world economy


Kemp: Global economic outlook is darkening

LONDON, Aug 16 — Cyclical indicators point to slower and more uneven growth in the global economy for the rest of this year and into 2019, which means the rise in oil consumption is likely to moderate, especially for distillates like diesel….

Turkish lira hammered again as crisis spills into Asian markets

HONG KONG, Aug 13 — Asian markets tumbled and the Turkish lira dived almost eight per cent this morning on fears that the economic crisis gripping Turkey could spill over into the global economy. With investors already on edge over the China-US…

China announces date to match US$16b US tariffs

BEIJING, Aug 8 — China confirmed that it will impose 25 per cent tariffs on an additional US$16 billion worth of imports from the US from Aug. 23, matching an earlier move from Washington in another ratchet higher for the trade war between the two…

S’pore’s offshore industry recovering slowly

SINGAPORE: A big drag on Singapore’s growth in recent years, the embattled offshore and marine industry, has broken a three-year losing streak. Yet industry executives aren’t betting on a return to the glory days anytime soon. The industry, along with a top-class finance sector, has been a key pillar of Singapore’s economic transformation into a […]

Storm of news to hit global economy this week before August calm

LONDON, July 30 — People charged with running or monitoring the world economy are set for a busy week before those in the Northern Hemisphere get to enjoy their summer vacations. Central bankers in the US, Japan, the UK, Brazil and India all meet…

BRICS nations pledge unity as trade war threatens

JOHANNESBURG: Five of the biggest emerging economies stood by the multilateral system and vowed to strengthen economic cooperation in the face of US tariff threats and unilateralism. The heads of the BRICS group – Brazil, Russia, India, China and South Africa – met in Johannesburg for an annual summit dominated by the risk of a […]

China’s Xi says ‘no winner’ in any trade war

JOHANNESBURG: China’s President Xi Jinping said that there would be ‘no winner’ in any global trade war, in a direct warning to US President Donald Trump who has threatened to slap levies on all Chinese imports. “A trade war should be rejected because there will be no winner,” Xi said at the opening of a […]

It’s getting real: World economy feels the bite from trade war

FRANKFURT, July 25 — Protectionism is slowly starting to weigh on the global economy. From demand at factories to company profits and prices consumers are paying, the tit-for-tat trade battle US President Donald Trump started with China and the…

China says US-led trade war has become biggest ‘confidence killer’ for world economy

BEIJING, July 18 — The US-driven trade war has become the biggest “confidence killer” for the global economy, China’s foreign ministry warned today, saying the whole world would fight back if the United States continued to be “wilful”….

Trump pursues hard-line trade policies, despite costs

WASHINGTON: Unleashing another barrage of punitive trade tariffs on thousands more Chinese products, President Donald Trump has shown he is willing to pursue hard-line policies – no matter the cost. And as Trump’s attacks on Germany at the NATO summit this week demonstrate, that aggressive strategy extends to allies as well as traditional rivals and […]