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May, 4, 2016

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Business > Global Markets
The oil-rich Gulf states are expected to borrow between US$285 billion and US$390 billion through 2020 to finance budget deficits resulting from low oil prices, a report said Sunday.
Stock markets rebounded in Europe on Friday but stumbled in Asia, capping a volatile week as investors grow concerned about the health of the global economy.
Oil prices bounced Friday, with Brent climbing back above US$40, as traders digested falling U.S. output ahead of a producers' meeting this month to discuss a proposed output freeze.
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.
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