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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.

Asia stocks fall after US crude collapses for second day

HONG KONG: Asian share markets slipped to two-week lows on Wednesday as the floor fell out from under crude prices, exposing the deep economic damage wrought by the global coronavirus health crisis. Skittish investors sought the safety of government debt as Brent oil futures plunged for a second day to a low last seen almost two decades ago, fueled by ... Read More »

US oil prices bounce back after historic crash

NEW YORK: US crude prices bounced back into positive territory on Tuesday, a day after crashing below $0.00 for the first time owing to crippled demand and a storage glut, while the commodity rout sent Asian equities sharply lower. West Texas Intermediate for May delivery was changing hands at $1.10 a barrel after diving to an unprecedented low of -$37.63 ... Read More »

US oil prices drop more than 10pc to 20-year low

NEW YORK: Crude oil futures fell dramatically on Monday, with US futures touching levels not seen since 1999, extending weakness on the back of sliding demand and concerns that US storage facilities will soon fill to the brim amid the coronavirus pandemic. The oil market has been under pressure due to a spate of reports on weak fuel consumption and ... Read More »

Oil climbs as Trump lays out reopening of virus-hit US

SINGAPORE: Oil prices pushed higher Friday as President Donald Trump’s plan for a reopening of the virus-battered United States offset worries about a devastating supply shock triggered by the pandemic. Brent crude, the international benchmark, was up nearly three percent in Asian trade at $28.65 a barrel while US benchmark WTI rose 0.6 percent to $19.99 a barrel — but ... Read More »

Asian markets down on virus impact fears

HONG KONG: Asian markets fell in early trade on Thursday following overnight woes on Wall Street as more negative US economic data fuelled worries about the full impact of the coronavirus pandemic. There had already been a spate of grim economic forecasts this week, with the IMF warning of the worst global downturn in a century, and poor US economic ... Read More »

Global recession forecast as countries mull lifting virus lockdowns

PARIS: The coronavirus is poised to spark a bruising global recession not seen in a century, the IMF warned Wednesday as countries considered lifting sweeping lockdowns that have crippled economies and kept billions confined to their homes. The deadly pandemic has already killed more than 120,000 people and infected close to two million around the world since it first emerged ... Read More »

Oil prices rise as President Trump flags deeper output cuts

NEW YORK: Oil prices rose Tuesday after US President Donald Trump said producers are considering cutting 20 million barrels per day — more than double the figure publicly announced — to help the virus-hit sector. US benchmark West Texas Intermediate rose nearly 2% to trade at $22.85, while international benchmark Brent crude climbed 1.5% to trade at $32.26. OPEC producers ... Read More »

Oil prices soar after US, Saudi Arabia, Russia agree record output cut

NEW YORK: Top oil-producing countries agreed on “historic” output cuts to prop up prices hammered by the coronavirus crisis and a Russia-Saudi price war, sending crude prices soaring on Monday. The US benchmark WTI climbed 7.7% to $24.52 a barrel in early Asian trade while Brent was up 5.0%  at $33.08. OPEC producers dominated by Saudi Arabia and allies led ... Read More »

Global trade may fall up to 32 percent on COVID-19 disruption: WTO

KARACHI: World trade is expected to fall by between 13 percent and 32 percent in 2020 as the COVID 19 pandemic disrupts normal economic activity and life around the world, said a statement issued by World Trade Organization (WTO) on Wednesday. The wide range of possibilities for the predicted decline is explained by the unprecedented nature of this health crisis ... Read More »

Oil rebounds as hopes grow for output cut deal

SINGAPORE: Oil prices rebounded Wednesday as traders jockey for position ahead of a key producers’ meeting this week aimed at cutting output to support coronavirus-hit energy markets. US benchmark West Texas Intermediate was up 5.7 percent to $24.98 a barrel in morning Asian trade. A barrel of Brent, the international benchmark, was changing hands at $32.69 a barrel, up 2.5 ... Read More »

Asian shares cautiously gain on virus hopes, dollar slips

Asian stock markets rallied for a second day on Tuesday, and riskier currencies rose, buoyed by tentative signs the coronavirus crisis may be levelling off in New York and receding in Europe. Gains lacked Monday’s momentum, but were broad, even though global coronavirus cases kept rising and an economic crash on a scale not seen for generations looms large. The ... Read More »

Asian markets lifted by hopes on virus but oil in retreat

HONG KONG: Asian markets rose as some of the world’s worst-hit countries reported falling death rates, providing some much-needed hope in the battle against the coronavirus, though oil prices were rocked after a meeting of top producers was delayed. While the disease continues its deadly sweep across the planet, with more than 1.25 million now infected and nearly 70,000 dead, ... Read More »

Oil price barrels ahead as OPEC flags meeting

NEW YORK: The price of crude oil surged again Friday after OPEC said it would talk to non-members, notably Russia, giving investors hope for an end to a price war which has created market chaos along with crushed demand because of the coronavirus. OPEC oil producers and their allies will meet Monday via video conference, a source close to the ... Read More »

Oil, shares slip on doubts over Saudi-Russia deal

TOKYO/NEW YORK: Oil prices retreated on Friday after massive gains, while stocks in Asia edged down, as doubts grew over an oil price deal between Saudi Arabia and Russia that US President Donald Trump said he had brokered. With the coronavirus pandemic raising the risk of a prolonged global downturn, investors continued to seek the safety of the US dollar ... Read More »

Asia markets mostly up after Wall St rally but nerves remain

HONG KONG: Most Asian equities enjoyed gains Tuesday following another rally on Wall Street, while oil bounced, with traders welcoming a surprise jump in Chinese factory activity, though analysts cautioned that the road ahead remained rocky for the global economy. The World Bank also warned that fallout from the coronavirus pandemic could bring China’s growth to a standstill, with even ... Read More »

World’s largest glove maker sees shortage as coronavirus fight spikes

KUALA LUMPUR: Malaysia’s Top Glove Corporation, which makes one in every five gloves globally, expects a product shortage as demand from Europe and the United States spikes because of the widening coronavirus outbreak is exceeding its capacity. The company has extended shipping times to cope with the demand surge, Executive Chairman Lim Wee Chai told Reuters by phone on Saturday. ... Read More »

Historic $2.2tr coronavirus bill passes US House, headed to Trump

WASHINGTON: The U.S. House of Representatives on Friday approved a $2.2 trillion aid package – the largest in American history – to help people and businesses cope with the economic downturn inflicted by the coronavirus pandemic. The massive bill also rushes billions of dollars to medical providers on the front lines of the outbreak. Republican President Donald Trump said he ... Read More »

US stocks suffer late sell-off as stimulus passes into law

US stocks snapped a three-day winning streak on Friday as investors refocused on the wide economic fallout from the coronavirus pandemic while President Donald Trump prepared to sign a historic US stimulus bill into law, reported the Financial Times. The benchmark S&P 500 index ended the day down 3.4 per cent after a sell-off that accelerated into the close, reversing ... Read More »

Global stocks rise after US rally

Stock markets in the Asia-Pacific region mostly traded higher Friday, following a rally in U.S. markets as the government moved closer to approving the largest economic-relief package in history. Hong Kong’s Hang Seng and the Shanghai Composite Index rose about 1%, as did Japan’s Nikkei 225 and South Korea’s Kospi, paring some earlier gains. Australia’s ASX 200 fell 2.7%. Singapore’s ... Read More »

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