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Trillion dollar wipeout: world stocks’ worst first half since 2010

LONDON: If last year’s financial markets boom was down to a ‘Goldilocks’ global economy, 2018 has so far been all about the bears, with the worst start to a year for world stocks since 2010. A grizzly mix of U.S.-China trade tensions, central banks turning off the money taps and cooling growth in hotspots including Europe has wiped a trillion dollars off MSCI’s 47-country world index. A pumped-up dollar, which has had its best first half in three years, and a 16 percent leap in oil prices have played a big role too…

Worst NY fire in decades kills 12, including four children

Four children were among 12 people killed in a devastating fire that tore through a New York apartment building as terrified residents rushed to escape. The cause of the blaze -- the city's deadliest in decades -- was under investigation, authorities said. The fire broke out around 6:51 pm (2351 GMT) Thursday in a 25-apartment building near the Bronx Zoo, one of the most popular tourist attractions in the US financial capital. Fueled by strong gusts of frigid wind, the flames quickly raced through the building.…

Foreign investment in Pakistan has been worst in last four years: Asad Umar

ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) leader Asad Umar on Friday said in the last 30 years foreign investment in Pakistan was the worst in the four years of the government of the Pakistan Muslim League-N (PML-N), ARY News reported. “Despite heavy investment by China under the China Pakistan Economic Corridor project, the overall foreign investment in Pakistan is less than what it was in Pakistan Peoples Party (PPP) chief Asif Ali Zardari’s government,” he claimed while talking to media after the federal budget speech…

China stock markets among world’s worst in 2016

SHANGHAI: China is the world's second-largest economy and has one of the fastest growth rates of any G20 nation, but its stock markets have been among the worst performing in the world this year. Starting with a botched attempt to reduce volatility that instead triggered a spectacular meltdown, Chinese bourses have spent the year struggling against feckless policymakers, massive capital flight and a languishing currency. The benchmark Shanghai Composite Index (SCI) closed Friday down 12.3 per cent for the year,…