IMF cuts growth forecasts for most countries in wake of century-high US tariffs
Fund sees global growth of 2.8% in 2025, down from 3.3% in January forecast
IMF warns of increased global financial stability risks amid trade turmoil, Trump tariffs
Warning of higher financial risks comes as the IMF cuts growth forecasts for most countries, citing the impact of US tariffs; Fund calls for regulators worldwide to complete capital rules, heighten oversight
Stock markets, dollar rebound in Asia as Trump steps back to fire Fed chiefÂ
Nikkei jumps over 2%, S&P 500 futures extend rally; Dollar bounces as Trump says no plans to fire Powell; Hopes for China tariff relief, but no deal yet
Oil rises 1% on Iran sanctions, drop in US crude stocks
Market finds support after Trump backed off from threats to fire Fed Chair Jerome Powell; Brent futures rise 0.9%, WTI by 0.94%
China warns South Korean companies over exporting products with rare earth minerals to U.S. defense firms
Beijing's letters to South Korean firms highlight the risk of sanctions if export restrictions on key materials are violated.
IMF lowers Saudi Arabia’s 2025 GDP growth forecast amid global oil market pressures
Cites slower oil recovery and regional challenges for growth downgrade
Microsoft signs $544 million hyperscale data center deal with Dubai’s du
Currently, du operates five data centers in the UAE
Google rejects OpenAI’s request to access search API, ChatGPT exec tells antitrust trial
OpenAI initially reached out to Google in July, but the tech giant declined the request in August, citing competitive concerns
Vietnam clamps down on fraud on US exports, document shows
The ministry says that trade fraud was likely to increase amid growing tension caused by U.S. tariffs
Dollar remains weak amid Fed concerns and trade tensions
U.S. dollar index rises 0.26% to 98.599 after falling to 97.923 in the previous session, the lowest level since March 2022
Oil prices rebound over $1 per barrel after U.S. sanctions on Iran
Brent crude futures rise by 2.6% reaching $68 per barrel, while U.S. West Texas Intermediate (WTI) crude contract gains 3.1% to settle at $65.04
Tesla settles wrongful death lawsuit tied to acceleration issue
The plaintiffs accuse Tesla of being aware of numerous reports of sudden unintended acceleration in its vehicles
Mercedes-Benz unveils Vision V electric luxury van series
German automaker aims to carve out a fresh niche in the premium electric vehicle market
U.S. finalizes steep tariffs on Southeast Asian solar imports
Since the investigation begins, imports from the four countries decline as alternative sourcing gains traction
India’s CCI fines Google TV in market abuse case
In response, Google submits a settlement application proposing key changes to its business practices