Closure of Strait of Hormuz may trigger lasting shift in Gulf trade corridors: report
About $650 billion in trade flows are affected, with global maritime routes facing growing disruption and uncertainty risks.
Economy
Geopolitics, risk aversion and crypto: Why this time may be different
Bitcoin has already endured five consecutive months of declines since reaching an all-time high of $126,500 in October 2025. February...
Opinion
Business
Nvidia tops $4 trillion as US stocks shrug off latest tariffs
After Congress gave Trump a big win last week with his fiscal package, the Republican's aggressive trade posture has returned...
- But stocks pushed higher nonetheless, with Nvidia jumping 2.5 percent to top $4 trillion in market capitalization on investor bullishness over Artificial Intelligence (AI) growth.
- Briefing.com analyst Patrick O'Hare said investors are not "overly concerned" about Trump's latest tariff threats.
Geostrategy
Trump says ‘no extensions’ to Aug 1 tariff deadline
While Trump imposed a sweeping 10 percent tariff on goods from almost all trading partners in April, higher rates customized...
- On Monday night, Trump had told reporters at a dinner that the August 1 deadline was "firm, but not 100 percent firm."
- Pressed on whether the letters were his final offer, Trump replied: "I would say final -- but if they call with a different offer, and I like it, then we'll do it."
Geostrategy
Trump warns of 10% additional tariff for countries aligning with BRICS’ policies
BRICS leaders on Sunday described Trump's stop-start tariff wars as "indiscriminate", damaging, and illegal, drawing a quick rebuke from the...
- The 11-nation grouping -- which also includes US allies Brazil, Saudi Arabia, and Indonesia -- is concluding a two-day summit in Rio de Janeiro.
- BRICS members account for about half the world's population and 40 percent of global economic output.
Economy
US tariffs to kick in Aug 1 barring trade deals: Treasury Secretary
Washington, United States -- US tariffs will kick in on August 1 if trading partners from Taiwan to the European...
- The tariffs were part of a broader announcement in April where Trump imposed a 10 percent duty on goods from almost all trading partners.
- Countries have been pushing to strike deals that would help them avoid these elevated duties.
Economy
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...
- Since coming to office in January, Trump has threatened allies and rivals alike with a slew of punitive duties.
- His latest salvo comes in the form of letters informing trading partners of new tariff rates that will soon enter into force.
Business
Meta’s AI talent war raises questions about strategy
New York, United States -- Mark Zuckerberg and Meta are spending billions to recruit top artificial intelligence talent, triggering debates...
- OpenAI CEO Sam Altman recently complained that Meta has offered $100 million bonuses to lure engineers away from his company.
- Several OpenAI employees have accepted Meta's offers, prompting executives at the ChatGPT maker to scramble to retain their best talent.
Business
Trump metal tariffs wreak havoc on US factory
Belcamp, United States -- In the sweltering US summer, metal containers decorated with snowmen and sleighs are taking shape --...
- At Independent Can's factory in Belcamp, Maryland northeast of Baltimore, CEO Rick Huether recounts how he started working at his family's business at age 14.
- Huether, now 73, says he is determined to keep his manufacturing company afloat for generations to come. But Trump's tariffs are complicating this task.
Economy
G7 to exempt US multinationals from global minimum tax
The deal will see US companies benefit from a "side-by-side" solution under which they will only be taxed at home,...
- Nearly 140 countries struck a deal in 2021 to tax multinational companies, an agreement negotiated under the auspices of he Organization for Economic Co-operation and Development.
- That agreement, deeply criticized by Trump, includes two "pillars," the second of which sets a minimum global tax rate of 15 percent.
Economy
World Bank announces Lebanon, Syria reconstruction projects
Beirut, Lebanon -- The World Bank announced on Wednesday it had approved $250 million to support Lebanon's post-war reconstruction and...
- Lebanon is reeling from last year's devastating war between Israel and Iran-backed Hezbollah, while Syria faces massive needs after the fall of Bashar al-Assad regime.
- The grant comes after Saudi Arabia and Qatar said they would pay off Syria's World Bank debt, and as the country's new rulers press reconstruction efforts.
Economy
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...
- The Fed has held the benchmark lending rate steady since its last reduction in December, bringing the level to a range between 4.25 percent and 4.50 percent.
- Last week, Powell told reporters that it would make smarter decisions if it waited to understand how Trump's tariffs impact the economy.
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Closure of Strait of Hormuz may trigger lasting shift in Gulf trade corridors: report
About $650 billion in trade flows are affected, with global maritime routes facing growing disruption and uncertainty risks.
Economy
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Syria reveals new post-Assad banknotes
Syrian leader Ahmed al-Sharaa unveiled on Monday new banknotes replacing those showing ousted ruler Bashar al-Assad and his family, hoping...
Economy
Prone to conflict, displacement, climate shocks, investing in cities is a strategy for global stability
Addressing fragility in cities is, therefore, not only a social imperative; it is also a crucial economic consideration. It is...
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China says to launch digital currency action plan
Beijing, China -- China will on January 1 launch an "action plan" for boosting management and operations of its digital...
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Saudi Arabia’s high-stakes race toward Vision 2030: Diversifying amid global uncertainty
Moving forward, lower oil revenues will continue to pose challenges to the Saudi economy and its overall targets. Earlier this...
- As non-oil growth accelerates and private investment rises, the Kingdom faces the challenge of sustaining momentum without overstretching its fiscal limits
- Vision 2030 is reshaping the Kingdom’s economy at unprecedented speed, but sustaining growth amid lower oil revenues will test policymakers
Economy
Syria to start replacing currency from Jan 1: central bank chief
Syria's central bank chief said Thursday that the country's currency would start to be replaced with a revamped version from...
- Central bank chief Abdul Qadir al-Hasriya said that "January 1, 2026, is the start date for the replacement process" for the currency
- Hasriya said the move comes at a "pivotal national juncture that reflects the beginning of a new economic and monetary era"
Economy
“New Suez Canal on rails”: Egypt high-speed trains to connect Red Sea, Mediterranean
Workers have started laying tracks in the desert east of Cairo for Egypt's first high-speed train, which will link the...
- The Green Line, as it is known, is the latest of a long list of megaprojects undertaken by El-Sisi's government in the past decade
- The Green Line will run across the country's north, from Ain Sokhna on the Red Sea to Marsa Matrouh on the Mediterranean