Jeremy Hunt was put in place on Friday after Prime Minister Liz Truss sacked Kwasi Kwarteng as she battles to save her political career just weeks after taking the keys to Downing Street. Hunt is tipped to tear up the previous plans and warned at the weekend of tax hikes...

The exchange rate reached more than 5,000 Syrian pounds to the US dollar for the first time since the start of the conflict more than a decade ago. Syria's official exchange rate has stood at around 3,015 pounds to the greenback since Sept-- compared to 47 pounds to the dollar...

Stocks mostly slid and the dollar surged after US jobs data showed only a timid slowdown in the labor market, setting the stage for further interest rate hikes. Equity markets have taken a battering as the US Federal Reserve has made it clear it intends to continue raising interest rates...

Turkish inflation jumped to a new 24-year high exceeding 83 percent in September, official data showed Monday after the central bank cut interest rates despite surging prices.

Continuing with its slide against the dollar, the pound hit a record low on fears about the UK economy after the government presented a huge tax-cutting budget. Countries around the world are battling high inflation and seeking to curb it with interest rate hikes. But analysts fear such moves can...

Stock markets tumbled, the pound crashed against the dollar and oil prices slumped on growing recession fears after central banks this week hiked interest rates to fight inflation. Monetary policymakers have been forced to go on the offensive, warning that short-term hits to economies are less painful than the long-term...

Equities around the world have been clattered by fears of a recession in major economies as central banks ramp up borrowing costs to combat the highest inflation in decades, which has been compounded by the Ukraine war and supply chain snarls.

With four out of five Lebanese now considered poor according to the United Nations, the country has been desperately seeking a bailout from the International Monetary Fund.

PIF will pick up $1bn stake in Seera Group's travel unit.

Stock markets rallied Monday, building on pre-weekend momentum as investors priced in the expectation of further interest rate hikes aimed at taming decades-high inflation. The euro surged, a day after German central bank chief Joachim Nagel signaled that the European Central Bank (ECB) would probably continue raising its key rate.

Egypt has raised customs dollar to its highest level in history, a measure likely to inflate the price of imported goods.

The euro fell 0.70 percent to 0.9884 dollars Monday at 0535 GMT, its lowest since December 2002. The European currency has continued to weaken against the dollar since the start of the year, hammered by economic turbulence and uncertainties sparked by Russia's invasion of Ukraine.

Stock slumped on Friday after Federal Reserve boss Jerome Powell pledged to act "forcefully" against soaring inflation in a battle that will be painful for Americans. The Fed has been on a campaign to raise interest rates and Powell said at Jackson Hole that the fight against inflation is not...

Cross-currency payments cut the need for foreign transaction fees for customers, encourage customer loyalty and reduce cart abandonment but they have their drawbacks.

The gold and jewelry sector in Saudi Arabia has recorded a 36 percent growth in sales as the economy shows signs of recovery

The Indian rupee fell to more than 80 per US dollar for the first time on record Tuesday, as the greenback extended its rally and foreign capital outflows intensified.

The euro's plunge against the dollar, triggered by the Ukraine war and mounting risks to the EU economy, has driven the two currencies to parity for the first time in two decades. The European single currency sank to $0.9952 on Thursday -- a level not seen since the end of...

The euro struck parity with the dollar for the first time in nearly 20 years on Tuesday as a cut in Russian gas supplies to Europe heightened fears of a recession in the eurozone.

The euro struck parity with the dollar Tuesday for the first time in nearly 20 years as a cut in Russian gas supplies to Europe heightened fears of a recession in the eurozone. The European single currency hit exactly one dollar -- its lowest level since December 2002 -- before...

The Central Bank of Iraq said Sunday that there is no reason for changing the exchange rate of the Iraqi dinar against the US dollar. The economic conditions will determine the appropriate decision that fits the time period

Adding to the uncertainty was a fresh flare-up of coronavirus cases in parts of China that has seen some cities locked down as part of officials' zero-Covid policy.

Tadawul has posted more than 30 trades in single-stock futures on its launch as Aramco and Saudi Telecom Co. led the trading.

The UAE government has announced it will issue a dual-tranche US dollar benchmark size bonds with a 10-year tranche and a 30-year Formosa tranche. The 10-year tranche will be listed on London Stock Exchange (LSE) and Nasdaq Dubai, and the 30-year tranche will be listed on London Stock Exchange (LSE),...

Surging energy costs are fueling global inflation, with official data Wednesday showing the British annual rate hitting a fresh 40-year high above nine percent.

Turkey's inflation climbed to its highest level since 1998, hitting an annual 73.5 percent in May, official data showed Friday, an issue dogging President Recep Tayyip Erdogan ahead of elections next year. Critics have blamed the country's economic woes on Erdogan's unorthodox economic policy of pushing for lower interest rates...

The Indian rupee plunged to an all-time low against the greenback on Monday, as US monetary policy tightening roiled sentiment and foreign investors continued to dump domestic stocks. The rupee fell past its previous record low of 76.98 against the US dollar in March to 77.56 on Monday.

Online payments giant Stripe on Friday said it will start letting Twitter stars get paid in a dollar-pegged form of cryptocurrency in the latest endorsement of digital money.

The yen hit its lowest level against the dollar in two decades on Wednesday, extending recent falls as the gap widens between Japan's ultra-loose monetary policy and US tightening. One dollar bought 126 yen on Wednesday afternoon, the lowest rate since 2002.

Credit rating agency S&P Global Ratings on Saturday downgraded Russia's foreign currency payments rating to "selective default" after Moscow paid a dollar-denominated debt in rubles this week.

The Dubai Gold & Commodities Exchange (DGCX) recorded a monthly Average Open Interest (AOI) of 134,154 contracts during the month of March, and registered trading volume with a total value of $15.74 billion. In response to further inflation, policy decisions and continued geo-political conflict around the globe, there was a...

Dubai ended Expo 2020 with a colorful closing ceremony punctuated by fireworks as the UAE leadership vows to 'continue to Connect Minds and Create the Future'.

Six currencies account for 90 percent of transactions in the Arab world, said Dr. Abdulrahman bin Abdullah Al Hamidy, Director-General and Chairman of the Board of Executive Directors of the Arab Monetary Fund (AMF). The currencies are the Emirati Dirham, the Saudi Riyal, the Egyptian Pound, the Jordanian Dinar, the...

The value of the Egyptian pound shed 13 percent against the US dollar on Monday, registering 17.80 pounds against the greenback after a recent rise in inflation.

Lebanon's energy industry sees a loss of up to $2bn every year as state treasury pays over $50bn in advances to Electricité du Liban. Can solar power offer relief to general public?

stc, Saudi Arabia's top telecom firm, has posted a three percent increase in net profit to $3 billion in 2021 on the back of improved sales.

More than two years into a financial crisis that has seen the local currency lose 90 percent of its value, the reputation of Lebanese lenders has been shredded.

Nawy, a Cairo-based property dealer, obtained a seed funding round of $5 million, led by the Sawiris family office.

Al-Dawaa, a pharmaceutical retail firm in Saudi Arabia, has set the price range for its initial public offering at SR65 ($17.3) to SR73 per share.

Dubai Islamic Bank has successfully priced its $750 million five-year senior sukuk, taking advantage of global interest in Islamic bonds. The bank is the largest Islamic lender in the UAE.

Abu Dhabi Ports Group has raised $1.1 billion from a share sale a day before it is to list on the emirate’s stock market. The firm is owned by sovereign wealth fund ADQ. The proceeds will be used to “accelerate local and international expansion plans.

The Egyptian government has partnered with the German energy storage firm H2 Industries to set up a green hydrogen plant in the country.

For several years, there has been a rush of investments from GCC countries into European sports. TRENDS explores the reasons that woo Gulf investors beside profits.

In the last two years, Saudi Arabia has attracted more than $2 billion in investments in cloud computing according to Deputy Minister for Technology Development Nawaf D. Al-Hoshan.

ExxonMobil reported a profitable fourth-quarter Tuesday to conclude a strong comeback year in 2021 on higher oil prices amid recovering energy demand.

The current midmarket rate for a US dollar is LBP1,500, while the black-market rate is more than LBP23,000 to the dollar.

Qatar World Cup ticket sales were launched at reduced prices on Wednesday with residents and migrant workers able to attend games for just $11 as concerns persist over Covid-19.

The midmarket rate for the Lebanese pound is around 1,500 to the dollar, but the reality on the ground is that the black-market rate of 30,000 prevails.

Consumer prices jumped to 36.1 percent last month from the same period in 2020, up from 21.3 percent in November.

Finance Minister Nureddin Nebati urged citizens to sue economists who comment on social media about the lira's slide. His remarks followed the banking regulator's decision to file complaints against more than 20 people over their Twitter posts.

The Turkish lira on Thursday hit fresh lows after the central bank fired the latest salvo in President Recep Tayyip Erdogan's "economic war of independence" by cutting interest rates for the fourth successive month. The reduction of the main rate to 14 from 15 percent comes in the face of...