Picture used for illustrative purpose. File
Non-oil trade between Saudi Arabia and Bahrain increased 43 per cent to $688.4 million during the third quarter (Q3) of 2020 compared to $481 million during Q3 of 2019.
Overall business conditions in Dubai’s non-oil private sector economy improved at the fastest rate in over four years in April. This mainly reflected the trend in new business, as employment was broadly unchanged during the month. Notably, business conditions in the wholesale & retail sector
Japan’s government slashed its economic growth forecast for this year largely due to weaker exports, in a sign the protracted US-China trade war is taking a bigger toll on the world’s third-largest economy.
The bond market is again pointing to fears of recession as the yield curve between three-month and 10-year rates inverts amid escalating trade tensions between China and the United States - one of five big themes set to dominate markets this week. Moody’s has warned that a trade war could tip the US economy into recession next year.
The global oil market is rebalancing after damage to demand wrought by the COVID-19 pandemic was met with curbs on output by producers from the Organization of the Petroleum Exporting Countries (Opec), the group’s president said on Tuesday.
Global stock markets and Wall Street futures declined on Tuesday after a selloff in the US Treasury debt eased, helping to allay concern about a possible rise in interest rates.
India’s finance ministry is considering cutting excise duties on petrol and diesel to cushion the impact of record high domestic prices, three government officials close to the discussions said.