Worries of a deepening China economic slowdown have intensified after a private survey showed the factory sector shrank at its fastest rate in almost 6-1/2-years in August, hammering global stocks and commodity prices.
Japan's economy shrank at an annualised pace of 1.6% in April-June as exports slumped and consumers cut back spending, adding pressure on Prime Minister Shinzo Abe to step up his policy drive to lift the economy out of decades of deflation.
China's yuan hit a four-year low this morning, falling for a second day after authorities devalued it in a move that sparked fears of a global currency war and accusations that Beijing was giving an unfair advantage to its struggling exporters.
Emirates National Oil will delist Irish-listed oil and gas explorer Dragon Oil from the London and Irish stock exchanges after successfully completing its takeover of the company, reports The Irish Independent.
The International Monetary Fund should put off any move to add the yuan to its benchmark currency basket until after September 2016, IMF staff said in a report which showed a mixed performance of the renminbi on meeting key financial norms.