Asia-Pacific markets gain ahead of US inflation data
Asia-Pacific markets traded higher on Thursday, following gains on Wall Street that saw the S&P 500 and Dow Jones Industrial...Economy
Riyadh leads Saudi Arabia’s date production with record sales
Riyadh, Saudi Arabia - Riyadh is currently hosting the third Seasonal Dates Exhibition, a major economic, social, and tourist event....Economy
Israel-Hamas war a ‘new cloud’ over world economy, says IMF
Marrakesh, Morocco-- The war between Israel and Hamas has cast a shadow over the IMF-World Bank annual meetings in Morocco, with...IMF Managing Director Kristalina Georgieva said the International Monetary Fund was "very closely monitoring how the situation evolves" and how it is affecting oil markets
She said it was "too early" to assess the impact of the conflict, but "this is a new cloud on not the sunniest horizon for the world economy -- new cloud, darkening this horizon
Risk of oil supply disruptions due to Hamas-Israel conflict limited: IEA
The Paris-based agency, in addition to its analysis and advisory roles, coordinates the release of emergency stocks held by its...Oil prices jumped at the start of the conflict but have since eased as there was no immediate disruption to supply flows and other nations have not intervened.
Yet prices remain relatively high thanks to supply cuts by Saudi Arabia and Russia, with the IEA also warning it was beginning to see signs of demand destruction.
Real estate trading volume in Qatar exceeds US$88m in week
DOHA, QATAR - The volume of real estate trading in sales contracts at the Department of Real Estate Registration at...Total sales contracts for residential units in the Real Estate Bulletin for the same period is US$19.7 million.
A weekly bulletin shows that the list of real estate properties traded for sale included vacant lands, houses, hotel.
Africa’s exports expected to hit close to $1 trillion by 2035: Standard Chartered
Marrakesh, Morocco – Africa’s total exports will reach $952 billion by 2035 and the African Continental Free Trade Area (AfCFTA),...Rising regional trade levels and greater connectivity will unlock high‑growth corridors across Africa and beyond, the Stanchart report says
The East Africa-South Asia corridor is expected to emerge as the fastest-growing major corridor, at 7.1 per cent per annum through to 2035, the report adds
Activists term IMF, World Bank ‘worst scam of the century’
Activists from developing nations belonging to a group called People's Alternative Global Tribunal organized themselves in the Moroccan city as...They blamed both the institutions for pursuing an economic model that favours political and financial elites
The International Monetary Fund and World Bank are holding their first annual meeting in Africa in half a century
US wholesale prices rise more than expected in September
Washington, United States - US wholesale prices rose more than expected in September, government data showed Thursday, as energy prices continued...The producer price index (PPI) rose by 0.5 percent last month, building on August's 0.7 percent increase, according to data from the Labor Department.
The US Federal Reserve has raised its key lending rate 11 times in the last 18 months to a 22-year high as it looks to bring down consumer inflation.
IMF slashes its growth forecast for China and eurozone
Marrakech, Morocco-- The International Monetary Fund on Tuesday cut its growth forecasts for China and the euro zone and said...The IMF left its forecast for global real GDP growth in 2023 unchanged at 3.0% but cut its 2024 forecast to 2.9% from its July forecast of 3.0%.
Its research revealed a 10% rise in oil prices would dampen global output by about 0.2% in the following year and boost global inflation by about 0.4%
One dead as new earthquake rocks west Afghanistan
According to the United States Geological Survey, the quake occurred at a shallow depth at around 05:10 am local time...So far there have been no immediate reports of new casualties after Wednesday's quake
Most homes in rural Afghanistan are made of mud and built around wooden support poles
UAE to sign six more CEPAs by year end: Al Zeyoudi
Dubai, UAE--The UAE will sign six new comprehensive economic partnership agreements (CEPA) with South Korea, Thailand, Chile, Costa Rica, Colombia,...The minister made the remarks about the new CEPA agreements during a press conference to announce the UAE-Georgia CEPA
He added that agreements will be signed with South Korea, Thailand, Chile, Costa Rica, Colombia, and Ukraine in the next few months
Saudi non-oil GDP growth to be strong despite oil cuts
Tourism and entertainment sectors are likely to help Saudi Arabia's non-oil GDP grow robustly in the coming years, despite a...Tourism and entertainment sectors are likely to help Saudi Arabia's non-oil GDP grow robustly in the coming years, despite a 6.5% drop in oil production, says a report
The World Bank, meanwhile, revises the Kingdom's growth forecast, highlighting challenges in the broader MENA region due to global financial conditions and inflation
