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Oil prices rally after plumbing new depths

Oil surged more than five percent in Asia Friday, a day after tanking towards 13-year lows and following a report suggesting the OPEC producers  club was open to working towards cutting output to stabilise volatile crude markets. Prices for both key contracts dived Thursday in line wi

US oil prices slide for 5th straight session

US oil prices fell for the fifth straight session Wednesday as US crude inventories remained at high levels and OPEC confirmed a significant rise in cartel production in January. US benchmark West Texas Intermediate for March delivery fell 49 cents to $27.45 a barrel on the New York M

US oil prices dive below $27 a barrel

US crude tumbled below $27 a barrel in Asia Thursday as the oversaturated market struggled to cope with high inventories in the United States and an increased output from OPEC. The decline came despite the weekly US Department of Energy report showing US oil stocks fell about 800,000

Pakistani exports fell by 14 percent in FY 2015-16 July-Jan period

Exports fell by significant 14 percent in July 2015 to January 2016 period bringing the total to USD 12 billion, Dunya News reported Thursday. According to the statistics issued, exports in the first seven months of Fiscal Year (FY) 2015-16 stand at USD 12 billion while imports USD 25

Dollar sinks in Asia as Fed boss dampens chance of rate hike

– The dollar retreated across the board in Asia Thursday after comments from Federal Reserve boss Janet Yellen on the weak global economy suggested the central bank will not hike interest rates any time soon. The greenback also sank to late 2014 levels against the yen on the bac

European stock markets stable at open

Europe’s main stock markets were steady in initial trading on Friday, at the end of another volatile week for equities. London’s FTSE 100 benchmark index gained 0.1 percent to 5,903.5 points compared with Thursday’s close. In the eurozone, Frankfurt’s DAX 30 in

Major bourses dragged lower by weaker oil, global equities

Major stock markets in the Middle East fell on Sunday after oil prices pulled back and global bourses sold off at the end of last week. The correlation between oil prices and Gulf equity markets has strengthened in recent months with many investors believing markets will continue to t

US trade deficit grows in 2015 as exports weaken

The US trade deficit grew modestly in 2015 as exports declined amid a slowing global economy, government data showed Friday. For all of 2015, the trade gap in goods and services widened 4.6 percent from a year ago to $531.5 billion as the fall in exports outpaced the decline in import

China says EU should take steel dumping claims to WTO

China’s Ministry of Commerce said that claims it was dumping steel in Europe should be put to the World Trade Organization (WTO), responding to reports that the European Commission (EC) was preparing to impose duties on imported Chinese steel. WTO members should fulfill their tr

Oil prices slump, returning pressure to global stocks

Oil prices fell more than 3 percent on Tuesday amid worries about demand, renewing pressure on global equities and boosting buying of safe-haven U.S. government bonds. U.S. crude prices slipped below $30 a barrel before recovering somewhat as hopes for a deal between OPEC and Russia o