In its latest annual report on the outlook for oil demand, OPEC sees global oil demand rising by 18.6 percent from 103.7 million barrels per day in 2024 to around 123 mbd in 2050.

After Congress gave Trump a big win last week with his fiscal package, the Republican's aggressive trade posture has returned with a vengeance this week. On Tuesday, he added threatened levies on copper and pharmaceuticals to a laundry list of countries warned of higher tariffs.

While Trump imposed a sweeping 10 percent tariff on goods from almost all trading partners in April, higher rates customized to dozens of economies were unveiled, then halted until July 9. But the president this week again delayed their reimposition, pushing it back to August 1.

BRICS leaders on Sunday described Trump's stop-start tariff wars as "indiscriminate", damaging, and illegal, drawing a quick rebuke from the pugilistic US president.

Washington, United States -- US tariffs will kick in on August 1 if trading partners from Taiwan to the European Union do not strike deals with Washington, Treasury Secretary Scott Bessent said Sunday. The rates will "boomerang back" to the sometimes very high levels which President Donald Trump had announced...

Rio de Janeiro, Brazil -- BRICS leaders meeting in Rio de Janeiro from Sunday are expected to decry US President Donald Trump's "indiscriminate" trade tariffs, saying they are illegal and risk hurting the global economy. Emerging nations, which represent about half the world's population and 40 percent of global economic...

Jakarta, Indonesia -- Indonesia broke ground Sunday on a $5.9 billion megaproject for EV battery production backed by Chinese giant CATL, despite NGOs raising concerns over a lack of environmental guarantees. Indonesia is the world's largest nickel producer and it is trying to capitalize on its vast reserves, with a...

The deal will see US companies benefit from a "side-by-side" solution under which they will only be taxed at home, on both domestic and foreign profits, the G7 said in a statement released by Canada, which holds the group's rotating presidency.

Dubai, UAE -- A planned trade corridor linking the landlocked Sahel to the Atlantic is at the heart of an ambitious Moroccan project to tackle regional instability and consolidate its grip on disputed Western Sahara. The "Atlantic Initiative" promises ocean access to Mali, Burkina Faso and Niger through a new...

Beirut, Lebanon -- The World Bank announced on Wednesday it had approved $250 million to support Lebanon's post-war reconstruction and a $146 million grant to rehabilitate neighboring Syria's electricity sector. Lebanon is reeling from last year's devastating war between Israel and Iran-backed Hezbollah, while Syria faces massive needs after Islamist-led...

The Fed has a duty to prevent a one-time spike in prices from becoming an "ongoing inflation problem," said Federal Reserve Chair Jerome Powell before the House Committee on Financial Services.

Economists at MUFG warned of "high uncertainty of the outcomes and duration of this war", giving a "scenario analysis" of an oil price increase of $10 per barrel.

New York, United States - Tesla announced Friday that it signed an agreement to build its first grid-scale energy storage power station project in mainland China. The project will help with the flexible adjustment of grid resources, and "effectively solve pressures relating to urban power supply," Tesla said in a...

Presenting the annual report at a press conference, UNCTAD chief Rebeca Grynspan said it contained a "clear and urgent" message that FDI remains weak -- with the outlook negative for this year.

Fed Chair Jerome Powell told reporters the central bank would make better decisions if it waited a few months to understand how tariffs impact inflation, spending and hiring, in a sign that the next rate adjustment could take some time to materialize.

Hong Kong, China - Asian stocks fell Thursday after the Federal Reserve warned Donald Trump's trade war would likely reignite US inflation and dampen economic growth, while oil prices edged down as investors awaited developments in the Israel-Iran conflict. While geopolitical tensions are the key focus for markets, traders were...

Oil prices steadied Wednesday after Trump’s demand for Iran’s ‘unconditional surrender’ roiled markets and revived supply fears, as regional diplomacy and major Gulf business deals unfolded alongside.

Washington, United States - The US central bank is expected to hold interest rates steady Wednesday after its key policy meeting, as officials gauge the impact of tariffs on inflation -- and despite President Donald Trump's calls for rate cuts. The Federal Reserve has kept the benchmark lending rate unchanged...

London, United Kingdom -- Stablecoins -- a form of cryptocurrency backed by traditional assets -- are gaining traction, with the US Senate set to vote Tuesday on a bill to regulate such digital tokens. But as stablecoins move closer to the financial mainstream, experts warn that weak regulation could leave...

IEA cited sluggish economic growth, global trade tensions, the rise of electric cars and the shift away from crude to produce power. Annual demand growth will slow from around 700,000 barrels per day (bpd) in 2025 and 2026 "to just a trickle over the next several years, with a small...

Israel's surprise strike against Iranian military and nuclear sites on Friday -- killing top commanders and scientists -- sent crude prices soaring as much as 13 percent at one point on fears about supplies from the region.

Israeli Prime Minister Benjamin Netanyahu says there’s a fresh opening to free hostages held in Gaza, backing a US-mediated proposal for a 60-day ceasefire as Israel continues its unprecedented military exchange with Iran.

New York, United States -- 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...

The bank lowered its projection for global GDP growth to 2.3 percent in its latest economic prospects report, down from 2.7 percent expected in January, the latest in a series of downgrades by international organizations.

Riyadh, Saudi Arabia -- The International Monetary Fund (IMF) has revised upwards its forecast for Saudi Arabia's economic growth to 6 percent in 2025, an increase from the earlier prediction of 5.5 percent. This adjustment from earlier estimates reflects the impact of extended oil production cuts and a slower-than-expected rebound...

Agentic AI, spatial intelligence and robotic advancements in manipulation and adaptive control are enabling autonomous systems to make intelligent decisions in complex environments, driving progress in automotive and smart manufacturing.

On a visit to Riyadh earlier this month, US President Donald Trump said he would lift US sanctions on Syria, a move that should help pave the way for economic recovery in the war-torn country.

Geneva, Switzerland – The global economic outlook has worsened since the start of the year, as rising economic nationalism and tariff volatility fuel uncertainty and risk stalling long-term decision-making, according to a World Economic Forum report released today. The latest Chief Economists Outlook reveals that a strong majority (79 percent)...

London, United Kingdom -- Britain's South Western Railways on Sunday becomes the first private train operator to be returned to public ownership under the Labor government's plans to renationalize the country's much-maligned railways. Renationalizing all of the UK's rail operators is among the key policies launched by Prime Minister Keir...

Washington, United States -- US President Donald Trump on Friday threatened Apple with a 25 percent tariff if the iPhones the company sells in the United States are not manufactured locally. In a post on Truth Social Trump said he had "long ago informed Tim Cook of Apple that I...

Morocco on Monday signed deals with an Emirati-Moroccan consortium for energy and water infrastructure projects, which according to one of the companies involved were worth more than $14 billion.

Beijing, China - Factory output in China grew at a faster rate than expected last month, official data showed Monday, weathering a brutal trade war with Washington. Industrial production in the export powerhouse grew 6.1 percent on-year in April, according to figures published by the National Bureau of Statistics (NBS)....

Muscat, Oman -- The general inflation rate in the GCC countries rose by 1.7 percent at the end of December 2024 compared to the figures recorded during same month of the previous year, according to the Consumer Price data released by the Statistical Centre for the Cooperation Council for the...

Moody's on Friday downgraded the United States's credit rating from the top triple-A level, citing rising levels of government debt and dealing a blow to Donald Trump's narrative of economic strength and prosperity.

The S&P 500 has risen the last four sessions, extending the positive momentum after last weekend's trade talks resulted in both the United States and China lowering tariffs on each other for 90 days.

For travel and tourism companies based out of the Middle East, utilizing technology to optimize the content creation process, and enabling content editing for Arabic language is crucial. This empowers them to target their core segment and showcase their fluent communication to specific micro markets, leading to better dividends.

Under imposing chandeliers, Trump welcomed a promise by Crown Prince Mohammed bin Salman, who effectively rules the kingdom due to King Salman's frail health, for $600 billion in investment and quipped that it should be $1 trillion.

The US and China will Monday give details of "substantial progress" touted by Washington on trade talks aimed at ending a devastating tariff war launched by US President Donald Trump that has wiped billions off equities and brought chaos to international commerce.

Damascus, Syria - Syrian Energy Minister Mohammad al-Bashir said Friday Damascus and Ankara had reached a deal for Turkey to supply natural gas to the war-torn country via a pipeline in the north. "I agreed with my Turkish counterpart Alparslan Bayraktar on supplying Syria with six million cubic metres of...

Washington, United States -- The US Federal Reserve is widely expected to extend a recent pause in rate cuts this week as it waits to see how President Donald Trump's stop-start tariff rollout affects the health of the world's largest economy. Trump has imposed steep levies on China, and lower...

Rome, Italy --  The Food and Agriculture Organization of the United Nations (FAO) released a new Cereal Supply and Demand Brief on Friday, with revised estimates for 2024 and fresh insights on cropping conditions and prospects for 2025. FAO’s latest forecast for 2025 wheat production is pegged at 795 million...

Buffett transformed Berkshire Hathaway from a medium-sized textile company when he bought it in the 1960s into a giant conglomerate,

Saudi Arabia, along with Russia and six other members of the oil cartel, will implement a production adjustment of 411,000 barrels a day out of the ground, as in May, according to a OPEC+ statement, whereas the initial plan called for an increase of just 137,000 barrels.

In a dizzying first three months, Trump wielded executive power like no other modern president, signing more than 140 orders on immigration, culture war issues and slashing the federal bureaucracy.

The Franklin Templeton Emerging Markets Equity outlook emphasizes how GCC countries have reduced their dependence on oil and gas, opened their capital markets, and diversified their economies — all underpinned by strong fiscal positions that bolster investor confidence.

"Growth is still projected to increase in 2025 and 2026, but at a considerably slower pace than anticipated last October," the IMF said in its regional report.

United States officials have reached out to their Chinese counterparts for talks on vast tariffs that have hammered markets and global supply chains, a Beijing-backed outlet said on Thursday citing sources.

Stocks moved sideways on Monday after notching four straight positive sessions last week as Trump adopted a more conciliatory posture on the trade war with China and said he doesn't plan to fire Federal Reserve Chair Jerome Powell.

Since returning to the presidency in January, US President Donald Trump has imposed 10 percent tariffs on most US trading partners and a separate 145 percent levy on many products from China.

Beijing, China - President Xi Jinping said China must "overcome" the challenges of developing core AI technologies including high-end chips, state media reported Saturday, as Beijing seeks to become a world leader in the rapidly developing industry. China aims to dominate the artificial intelligence sector, a goal complicated by the...