Oil prices spike after US strikes on Iran nuclear sites
Economists at MUFG warned of "high uncertainty of the outcomes and duration of this war", giving a "scenario analysis" of...Economy
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...Economy
Chinese vent anger at Trump’s trade war with memes, mockery
Beijing, China -- While China's leaders use their economic and political might to fight Donald Trump's trade war "to the...Defiant posts have shot to the top of most-searched lists on social media, flooding platforms with patronizing comments and jokes.
In one video, a Chinese internet user opens his hands to reveal what goods he buys from the United States -- nothing.
Egypt central bank lowers interest rate for first time since 2020
Egypt's central bank on Thursday announced that it was lowering interest rates for the first time since 2020, days after...The Central Bank of Egypt cut interest rates by 225 basis points, its monetary policy division said in a statement
Its overnight deposit rate, overnight lending rate, and the rate of the main operation now stood at 25%, 26 percent and 25.5%, respectively
Global economy under pressure could slow to 2.3 percent: UNCTAD
UNCTAD report '"Trade and Development Foresights 2025 – Under pressure: Uncertainty reshapes global economic prospects” cited mounting threats including trade...Rising trade tensions are impacting global trade, with UNCTAD noting that recent tariff measures are disrupting supply chains and undermining predictability.
The slowdown will affect all nations, but UNCTAD remains concerned about developing countries and especially the most vulnerable economies.
OPEC lowers 2025 oil demand forecast over impact of US tariffs
The Saudi-led oil cartel said in a monthly report that it now expects demand to grow by 1.3 million barrels...The Organization of the Petroleum Exporting Countries now sees global demand reaching at total 105.05 million bpd this year.
Oil prices sank to a four-year low last week, dipping under $60 per barrel over concerns about the impact of President Donald Trump's tariffs.
Saudi Arabia’s space economy reaches $8.7 billion in 2024
Riyadh, Saudi Arabia -- The Communications, Space, and Technology Commission (CST) has said that the Saudi space economy reached $8.7...The Saudi space market is projected to reach $5.6 billion by 2035, supported by space technologies, while the global space market reached $176 billion in 2024.
The size of the space market reached $1.9 billion, according to the KSA Space Market 2025 report. Saudi space economy is expected to reach $31.6 billion by 2035.
Osaka Expo 2025 opens: World gathers amidst hope and global tensions
From quirky Hello Kitty algae sculptures to demonstrations of flying vehicles and lunar samples, the Osaka Expo offers a fascinating...Encircling dozens of national pavilions is the Grand Ring -- recognized by Guinness World Records as the planet's largest wooden architectural structure.
So far 8.7 million advance tickets have been shifted, below the pre-sales target of 14 million.
Why investors rush to gold in uncertain economic times?
London, United Kingdom -- Why do investors flock to gold when economic times turn tough? As the precious metal reaches...On Friday it struck an all-time high of $3227.51 an ounce in trading, handing the commodity a gain of more than 20 percent since the start of the year.
In 2024, global central banks together added more than 1,000 tons of gold to their reserves for the third year running, according to the World Gold Council.
Trump admits trade war ‘cost’ as markets hit
Jitters about US tariffs hammered Asian stocks again early Friday as President Donald Trump acknowledged a "cost" to his surging...Trump acknowledged "a transition cost and transition problems," but dismissed global market turmoil. "In the end it's going to be a beautiful thing."
On Wall Street, the broad-based S&P 500 finished down 3.5 percent on Thursday after soaring 9.5 percent the day before. The Dow Jones shed 2.5 percent and the Nasdaq 4.3 percent
European Union and UAE agree to launch trade deal negotiations
Emirati President Mohammed bin Zayed Al Nahyan "and I just decided to launch negotiations on an EU-UAE free trade agreement,"...Sheikh Zayed said that the CEPA would create new avenues for cooperation between the UAE and EU, increase trade and investment flows.
The EU is the UAE’s second-largest trading partner, accounting for 8.3 percent of the UAE’s total non-oil trade, which hit $67.6 billion in 2024.
Iraq signs deal with US firm to produce 24,000 MW of electricity
Prime Minister Mohammed Shia al-Sudani oversaw "the signing of a Memorandum of Understanding as part of a strategic cooperation framework...The signing comes at the conclusion of a visit to Iraq by a high-level US delegation comprising of representatives from 60 private firms.
Despite sitting on large reserves of petrol and natural gas, decades of conflict and instability have ravaged Iraq's energy infrastructure.
