The decision by Saudi Arabia’s King Salman to restore cuts to financial allowances for civil servants and military personnel is being seen as helping the kingdom avoid recession this year, while smoothing the path toward economic reforms.
Dozens of major US companies are facing shareholder votes this spring that seek to require more disclosure about political lobbying, as activists demand greater corporate transparency.
Saudi stocks rose in heavy volumes yesterday as investors cheered news that King Salman had issued a royal decree restoring financial allowances for civil servants and military personnel, while Egypt fell steeply on profit-taking.
Saudi Arabia has attracted the attention of global investors and investment banks looking to benefit from the kingdom’s plans for economic transformation. It’s also drawing regional money.
Interest rates and fiscal measures are among the tools Egypt could use to control one of the highest inflation rates among emerging markets, a senior International Monetary Fund official said, creating speculation the Washington-based lender is recommending higher borrowing costs.
China’s electric-car market is already the world’s biggest, but a government proposal to introduce “new energy” vehicle quotas for automakers is further charging it up.
US President Donald Trump’s plan to upgrade the nation’s roads, ports and bridges will drive demand for steel and support iron ore prices, Australia’s Finance Minister Mathias Cormann said.
The Philippine central bank governor Amando Tetangco said the outlook for economic growth continues to brighten, though there are uncertainties such as concerns about US trade policy.
The world’s hottest property stocks are to be found in China as tougher measures to cool real estate prices fail to deter investors.