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Markets retreat as global fears mount
LONDON: European and US stock markets moved lower on Friday on investor concerns over Turkey and the ongoing trade war between China and the United States. Asian stocks however rallied after a positive lead from Wall Street overnight, with dealers cautiously optimistic about upcoming US-China trade talks -- although worries festered over the future for emerging markets as a whole. The rebound in the Turkish lira has been cut
 
 
Gold set for biggest weekly fall in over a year
LONDON: Gold recovered some ground on Friday as a weakening US dollar relieved pressure on prices, but the metal remained near 19-month lows and looked set for its biggest weekly fall since May 2017. Gold has tumbled 14 per cent from its April high as a rally in the greenback made dollar-priced bullion more expensive for buyers with other currencies. Investors seeking a safe place to store assets amid trade disputes and a
   
Greece set to exit bailout, still faces big challenges
ATHENS: Greece exits the last of its three bailouts on Aug. 20 and hopes to be able to borrow again in international markets after a nearly nine-year debt crisis that shrank the economy by a quarter and forced it to implement painful austerity measures. The crisis has proven deeply traumatic for Greeks who had enthusiastically swapped drachmas for euros in 2001. Adoption of the single currency ushered in an era of cheap credit
 
 
Turkish firms and government face $3.8 billion bond crunch
LONDON: Turkey and its firms face repayments of nearly $3.8 billion on foreign currency bonds in October as the country struggles with a plunging lira that has lost more than a third of its value since the start of the year. Emerging market (EM) investors have been worried about Turkey’s external debt burden and the ability of its firms and banks to repay after a boom in hard currency issuance to help finance a rapidly growing
   
China punishes ratings agency Dagong over violations
SHANGHAI: One of China’s biggest debt rating agencies has been punished by the securities regulator and a supervisory group under the central bank, in a rare rebuke that underscores Beijing’s concern about credit risks at a time of slowing economic growth. China’s credit ratings industry has a reputation for providing favourable ratings for local issuers, downplaying risks, even as some international watchdogs warn debt is at
 
 

 Markets
 
ADSM
 DFM Kuwait   S.Arabia
0.42%
 
0.52%
 
0.00
 
0.02%
 
 INDICES CLOSE

 UP/DOWN 
 Bombay
37,947.88
284.32
 Karachi
42,446.62
485.82
 Philippines
7,583.52
66.16
 Nikkei 225
22,270.38
78.34
 

 CURRENCIES/DHS BUY SELL
 US $ 3.6730  3.6730
 British £
4.6646
 4.6963
 Euro ç 4.1741 4.1907
 Yen ¥ 0.0331 0.0332

 GOLD(24ct/g) CLOSE

 UP/DOWN 
 Dubai
142.50
00.50
 Bombay
31,037
139.00
 Karachi
46,854
00.00
  UK (Oz)$
1,177
4.00

 DRAFT RATE

 India (Rs) 19.02
 Pakistan (Rs)
33.15
 Bangladesh (Taka) 22.74
 Sri Lanka (Rs)
43.53
     
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