Monday, January 25, 2016
Arab nations are looking to Chinese visitors to revive their tourism sectors, battered by security fears, and also need to develop homegrown tourism as a lifeline, ministers from the region say.
Saturday, January 23, 2016
World stock markets and oil prices rallied Friday, building on the previous day's recovery that was triggered by the European Central Bank hinting at more eurozone stimulus.
Sinking oil prices have cratered the stock market. But a silver lining could appear eventually. Cheaper gasoline and heating oil are giving consumers worldwide more money that they can use to step up spending later -- and perhaps energize economies in the United States, Europe and much of Asia.
Christine Lagarde announced Friday that she will run for a second term at the head of the International Monetary Fund (IMF), after winning strong backing from across Europe.
Asian stocks soared with oil and emerging currencies Friday after Europe's top banker hinted at fresh stimulus measures in the face of a global market rout and a report said Japan's central bank was considering similar moves.
Higher-yielding emerging market currencies rose against the U.S. dollar in Asia on Friday, after a jump in crude prices and hints the ECB could unleash more stimulus helped cheer traders.
Oil prices surged past US$30 a barrel in Asia Friday after the European Central Bank (ECB) signaled further stimulus measures to help the struggling eurozone economy, but analysts expect oversupply woes to limit gains.
Falling oil prices are weighing on the outlook for inflation in the euro area this year, but the European Central Bank's (ECB) stimulus measures and the gradual economic recovery will drive inflation higher again next year, an ECB survey showed on Friday.
Friday, January 22, 2016
The IMF on Thursday opens formal nominations for the next term of managing director, with incumbent Christine Lagarde seen as the leading candidate despite possibly facing a trial in France.