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Hong Kong suffered a day of tempestuous weather, grim economic news and signs that the city’s political crisis is deepening.
Hong Kong's economic growth is expected to have picked up in the second quarter, analysts say, but the outlook is being clouded by the protracted Sino-U.S. trade war and spiralling social unrest.
HONG KONG: Social unrest gripping Hong Kong has affected the city’s economy and businesses, and the unemployment rate is likely to rise from current levels, Financial Secretary Paul Chan said in a blog post.
SINGAPORE: Private bankers are being flooded with inquiries from investors in Hong Kong who are worried about the long term effects of the political crisis in the Chinese city.
LONDON: British businesses have turned gloomier about the economy as the country's political crisis deepens, bucking an improvement in sentiment earlier this year, according to a survey published by an employers group on Friday.
LONDON/PARIS:Boris Johnson, the favorite to succeed Theresa May as Britain's prime minister, said on Sunday he would withhold payment of the country's European Union exit bill to try and get a better deal - a move that drew an immediate rebuke from France.
LONDON: British Prime Minister Theresa May's new Brexit offer to UK lawmakers retains the Northern Irish backstop and does not add anything new on customs arrangements, The Telegraph newspaper reported late on Sunday.
A fortnight ago, markets were going great guns, with the S&P 500 hitting record high, even as there was increasing evidence that global trade and many economies were slowing. Last week the markets took a sharp turn as the White House twittered that tariffs would once again be escalated for US-China trade.
SYDNEY: Asian share markets were subdued on Friday amid thin holiday trade although the dollar found support as investors pared expectations for a U.S. rate cut this year while oil prices loitered near one-month lows on oversupply fears.