The US would be better served by maintaining its open trade system rather than imposing new punitive duties on Chinese goods, the International Monetary Fund said on Thursday, adding that Washington and Beijing should work together to resolve their trade tensions. IMF spokesperson Julie Kozack tol
Oil prices gained on Friday, with global benchmark Brent set for its first weekly increase in three weeks on signs of improving global demand amid stronger economic indicators from key consumers China and the United States. Brent crude oil prices climbed 21 cents, or 0.25 per cent, to $83.48 a bar
China's measured response to the US move to hike tariffs on $18 billion of Chinese goods from syringes to batteries suggests relations between the world's two largest economies face more frost rather than a fresh firefight over trade. China denounced the Biden administration's action and vowed "re
Oil prices rose in early trade on Wednesday as large wildfires were threatening Canada's oil sands and as the market expected US crude oil and gasoline inventories to show a drawdown later in the day. Brent crude futures were up 34 cents, or 0.4 per cent at $82.71 a barrel. US West Texas Intermedi
Prices in Argentina are climbing, despite positive signs of a deceleration, with the embattled South American country's annual inflation rate set to edge closer to 300 per cent when the government reveals the latest data on Tuesday. Shopkeepers and consumers said that although monthly inflation re
Pakistan will privatise all state-owned enterprises, with the exception of strategic entities, Prime Minister Shehbaz Sharif announced on Tuesday, broadening its initial plans to take only loss-making state firms private.The announcement came after Sharif headed a meeting on the privatisation proce
Oil prices extended declines on Monday amid signs of weak fuel demand and as comments from US Federal Reserve, officials dampened hopes of interest rate cuts, which could slow growth and crimp fuel demand in the world's biggest economy. Brent crude futures slid 26 cents, or 0.3 per cent, to $82.53
Britain’s economy grew by the most in nearly three years in the first quarter of 2024, ending the shallow recession it entered in the second half of last year and delivering a boost to Prime Minister Rishi Sunak ahead of an election. Gross domestic product expanded by 0.6 per cent in the thr
The US central bank likely remains on track to cut interest rates this year even if the timing and extent of the policy easing is uncertain and further declines in inflation come only slowly, Atlanta Federal Reserve President Raphael Bostic said in an interview with Reuters. The US central bank li
Oil edged up on Tuesday after Israel struck Rafah in Gaza and talks for a ceasefire hung in the balance, maintaining the support that the market has gained from heightened Middle East tensions and risk to supplies. Palestinian militant group Hamas on Monday agreed to a Gaza ceasefire proposal from
New Zealand and the United Arab Emirates (UAE) will commence negotiations on a free trade agreement, a statement of the New Zealand government has said. New Zealand Minister for Trade Todd McClay met with his counterpart UAE Trade Minister Thani bin Ahmed Al Zeyoudi in Dubai on the launch of negot
Oil futures climbed on Monday after Saudi Arabia hiked June crude prices for most regions and as the prospect of a Gaza ceasefire deal appeared slim, renewing fears the Israel-Hamas conflict could still widen in the key oil producing region. Brent crude futures gained 34 cents, or 0.4 per cent, to
Saudi Arabia has announced a budget deficit of 12.39 billion Saudi Riyals (3.30 billion US dollars) in the first quarter of 2024. The quarterly budget performance report, released by the Saudi Ministry of Finance on Sunday, revealed that revenues reached 293.43 billion Saudi Riyals and expenditure
