The Fed has a duty to prevent a one-time spike in prices from becoming an "ongoing inflation problem," said Federal...
Presenting the annual report at a press conference, UNCTAD chief Rebeca Grynspan said it contained a "clear and urgent" message...
Limiting global temperature rise to 1.5 degrees Celsius is still possible but will require a 45 per cent reduction in...UN Secretary-General António Guterres urges a 45% cut in carbon emissions by 2030 to limit global temperature rise to 1.5°C
Current policies could lead to a 2.8°C temperature rise by the end of the century, posing a catastrophic threat, adds Guterres
The Bank of Japan (BoJ) has gone against the grain set by the Fed and ECB, announcing on Friday that...On Wednesday, the Fed paused interest rate hikes after 10 straight increases, bringing its benchmark lending rate from close to zero to a range between 5.0 and 5.25 percent
On Thursday, the People's Bank of China cut a key lending facility by 10 basis points to 2.65 percent, and extended 237 billion yuan ($33 billion) of fresh funding to lender
BERLIN, GERMANY - German industrial giant Siemens said on Thursday it would build a new high-tech factory in Singapore and expand...Details on further investments in Europe and the United States across the globe are expected to follow, said Siemens.
The group's announcement came after the German government published its first National Security Strategy that took aim at China for acting against Berlin's interests.
COLOMBO, SRI LANKA - Crisis-hit Sri Lanka's economy shrank by 11.5 percent in the first quarter just before an IMF bailout...The contraction in the first three months compared with shrinkage of 0.5 percent in the corresponding period of 2022.
A currency crisis from late 2021 led to severe shortages of food, fuel and medicines and triggered months of protests.
DUBAI, UAE : In the first five months of 2023, Audi Middle East achieved a 33 percent growth compared to...This success is bolstered by Audi's strategic partnerships and investments in electric vehicle infrastructure across the Middle East.
Audi's EV portfolio now features an extensive range of models, spanning sports cars, sedans, hatchbacks, and the SUVs.
Insurance services results in Q1 improved by US$55 million.The growth in revenues were offset by an increase in claims incurred and attributable expenses by US$172 million.
Tawuniya booked additional risk adjustments of US$10 million in Q1 2023 and additional acquisition costs of US$18 million.
The hike was the highest since 2001, despite a darkening economic outlook. The ECB increased rates by another 25 basis...Like all central banks, the ECB has to walk a fine line in raising interest rates sufficiently to dampen demand and contain inflation, without provoking a sharp economic slowdown.
The ECB also slightly raised its inflation outlook, predicting it will reach 5.4 percent in 2023, 3.0 percent in 2024 and 2.2 percent in 2025.
Dubai, UAE -- Saudi Arabia’s inflation increased by 2.8%, compared to May 2022, slightly higher than April 2023 (2.7 percent),...The main driver of CPI inflation in May was the higher prices of housing, water, electricity, gas, and other fuels by 8.4 percent, and food and beverages by 0.9 percent.
The cost-of-living index for May rose to 109.37 points, according to the base year 2018, from 106.42 points in the same month a year earlier.
JV to develop accommodation project in Abu Dhabi island.This project aims to address the diverse housing needs of employees in sectors such as healthcare, transportation.
Upon completion, the project will cater to approximately 5,000 staff, offering a convenient environment.
- DUBAI, UAE - The Ministry of Energy and Infrastructure (MoEI) has joined UAE's National In-Country Value (ICV) program following a...
The MoU supports national strategic objectives to boost the growth of the industrial and advanced technology sectors.
It aligns with the National ICV program's aims to enhance economic growth by redirecting government expenditure into the national economy.
