Investors pull $3.8bn out of bond funds

NEW YORK: Investors worldwide pulled $3.8 billion out of bond funds in the week ended June 24 on growing expectations that the Federal Reserve will hike interest rates this year, data from a Bank of A

Chinese stocks plunge 7.4% due to tight liquidity

SHANGHAI: Chinese stocks plunged over 7 percent on Friday, with one key index recording its biggest fall since 2008, hit by tight liquidity conditions ahead of the quarter-end and uncertainty over the

US consumer sentiment increases in June

WASHINGTON: Consumer sentiment rose this month to the highest level since January, suggesting that spending will strengthen this year.

Nigeria's new president dissolves NNPC board

ABUJA: Nigeria's new President Muhammadu Buhari dissolved the board of the state-owned Nigerian National Petroleum Corporation (NNPC) on Friday as a first step to cleaning up the oil industry in Afric

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