G7 ministers consider oil reserves as markets face volatility
In a statement following a virtual meeting with International Energy Agency (IEA) Executive Director Fatih Birol, the ministers said they...
Geostrategy
Wealthy Asians consider shifting assets from Dubai amid Iran war fears: report
Some wealthy Asian investors are considering moving assets out of Dubai following Iranian missile and drone attacks on the city,...
Economy
Economy
Oil falls by more than $2 a barrel on Gaza ceasefire talks and weak Chinese economy
Oil prices fell by more than $2 a barrel Monday on the prospect of successful Middle Eastern peace talks reducing...
- Brent crude futures settled at $77.66 a barrel
- Energy investors also awaited clues on the U.S. Federal Reserve's next interest rates decision
Economy
Asia-Pacific markets mixed, dollar down Monday as Fed readies to acknowledge cuts
Asia-Pacific markets were mixed on Monday after a week that saw a broad rally in stocks, as investors awaited a...
- The Bank of Korea releases rate decision Thursday, Japan and Singapore issue inflation data Friday
- Against the yen, the greenback fell more than 0.8% to 146.37
Economy
China youth unemployment jumps to 17.1% in July
Beijing, China - Youth unemployment in China ticked up to 17.1 percent in July, official figures showed, the highest level this...
- China is battling soaring joblessness among young people, a heavily indebted property sector and intensifying trade issues with the West
- The unemployment rate among 16- to 24-year-olds released Friday by the National Bureau of Statistics (NBS) was up markedly from June's 13.2 percent
Economy
Crypto crime drops 19.6% as digital ecosystem matures
Advanced blockchain analysis tools, such as those provided by Chainalysis, are empowering law enforcement agencies and enterprises to counter the...
- Research by Chainalysis found that flow of crypto funds to legitimate services has reached their highest levels since 2021
- Aggregate illicit activity over the same period fell by an impressive 19.6 percent
Economy
World’s largest SWF posts $138 billion in H1 profit as AI demand boosts tech
Norway’s massive sovereign wealth fund on Wednesday posted first-half profit of 1.48 trillion kroner ($138 billion), primarily driven by robust...
- Completely different geopolitical situation now present more risks to global stocks
- The PIF, which has $977 billion in assets, reported a 2023 profit of $17.2 billion in a July 2024 filing
Business
Dubai real estate sales hit record $13.6bn in July, growth eases
Dubai, UAE - Dubai's real estate market reached a new peak in July, with sales hitting an all-time high of...
- Apartment sales, which accounted for nearly 45% of all transactions, surged by 62% year-on-year, with approximately 70% of these being off-plan sales
- The villa segment also saw a shift towards the off-plan market in the past two months, resulting in a 9.9% year-on-year growth overall
Economy
Disparities in climate action risk worsening global economic inequality, warns new report
Geneva, Switzerland – A recent report by the World Economic Forum (WEF) highlights the growing concern that unequal access to...
- The WEF’s research reveals that disparities in access to green financing pose the greatest risk to economic equity across various sectors
- The findings underline the need for a fair distribution of the costs and benefits of climate action among workers, consumers, and businesses
Economy
Saudi Arabia reforms investment law, simplifies process and investor protection to achieve $100 bn FDI target
The law will ensure equal treatment between domestic and foreign investors, protecting intellectual property and promoting fair competition in line...
- The updated investment law, approved by the Council of Ministers on Sunday, seeks to level the playing field for both domestic and international investors
- It guarantees the rule of law, fair treatment, and the freedom to transfer funds without delay, among other protections
Oil prices soar 4 percent but US inflation fears ease
U.S. crude oil prices rose over 4% on Monday, surpassing $80 per barrel, as the Pentagon deployed additional forces to...
- WTI and Brent crudes were both hovering around $80 per barrel at time of publishing
- Expectations for three-year inflation hitting a record low of 2.3%
West tells Iran to ‘stand down’ Israel attack threats; Tehran says ‘no way’
With tensions soaring in the Middle East, the United States says that Iran along with its proxies might attack Israel...
- Iran and its Lebanese ally Hezbollah have vowed revenge for the killings of Ismail Haniyeh and Fuad Shukr
- The White House warned that a "significant set of attacks" by Iran and its proxies was possible as soon as this week
G7 ministers consider oil reserves as markets face volatility
In a statement following a virtual meeting with International Energy Agency (IEA) Executive Director Fatih Birol, the ministers said they...
Geostrategy
Company News
Latest News
After Japanese Softbank, US Govt, Chip-maker Nvidia to buy stake in rival Intel
Shares in chipmaker Intel skyrocketed on Thursday after AI giant Nvidia announced it would invest $5 billion in its struggling...
Science
Stocks rise on $5 billion Nvidia-Intel deal, Fed rate cut
Nvidia announced a $5 billion investment in struggling US rival to jointly develop chips for PCs and data centers. The...
Business
US Fed makes first rate cut of 25 basis points over employment risks as Trump mounts pressure
Fed Chair Jerome Powell stressed that the central bank remains "strongly committed" to maintaining its independence from politics, however, when...
Economy
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Economy
AI to boost trade by nearly 40% by 2040: World Trade Report 2025
The 2025 edition of the World Trade Report reveals that, with the right enabling policies, artificial intelligence (AI) could boost...
- According to the report, AI could lead to significant increases in trade and GDP by 2040, with global trade projected to rise by 34-37% across different scenarios
- Trade can be a powerful enabler of inclusive AI -supported growth by helping economies access AI-enabling goods, such as raw materials, and semiconductors
Economy
US Fed set for first rate cut of 2025 as Trump pressure looms
The US Federal Reserve is poised to make its first interest rate cut of 2025 on Wednesday, but it battles...
- There is little doubt that the US central bank will lower rates at the end of its two-day policy meeting, and markets widely expect a 25 basis points reduction
- Typically, the Fed might be inclined to keep rates at a higher level to bring inflation back to its two-percent target -- or slash rates to support a weakening labor market
Economy
Asian markets rise as traders prepare for expected US rate cut
Asian stocks rose again Tuesday to extend another record day on Wall Street as traders locked in bets on a...
- While the outcome of the Federal Reserve's policy decision Wednesday is considered a fait accompli, there is still a lot of discussion over its plans for future meetings
- Bank boss Jerome Powell's post-meeting comments will also be pored over for an idea about decision-makers' thinking as the US jobs market slows