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OPEC says it's alert to bearish economy, will balance market

LONDON: OPEC and its partners will take the current "economic bearishness” into account when they meet in coming weeks, and are committed to keeping oil markets balanced this year and beyond, its top official said.

Bank of England rings "last orders" bell for Libor

LONDON: The huge switch from the discredited Libor interest rate benchmark to a Bank of England alternative by the end of 2021 is probably progressing ahead of expectations and could boost London as a financial centre, top regulators said.

The huge switch from the discredited Libor interest rate benchmark to a Bank of England alternative by the end of 2021 is probably progressing ahead of expectations and could boost London as a financial centre, top regulators said.

IMF to warn Italy's debt poses major risk to euro zone economy

BRUSSELS: The International Monetary Fund has identified Italy's debt as a major risk to the euro zone economy, together with global trade tensions and a hard Brexit, an EU source told Reuters on Wednesday, anticipating a report the IMF will present next week.

The fund sees high risks from euro zone countries with high debts that are not building sufficient buffers.

UK economy close to stagnation due to Brexit, weak global demand

LONDON: British economic growth almost halted last month as a modest expansion in the services sector barely offset weakness among manufacturers and construction firms caused by the Brexit crisis and weaker global growth, a business survey showed.

Many services firms said Brexit worries continued to hurt sales in Europe, echoing a concern voiced by manufacturers on Monday.

Stocks gain in Fed's cheery slipstream, dollar subdued

LONDON: Global stocks gained for a third straight day on Wednesday, bolstered by investors' growing hopes that the Federal Reserve might cut interest rates this year to boost a slowing global economy, while the dollar languished near seven-week lows.

Interest rate futures show the U.S. central bank will start cutting rates as soon as next month, with as many as three rate cuts priced by year-end.

Markets are screaming rate cuts

NEW YORK: Investors’ growing conviction that the Federal Reserve will lower interest rates in coming months is putting policy makers under scrutiny when they attend what’s billed as a listening event on Tuesday.

MyCC seeks public views on market review of five food items

KUALA LUMPUR: The Malaysia Competition Commission (MyCC) is undertaking a market review in the food sector to better understand the food market in tandem with the government's efforts to reduce the cost of living.

MyCC's CEO Iskandar Ismail said the findings would enable the MyCC and the government to understand the market better and highlight any anti-competitive practices, if any.