The Saudi stock market plunged Sunday after President Donald Trump threatened "severe punishment" over the disappearance of Washington Post contributor Jamal Khashoggi. The Tadawul exchange in Riyadh dropped over 6 percent in the week's first day of trading, with 182 of its 186 listed stocks showing losses by the early afternoon.
Sanctions on Iranian oil exports are hitting much harder than most people predicted as the administration of U.S. President Donald Trump takes a tough line on enforcement, said executives from the world’s largest energy traders. Perhaps 2 million barrels a day of Iranian crude could eventually be lost to the global market, said Jeremy Weir, chief executive officer of Trafigura Group Pte. While other traders including Vitol Group of Cos. and Gunvor Group saw the impact closer to 1 million, that’s still twice as much as most people initially predicted.
The era of mystery-cloaked numbered Swiss bank accounts has officially come to a close as Switzerland, the world’s biggest center for managing offshore wealth, began automatically sharing client data with tax authorities in dozens of other countries.