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...

Beirut, Lebanon -- Lebanon's parliament on Thursday approved amendments to banking secrecy legislation, a key reform demanded by the International Monetary Fund, as Lebanese officials hold meetings with global finance institutions in Washington. A statement from speaker Nabih Berri's office said parliament passed amendments to "the law related to banking...

A meaningful “G3” accord between the US, Europe, and China must include coordinated fiscal, monetary, development, and trade policies. From reducing the US fiscal deficit to boosting China’s domestic consumption and reforming global trade norms, such a grand bargain could modernize outdated systems and spark a long-overdue recalibration of global...

Trade tensions between the world's two biggest economies have soared as Trump ramped up levies on imports from China this year, imposing an additional 145 percent tariff on many products over practices Washington has deemed unfair, and other issues.

Washington, United States -- The International Monetary Fund on Tuesday slashed its forecast for global growth this year, citing the effect of US President Donald Trump's new tariff policies on the world economy. The IMF's projections, which incorporate some but not all tariff measures introduced this year, see the global...

The IMF's Global Financial Stability Report (GFSR) was published as world financial leaders gather for meetings in Washington under the cloud of policy uncertainty triggered by Trump's tariff announcements. The administration's tariff plans "triggered a bout of policy uncertainty," which was only exacerbated by the retaliatory measures unveiled by China,...

China on Monday hit out at other countries making trade deals with the United States at Beijing's expense, promising countermeasures against those who "appease" Washington in the blistering tariff war.

The UAE climbed from 17th to 11th globally in merchandise exports and from 18th to 14th in imports between 2021 and 2024, contributing 2.5 percent to global merchandise exports and 2.2 percent to imports. Exports reached $603 billion and imports totaled $539 billion in 2024.

UNCTAD report '"Trade and Development Foresights 2025 – Under pressure: Uncertainty reshapes global economic prospects” cited mounting threats including trade policy shocks, financial volatility and a surge in uncertainty that risk derailing the global outlook.

 The Saudi-led oil cartel said in a monthly report that it now expects demand to grow by 1.3 million barrels per day (bpd) in 2025, down from a previous forecast of 1.4 million bpd. The "minor adjustment" was mainly due to first-quarter data and "the expected impact on oil demand...

China said Monday that exports soared 12.4 percent year-on-year last month, beating expectations as Beijing navigated mounting trade headwinds sparked by US President Donald Trump.

Riyadh, Saudi Arabia -- The Communications, Space, and Technology Commission (CST) has said that the Saudi space economy reached $8.7 billion last year, including all value-added activities and industries from space technologies and services. The size of the space market reached $1.9 billion, according to the KSA Space Market 2025...

London, United Kingdom -- Why do investors flock to gold when economic times turn tough? As the precious metal reaches record highs AFP explains why it remains such a trusted lifeline. The trading turmoil unleashed by US President Donald Trump's tariffs has triggered a record run for gold, widely viewed...

Jitters about US tariffs hammered Asian stocks again early Friday as President Donald Trump acknowledged a "cost" to his surging trade offensive against superpower rival China..

Emirati President Mohammed bin Zayed Al Nahyan "and I just decided to launch negotiations on an EU-UAE free trade agreement," the European Commission president wrote on X. "This agreement will strengthen our bilateral relations and contribute to the prosperity of the broader region."

Prime Minister Mohammed Shia al-Sudani oversaw "the signing of a Memorandum of Understanding as part of a strategic cooperation framework with US energy firm GE Vernova, his office said, calling it "the largest and most advanced electricity generation initiative in Iraq's history."

The World Bank announced Tuesday it will provide Jordan with $1.1 billion in new financing to support economic reforms and expand social protections as the kingdom struggles with mounting debt.

US President Donald Trump's punishing tariffs on dozens of economies came in force Wednesday, including over 100 percent in levies against Chinese goods, dramatically ramping up a devastating global trade war.

China vowed on Tuesday to "fight to the end" against fresh tariffs of 50 percent threatened by US President Donald Trump, further aggravating a trade war that has already wiped trillions off global markets.

Trump's sweeping tariffs are reshaping trade dynamics across MENA, impacting oil-exporting Gulf nations like Saudi Arabia, UAE and Qatar, according to Atlantic Council experts.

Trading floors across the globe were overcome by waves of further selling after last week's sharp losses, with Trump telling Americans to "be strong, courageous, and patient," minutes before the New York stock market opened to drops of over three percent.

Abu Dhabi, UAE --  Abu Dhabi Customs reported a 9 percent increase in the emirate’s non-oil foreign trade in 2024, reaching AED 306 billion ($83.29 billion), compared to AED 281.9 billion in 2023, reflecting the vitality of the emirate’s economy and its growing relations with trading partners around the globe....

US President Donald Trump's widest-ranging tariffs to date took effect Saturday, in a move which could trigger retaliation and escalating trade tensions that could upset the global economy.

Wall Street led a global markets bloodbath Thursday as countries around the world reeled from President Donald Trump's trade war, while the White House insisted the US economy will emerge victorious.

After Trump on Wednesday unveiled a blitz of harsher-than-expected levies aimed at countries around the globe, Ngozi Okonjo-Iweala warned the measures would "have substantial implications for global trade and economic growth prospects".

The tariff announcements rattled stock markets while safe haven gold hit a new record high, oil prices fell and the dollar slumped against other major currencies.

China on Thursday said it "firmly opposes" sweeping new US tariffs on its exports and vowed "countermeasures to safeguard its own rights and interests".

Trump kept rivals and allies alike guessing about who would be targeted and by how much, but promised to be "very kind" when addressing what he has dubbed "Liberation Day" on Wednesday. Global stocks remained volatile ahead of the so-called "reciprocal tariffs," which Trump says are necessary to combat unfair...

Paris, France -- From champagne to steel and now cars: it is getting harder to keep up with US President Donald Trump's growing tariff target list and the retaliatory measures by trade partners. Here is a rundown of what has been implemented, threatened and coming next in an escalating trade...

Born in 1964, Souaid officially takes over after embattled former chief Riad Salameh's term expired in July 2023 with no designated successor. Divided politicians had since failed to agree on a permanent replacement for Salameh, who has been accused at home and abroad of financial crimes.

US President Donald Trump has announced steep tariffs on auto imports and parts, provoking threats of retaliation from trading partners ahead of further promised trade levies next week.

"We are navigating troubled waters," said the OECD's chief economist Alvaro Santos Pereira as he summed up the world's economic situation in the coming months, with inflation set to rise. US President Donald Trump's return to the White House is in part responsible for the coming turbulence, the OECD said...

Since January, Trump has imposed levies on major trading partners Canada, Mexico and China, and on steel and aluminum imports, roiling financial markets and fanning fears that his plans could tip the world's biggest economy into a recession.

The technology will likely automate millions of jobs, Mark J. Penn, a US businessman, political strategist, and author tells TRENDS in an exclusive interview.

Washington, United States - The International Monetary Fund has approved an additional $1.3 billion assistance program for Egypt under its Resilience and Sustainability Facility (RSF) meant to mitigate the impact of climate change, the organization said Tuesday. The Fund's Executive Board also completed the fourth review of an ongoing aid...

IoT applications are transforming critical sectors such as transportation, where connected vehicles improve traffic management, utilities where smart grids enhance energy efficiency, and healthcare, where remote monitoring optimizes patient care.

Istanbul, Turkey - Turkey's central bank on Thursday lowered its key interest rate for a third consecutive time as inflation has fallen below 40 percent for the first time since mid-2023. The monetary policy committee "decided to reduce the policy rate from 45 percent" in January to 42.5 percent, the...

Dubai, UAE -- The UAE’s real GDP increased by 3.8 percent during the first nine months of 2024 compared to the same period in 2023, reaching AED 1.322 trillion. This growth was driven by a strong expansion in non-oil sectors, which grew by 4.5 percent to AED 987 billion, reflecting...

The Trump administration’s trade tariffs and withdrawal from the Paris Agreement pose major risks to global economic growth and energy markets. Meanwhile, record energy investment surpassing $1.5 trillion signals cautious optimism, yet low-carbon spending remains stagnant. OPEC+ faces challenges in maintaining oil prices amid resilient non-OPEC supply, adding further uncertainty...

Humanity is on a tech-fueled trajectory. Data and informed predictions are inspiring, showing how AI is reshaping economies, smart cities are rising, and boundaries are dissolving.

Riyadh, Saudi Arabia -- Saudi Arabia's annual inflation rate in Jan 2025 reached 2 percent compared to January 2024, the kingdom's General Authority for Statistics (GASTAT) said in its Consumer Price Index (CPI) report for January 2025. According to GASTAT, Saudi Arabia's inflation rate is considered the lowest among the...

London, United Kingdom -- Major stock markets mostly rallied and oil prices retreated Thursday on hopes for an end to the war in Ukraine and despite fresh tariff threats.London was a rare faller owing to sharp losses to share prices of big companies, including Unilever, Barclays and British American Tobacco, on...

Dubai, UAE -- The International Monterey Fund (IMF) has projected global growth to remain at 3.3 percent this year and the next, before slowing to just above 3 percent over the next five years, well below the historical average.IMF Managing Director Kristalina Georgieva said that growth in the Middle East...