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May, 25, 2016

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Business > Global Markets
Most Asian stock markets rose Thursday, with energy firms building on the previous day's gains thanks to another surge in oil prices while pharmaceuticals were helped by the collapse of a huge U.S. drugs tie-up.
Crude prices extended gains in Asia Thursday following a sizeable drop in U.S. stockpiles, the first decline in seven weeks, indicating stronger demand in the world's top oil consumer.
The yen rallied against the U.S. dollar on Thursday, while emerging currencies were boosted by U.S. Federal Reserve minutes highlighting unease over raising interest rates too soon given global economic weakness.
Oil prices climbed in Asia Wednesday after Kuwait's agreement to freeze output during a producers' meeting this month, which could still be reached despite conflicting statements by participants.
Global economic recovery is still "too slow" and "too fragile" in the face of growing risks from a slowdown in China and subdued growth in developing economies, International Monetary Fund chief Christine Lagarde said Tuesday.
General Electric CEO Jeff Immelt is pledging to spend US$50 million on a series of initiatives in Boston, including US$25 million in the public schools, as his company prepares to move its headquarters to the city.
Middle Eastern and North African nations can make a "net benefit" of US$750 billion if they achieve their set targets on the use of renewable energy, a senior official said Monday.
'Panama Papers' revelations trigger global probes
Several countries have launched tax evasion probes after a massive leak of confidential documents lifted the lid on the murky offshore financial dealings of a slew of politicians and celebrities.
The U.s. dollar declined against the yen Monday with traders unmoved by a better-than-expected jump in U.S. jobs and manufacturing while analysts doubted the Bank of Japan's ability to weaken its currency.
Worldwide smartphone sales for 2016 are expected to grow only 7 percent in 2016, marking the first year for the handheld devices to post a single-digit increase in a saturated market, according to market information advisory firm Gartner.
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