Chief Economists warn global growth under strain from trade policy shocks and AI disruption
The global economic outlook has worsened since the start of the year, as rising economic nationalism and tariff volatility fuel...
Economy
Trump threatens Apple with a 25% tariff if iPhones aren’t made in US
Washington, United States -- US President Donald Trump on Friday threatened Apple with a 25 percent tariff if the iPhones...
Business
Economy
Massive GCC infrastructure investments set stage for rising foreign equity: Franklin Templeton
The Franklin Templeton Emerging Markets Equity outlook emphasizes how GCC countries have reduced their dependence on oil and gas, opened...
- The FTEME outlook emphasizes how GCC countries have reduced their dependence on oil and gas, opened their capital markets, and diversified their economies
- The report highlights a striking decline in the equity risk premium (ERP) in the GCC — from 6.6% in 2016 to 2.4% by March 2025
Economy
Apple expects $900 million hit from tariff war
Apple on Thursday reported first-quarter profit above expectations but warned that US tariffs could cost the company and were disrupting...
- Cook said he expected "a majority of iPhones sold in the US will have India as their country of origin."
- Tit-for-tat exchanges have seen hefty US levies imposed on China, with Beijing setting retaliatory barriers on US imports
Economy
Slower growth expected in MENA region in 2025: IMF
"Growth is still projected to increase in 2025 and 2026, but at a considerably slower pace than anticipated last October,"...
- The lender lowered growth projections from 4 percent to 2.6 percent for 2025, and from 4.2 percent to 3.4 percent for 2026.
- In 2024, average growth in the region slowed to 1.8 percent -- from 2.1 percent the year before -- due to "ongoing conflicts and extended voluntary oil production cuts".
Economy
US reaching out to China for tariff talks: Beijing state media
United States officials have reached out to their Chinese counterparts for talks on vast tariffs that have hammered markets and...
- Punishing US tariffs that have reached 145 percent on many Chinese products came into force in April, while Beijing has responded with fresh 125 percent duties on US imports
- Beijing has vehemently denied any talks are taking place while repeatedly urging the United States to engage in dialogue in a "fair, respectful and reciprocal" manner
Economy
Global stocks mostly rise as Trump grants auto tariff relief
Stocks moved sideways on Monday after notching four straight positive sessions last week as Trump adopted a more conciliatory posture...
- Trump's pivot includes limitations on the impact of multiple tariffs on carmakers and a measure to allow carmakers to offset a portion of the levy for two years
- Investors are "encouraged by the Trump decision to be a little more flexible (...) with the autos," said CFRA Research's Sam Stovall, who predicted stocks could go higher
Geostrategy
Saudi Arabia and Qatar to settle Syria’s World Bank debt
Riyadh, Saudi Arabia -- Saudi Arabia and Qatar announced on Sunday that they would settle Syria's debt to the World...
- Both Gulf states have played a key role in the diplomatic outreach to Syria's new rulers since the ouster of longtime strongman Bashar al-Assad in December.
- The statement came just days after Syria's central bank governor and finance minister attended the IMF and World Bank spring meetings for the first time in more than 20 years.
Business
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...
- Whether it's the luxury, electronics or pharmaceutical sectors, US President Donald Trump's unpredictability complicates the calculations of firms.
- Some companies didn't wait for Trump's April 2 announcement of massive "reciprocal" trade tariffs: they had already begun shipping more of their goods to the United States.
Economy
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,...
- China aims to dominate the artificial intelligence sector, a goal complicated by the trade standoff with Washington
- Since the launch of ChatGPT in November 2022, generative AI models have proliferated in the United States and China
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...
- The statement, issued with Saudi Arabia's finance minister, came as Syria's central bank governor and finance minister attended the IMF and World Bank's spring meetings
- Significant amounts of Syria's infrastructure have been destroyed by 14 years of war, beginning with a crackdown by president Bashar al-Assad on a pro-democracy movement
Geostrategy
Lebanon parliament approves changes to banking secrecy law
Beirut, Lebanon -- Lebanon's parliament on Thursday approved amendments to banking secrecy legislation, a key reform demanded by the International...
- The international community has long demanded major fiscal reforms to unlock billions of dollars in aid to restart the Lebanese economy in the wake of a five-year economic collapse
- The crash since 2019 has seen the local currency lose most of its value against the US dollar and has pushed much of the population into poverty.
Chief Economists warn global growth under strain from trade policy shocks and AI disruption
The global economic outlook has worsened since the start of the year, as rising economic nationalism and tariff volatility fuel...
Economy
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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
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...
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...
Economy
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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
Economy
Damascus, Ankara agree natural gas deal for Syria
Damascus, Syria - Syrian Energy Minister Mohammad al-Bashir said Friday Damascus and Ankara had reached a deal for Turkey to...
- Syria's Islamist authorities, who toppled Bashar al-Assad in December, are seeking to rebuild the country's infrastructure
- The conflict badly damaged Syria's power infrastructure, leading to cuts that can last for more than 20 hours a day