The bank has raised its interest rates to tame inflation..

The bank would initiate a share buyback of up to US$2 billion.

"(US Federal Reserve Chair Jerome) Powell's focus on verifying inflation's trajectory is in line with the central bank's dual mandate of ensuring price stability and maximum sustainable employment. The bond market's reaction, with rising yields, signifies a shift in expectations about the inflationary landscape and the Fed's anticipated response," he...

The US Federal Reserve's favored measure of inflation ticked higher last month, according to government data published. The latest announcement will likely ensure the US central bank keeps interest rates on hold at its next decision announcement on Wednesday, as policymakers continue talks on when to start cuts.

Beijing first moved against the gaming sector in 2021 as part of a sprawling crackdown on big tech, including a strict cap on the amount of time children could spend playing online. But the draft regulations announced Friday would introduce limits on recharging in-game wallets and abolish features meant to...

Cairo, Egypt – The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) has kept the current key interest rates unchanged in its final meeting of 2023.  The decision leaves the overnight deposit rate at 19.25 percent, the overnight lending rate at 20.25 percent, the main operation rate...

Abu Dhabi, UAE – The Central Banks of the United Arab Emirates and Qatar have chosen to maintain their current interest rates, in a coordinated move echoing the US Federal Reserve's recent decision, underlining a synchronized approach to monetary policy in the Gulf Cooperation Council (GCC) region. UAE's Monetary Policy...

The US tightening sanctions on Iranian oil could have a negative impact on individual and institutional investment portfolios by disrupting the energy sector, contributing to inflationary pressures, and intensifying geopolitical risks. You need to be aware of the risks – but also the opportunities, he adds.

Riyadh, Saudi Arabia - The world should be prepared that the interest rates are here to stay for a longer duration, Managing Director of the International Monetary Fund Kristalina Georgieva said at the Future Investment Initiative (FII) conference in Riyadh.  “We want to see the normalization of the monetary policy...

Paris, France - Stock markets slid on Monday, extending last week's sell-off n fears of a regional conflict in the Middle East and worries that US interest rates will remain elevated for longer than initially thought. The concerns about US interest rates have also been affecting bond markets, with the yield...

London, United Kingdom - European and US stock markets fell Thursday as investors worried over rising US Treasury yields and the Israel-Hamas crisis potentially growing into a wider conflict in the Middle East. Wall Street opened higher after falling the previous day, but slid into loss during morning trading, while Europe's...

Influenced by global inflation concerns and high rates, Gulf markets faced second consecutive monthly dip in September. Only Dubai and Qatari markets resisted the trend.

Influenced by global inflation concerns and high rates, Gulf markets faced second consecutive monthly dip in September. Only Dubai and Qatari markets resisted the trend.

This trend, driven by affluent investors and global rate hikes, underscores the city's robust economic allure and the confidence investors place in its property market.

Global stocks sank after the US Federal Reserve hinted it could hike interest rates again this year to tame inflation and other central banks warned they were not done either. London stocks bucked that trend, however, after the Bank of England held interest rates steady after 14 hikes.

The Fed has raised interest rates 11 times over the last 18 months, lifting its key lending rate to a level not seen for 22 years as it tackles inflation still stubbornly above its long-term target of two percent. Goldman Sachs cut their forecast for a recession in the US...

GCC banks experienced robust lending growth during Q2-2023, despite multi-decade high rates from US hikes, with loans from GCC-listed banks hitting a record $1.9 trillion.

Wall Street's three main indexes ended a volatile August on a tepid note Thursday after data showed the Fed's preferred gauge of inflation -- the personal consumption expenditures index -- ticked a little higher in July.

Washington, United States - Economic growth in the United States was weaker than first estimated for the April to June period, the Commerce Department said Wednesday, noting downward revisions in business investment. GDP growth in the world's biggest economy came in at 2.1 percent for the second quarter, down from the...

Rising rates and global slowdown pose challenges for economic growth and investment in Arab countries, which expect to expand at 3.4% in 2023, down from 5.6% in 2022.

A highly anticipated report showed July consumer prices rose more than the previous month but less than feared, giving the US central bank room to take a lighter touch with monetary policy after more than a year of tightening.The data also showed closely watched core inflation was easing, while jobless...

Cairo, Egypt – In a surprising move, the Central Bank of Egypt (CBE) announced on Thursday that it has raised interest rates by 100 basis points to contain the rising inflationary pressures. The lending rate was increased to 20.25 percent, and the deposit rate to 19.25 percent, while the credit...

Geopolitical tensions, such as the Russian-Ukrainian war and the trade war between the United States and China, have sent shockwaves through the oil market, says an expert.

The new figure comes as Turkey radically shifts its policies since the May election that includes an end to more than a two-year era of ultra-low interest rates. Last week, the central bank revised its year-end inflation forecast to 58 percent from 22.3 percent after years of doubts from independent...

Gulf real estate hit $90.7 billion in the first half of 2023, a 9.9% rise y-o-y, as Dubai led the market with a 57 percent increase, fueled by demand for luxury properties.

Revenue jumped $12.3 billion to $36.9 billion.

The Fed last month halted its aggressive campaign of monetary tightening after 10 consecutive rate increases to give policymakers more time to assess the health of the world's largest economy. At the June meeting, members of the rate-setting Federal Open Market Committee (FOMC) nevertheless indicated they see possibly two additional...

The Fed paused its aggressive campaign of monetary tightening last month to give policymakers more time to assess the health of the US economy, and the impact of recent banking stresses on lending conditions. In the weeks since, positive upgrades to economic growth and cooler inflation data have reinforced the...

Revenues surged 47 percent to $24.9 billion.

"Now is the time to face the three uncomfortable truths ... Inflation remains sticky; financial stresses could make price and financial stability a difficult balancing act; and more upside inflation risks will likely come our way," she adds, emphasizing the crucial role that the return to price stability plays in...

Washington, United States - US economic growth came in at two percent in the first quarter this year, the Commerce Department said Thursday, making a significant upward revision to earlier estimates partly on stronger-than-expected consumer spending. While GDP growth in the world's biggest economy has still cooled from 2.6 percent in...

The Fed recently paused its aggressive cycle of rate increases after 10 consecutive hikes, to give policymakers more time to weigh the effects of existing moves on inflation. At the same meeting, a majority of members on the Fed's rate-setting committee indicated they see interest rates rising twice more before...

The central bank has hiked rates at the fastest pace ever over the past year in a bid to cool inflation after Russia's war in Ukraine sent energy and food prices surging.

The more positive environment came as concerns over Russia subsided following an aborted uprising, though developments in the nuclear-armed country are being closely followed. Sentiment was also boosted by comments from Chinese Premier Li Qiang, who said the government would roll out fresh measures to kickstart the nation's struggling economy...

Despite global economic challenges such as the crisis, inflation, and high interest rates, the GCC banking sector has shown impressive growth and adaptability. Utilizing technology and responding to evolving market dynamics, it continues to thrive. According to Elham Mahfouz, CEO of the Commercial Bank of Kuwait, the region's banks remain...

Expectations the Fed will stand pat next week -- for the first time since starting its hiking cycle last year -- pushed equities higher for most of the month, helped by the end of the US debt ceiling standoff. Confidence was dealt a blow this week by the Bank of...

The eurozone entered into a technical recession at the start of the year, shrinking by 0.1 percent for a second consecutive quarter, figures from the EU's statistic agency showed. Eurostat revised down an earlier forecast that had predicted slight growth, after economic powerhouse Germany said last month it had fallen...

Turkey's Recep Tayyip Erdogan has been sworn in for a third term as president, promising to serve "impartially" after winning a runoff election. "As president, I swear upon my honor and integrity, before the great Turkish nation ... to work with all my power to protect the existence and independence...

Hiring in the United States heated up again in May, according to government data released, with the strong labor market defying expectations of a slowdown amid efforts to cool the world's biggest economy. The jobs market has been surprisingly robust even as regulators have worked to ease demand and tamp...

Geneva, Switzerland - Soaring debt levels compounded by high inflation and rising interest rates have dashed job-seekers’ hopes in developing countries, the International Labour Organisation (ILO) warned on Wednesday. In its new Monitor on the World of Work report, ILO shows that while in high-income countries, only 8.2 percent of...

Turkey's longest-serving leader surmounted a powerful opposition coalition, an economic crisis and anger following a devastating February earthquake to beat secular challenger Kemal Kilicdaroglu in Sunday's vote. But his four-point victory margin was Erdogan's narrowest of any past election, highlighting the country's sharp polarisation that the Islamic-rooted conservative will contend...

Dividends across the world spiked 12% in Q1 compared to the same period in 2022, which was already an all-time high, according to the report by asset management firm Janus Henderson. "The dividend growth is all the more impressive considering that 2022 was a difficult year because of high inflation...

There are three reasons why the Fed should not increase interest rates further: First, the US financial system is still fragile. Second, the effects of rate hikes take a long time to filter through the economy, and third, the bond market is suggesting a possible recession, adds Green.

"It appears that the central bank is willing to sacrifice parts of the economy and tighten its grip on households and businesses to combat inflation. However, this strategy risks doing more harm than good. It is crucial now that they refrain from further rate hikes to salvage their own credibility,"...

The regional apex banks -- including the CBUAE, SAMA, CBB, and QCB -- have raised rates by 25bps in response to the US Fed's decision to increase its benchmark lending rate.

Germany, the EU's biggest economy, saw growth stagnate at zero percent over the previous quarter. Year-on-year, Germany was the only country in the single-currency zone to record a contraction, of 0.1 percent.

Wall Street stocks pushed higher despite data that showed US economic growth is slowing, which raised fresh questions about interest rates hikes. The dollar rose against the euro and yen after the data showed US gross domestic product rose at an annual rate of 1.1 percent in the January to...

The bank's profit was boosted by rising interest rates.

US consumer confidence fell more than many predicted in April, fueled by a deterioration in expectations among Americans over 55 and households with annual incomes over $50,000, according to survey data released. The pessimistic results may ease some of the pressure on the Federal Reserve as it prepares to consider...

The US should continue tightening monetary policy to bring down inflation while assessing the impact of last month's financial turmoil on bank lending, a top Federal Reserve official said. "How much further will depend on incoming data on inflation, the real economy and the tightening credit conditions," Federal Reserve governor...