Archive of May 2019

Morocco offers millers incentives to use domestic soft wheat

RABAT: Morocco announced a set of measures on Friday to promote the use of domestic wheat by local millers instead of imports. These included a flat...

Paris wheat steadies with Chicago in pause after US rain rally

PARIS: Euronext wheat futures ended little changed on Friday as market worries over a US tariff threat against Mexico prompted Chicago grain prices to consolidate...

US crude output rises 2.1pc in March to near record high

US crude oil production rose 241,000 barrels per day (bpd), or 2.1 percent, in March to 11.905 million bpd, just below its record high, the...

Trump’s Mexican tariffs could hit US refiners, add to fuel costs

HOUSTON: US President Donald Trump's threats to tax Mexican imports could disrupt a long-standing cross-border energy trade, hitting US refiners that use Mexican oil by...

Global stocks drop on fears of expanding trade war

NEW YORK: Global equities tumbled and safe-haven sovereign bonds surged Friday after President Donald Trump's unexpected threat of tariffs on Mexican goods added to fears...

TSX slides after Mexico tariff threat

Canada's main stock index fell on Friday, as energy shares were hit by a more than 2pc drop in oil prices following US President Donald...

Ivory Coast Oct-April cocoa bean exports up 5.1pc yr/yr

ABIDJAN: Ivory Coast exported 1,275,550 tonnes of raw cocoa beans from the start of the season on Oct. 1 to April 30, up nearly 5.1pc...

Russian central bank seen cutting rates in June as economy slows

MOSCOW: Russia's central bank is now seen cutting rates in June, sooner than previously expected, as inflation is slowing amid sluggish economic growth, a monthly...

Uber suspends XL service in Istanbul

ISTANBUL: US-based ride-hailing service Uber will suspend its UberXL services in Istanbul from Friday, it said, though passengers in Turkey's largest city will still be...

JPMorgan now sees two 2019 rate cuts after US-Mexico tariff threat

NEW YORK: JPMorgan Chase & Co, which previously saw an even chance the US Federal Reserve would slash rates, on Friday said it now predicts...