Global gas flaring surges again, costs $63bn in lost energy: WB
Washington, UAE -- Global gas flaring surged for a second year in a row, wasting about $63 billion in lost...Economy Energy Geostrategy Climate Change
Trump to unveil investments to power AI boom
Washington, United States - US President Donald Trump heads to Pennsylvania on Tuesday to announce energy and infrastructure deals intended...Technology
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.
MENA Brief – June 16: Netanyahu eyes Gaza breakthrough, Iran rejects talks, Trump at G7, UAE oil giant bids big
Israeli Prime Minister Benjamin Netanyahu says there’s a fresh opening to free hostages held in Gaza, backing a US-mediated proposal...In major energy news, Abu Dhabi’s state-owned oil company has launched an $18.7 billion takeover bid for Australia’s Santos, offering a 28% premium
The UAE’s economic momentum remains strong: its GDP grew 4% in 2024 to AED1.77 trillion, driven by a 5% rise in non-oil sectors
Boeing lowers 2044 global air fleet outlook amid supply chain woes
New York, United States -- The global commercial aviation fleet will stand just under 50,000 planes in 2044, with most...The global commercial aviation fleet will stand just under 50,000 planes in 2044, with most built over the next 20 years, according to a Boeing forecast released Saturday.
The global fleet will nearly double to 49,600, a bit below Boeing's prior annual outlook, the company said ahead of the giant Paris Air Show beginning Monday.
IBM claims ‘real world’ edge in quantum computing race
San Francisco, United States -- Technology veteran IBM on Tuesday laid out a plan to have a "practical" quantum computer...Current quantum computers are still experimental and face significant challenges, including high error rates.
Companies like IBM, Google, and others are working to build more stable and scalable quantum systems.
World Bank cuts growth forecast on trade tumult, warns of ‘deep’ harm
The bank lowered its projection for global GDP growth to 2.3 percent in its latest economic prospects report, down from..."That's the weakest performance in 17 years, outside of outright global recessions," said World Bank Group chief economist Indermit Gill.
By 2027, the World Bank expects global GDP growth to average 2.5 percent in the 2020s, which would be the slowest rate in any decade since the 1960s.
