Fears of a recession caused by sharp interest rate hikes aimed at fighting soaring inflation sent Asian and European markets tumbling Wednesday, tracking a sharp drop on Wall Street. The Conference Board's chief economist Dana Peterson warned the United States will likely see a recession in late 2022.

The grant is part of an £95 million aid package including £65 million for the social protection sector.

Shares rose more than three percent in Hong Kong on Monday morning, in line with a rally across Asian markets, with weak economic data easing concerns over central bank interest rate hikes. The gains came on the back of a rally in tech giants including Alibaba and JD.com.

Equities rose in most cities Tuesday in Asia as some stability returned to markets after last week's upheaval, but analysts warned of further pain for traders after central bank officials hinted at more interest rate hikes to reel in inflation. In commodities markets, oil extended gains as traders moved back...

India's central bank on Wednesday hiked rates for a second time in as many months, as Asia's third-largest economy reels from galloping inflation in the wake of the Ukraine war.

President Joe Biden was clear from the moment he entered office -- China is the main international competitor and should be the top concern for US foreign policy. Then Russia invaded Ukraine. After months devoted to supporting Ukraine and punishing Russian President Vladimir Putin, Biden is shifting focus back to...

Turkish President Recep Tayyip Erdogan on Friday opened the world's longest suspension bridge over the Dardanelles strait in northwestern Turkey -- which cuts travel time between Asia and Europe to six minutes. The 2.5-billion-euro ($2.8-billion) "1915 Canakkale Bridge" built by a consortium of Turkish and South Korean companies has a...

After several weeks of declines, reported cases of COVID-19 are once again increasing globally, especially in parts of Asia, WHO Director-General Tedros Adhanom Gebreyesus told journalists in Geneva. In the past week, the agency has seen an 8 per cent increase in detection of COVID-19 cases, with more than 11...

Art auctions saw a record year in 2021 with $17.1 billion (15.6 billion euros) in sales as the market continued its rapid growth in Asia and recovered from its coronavirus slump, experts Artprice said Monday. The figure marked a 60-percent increase on 2020, when sales were hit by the initial...

Saudi National Bank, with backing from its largest shareholder, the Public Investment Fund, is looking to make big acquisitions in Europe and Asia.

The London-headquartered bank on Tuesday reported pre-tax profit of $18.9 billion in 2021, up $10.1 billion on the year before, helped by lower bad loans and operating expenses.

The acquisition for around $5.4bn part of Intel's IDM 2.0 strategy.

The production of semiconductors, also known as chips, has become a strategic priority in Europe as well as the United States, after the pandemic choked off supply.

IEA said the demand for natural gas is expected to fall sharply in Europe and slow in Asia. Gas demand rebounded last year as the world economy recovered from the Covid pandemic and restrictions were eased, while an unusually cold winter also drove up consumption.

On Wall Street, the broad-based S&P 500 had its best December in over a decade, and scored a third straight year of double-digit gains with a 27.1% jump.

Traders were awaiting the latest US consumer price data, set for release Friday, which is expected to show inflation climbing higher last month.

Firms linked to travel were among the worst affected as investors fretted over the possibility of more government-mandated restrictions.

Lebanon's diaspora -- estimated to number at least three times the country's 6-million population -- will take part in the vote for the 128-seat parliament, making them a powerful electoral force. In some parts of Europe, volunteers set up registration centers to help compatriots sign up.

The Matchmaking Forum is one of the most important commercial initiatives of ProColombia, which is being organized at Expo 2020 Dubai as part of the Colombian national strategy to take advantage of Free Trade Agreements and to promote the exports of the country’s companies.

InvestSP Corporation and the Global Logistics Passport initiative have signed a Memorandum of Understanding or MoU for better shipping and logistics.

Dubai Multi Commodities Centre (DMCC) has sold a 100+ carat rough diamond for $5.218 million (US$ 44,004 per carat) in a record tender hosted at the Dubai Diamond Exchange (DDE). The 118.58-carat type IIa stone was viewed by top diamond trading companies from Asia and Europe at a tender hosted...

Together, the airlines are making millions of reward seats available for frequent flyers to access more than 100 destinations.

While the mood is generally upbeat, analysts remain cautious owing to the constant threat of the pandemic.

The United Arab Emirates is seeking to lure $150 billion in foreign investments as part of a broad nine-year plan to strengthen its trade and economic ties in Asia and Africa.

The launch of the tool is in line with the emirate’s new target to boost its foreign trade from around $380 billion to around $545 billion over the next five years.

Arab News, the Middle East’s leading English-language daily, has recently announced the launch of a Pakistan online edition, as part of the newspaper’s ongoing global and digital expansion. The service — available in English at www.arabnews.pk — covers news and views from Pakistan and the wider region, with a special...