

Asian markets push higher as traders focus on recovery outlook

HONG KONG: Most Asian markets advanced again Wednesday as investors ignored a stall in Wall Street’s rally, with eyes firmly on the long-term outlook for the global economy as lockdowns are eased and life slowly improves. Falling infections rates, growing vaccination programmes and the prospects of a huge spending splurge by the US government within months continue to keep the ... Read More »

Asian markets track Wall St records on reopening hopes

HONG KONG: Equities pushed ever higher in Asian trade on Tuesday following another record-breaking performance on Wall Street as vaccinations are rolled out, infections fall and investors bet Joe Biden will be able to push through his massive stimulus. While there is a growing sense of concern that valuations may have gone too far for now, having enjoyed a strong ... Read More »

Asian markets track Wall St records on stimulus optimism

HONG KONG: Hopes that US lawmakers would pass Joe Biden’s huge stimulus package helped push Asian markets higher again Monday, while traders were also cheered by falling infection rates and the rollout of vaccines. After a rout at the end of January, the global rally across equities appeared to be back on track, despite concerns that valuations may have become ... Read More »

Oil rises 1pc, hits highest in a year on growth hopes, OPEC+ output cuts

NEW YORK: Oil prices rose about 1%, after hitting their highest in a year and closing in on $60 a barrel, supported by economic revival hopes and supply curbs by producer group OPEC and its allies. Oil was also supported as U.S. stock markets hit record highs on signs of progress toward more economic stimulus, while a U.S. jobs report ... Read More »

US dollar set for best week in three months as pandemic recoveries diverge

TOKYO: The dollar headed for its best weekly gain in three months on Friday, lifted by growing confidence that the US economic recovery will outpace global peers. The dollar index touched a new two-month high in Asian trade amid signs of resilience in the labour market, with closely watched nonfarm payroll figures due later in the global day. The greenback ... Read More »

Asian market rally stalls but vaccine, stimulus hope lend support

HONG KONG: Asian markets slipped Thursday as investors took a breather after a broad three-day rally, though upbeat data, stimulus hopes and signs of improvement on the virus and vaccine fronts continue to provide strong support. An upbeat outlook for the global economy continues to push oil prices higher, with top producers sounding a note of optimism for demand this ... Read More »

Most Asian markets extend rally as virus, stimulus optimism grows

HONG KONG: Most Asian markets built on the week’s rally Wednesday, boosted by US stimulus hopes and signs of easing virus infections as well as improvements in vaccination programmes. Support was also being provided by hopes that the social media-fuelled retail trading battle that rattled Wall Street last week appeared to be fizzling. The gains follow a two-day surge as ... Read More »

Asian markets extend gains as sentiment improves on outlook

HONG KONG: Asian stock markets extended gains on Tuesday on increased optimism about stimulus packages and global economic recovery, while retail investors retreated from GameStop and their new-found interest in silver. MSCI’s gauge of Asia Pacific stocks outside Japan was up 1.25% mid-morning, building on Monday’s rise. Hong Kong’s Hang Seng Index and China’s benchmark CSI300 Index opened 1.7% and ... Read More »

Asian markets mostly rise in respite from recent rout

HONG KONG: Most Asian markets bounced Monday following last week’s blood-letting as bargain-buyers moved in, but dealers remain on edge as surging infections and a stuttering vaccination rollout offset long-term hopes for the economic recovery. Worries about online retail investors’ attack on Wall Street short traders was also causing angst on trading floors, with fears they are being forced to ... Read More »

Oil steady as supply cuts offset demand worries on stalled vaccine rollouts

MELBOURNE: Oil prices were mixed on Friday as a pending supply cut by Saudi Arabia and lower U.S. oil stocks helped counter risks of slowing fuel demand due to stalled vaccine rollouts and contagious new coronavirus strains. U.S. West Texas Intermediate (WTI) crude futures slipped 3 cents to $52.31 a barrel at 0151 GMT, after falling 1.0% on Thursday. Brent ... Read More »

Asian markets a sea of red as virus woes add to correction fears

HONG KONG: Asian markets suffered further losses Thursday, tracking a rout in New York and Europe as markets were hit by a perfect storm of worries about the slow rollout of vaccines, surging infections, a stuttering economic recovery, and high valuations. After a months-long rally sent several indexes to records or all-time highs, investors have started to fret in recent ... Read More »

Asian markets swing as traders mull virus, vaccines and stimulus

HONG KONG: Equity investors trod warily on Wednesday as they weighed hopes for a long-term recovery against immediate worries over surging virus infections, mutated strains and slow vaccine rollouts. Signs that Joe Biden’s much-vaunted stimulus could face a tough ride through Congress were also tempering optimism, while there was increasing talk of a market correction following a recent global rally. ... Read More »

Global economic recovery remains precarious: UN report

UNITED NATIONS: The United Nations today warned that the devastating socio-economic impact of the COVID-19 pandemic will be felt for years to come unless smart investments in economic, societal, and climate resilience ensure a robust and sustainable recovery of the global economy. In 2020, the world economy shrank by 4.3 percent, over two and half times more than during the ... Read More »

Most Asian markets rise with eyes on US stimulus push

HONG KONG: Asian markets mostly rose Monday, rebounding from a sell-off at the end of last week as investors keep tabs on the progress of Joe Biden’s new US economic rescue package. However, while vaccinations and long-term optimism about the economic outlook is providing support, sentiment remains weighed by concerns about surging virus infections and a new, more deadly strain. ... Read More »

Oil down 2pc as China Covid-19 cases trigger clampdowns

LONDON: Oil prices fell on Friday, retreating further from 11-month highs hit last week, weighed down by worries that new pandemic restrictions in China will curb fuel demand in the world’s biggest oil importer. Brent crude futures fell $1.31, or 2.3pc, to $54.79 a barrel by 1230 GMT, after a 2 cent gain on Thursday. US West Texas Intermediate (WTI) ... Read More »

WTO rules in favor of Seoul in tariff dispute with Washington

MOSCOW: The World Trade Organization has ruled in favor of South Korea in Seoul’s dispute with the United States over high tariffs imposed on local steel and power transformer products. In February 2018, South Korea filed a lawsuit with the WTO concerning some anti-dumping and countervailing duties imposed by Washington on South Korean steel and power transformer products, claiming US ... Read More »

Asia sees in Biden presidency with healthy gains

HONG KONG: Asian markets welcomed Joe Biden’s first day as US president with broad gains Thursday as investors look forward with optimism about his economic and Covid recovery plans. Soon after being sworn in Biden signed more than a dozen executive orders unwinding some of his predecessor’s policies, including rejoining the World Health Organization that observers say will help in ... Read More »

Asia markets mostly up on hope for Biden recovery agenda

HONG KONG: Asian investors pushed markets higher again Wednesday as they await the swearing-in of Joe Biden, while they have taken heart from comments by Treasury nominee Janet Yellen as she looks to push through the new president’s stimulus proposals. The long-running battle on trading floors between long-term recovery hopes and concerns about the immediate virus crisis was being won ... Read More »