DUBAI / Emirates Business Islamic Banks in the Gulf Cooperation Council (GCC) are expected to show resilience over the next two years after weathering tough market conditions in 2018, said S&P Global Ratings in a report published on Monday. “In 2018, GCC Islamic banks expanded slower than conventional peers for the first time in five years,” said S&P Global Ratings …

Bloomberg Oil tumbled towards $60 a barrel as President Donald Trump threw trade talks between the world’s two largest economies into disarray with a threat to raise tariffs on Chinese imports, roiling global markets. US crude pared losses after plunging as much as 3.1 percent in New York to the lowest level in five weeks. China was said to be …

Bloomberg Equities slumped globally and Treasury futures climbed with other haven assets after President Donald Trump’s threat to increase tariffs on Chinese imports called into question the chances of a resolution to the trade war. The yen rose while crude oil slid. Futures on the S&P 500 index sank as much as 2.2 percent, signalling a punishing start to the …