Tehran, Iran-- Trade between Iran and Azerbaijan has registered a 46 percent jump in 2022, according to the deputy prime minister of the Republic of Azerbaijan. Shahin Mustafayev, who is also the Azeri head of the Iran-Azerbaijan Joint Economic Cooperation Commission, stated that the relations between the two countries are...

The latest batch of data show higher borrowing costs starting to slow down consumption -- a key goal of the central bank. Turkey's gross domestic product rose by just 0.3 percent between July and September. It had risen by 3.3 between April and June.

Billions of dollars are being invested into ventures to grow food in the GCC to make the arid, hot region self-sufficient, in a sector vulnerable to the vagaries of war, climate and disease.

Muscat, Oman--Qatar Chamber (QC) Chairman Sheikh Khalifa bin Jassim Al-Thani has called for a unified policy for purchase of food and medicine at a meeting in Muscat. This came during his participation in the consultative meeting between GCC ministers of commerce and heads of unions and chambers of commerce and...

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...

The central banks of Saudi Arabia, Bahrain and Qatar raised their benchmark borrowing rates after the US Federal Reserve raised its key interest rate by 25 basis points last night.

FRANKFURT, GERMANY - More interest rate increases may be needed beyond the one coming later this month, European Central Bank president Christine Lagarde said Thursday, as inflation in the eurozone remains stubbornly high. "At this point in time, it's possible that we continue on that path," Lagarde told Spain's Antena 3...

Damascus, Syria-- Syrian student Ziad al-Ezz can no longer get to university as severe fuel shortages cripple the capital Damascus, pushing residents to seek alternatives for heating and shuttering businesses. With the country's economy battered by more than a decade of war, authorities have announced four fuel price hikes since the...

But the half-point jump analysts expect to see in the Fed's benchmark lending rate will still be a steep rise, as it struggles to cool demand in the United States to bring consumer costs down. Households in the world's biggest economy have been contending with red-hot prices.

Mumbai, India—India's central bank on Wednesday raised its main interest rate for the fifth time this year, but by a smaller margin as inflation eases and other countries look to slow the pace of hikes. The move by the Reserve Bank of India (RBI) comes after US Federal Reserve chairman Jerome...

BERLIN, GERMANY - The German government aims to put a stop to energy price hikes it sees as unjustified with planned gas and electricity price controls, Deutsche Presse-Agentur (dpa) reported Saturday. Price increases are to be prohibited until the end of 2023 - unless the supplier can prove "that the...

Global stocks rose as Federal Reserve boss Jerome Powell flagged a moderation in interest rate hikes, while China signaled a softer approach to fighting Covid. Asian and European equities tacked higher as investors eyed news that eurozone unemployment fell to a record 6.5 percent in October. Oil prices climbed before...

Most of the GCC states have raised their key interest rates in the wake of the Federal Reserve's decision to raise its key policy rate by three-quarters of a percentage point. The two largest economies of the region, the UAE and Saudi Arabia, both raised rates by 75 basis points.

Struggling to bring down the runaway inflation, the Bank of England is expected to hike its key interest rate on Thursday by the biggest amount since 1989. The BoE is expected to lift borrowing costs by 0.75 percentage points to three percent, according to market consensus, which would be the...

Global stock markets rose as traders looked to the US Federal Reserve's interest rate decision hoping it will signal a more dovish approach to fighting inflation. The Fed is widely expected Wednesday to announce a fourth straight 75-basis-point rate hike leading to worries it will tip the world's top economy...

Hike in profit was due to high oil, natural gas prices.

Volatile markets were mostly trading up after the ECB announced an expected hike to interest rates in the face of sky-high inflation and the US economy posted positive figures. The European Central Bank rolled out another increase of 75 basis points, despite growing concern the eurozone is hurtling towards a...

Qatar plans to hike its imports of Jordanian food products during FIFA World Cup Qatar 2022 as demand is expected to increase at unprecedented rates due to influx of over 1.5 million fans and visitors.

With US inflation soaring new heights, the country's central bank has said more increases are likely to come this year in order to cool the world's largest economy and rein in high prices. Federal Reserve Governor Lisa Cook said 'inflation remains stubbornly and unacceptably high.'

Asian and European stocks rallied and the dollar dipped as weak US data sparked hopes the Federal Reserve could ease its interest-rate hiking plans. Frankfurt and Paris equities soared over three percent in value after similar stellar gains in Tokyo, while London won two percent. Central banks across the world...

The capital will be raised through a rights issue.

Taking a cue from Federal Reserve, GCC central banks have raised interest rates, tracking a hike in the US Fed's benchmark rate. The US central bank announced its third consecutive interest rate increase of 0.75 percentage point, continuing the forceful action to tamp down inflation that has surged to the...

Global stock markets and oil prices jumped higher on Friday following recent heavy losses as the weakening economic outlook moderates expectations about central bank monetary tightening.

Equities struggled Wednesday after a brief respite from last week's painful rout across world markets, with recession fears continuing to build as central banks hike interest rates to combat inflation. Fears about a global contraction have also put downward pressure on oil prices.

Equities rose in most cities Tuesday in Asia as some stability returned to markets after last week's upheaval, but analysts warned of further pain for traders after central bank officials hinted at more interest rate hikes to reel in inflation. In commodities markets, oil extended gains as traders moved back...

Taking a cue from US Federal Reserve's decision to hike interest rate, Saudi Arabia, the UAE, and Bahrain have raised interest rates, too, to tame soaring inflation.

The US Federal Reserve announced the most aggressive interest rate increase in nearly 30 years on Wednesday, and said it is prepared to do so again next month in an all-out battle to drive down surging inflation. It was the first 75-basis-point increase since November 1994.

India's central bank on Wednesday hiked rates for a second time in as many months, as Asia's third-largest economy reels from galloping inflation in the wake of the Ukraine war.

Asian and European stocks tanked Friday, accelerating a global selloff on fears over the impact of interest rate hikes that seek to tackle sky-high inflation. The pound hit a two-year low at $1.2276, one day after the Bank of England (BoE) lifted UK borrowing costs to a 13-year peak and...

Major stock markets mostly steadied Tuesday, with traders braced for a sharp US interest rate hike to curb soaring inflation. All eyes are on the conclusion Wednesday of the US Federal Reserve's two-day policy meeting, where it is expected to lift borrowing costs by half a percentage point for the...

Asian and European markets fell in holiday-thinned trade Monday following another tech-led rout on Wall Street, with focus on the Federal Reserve's expected interest rate hike this week. All eyes are on the US central bank's policy meeting this week, which is expected to see it hike borrowing costs by...

The hike to SR1.336bn will be used to fund expansion plans.

Hard-pressed to prop up the economy and stem steep price hikes if the Ukraine war continues, Khaled Osaily, Economy Minister of the Palestinian Authority, is praying for peace.

The amount generated is expected to help families and businesses struggling with high bills.

Egypt's Suez Canal Authority announced Tuesday additional tolls for transiting vessels including fuel tankers, as oil prices soar in the wake of Russia's invasion of Ukraine. Petroleum gas tankers will see a 10 percent hike on passage fees while liquefied natural gas carriers and general cargo ships will incur a...

The end to subsidies pushes the cost of filling a vehicle's tank to more than the monthly minimum wage in the poverty-stricken nation. Subsidies were gradually phased out over the past few months to shore up diminishing foreign currency reserves.

If the Lebanese were expecting a measure of relief from the new Mikati government, they were badly disappointed. The government hiked the price of gasoline, cutting a subsidy that Prime Minister has said the country cannot afford.

Wataniya Insurance Company’s board of directors has recommended to increase the company’s capital through a $53.3 million rights issue, according to a bourse filing.

Saudi Arabia is aiming to lure private investors into the health sector of the kingdom with its plan to take private participation from 25 percent to 35 percent by 2030.

The flow of goods, the price of bread, and other food commodities will remain immune from the increase in fuel prices due to fluctuation in global prices