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August, 26, 2016

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Business > Global Markets
China slams higher European steel tariffs as unjustified
Beijing has criticized new European tariffs on Chinese steel as "unjustifiable" protectionism coming just weeks after commerce ministers from G-20 nations pledged to promote free trade.
 
World oil prices descended this week to their lowest levels for more than three months, rocked by renewed worries about a global supply glut and increased production.
 
European stocks and the U.S. dollar slid Thursday after the Federal Reserve held interest rates and indicated it would take a slow, measured approach to any hikes.
 
Oil prices edged up in Asia Thursday after slumping for five-straight sessions to a three-month low after a surprise jump in U.S. stockpiles built on increasing worries about a global supply glut.
 
European and Japanese shares rallied Wednesday after Tokyo launched a massive stimulus package, with sentiment buoyed also by accelerating British economic growth and upbeat company results.
 
Oil prices slipped to fresh three-month lows Wednesday as worries about a global oversupply resurface ahead of the release of U.S. stockpiles data later in the day.
 
Solar power plant
In this Sunday, January 16, 2011 file photo, Beam Down Pilot project, a joint pilot project of the Masdar Institute of Science and Technology, Japan's Cosmo Oil Company and the Tokyo Institute of Technology, takes the conventional concentrated solar power design and literally turns it on its head at Masdar City in Abu Dhabi, United Arab Emirates.
 
The yen rose sharply on Tuesday after a drop in oil prices hit confidence and as investors await the outcome of U.S. and Japanese central bank meetings.
 
Oil prices edged up slightly in Asia on Tuesday after tumbling more than two percent the day before, while a weaker dollar also provided support, although fears about a global supply glut are returning to the fore.
 
Asian equity traders moved cautiously Monday as another record close on Wall Street was offset by wariness ahead of central bank meetings in Japan and the United States this week.
 
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