Commodities such as oil is slowly declining following the Black Monday selling pressure on 24th August raising concern among investors regarding current world economics. China stock took a plunge and Dow Jones Industrial average hit its lowest value for 2015 on that day.
Tags: Oil
UAE’s Beco Capital Projects Tech Startups to Boom in The Region Amid Low Oil Prices
UAE venture capital firm BECO Capital expects that the tech sector will spur amid the slowdown in the economy due to low oil prices. Especially in the region, the firm projects that tech startups will face a significant growth as the government seek to achieve diversification to non-oil sectors.
China's Economic Slowdown Is Deliberate and Healthy, According to the IMF
The newly-elected managing director of the IMF, Christine Lagarde, spoke at the Global Women’s Forum 2016 regarding the global economy, especially in the wake of the China economic slowdown. Despite the prolonged slowdown, the IMF foresee that China’s lower growth was deliberate and healthy.
Asian Shares Reversed Its Gain After Oil Prices Retreat, Other Markets Also Under Pressure
Asian shares fell back from a seven-week high on Tuesday as oil prices fell more than 2 percent. The sudden drop happened after the Asia-Pacific indices rose to its highest level since the beginning of the year, after seeing the rise in oil prices before reversing back.
Paragon Offshore files bankruptcy: post debt plan announcement
The oil services company Paragon Offshore Plc filed chapter 11 bankruptcy after the announcement of debt plan. The main reason is to avoid protracted legal battles involving its former parent, Noble Corp.
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The International Monetary Fund raises concern about the potential fallout of a US rate hike this year. The fund says raising interest rates at this time puts the already fragile global economy at risk. "Monetary policy must stay accommodative to prevent real interest rates from rising prematurely," the IMF said Wednesday in a letter to top central bankers and finance ministers meeting in Turkey this week.
Oil dropped on Monday as signs of a growing glut in refined products outweighed a fall in Saudi crude exports and slower U.S. rig activity.
Oil dropped on Tuesday after Iran and six global powers reached a landmark nuclear deal that would see an easing of sanctions against Tehran and a gradual increase in its oil exports.
European bonds and stocks traded cautiously on Friday before a Greek referendum on EU-prescribed reforms that could determine the country's future in the euro zone and which polls suggest could go either way.
Oil prices fell on Monday as the Greek debt crisis helped boost the dollar, making fuel more expensive to holders of other currencies, and as United Nations talks offered a chance for peace in Yemen where crude exporter Saudi Arabia is involved in a civil war.
Oil fell nearly 3 percent on Wednesday as traders and investors ignored a fifth straight weekly decline in U.S. crude stockpiles to focus instead on a big build in distillates, including diesel, as the peak season for U.S. road travel gets under way.
European shares rose on Monday, helped by an almost five percent rally in Chinese stock markets and rumours of progress in Greece's debt talks that halted sales of the euro.
Middle East fund managers have on balance become bearish on the region's biggest stock market, Saudi Arabia, after oil's rally ran out of steam and the kingdom confirmed strict rules on foreign investment, a monthly Reuters survey shows.
Oil prices fell by up to 3 percent for a second straight day on Wednesday as a resurgent dollar weighed on the market amid concerns that U.S. crude supplies may have started rising again after three weeks of draws.
