US Fed keeps interest rates unchanged in face of Trump criticism
Fed Chair Jerome Powell told reporters the central bank would make better decisions if it waited a few months to...
Economy
Cross-border payments and financial inclusion drive stablecoin popularity
London, United Kingdom -- Stablecoins -- a form of cryptocurrency backed by traditional assets -- are gaining traction, with the...
Business
Economy
Middle East & North Africa: Regulatory momentum and DeFi fuel crypto adoption
The Middle East & North Africa (MENA) region ranks as the seventh-largest crypto market globally in 2024, with an estimated...
- Centralized exchanges (CEXs) remain the primary source of crypto inflows across MENA
- Across MENA, stablecoins and altcoins are gaining market share over traditionally preferred assets like bitcoin and ether
Lebanon flights suspended as Hezbollah-Israel tensions continue to spiral out of control
Major airlines such as Emirates, Qatar Airways and Air France have suspended growing numbers of flights to Lebanon as tensions...
- United Arab Emirates-based Emirates announced the temporary suspension of its flights to Beirut
- Air France on Tuesday extended the suspension of its Beirut flights until October 1
Economy
Economy – the biggest loser in the Israeli-Arab war
The sheer scale of destruction from the deadliest war in Gaza's history has made the road to recovery difficult to...
- With bombs still raining down on Gaza, many of the Palestinian territory's 2.4 million people face re-construction challenges
- 11 months of war in Gaza has battered Israel's economy, and poverty is now threatening communities
Economy
Coal mine blast in Iran kills more than 50 mine workers
A blast caused by a gas leak at an Iranian coal mine has killed at least 51 people, state media...
- A leak of methane gas led to the blast in two blocks of the mine, which is owned by the private Iranian firm Madanjoo
- State TV broadcast footage of ambulances and helicopters arriving at Tabas in eastern Iran to transport the injured to hospital
Economy
What a Fed rate cut could mean for the world
The U.S. Federal Reserve is on Wednesday heading for its first interest rate cut since the onset of the COVID-19...
- Global markets brace for the first rate cut by the Federal Reserve this week
- High level of uncertainty around whether it will cut by 25 basis points or 50
What are the needs and challenges of an ageing workforce?
Age bias in the world of work is real. But it is more complex and nuanced than the common narrative...
- Age bias in the world of work is real, but it is more complex and nuanced than the common narrative around ageism.
- These hidden struggles, coupled with a higher rate of rejection than among other applicant pools, can trigger a dangerous descent into a resignation mindset
Economy
Residential, hospitality sectors drive Saudi Arabia’s real estate market in H1 2024
The Kingdom’s tourism and entertainment investments, including a new star rating system, support growth in hospitality, positioning Saudi Arabia as...
- Residential sale prices experienced 10% year-on-year increase in H1 in Riyadh and average rents grew by 9% annually
- In Jeddah, the pace of growth was slightly slower, with sale prices rising by 5% and rents increasing by 4% year-on-year during the same period
Economy
Stocks firm, dollar subdued as market flirts with outsized Fed cut
Asian stocks dithered and the dollar slipped on Monday in a week that is almost certain to see the start...
- Futures imply 59% chance of outsized Fed rate cut
- Policy makers project 100 basis points of cuts this year and 150 basis points for 2025
Economy
Standard & Poor’s affirms Saudi Arabia’s ‘A/A-1’ credit rating
Riyadh, Saudi Arabia – Standard & Poor's (S&P) affirmed the Kingdom's credit rating in local and foreign currency at "A/A-1"...
- S&P explained that its affirmation of the Kingdom's strong credit rating results from the Kingdom's reforms and investments
- It expected that the Kingdom's gross domestic product (GDP) will continue to grow during the years 2024-2027
Economy
Central & Southern Asia and Oceania region leads the world in cryptocurrency adoption
The fifth annual Chainalysis Global Crypto Adoption Index looks at both on- and off-chain data to determine which countries are...
- This year, crypto activity increased across countries of all income brackets
- Central & Southern Asia and Oceania accounted for over $750 billion in crypto asset inflows
US Fed keeps interest rates unchanged in face of Trump criticism
Fed Chair Jerome Powell told reporters the central bank would make better decisions if it waited a few months to...
Economy
Company News
Latest News
Trump trade war pushes firms to consider stockpiling
Even if they don't all acknowledge it so openly, firms in many different sectors are stockpiling their products in the United...
Business
Tariff war: Xi says China must ‘overcome’ AI chip challenges
Beijing, China - President Xi Jinping said China must "overcome" the challenges of developing core AI technologies including high-end chips,...
Economy
IMF, World Bank welcome efforts for Syria to reintegrate globally
Washington, United States - The International Monetary Fund and World Bank's leaders said in a joint statement Thursday that they...
Economy
Most Read
Economy
The game of ‘chicken’ being played with the world economy can be brought to a cooperative end
A meaningful “G3” accord between the US, Europe, and China must include coordinated fiscal, monetary, development, and trade policies. From...
- The hardline positions of the US and China on trade and tariffs are putting the world economy at risk, writes Richard Samans
- Yet, Europe could broker a 'positive off-ramp' that fires on all of the cylinders of international cooperation
Economy
Trump eyes ‘fair deal’ with China, but path to ending tariff war remains unclear
Trade tensions between the world's two biggest economies have soared as Trump ramped up levies on imports from China this...
- But how soon the tariffs can be lowered "depends on them," Trump said, referring to Beijing, even as he maintained that he gets along "very well" with Chinese President Xi Jinping
- But earlier Wednesday, US Treasury Secretary Scott Bessent told reporters that the two countries are "not yet" talking when it comes to lowering tariffs
Economy
IMF cuts global growth outlook on impact of Trump tariffs
Washington, United States -- The International Monetary Fund on Tuesday slashed its forecast for global growth this year, citing the...
- The IMF projections see the global economy growing by 2.8 percent this year, 0.5 percentage points lower than the previous World Economic Outlook (WEO) forecast in January.
- The IMF expects China, the world's second-largest economy, to see growth slump to 4.0 percent this year, down from 5.0 percent in 2024.