• Eurozone business activity stabilizes in March

    Brussels, Belgium - Business activity in the eurozone stabilized in March thanks largely to a "modest recovery" in the service sector, a closely watched survey showed on Thursday. The HCOB Flash eurozone purchasing managers' index (PMI) published by S&P Global stood at 49.9 in March, up from 49.2 in February. A figure...
  • Spain announces US$21.87m in funding to UN Palestinian refugee agency

    Madrid, Spain--Spain said Thursday it would give an additional $21.87 million to the UN Palestinian refugee agency UNRWA, which is facing a cash crunch after several nations suspended their funding. The agency has been at the centre of controversy since Israel accused about a dozen of its employees of involvement in...
  • Global stock markets swing ahead of Fed’s latest rate decision

    "Markets are eagerly anticipating today's meeting from the Federal Reserve with traders looking for signs over whether a March rate cut is plausible," said Joshua Mahony, chief market analyst at Scope Markets.
  • Spotify cuts 17% jobs

    Spotify has invested over $1 billion into podcasts alone.
  • Lufthansa Q3 profit $1.3bn

    38 million passengers travelled with the group's airlines in the third quarter.
  • Turkey set to realize long-term goal with bid to host Euro 2032

    Turkey missed out to Germany for Euro 2024, with UEFA's evaluation of the bid highlighting concerns about the country's "lack of an action plan in the area of human rights". After four failed attempts, and having joined forces with Italy, the lack of any rival contenders means Turkey is now...
  • Turkey, Italy seek joint hosting of Euro cup 2032, says UEFA

    Paris, France - Italy and Turkey have asked to jointly host the 2032 European Championship, UEFA announced on Friday. European football's governing body said it had "received a request" from the Italian (FIGC) and Turkish (TFF) football federations "to merge their individual bids into one joint bid". In 2021, UEFA initiated...
  • Europe still under inflationary pressure, says ECB head

    European Central Bank president Christine Lagarde said that a closely watched measure of eurozone inflation does not appear to have peaked yet, fueling expectations of further interest rate hikes. She told a hearing of the European parliament that the latest data suggests "indicators of underlying inflationary pressures remain high.
  • Stocks jump, dollar falls as Federal Reserve seen curbing rate rises soon

    Equity markets rose, with Paris hitting a record-high, as investors reacted positively to easing inflation, recession concerns and some strong earnings. The dollar hit a year-low against the euro after official data this week showed high inflation slowing in the United States, fanning hopes the Federal Reserve would soon stop...
  • Asian markets up on recovery hopes, yen sinks after BoJ decision

    Weak earnings from banking titan Goldman Sachs, a jobs warning by Microsoft, and a plunge in manufacturing data highlighted the bumpy road ahead for the United States, the world's top economy, despite optimism over inflation and the improving interest rate outlook.
  • Europe’s inflation declines for first time in 17 months: EU agency

    Boosted by soaring energy and food bills triggered by Russia's war in Ukraine, the rate of price increases had hit a new historic record every month since November 21. The November figure will decrease pressure on the European Central Bank to further increase interest rates, although its president has expressed...
  • Stock markets rally, as euro briefly surges

    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.
  • Euro hits 20-year low against dollar amidst economic uncertainties

    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.
  • Euro faces many hurdles on way to recovery against dollar

    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...
  • Equities fall, euro slides below $1 on US inflation data

    Global stocks fell Wednesday and the euro dipped below $1.00 for the first time in nearly 20 years after data showed a surge in US inflation last month, convincing investors that further increases in borrowing costs are on their way.
  • Euro slides to be at par with dollar as recession fears rise

    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.
  • France to proceed with second phase of digital euro experiment : Central Bank

    France's central bank said Tuesday it will push ahead with the second phase of its experiment with a digital euro with the aim of rolling out the cryptocurrency next year. Last year, the Banque de France successfully completed the first stage of its experiment with a central bank digital currency. "We'd...
  • Euro strikes parity with Dollar for first time in nearly 20 years

    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...
  • Asia stocks drop, euro stuck at 20-year low on recession fear

    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.
  • US companies struggle with rising dollar

    The rapid rise of the US dollar since the start of the year is a double-edged sword for American multinational companies, pushing some of them to decide whether to hedge or reposition their activities abroad to avoid fallout. And they also lose money when converting foreign revenue back into dollars.
  • Euro slides to two-year low as ECB dithers over rate hike

    The euro slumped to a near two-year low on Thursday after the European Central Bank remained vague about when it will raise interest rates in the face of soaring inflation. The ECB stood still in the face of record eurozone inflation, keeping its stimulus plans and rates unchanged.
  • High demand for G6 currencies leads DGCX trading volumes

    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...
  • 90 percent of Arab transactions made in six currencies: AMF director general

    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...
  • Turkey faces medicine crisis as currency loses value

    Turkey has been rattled by a currency collapse that accelerated by President Recep Tayyip Erdogan’s last-month steps that defy conventional policies.
  • Mubadala signs two deals to facilitate investments in France

    Mubadala Investment Company (Mubadala) has revealed that it signed two agreements to facilitate investments in sectors of mutual priority and interest in France.