Reuters - The element of surprise in international relations appears more frequent and more ferocious. Are these shocks to be expected from a dangerously fragile political and economic global architecture? Or is something else going on? It is increasingly understood that we have entered a new phase of globalization –…
Reuters - Caterpillar Inc slashed its revenue forecast for 2015 by $1 billion and said it could cut up to 10,000 jobs through 2018, amid a downturn in the mining and energy industries. Shares of the world's biggest construction and mining equipment maker, which has also been hit by a…
Reuters - U.S. stocks opened sharply lower on Friday after the Federal Reserve's decision to hold interest rates exacerbated worries about the health of the global economy. The three major indexes were down more than 1 percent in early trading. Apart from the state of the world economy, the Fed…
Reuters - The United States on Friday issued regulations easing restrictions on American companies seeking to do business in Cuba and opening up travel in the latest action to weaken the U.S. trade embargo amid warming relations with the Communist country. The rules, which take effect on Monday, Sept. 21,…
Reuters - Asian shares are likely to fall on Friday after the U.S. Federal Reserve held off on raising interest rates, reviving concerns about global economic weakness. The dollar was on back foot, having fallen more than 1 percent after the Fed's decision while U.S. bond yields plunged, erasing their…
REUTERS - Saudi Arabia suspended construction giant Saudi Binladin Group from new contracts on Tuesday following Friday's collapse of a crane in Mecca's Grand Mosque which killed 107 people. It also ordered the Finance Ministry to review existing projects by the firm, a titan of the Arab business world. King…
Bloomberg : Pakistan cut its benchmark interest rate as the central bank seeks to encourage economic growth amid falling oil prices. Governor Ashraf Mahmood Wathra lowered the target policy rate to 6 percent from 6.5 percent, the State Bank of Pakistan said in a statement on its website on Saturday.…
Bloomberg : Emirates Telecommunications Group helped Abu Dhabi’s stocks buck losses across most Gulf Arab markets two days before the company allows foreign traders to own its shares directly. Dubai’s gauge dropped closer to a so-called death cross. Etisalat rose 1.4 percent to 14.75 dirhams at the close, bringing its…
Reuters - The dollar was mixed on Tuesday as rising stock markets and positive German economic data gave global investors reasons to throttle down the risk aversion tactics that recently boosted the euro and yen. The dollar, which traders said was unlikely to move much until Feb. 17, when U.S.…
Reuters - Brent crude futures jumped 4 percent on Tuesday as strong stock markets helped the global oil benchmark recover substantially from a 6 percent tumble in the previous session. U.S. crude prices were weaker reopening from Monday's U.S. markets closure for the Labor Day holiday. Stocks on Wall Street…