Bloomberg Investors are bracing for a significant downturn in the world economy, cutting earnings estimates amid a market sell-off. While all cyclical industries face some form of risks, some companies within each sector are more vulnerable than others as the outlook deteriorates. In recent recessions, technology and finance were the triggers — the internet bubble caused the 2000 market crash …

ABU DHABI / WAM The UAE has carried out relief and development initiatives in challenging humanitarian situations in many regions around the world, a top official said on the occasion of World Humanitarian Day. Such humanitarian projects have supported victims of crises, conflicts and wars and contributed to improving their lives, Mohammed Haji Al Khouri, Director-General of Khalifa bin Zayed …

Bloomberg Larry Kudlow pushed back on Sunday on the notion that the US economy is headed towards a recession, and said recent phone calls between US and Chinese trade negotiators had produced more “positive news.” Kudlow, the White House National Economic Council director, and Peter Navarro, President Donald Trump’s trade adviser, made multiple appearances on Sunday talk shows to discuss …

Bloomberg The race to develop oil terminals that can fully load supertankers on the US Gulf Coast remains congested, even as one of North America’s largest pipeline operators decided to push its project ahead. Over a year, more than 10 projects have been proposed for terminals that, combined, will be able to load 8 million barrels a day onto very …

Bloomberg The days when energy stocks and price of oil moved in lockstep are now few and far between. Oil may go up but stocks still fall, and in Canada it’s the worst divergence on record. The ratio of the iShares S&P/TSX Capped Energy Index ETF to West Texas Intermediate crude oil is at an all-time low, according to data …

Bloomberg Freyr AS, a startup planning to build one of Europe’s first battery gigafactories in Norway, has a bigger vision for the region: a “Nordic Battery Belt.” The Norwegian company is still gathering approvals, technology licenses and funding for its initial, 40 billion-krone ($4.5 billion) project in northern Norway. But it already sees the scope for as many as four …

Bloomberg Private home sales in Singapore jumped to highest in eight months as a broader economic slowdown spurred investors to park their money in a property market known as a safe haven. Developers in the city-state sold 1,178 apartments in July, an increase of 43% from the previous month, and the highest level since November. Purchases by foreigners more than …

Bloomberg Investors should stick with their stocks despite the sell-off this week because it would be harder to time the market and get back in, according to Brian Levitt, global market strategist for North America at Invesco. US equities suffered one of the deepest sell-offs of the year as mounting signs of a global economic slowdown stoked fears of a …

Bloomberg Facebook Inc’s Libra cryptocurrency will be discussed as a delegation of American lawmakers visits Switzerland in the coming days. The group of six will hold a meeting with the Swiss Federal Data Protection and Information Commissioner Adrian Lobsiger, NZZ am Sonntag reports, citing his spokesman. It will be led by Democrat Maxine Waters, who has previously spoken critically about …

Bloomberg Protest-battered Hong Kong should also brace itself for an “economic typhoon” caused by the US-China trade war and recent political unrest in the city, Financial Secretary Paul Chan wrote in a blog post on Sunday. The warning from the city’s top budget official came after Hong Kong slashed its 2019 growth forecast to as little as zero, down from …