Abu Dhabi National Oil Company said Monday it has awarded two contracts worth $3.5 billion to South Korea's Samsung Engineering to boost output at the largest refinery in the United Arab Emirates.

China on Monday lashed out at US "economic intimidation" following President Donald Trump's announcement of new import tariffs, but said it was open to negotiations to resolve trade frictions.

Seoul has agreed to a quota for steel exports to the US 30 percent below current sales and accepted extended tariffs on pick-up trucks to secure a revised trade deal with Washington and escape its steel duties, the government admitted Monday.

China launched yuan-denominated oil futures contracts on Monday, marking the first time foreign investors will have access to Chinese commodity futures as the world's top crude importer seeks greater influence over global prices.

South Korea and the United States have reached an understanding on revising their free trade agreement (FTA) and on steel tariffs, Seoul's trade minister said Sunday.

The US and China's top economic officials agreed by phone Saturday to "continue to communicate" on trade issues, Chinese state media said, as President Donald Trump pledged his escalating trade showdown would get results despite pushback from Europe and Beijing.

U.S. President Donald Trump on Friday signed a $1.3 trillion compromise federal spending bill despite being "unhappy" with many of its provisions -- thereby averting what would have been the third government shutdown of 2018.

The United States launched Friday a challenge at the World Trade Organization against China over intellectual property breaches, a statement said.

Venezuela's President Nicolas Maduro announced Thursday he would re-value the crisis-wracked country's bolivar currency, cutting three zeroes from current values to combat hyperinflation.

Australia's Commonwealth Bank plans to enter mediation with the country's financial intelligence agency over a major anti-money laundering civil case that could be hugely costly for the lender.