By Commodity News Service Canada
WINNIPEG, September 27 – The following is a glance at the news moving markets globally.
WTO LOWERS GLOBAL GROWTH OUTLOOK
The World Trade Organization has lowered its outlook for global growth in 2016, according to reports on Tuesday.
The estimate for global growth has been downwardly revised to 1.7 per cent from a previously projected 2.8 per cent.
Weaker American imports and the economic slowdown in China were cited as reasons for the anticipated decline.
SAUDI ARABIA, IRAN NOT EXPECTED TO REACH DEAL
Officials from Saudi Arabia have said the country was unable to reach a deal on an oil output cap with Iran, reports say.
However, Iranian officials say the two countries will resume discussions in November.
HONG KONG EXPORTS UP IN AUGUST
Hong Kong’s exports gained in August, moving up 0.8 per cent, compared with year ago levels.
The advances follow a 5.1 per cent drop in July.