Libya earns around $20 billion per year in net revenues from oil and gas exports, which accounts for around 95 percent of state revenue. Much of this wealth pays for a bloated public sector that employs almost one third of the population, as well as for state subsidies meant to...
Protesters in Morocco demand government act on cost of living
CASABLANCA, MOROCCO - Hundreds demonstrated on Sunday in Morocco's economic capital Casablanca to protest against the surging cost of living in the North African country and urged action by the government, AFP correspondents said. Protesters from the Democratic Labor Confederation (CDT) rallied in Casablanca's historic center "to shout out our...
Proactive govt policies, high rates, slow global growth to lower impact of inflation in Gulf region
The GCC countries are likely to benefit from the relative stability in their financial covers due to high oil prices and strong energy exports in 2022, reports suggest.
The turbulent twenties, when risks collide
The world’s top current risks are energy, food, inflation and the overall cost of living crisis. Over the next two years, the cost-of-living crisis remains the number one threat, followed by natural disasters and trade and technology wars, she adds, quoting the WEF's Global Risks Report 2023.
Cost of living crisis biggest short-term risk: WEF Report
The World Economic Forum’s Global Risks Report 2023 says conflict and geo-economic tensions have triggered a series of deeply interconnected global risks, including energy and food supply crunches, which are likely to persist for the next two years, and strong increases in the cost of living and debt servicing.
Global leaders need to deal with cost-of-living crisis
Now is the time for emerging market policymakers to batten down the hatches. Eligible countries with sound policies should urgently consider improving their liquidity buffers by requesting access to precautionary instruments from the Fund, adds the IMF's Economic Counsellor Gourinchas.Dubai most expensive city in Arab world
Mercer’s 2022 Cost of Living City Ranking ranks the emirate the 31st most expensive city in the world.
Britain’s new finance minister Nadhim Zahawi inherits a cost-of-living crisis
Britain's new finance minister, Iraqi-born Nadhim Zahawi, has inherited a cost-of-living crisis that risks pushing the UK economy into recession. The former education minister was parachuted into the Treasury late Tuesday after predecessor Rishi Sunak's shock resignation over the culture of scandal plaguing Prime Minister Boris Johnson. Johnson also lost...
Inequality widens in Britain as financial sector salaries increase
Salaries in Britain's financial sector have surged in recent months, widening inequality amid the nation's cost-of-living crisis, a study showed Wednesday. Average monthly pay in the industry jumped 31 percent in February from December 2019, propelled by high-earners, the Institute for Fiscal studies (IFS) said in a report. The performance,...Who tops inflation list of 10 Mideast countries?
Over time, inflation has come to be defined as how much a currency has lost value over a specific period.
Monthly rent in Kuwait can eat up 38 percent of your income
Average monthly rent for a three-bedroom apartment in Kuwait is about 475 KD ($1579), according to a survey by a UK-based website
Inflation delays start of Turkey’s rate cuts
Turkey's central bank has left its policy rate unchanged for the fourth month running as a spike in inflation to a two-year high delayed hopes of borrowing costs being lowered.
Beirut costliest Middle Eastern city for expats, while cost of living eases in Dubai, Abu Dhabi
Abu Dhabi and Dubai fell 17 and 19 places respectively on Mercer Cost of Living Survey this year Riyadh remained most expensive Gulf city even as the cost of living fell in most part of the region this year While Beirut remained the third most expensive cities in the world...
Beirut most expensive city for expats Middle East: Mercer
Cost of living fell in most Gulf cities in 2021; Riyadh most expensive Gulf city Abu Dhabi and Dubai fell 17 and 19 places respectively on Mercer Cost of Living Survey this year Beirut was the most expensive city in the Middle East and third most expensive...
