BRICS nations voice ‘serious concerns’ over Trump tariffs
Rio de Janeiro, Brazil -- BRICS leaders meeting in Rio de Janeiro from Sunday are expected to decry US President...Economy Geostrategy
US Fed chair signals no rush for rate cuts despite Trump pressure
The Fed has a duty to prevent a one-time spike in prices from becoming an "ongoing inflation problem," said Federal...Economy
Oil prices drop, stocks climb as Iran-Israel war fears ease
Israel's surprise strike against Iranian military and nuclear sites on Friday -- killing top commanders and scientists -- sent crude prices...However, concerns over the conflict spreading appeared to have receded, with both main oil contracts retreating 3.7 percent.
Analysts said the recent decision by the OPEC+ group of crude producing nations, led by Saudi Arabia and Russia, to raise output again in July also played a role.
MENA Brief – June 16: Netanyahu eyes Gaza breakthrough, Iran rejects talks, Trump at G7, UAE oil giant bids big
Israeli Prime Minister Benjamin Netanyahu says there’s a fresh opening to free hostages held in Gaza, backing a US-mediated proposal...In major energy news, Abu Dhabi’s state-owned oil company has launched an $18.7 billion takeover bid for Australia’s Santos, offering a 28% premium
The UAE’s economic momentum remains strong: its GDP grew 4% in 2024 to AED1.77 trillion, driven by a 5% rise in non-oil sectors
Boeing lowers 2044 global air fleet outlook amid supply chain woes
New York, United States -- The global commercial aviation fleet will stand just under 50,000 planes in 2044, with most...The global commercial aviation fleet will stand just under 50,000 planes in 2044, with most built over the next 20 years, according to a Boeing forecast released Saturday.
The global fleet will nearly double to 49,600, a bit below Boeing's prior annual outlook, the company said ahead of the giant Paris Air Show beginning Monday.
IBM claims ‘real world’ edge in quantum computing race
San Francisco, United States -- Technology veteran IBM on Tuesday laid out a plan to have a "practical" quantum computer...Current quantum computers are still experimental and face significant challenges, including high error rates.
Companies like IBM, Google, and others are working to build more stable and scalable quantum systems.
World Bank cuts growth forecast on trade tumult, warns of ‘deep’ harm
The bank lowered its projection for global GDP growth to 2.3 percent in its latest economic prospects report, down from..."That's the weakest performance in 17 years, outside of outright global recessions," said World Bank Group chief economist Indermit Gill.
By 2027, the World Bank expects global GDP growth to average 2.5 percent in the 2020s, which would be the slowest rate in any decade since the 1960s.
From Iran Talks to Dubai Metro: Key Middle East Developments You Need to Know on June 10, 2025
Key developments across the Middle East today highlight regional diplomatic, economic and humanitarian trendsSheikh Mohammed launches 30km expansion featuring world's highest metro station (74m) to serve growing population
After 12-year exclusion, Damascus prepares to reconnect to global banking network to formalize trade
Saudi Arabia’s real GDP grows by 3.4 percent in Q1 mainly on non-oil activities
Riyadh, Saudi Arabia -- Saudi Arabia’s first quarter real Gross Domestic Product (GDP) grew by 3.4 percent year-on-year, according to...Sectors such as wholesale and retail trade, restaurants, and hotels led the way, recording an impressive 8.4% annual growth, reflecting a rebound in consumer demand and tourism.r
On a quarterly basis, seasonally adjusted real GDP rose by 1.1 percent compared to Q4 2024, signaling continued economic momentum into the year.
US, China seek to extend trade truce with London talks
After a round of talks in Geneva last month, the United States and China will sit down at the negotiating...US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer will lead the US delegation
Chinese Vice Premier He Lifeng - who led Beijing's negotiating team in Geneva - will also lead the team in London, the foreign ministry announced at the weekend
Key MENA trends: M&A surge to five-year high, Saudi port activity rises in May
Qatar's foreign reserves rise 3.6 percent year-on-year despite a dip in bonds and treasury holdings, Iraq releases Australian and Egyptian...Egypt and Turkey continue their coordination on ceasefire efforts and humanitarian aid, as diplomatic momentum struggles against on-ground escalation.
The ICRC has warned that the healthcare system is on the brink of collapse, with medical infrastructure under increasing strain from ongoing hostilities.
Trump says Musk has ‘lost his mind’ as feud fallout mounts
Washington, United States - US President Donald Trump said Friday that Elon Musk had "lost his mind" but insisted he...The blistering public break-up between the world's richest person and the world's most powerful is fraught with political and economic risks all round
Trump had scrapped the idea of a call with Musk and was even thinking of ditching the red Tesla he bought at the height of their bromance, White House officials told AFP
