Saudi Arabia’s inflation rate 2 percent in Jan, rental prices main driver
Riyadh, Saudi Arabia -- Saudi Arabia's annual inflation rate in Jan 2025 reached 2 percent compared to January 2024, the...Business Economy
Exclusive: Green investments lead to tangible returns, says WEF’s PhilipsÂ
Public-private partnerships are essential for advancing sustainable urban development and meeting net-zero targets, Vivian Brady Phillips, Head of Strategic Initiatives,...Business Economy
How Pakistan is becoming a top tech hub in the GCC
Pakistan's IT sector is thriving, with growing exports and recognition as a tech hub, driven by government support, skilled talent,...While Pakistan has been declared the "Tech Destination of the Year" at GITEX GLOBAL 2024, one of the key players driving this growth is the Pakistan Software Houses Association
Across the GCC, Pakistani companies provide cybersecurity and AI driven solutions across various sectors, including banking and fintech industries
Saudi Business Council established to strengthen Eastern European partnerships
The council aims to align its focus with Saudi Arabia’s Vision 2030 and the economic agendas of Eastern European countries,...The council aims to align its focus with Saudi Arabia’s Vision 2030 and the economic agendas of Eastern European countries
This council will be instrumental in expanding the Kingdom's global economic footprint
China manufacturing contracts for fourth straight month
While some sectors have largely regained their strength -- including tourism and the auto industry -- others are struggling, particularly...China is facing a crisis in its vast real estate sector as well as lackluster confidence among households and businesses, which is hindering consumption
In August, the Purchasing Managers' Index (PMI) - a key barometer of industrial output - stood at 49.1 points, the National Bureau of Statistics (NBS) announced
Asia shares edge up and dollar down; oil gains
Asian shares crept cautiously higher on Monday, while the dollar and bond yields were on the wane ahead of inflation...Oil prices climbed 0.8% after Israel and Hezabollah traded rocket salvos
The dollar slipped a further 0.5% to 143.64 yen, having fallen 1.3% on Friday
US Fed chair says ‘the time has come’ to start cutting rates
The Fed's benchmark lending rate currently sits at a 23-year high of between 5.25 and 5.50 percent, cooling demand in..."The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks," Fed chair Powell said
After holding its key lending rate at a two-decade high for more than a year, Powell's remarks suggest the US central bank is now all but certain to start cutting rates
US Fed chair expected to signal support for rate cuts
The annual Jackson Hole Economic Symposium in the US state of Wyoming gives Powell a global platform to enlighten financial...After holding its key lending rate at a two-decade high for more than a year, the US central bank now seems poised to start cutting rates in September
While inflation has eased, the labor market has shown signs of cooling - though still remaining solid by historical standards - and economic growth has been resilient
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
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
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
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
