Saudi Arabia’s economy will stall this year with growth “close to zero” due to lower oil revenue, the International Monetary Fund said.
India’s disruptive new mobile entrant Reliance Jio, backed by the country’s richest man Mukesh Ambani, unveiled a low-cost 4G-enabled phone yesterday to woo tens of millions of new customers, further destabilising established telecoms players.
Japanese investment in the UK has hit a “record high” since last year’s shock Brexit vote, British Foreign Secretary Boris Johnson said yesterday.
General Electric Co’s profit fell nearly 60% in the second quarter and it put off an expected “reset” of 2018 earnings targets until November, sending shares down sharply.
European stock markets ended the week down as the euro extended its gains yesterday after the European Central Bank said it would reassess its monetary policy stance in the autumn, fuelling talk that the age of cheap money was coming to an end.
Baidu Inc and JD.com will join other big Chinese technology firms to jointly invest about $12bn in the Shanghai-listed unit of China Unicom, the weakest of three big state-owned telecoms firms, two people with direct knowledge of the matter said.
North Korea’s economy grew at its fastest pace in 17 years in 2016, South Korea’s central bank said yesterday, despite the isolated country facing international sanctions aimed at curbing its defiant pursuit of nuclear weapons.
A £14bn ($18bn) class action lawsuit against MasterCard for allegedly overcharging more than 45mn people in Britain over a 16-year period was blocked by a British court yesterday.
Japanese securities firms face an inspection by the industry association into how they comply with insider rules after Nomura Holdings found it breached laws governing the handling of nonpublic information.
With the dollar at 13-month lows, emerging stocks headed for a second straight week of gains yesterday and yields on emerging currency bonds hovered at their lowest in 2-1/2-years as the sector enjoyed buoyant fund inflows.
Gold bulls whose faith in the metal was rewarded earlier this year are being put to the test as a resilient rally in equities chips away at 2017’s gains.