OPEC+ expected to open taps more despite price slump
The Organization of the Petroleum Exporting Countries and their allies - collectively known as OPEC+ - have justified their change...
Economy
China’s Xiaomi to invest nearly $7 bn in chips
Chinese tech giant Xiaomi will invest 50 billion yuan ($6.9 billion) in developing high-end smartphone chips, the firm's founder said...
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Business
General Gulf inflation rate logs 1.7% by end of Dec 2024
Muscat, Oman -- The general inflation rate in the GCC countries rose by 1.7 percent at the end of December...
- The increase is primarily driven by a 5.9 percent increase in housing prices and a 2.8 percent rise in the prices of goods and services.
- The culture and entertainment group recorded a 1.8 percent increase, while both the food and beverages group and the education group rose by 1.2 percent each.
Business
US stocks move sideways but poised for weekly gains
The S&P 500 has risen the last four sessions, extending the positive momentum after last weekend's trade talks resulted in...
- The broad-based S&P 500 added 0.1 percent at 5,923.30, while the tech-rich Nasdaq Composite Index gained 0.2 percent to 19,146.48.
- Broadband and cable company Charter Communications gained 2.5 percent after announcing a deal to acquire Cox Communications for $34.5 billion.
Economy
Tehran says no objection to US investment in Iran
Iranian Foreign Minister Abbas Araghchi said Thursday that Tehran has no objection to US companies operating in the country, including...
- "We have no ban on the economic presence of American companies in Iran," Araghchi said, attributing the lack of US business activity to primary sanctions imposed by Washington
- His remarks come after President Donald Trump said Washington was "getting close" to a new nuclear deal with Tehran to replace the one he abandoned during his first term in 2018
Economy
US, China to slash tariffs as Trump to speak to Xi
After the first meetings between Washington and Beijing since Trump ratcheted up his trade war, the world's two biggest economies...
- The world's two biggest economies agreed in a joint statement to bring their triple-digit tariffs down to two figures and continue negotiations
- China hailed the "substantial progress" made at the talks, held at the discreet villa residence of Switzerland's ambassador to the United Nations in Geneva
Economy
US, China to publish details of ‘substantial’ trade talks in Geneva
The US and China will Monday give details of "substantial progress" touted by Washington on trade talks aimed at ending...
- It was the first time senior officials from the world's two largest economies have met face-to-face to talk trade since Trump imposed steep new levies on China totalling 145%
- The trade spat between Washington and Beijing has rocked financial markets and raised fears of a global economic slowdown and an inflationary spike in the United States
Economy
Asian markets rally after positive China-US trade talks
Asian stocks rallied Monday after top Chinese and US officials held "substantial" trade talks at the weekend, fuelling hopes the...
- Investors have been on a rollercoaster ride since Donald Trump unveiled eye-watering tolls on trading partners on April 2
- The US president eventually hiked the measures against China to 145 percent, which were met with retaliatory rates of 125 percent
Economy
Washington hails ‘substantive progress’ after trade talks with China
Washington expressed optimism at the end of a weekend of trade talks with China aimed to de-escalate trade tensions sparked...
- The meetings marked the first time senior officials from the two countries met since Trump slapped steep levies on China
- After the first day of negotiations, Trump had posted on Truth Social that the discussions had been "very good"
Economy
Trump hails ‘total reset’ in US-China trade relations as talks continue
Geneva, Switzerland - US President Donald Trump hailed a "total reset" in US-China trade relations, ahead of a second day...
- The discussions are the first time senior officials from the world's two largest economies have met face-to-face to tackle the thorny topic of trade
- Ahead of the meeting, Trump signaled he might lower the tariffs, suggesting on social media that an "80% Tariff on China seems right!"
Economy
US and China meet in ‘important step’ towards de-escalating trade war
Geneva, Switzerland - Senior US and Chinese officials were meeting in Geneva Saturday in what Chinese state media described as...
- US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer were holding talks with Chinese Vice Premier He Lifeng
- The talks were being held at the residence of the Swiss ambassador to the United Nations in Geneva
Economy
US and China prepare for trade talks as Trump floats tariff cut
Senior US and Chinese officials are in Switzerland this weekend for talks aimed at de-escalating a burgeoning trade war sparked...
- Tariffs imposed on the Asian manufacturing giant since the start of the year currently total 145 percent, with cumulative duties on some goods reaching a staggering 245 percent.
- In retaliation, China slapped 125 percent levies on US goods, cementing what is effectively a trade embargo between the world's two largest economies
OPEC+ expected to open taps more despite price slump
The Organization of the Petroleum Exporting Countries and their allies - collectively known as OPEC+ - have justified their change...
Economy
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Tehran says no objection to US investment in Iran
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US, China to slash tariffs as Trump to speak to Xi
After the first meetings between Washington and Beijing since Trump ratcheted up his trade war, the world's two biggest economies...
Economy
US, China to publish details of ‘substantial’ trade talks in Geneva
The US and China will Monday give details of "substantial progress" touted by Washington on trade talks aimed at ending...
Economy
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Economy
Washington hails ‘substantive progress’ after trade talks with China
Washington expressed optimism at the end of a weekend of trade talks with China aimed to de-escalate trade tensions sparked...
- The meetings marked the first time senior officials from the two countries met since Trump slapped steep levies on China
- After the first day of negotiations, Trump had posted on Truth Social that the discussions had been "very good"
Economy
Trump hails ‘total reset’ in US-China trade relations as talks continue
Geneva, Switzerland - US President Donald Trump hailed a "total reset" in US-China trade relations, ahead of a second day...
- The discussions are the first time senior officials from the world's two largest economies have met face-to-face to tackle the thorny topic of trade
- Ahead of the meeting, Trump signaled he might lower the tariffs, suggesting on social media that an "80% Tariff on China seems right!"
Economy
US and China meet in ‘important step’ towards de-escalating trade war
Geneva, Switzerland - Senior US and Chinese officials were meeting in Geneva Saturday in what Chinese state media described as...
- US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer were holding talks with Chinese Vice Premier He Lifeng
- The talks were being held at the residence of the Swiss ambassador to the United Nations in Geneva