Most markets rise as China-US tariff truce extended, US inflation data in focus
In an executive order, the White House reiterated its position that there are "large and persistent annual US goods trade...
Economy
Trump announces 100% chip tariff, pressuring Asian producers
The US president unveiled the levy at the White House on Wednesday ahead of the imposition of sweeping tariffs on...
Economy
Economy
Trump says to raise tariff on India over Russia oil purchases
President Donald Trump threatened Monday to "substantially" hike US tariffs on goods from India over its purchases of Russian oil...
- Trump's heightened pressure on India comes after he signaled fresh sanctions on Moscow if it did not make progress by Friday towards a peace deal with Kyiv
- Moscow is anticipating talks with the US leader's special envoy Steve Witkoff, who is expected to meet President Vladimir Putin this week
Business
Jordan sees decrease in number of tourists over Gaza war
Amman, Jordan -- Jordan has seen a decrease in the number of tourists visiting its famed ancient city of Petra...
- According to figures from the Petra tourism authority carried by official media, 32 hotels have had to shut down and nearly 700 people have lost their jobs.
- Petra, famous for its stunning temples hewn from rose-pink cliff faces, is a UN World Heritage site.
Economy
AI search pushing an already weakened media ecosystem to the brink
New York, United States - Generative artificial intelligence assistants like ChatGPT are cutting into traditional online search traffic, depriving news...
- A recent Pew Research Center study reveals that AI-generated summaries now appearing regularly in Google searches discourage users from clicking through to source articles
- This represents a devastating loss of visitors for online media sites that depend on traffic for both advertising revenue and subscription conversions
Economy
Qatar to expand scheme to boost Syria power supply
Qatar is to expand its scheme to boost the power supply in Syria by paying for deliveries of Azerbaijani gas...
- The deliveries, aimed at alleviating chronic power outages in Syria, will increase the Qatari scheme's generating capacity to 800 megawatts per day
- A first phase of the Qatari scheme to fund gas supplies for power generation rolled out in March via Jordan and provided 400 megawatts of electricity per day
Economy
World economies reel from Trump’s tariffs
The tariffs are a demonstration of raw economic power that Trump sees putting US exporters in a stronger position while...
- But the muscular approach has raised fears of inflation and other economic fallout in the world's biggest economy.
- Stock markets in Hong Kong and London slumped as they digested the turmoil.
Economy
Trump’s global trade policy faces test, hours from tariff deadline
The last-gasp scramble to strike bilateral accords came as an appeals court in Washington considered the legality behind Trump's strategy...
- Trump doubled down on the wide-ranging levies, posting on Truth Social: "Tariffs are making America GREAT & RICH Again."
- So far, Washington has announced pacts with Britain, Vietnam, Japan, Indonesia, the Philippines, South Korea and the European Union.
Business
Saudi Arabia’s real GDP up by 3.9 percent in Q2 2025: GASTAT
Riyadh, Saudi Arabia -- Saudi Arabia's real Gross Domestic Product (GDP) grew by 3.9 percent in the second quarter of...
- Flash estimates of GDP for Q2 say non-oil activities recorded the highest growth at 4.7 percent.
- The estimates, released by GASTAT, said oil activities grew by 3.8 percent and government activities at 0.6 percent.
Business
Microsoft valuation surges above $4 trillion as AI lifts stocks
Shares of Microsoft vaulted 5.3 percent after it reported $27.2 billion in quarterly profits as it touted massive investments in...
- About 25 minutes into trading, the tech-rich Nasdaq Composite Index was up 1.3 percent at 21,396.04.
- The gains came as President Donald Trump announced a trade deal with South Korea that imposes a 15 percent tariff on imports from the Asian country.
Economy
Trump hits India with 25% tariff and ‘penalty’ over Russia ties
US President Donald Trump said Wednesday that imports from India will face 25 percent tariffs, while also announcing an unspecified...
- The measures will kick in on Friday, Trump posted on his Truth Social platform, adding to a bevy of other tariff hikes -- some up to 50 percent -- set to take effect the same day
- He had previously issued multiple delays to his so-called "reciprocal" tariffs since first announcing them in early April, while instituting an interim 10 percent baseline
Economy
IMF lifts 2025 global growth forecast on ‘fragile’ easing in trade tensions
Looking ahead, the IMF expects the world economy to expand 3.1 percent next year, an improvement from the 3.0 percent...
- Despite the upward revisions, "there are reasons to be very cautious," IMF chief economist Pierre-Olivier Gourinchas told AFP.
- "Businesses were trying to frontload, move stuff around, before the tariffs were imposed, and so that's supporting economic activity," he said.
Most markets rise as China-US tariff truce extended, US inflation data in focus
In an executive order, the White House reiterated its position that there are "large and persistent annual US goods trade...
Economy
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IMF says Omicron could slow global growth
According to the economists, Omicron's threat to economy will likely be less severe than the previous waves.
Qatar takes key step to control own airspace
Qatar said on Tuesday that it has been given a preliminary green light by a UN body on a proposal...
G20 ministers set to green light global tax reform
Finance ministers from the G20 richest nations are expected to give the green light Saturday to a historic deal to...
Saudi Arabia to generate $150 billion in investments from its new transport policy
The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private...
Saudi Arabia to create 40,000 jobs for its nationals
Job creation is part of Saudi strategy to help residents obtain high-quality jobs The strategy seeks to push more Saudi...
AI search pushing an already weakened media ecosystem to the brink
New York, United States - Generative artificial intelligence assistants like ChatGPT are cutting into traditional online search traffic, depriving news...
Economy
Qatar to expand scheme to boost Syria power supply
Qatar is to expand its scheme to boost the power supply in Syria by paying for deliveries of Azerbaijani gas...
Economy
World economies reel from Trump’s tariffs
The tariffs are a demonstration of raw economic power that Trump sees putting US exporters in a stronger position while...
Economy
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Business
Saudi Arabia’s real GDP up by 3.9 percent in Q2 2025: GASTAT
Riyadh, Saudi Arabia -- Saudi Arabia's real Gross Domestic Product (GDP) grew by 3.9 percent in the second quarter of...
- Flash estimates of GDP for Q2 say non-oil activities recorded the highest growth at 4.7 percent.
- The estimates, released by GASTAT, said oil activities grew by 3.8 percent and government activities at 0.6 percent.
Business
Microsoft valuation surges above $4 trillion as AI lifts stocks
Shares of Microsoft vaulted 5.3 percent after it reported $27.2 billion in quarterly profits as it touted massive investments in...
- About 25 minutes into trading, the tech-rich Nasdaq Composite Index was up 1.3 percent at 21,396.04.
- The gains came as President Donald Trump announced a trade deal with South Korea that imposes a 15 percent tariff on imports from the Asian country.
Economy
Trump hits India with 25% tariff and ‘penalty’ over Russia ties
US President Donald Trump said Wednesday that imports from India will face 25 percent tariffs, while also announcing an unspecified...
- The measures will kick in on Friday, Trump posted on his Truth Social platform, adding to a bevy of other tariff hikes -- some up to 50 percent -- set to take effect the same day
- He had previously issued multiple delays to his so-called "reciprocal" tariffs since first announcing them in early April, while instituting an interim 10 percent baseline