AI or inequality tipped for economics Nobel
Stockholm, Sweden - The Nobel economics prize wraps up the 2025 season when it is announced on Monday, as experts...
Economy
WTO hikes 2025 trade growth outlook but tariffs to bite in 2026
The WTO raised its forecast for trade volume growth in 2025 to 2.4 percent -- up from 0.9 percent in...
Economy
Economy
Saudi stocks take 5-year record fall, plunge nearly 7% after US tariffs spark global market turmoil
Other Gulf markets also took a dive, reflecting global trends as countries around the world grapple with Trump's shock tariffs...
- President Donald Trump's tariff offensive unleashed this week has sparked a global stock market rout, also raising fears of a general trade war and recession
- State-run financial newspaper Al-Eqtisadiah said that "the Saudi stock market lost more than half a trillion riyals (about $133 billion) in market value during Sunday's trading"
Economy
Trump’s global tariff takes effect in dramatic US trade shift
US President Donald Trump's widest-ranging tariffs to date took effect Saturday, in a move which could trigger retaliation and escalating...
- The trade gaps, said the White House, were driven by an "absence of reciprocity" in relationships and other policies like "exorbitant value-added taxes."
- Come April 9, around 60 trading partners -- including the European Union, Japan and China -- are set to face even higher rates tailored to each economy
Geostrategy
Nations divided ahead of decisive week for shipping emissions
London, United Kingdom -- Members of the International Maritime Organization (IMO) are divided over whether to approve a carbon tax on...
- The carbon tax, the most ambitious measure on the table, would make it more expensive for shipping companies to emit greenhouse gases, encouraging them to curtail emissions.
- But some member states, including China and Brazil, are proposing other measures, arguing the carbon levy would increase the cost of goods and contribute to food insecurity.
Business
Stocks, oil slump as China retaliates and Trump digs in heels
Despite the market turmoil, Trump insisted: "my policies will never change". Wall Street stocks fell more than two percent at...
- Beijing also imposed exports controls on seven rare earth elements, including gadolinium -- commonly used in MRIs -- and yttrium, utilized in consumer electronics.
- French President Emmanuel Macron has called for suspending investment in the United States until what he called the "brutal" new tariffs had been "clarified".
Economy
Trump defiant as tariffs send world markets into panic
Wall Street led a global markets bloodbath Thursday as countries around the world reeled from President Donald Trump's trade war,...
- Shock waves tore through markets in the United States, Europe and Asia after Trump's tariff bombshell
- Trump dismissed the turmoil, insisting to reporters as he left for a weekend at his Florida golf resort that stocks will "boom."
Economy
Trump’s tariffs on allies, China could shrink global merchandise trade volumes 1% in 2025, warns WTO
After Trump on Wednesday unveiled a blitz of harsher-than-expected levies aimed at countries around the globe, Ngozi Okonjo-Iweala warned the measures...
- Trump slapped 10 percent import duties on all nations and far higher levies on imports from dozens of specific countries including China
- Trump's tariffs come just over a year and a half before US midterm elections, in which the party of the US president is often hammered on the economy
Economy
Trump stings friends and foes alike in his tariffs war, countries eye trade talks
The tariff announcements rattled stock markets while safe haven gold hit a new record high, oil prices fell and the...
- China demanded that the tariffs be "immediately cancelled" and vowed "countermeasures", while France and Germany warned that the EU could hit US tech firms.
- But EU and other countries also showed willingness to negotiate as they refrained from immediate retaliatory measures, with almost a week until the harsher US levies take effect.
Economy
China says opposes new US tariffs, vows ‘countermeasures’
China on Thursday said it "firmly opposes" sweeping new US tariffs on its exports and vowed "countermeasures to safeguard its...
- US President Donald Trump has ignited a potentially ruinous global trade war after imposing 10 percent levies on imports from around the world
- Beijing responded to those tariffs with levies of up to 15 percent on a range of US agricultural goods including soybeans, pork and chicken
Science
World’s tiniest pacemaker is smaller than grain of rice
Paris, France -- Scientists said Wednesday they have developed the world's tiniest pacemaker, a temporary heartbeat regulator smaller than a...
- While still years away from being tested in humans, the wireless pacemaker was hailed as a "transformative breakthrough" that could spur advances in other areas of medicine.
- Millions of people across the world have permanent pacemakers, which stimulate hearts with electrical pulses to ensure they beat normally.
Economy
Trump puts world on edge as ‘Liberation Day’ tariffs loom
Trump kept rivals and allies alike guessing about who would be targeted and by how much, but promised to be...
- A fan of tariffs for decades, Trump said that he had "settled" on a plan but kept the world in suspense as he refused to reveal the details.
- He would only say that the tariffs would be lower than what other countries would be charging the United States, adding that "we sort of have a world obligation perhaps."
AI or inequality tipped for economics Nobel
Stockholm, Sweden - The Nobel economics prize wraps up the 2025 season when it is announced on Monday, as experts...
Economy
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US Fed chair opens door to rate cut as Trump steps up pressure
Last year, the Fed chair used his keynote speech at the Jackson Hole Economic Policy Symposium to indicate the time...
Economy
AI helps UK woman rediscover lost voice after 25 years
London, United Kingdom -- A British woman suffering from motor neuron disease who lost her ability to speak is once...
Science
Less tax, more luxury: millionaires flock to Dubai for its zero income tax policy
Rich people are flocking to Dubai in record numbers, drawn to the desert city by its zero income tax policy...
Economy
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Economy
Asian markets creep up as investors await key speech
Hong Kong, China - Asian markets edged mostly upward in muted morning trading on Thursday, one day before a key...
- US Federal Reserve Chairman Jerome Powell, who has resisted public demands by President Donald Trump to cut rates, is scheduled to deliver remarks Friday
- Data last week provided a mixed picture of US inflation, making it uncertain if the Fed will lower rates as many investors expect in September
Economy
Gross national income of GCC countries hits $2.143 trillion
Muscat, Oman -- The latest data released by the Statistical Centre for the Cooperation Council for the Arab Countries of...
- The value of disposable national income (available for consumption and savings after deducting taxes and other transfers) amounted to US$1.989 trillion.
- The data indicate that the contribution of the non-oil sector to the GCC’s Gross Domestic Product (GDP) at current prices rose to 71.5 percent by the end of 2023.
Economy
Trump says semiconductor tariffs coming soon
"I'll be setting tariffs next week and the week after, on steel and, I would say, chips. Chips and semiconductors,...
- Trump said the levy rate would be "lower at the beginning" but "very high after a certain period of time," as a way to encourage businesses to relocate operations to the US.
- On August 6, Trump announced a 100 percent tariff on semiconductors from firms that do not invest in the United States.