The World Bank has raised its 2016 forecast for crude oil prices to $41 per barrel from $37 per barrel in its latest Commodity Markets Outlook as an oversupply in markets is expected to recede.
Amid improving market sentiment and
The Organization of the Petroleum Exporting Countries (Opec) on Wednesday cut its forecast for global oil demand growth in 2016 and warned of further reductions citing concern about Latin America and China, pointing to a larger supply surplus
The Zika virus, linked to severe birth defects in thousands of babies in Brazil, is "spreading explosively" and could infect as many as four million people in the Americas, the World Health Organization (WHO) said on Thursday.
The United Nations said it cut its forecast for global economic growth in 2015 by 0.4 percentage point to 2.4 per cent, largely due to lower commodity prices, increased market volatility and slow growth in emerging market economies.
A new mobile phone app designed to help aid workers predict where hunger may strike and provide help in good time was launched by Austrian scientists on Thursday.
The app, which is free to use, combines and ana
The packaging industry sector in the Middle East and North Africa (Mena) region has been forecast to grow to $52.4 billion by 2019, from the current $41 billion, according to market research by Smithers Pira.
Oil prices fell more than two per cent on Friday after Goldman Sachs cut its crude forecasts, citing global oversupply and concerns over the Chinese economy, and after Saudi Arabia dismissed the idea of an oil producer summit.
The US government lowered both its 2015 and 2016 US crude oil production forecasts as a 60-per cent rout in benchmark prices since last summer weighs on shale output.
In its short term energy outlook, the US En
Opec raised its forecast of oil supplies from non-member countries in 2015, a sign that oil's price collapse is taking longer to impact on shale and other competing sources than previously thought.
In a mon
Ericsson, a leading mobile network equipment maker, beat second-quarter sales and profit forecasts and said its mainstay North American business had stabilised after three quarters of declines, lifting its shares as much as six per cent.