Oil prices surge as Trump hits Russian crude with sanctions
The international benchmark contract, Brent North Sea crude, jumped 4.8 percent while West Texas Intermediate was up 5.1 percent. Trump on Wednesday announced...Economy Geostrategy
Iraq bans Roblox game platform citing ‘moral values’
Iraq has banned US gaming platform Roblox over what it described as sexual content, blasphemy and risks of online blackmail...Technology
Trade war worsens foreign investment outlook: UNCTAD World Investment Report
Presenting the annual report at a press conference, UNCTAD chief Rebeca Grynspan said it contained a "clear and urgent" message...After two consecutive years of decline, the FDI outlook for 2025 remains negative due to uncertainties triggered by the tariff war waged by Trump, the UNCTAD said.
UNCTAD said that when adjusted to strip out volatile financial flows through several European economies, FDI fell by 11% last year to $1.5 trillion.
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...For now, he expects to learn more "over the summer," while officials appear increasingly divided on whether they can cut interest rates at all in 2025.
The Fed kept the benchmark lending rate between 4.25 percent and 4.50 percent at the end of its two-day meeting, with officials penciling in two rate reductions this year.
MENA Brief | June 19: GCC central banks hold interest rates steady, Diriyah House launched in London
As most currencies in the region are pegged to the US dollar, monetary policy follows the decisions taken in Washington,...Saudi-based Cluster2 Airports Company signed a strategic MoU with Airbus. The agreement will see the deployment of the Agnet Turnaround platform across Cluster2’s 22 airports.
Saudi National Bank (SNB) has issued $1.25 billion in Tier 2 bonds at a 6% profit rate under its $10 billion Euro Medium Term Note program.
Asian stocks drop after Fed warning, oil dips with Mideast in focus
Hong Kong, China - Asian stocks fell Thursday after the Federal Reserve warned Donald Trump's trade war would likely reignite...With Trump increasingly calling for the bank to slash rates, Powell said: "We'll make smarter and better decisions if we just wait a couple of months."
Hong Kong led losses, falling more than one percent, while Tokyo, Shanghai, Sydney, Singapore, Seoul, Wellington, Taipei, Manila and Jakarta were also in the red
US Fed set to hold rates steady as it guards against inflation
Washington, United States - The US central bank is expected to hold interest rates steady Wednesday after its key policy...The Federal Reserve has kept the benchmark lending rate unchanged this year at a range between 4.25 percent and 4.50 percent
Beyond inflation data, policymakers are also trying to keep expectations "anchored," a state in which consumers expect price increases to remain low and steady
Trump says EU not offering ‘fair deal’ on trade
US President Donald Trump said Tuesday that the European Union had yet to offer a "fair deal" on trade, as..."We're talking but I don't feel that they're offering a fair deal yet," Trump said of EU speaking to reporters on board Air Force One before returning to the US from G7 meet US
Shortly after taking office, Trump upended the global economic order by accusing the United States' trading partners of unfair practices and he announced huge global tariffs
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...Stablecoins play a key role in crypto markets, enabling users to trade digital assets without relying on traditional banks, instead using blockchain.
Unlike volatile cryptocurrencies like bitcoin, stablecoins track the value of traditional assets -- such as the US dollar or gold -- enabling greater stability.
Global oil demand to dip in 2030, first drop since Covid: IEA
IEA cited sluggish economic growth, global trade tensions, the rise of electric cars and the shift away from crude to...Total demand is forecast to reach 105.5 million bpd in 2030 after peaking at 105.6 million bpd in 2029.
Oil demand dropped dramatically in 2020, when countries locked down and shut their borders during the Covid pandemic, falling to 91.7 million bpd.
Oil prices jump after Trump’s warning, stocks extend gains
Oil prices rallied Tuesday after Donald Trump urged Tehran residents to evacuate, stoking fresh fears of all-out war as Israel...Hopes that the deadly conflict can be contained helped most equities rise, while the US president's earlier claim that the Iran wanted to make a nuclear deal also eased fears
After Friday's surge sparked by Israel's attacks on its regional foe, crude ticked more than one percent lower Monday as traders bet that the battle would not spread
Oil prices drop, stocks climb as Iran-Israel war fears ease
Israel's surprise strike against Iranian military and nuclear sites on Friday -- killing top commanders and scientists -- sent crude prices...However, concerns over the conflict spreading appeared to have receded, with both main oil contracts retreating 3.7 percent.
Analysts said the recent decision by the OPEC+ group of crude producing nations, led by Saudi Arabia and Russia, to raise output again in July also played a role.
