Turkey's central bank on Thursday cut its policy interest rate for a second meeting in a row as the country's double-digit inflation continues to ease

In an executive order, the White House reiterated its position that there are "large and persistent annual US goods trade deficits" and they constitute an unusual and extraordinary threat to the economy of the United States.

Russian President Vladimir Putin said Friday that Russia and Ukraine's demands for peace were "absolutely contradictory", after two rounds of peace talks have failed to bring the sides closer to an elusive ceasefire.

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.

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.

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...

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...

"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...

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...

Despite ceasefire negotiations, Gaza’s humanitarian situation remains critical, with markets facing inflation, displaced residents lacking proper shelter, and aid workers warning that food and medical assistance should remain separate from political talks.

The Federal Reserve kept interest rates at the current target range of 4.25 percent to 4.50 percent after its January meeting, according to reports.  The pause comes after the central bank cut rates three consecutive times to the end of 2024.

Geneva, Switzerland – The global economy is set to face significant challenges in 2025, with 56 percent of chief economists surveyed expecting conditions to weaken, according to the latest Chief Economists Outlook from the World Economic Forum. Only 17 percent foresee an improvement, pointing to heightened uncertainty in key regions and...

The bank's monetary policy committee decided to reduce the policy rate from 50 percent to 47.5 percent, with a statement citing improvement in "inflation expectations and pricing behavior". The last cut was in February 2023.

Paris, France -- Donald Trump's return to the White House with his protectionist policies poses threats for the global economy, with the prospect of new trade wars, resurgent inflation and slower growth, experts say Global trade threatened? During his first term in office from 2017 to 2021, Trump often resorted to...

There was a 2.3% year-on-year increase in the first half of 2024 and WTO economists anticipate the volume will increase by 2.7% in 2024 and 3 percent in 2025. Asia’s exports will grow faster than those of any other region this year, rising by as much as 7.4 percent. It...

In 2024 and 2025, inflation is expected to gradually abate, allowing real incomes to grow again in advanced economies, boosting consumption of manufactured goods. “A recovery of demand for tradable goods in 2024 is already evident. This is related to an increase in household consumption linked to improved income prospects.,"...

Asia-Pacific markets traded higher on Thursday, following gains on Wall Street that saw the S&P 500 and Dow Jones Industrial Average reach new records as investors shrugged off geopolitical concerns, according to a media report.

The European Central Bank on Thursday is set to slash rates again by 25 basis points just days ahead of the U.S. Federal Reserve beginning its own rate-cutting cycle, CNBC reports. Traders are widely anticipating an interest rate cut at the Federal Reserve’s Sept. 17-18 meeting, as well as at...

Since US Federal Reserve Chairman Jerome Powell stated last month that the time for interest rates to begin coming down and the pace would depend on economic data, investors have been keenly awaiting the latest jobs numbers. Dismal July job figures caused markets to panic last month.

Asian shares crept cautiously higher on Monday, while the dollar and bond yields were on the wane ahead of inflation data that investors hope will pave the way for rate cuts in the U.S. and Europe, Reuters reported Oil prices climbed 0.8% after Israel and Hezabollah traded rocket salvos and...

Asia-Pacific markets were mixed on Monday after a week that saw a broad rally in stocks, as investors awaited a slew of central bank releases and inflation data this week, CNBC reported. The Bank of Korea will release its rate decision on Thursday, while inflation data from Japan and Singapore...

U.S. crude oil prices rose over 4% on Monday, surpassing $80 per barrel, as the Pentagon deployed additional forces to the Middle East in response to heightened tensions. Defense Secretary Lloyd Austin ordered a carrier strike group, including F-35 warplanes, and a guided-missile submarine to the region. Israel has been...

The International Monetary Fund expects the world economy to grow 3.2 percent this year, unchanged from its April forecast, according to its World Economic Outlook update. "Global activity and world trade firmed up at the turn of the year, with trade spurred by strong exports from Asia," said the fund....

Federal Reserve official Neel Kashkari has reiterated the Fed’s wait-and-see approach about possible rate cuts.  In a recent interview on CNBC, Kashkari, who serves as the ​​president of the Federal Reserve Bank of Minneapolis, said the Fed has an ace up its sleeve—a strong job market—as it holds off on making any rushed decisions about...

The bank's CEO warns about risk of persistent inflation.

The losses tracked a sell-off on Wall Street and saw the dollar strike a 34-year high against the yen, fueling speculation Japanese authorities will step in to support their beleaguered currency. Figures showing the consumer price index rose 0.4 percent on-month and 3.5 percent on-year were both above consensus for...

Oil prices rose around one percent, with Brent crude closing in on $90 per barrel, as OPEC experts met to discuss extending supply cuts. "Geo-political risks linked to conflict in the Middle East, OPEC supply cuts and better data out of China are helping to drive bullish sentiment currently," said...

In power for the past decade, Sisi is set to remain president until 2030, after winning a December election with 89.6 percent of the vote against three relative unknowns. The six-year term is set to be the 69-year-old's last, unless he again ushers through a constitutional amendment prolonging his tenure.

Observers called it Erdogan's worst election defeat since his party took power in 2002. Many blamed inflations running at 67 percent and a crashing devaluation of the lira currency over the past year.

WASHINGTON, US – The US central bank's favored measure of inflation edged higher last month on the back of rising fuel prices, according to government data published on Friday, but another gauge stripping out volatile food and energy prices continued to ease. US Federal Reserve chair Jerome Powell told a conference...

New York, US- Wall Street stocks saw a mixed start to Thursday, as traders digested the latest economic data ahead of the Good Friday holiday. The Dow Jones Industrial Average advanced 0.2 percent to 39,829.51. The broad-based S&P 500 Index was flat at 5,247.74, while the tech-heavy Nasdaq Composite Index retreated...

Driven by its strategic location, cultural heritage, and government incentives, Türkiye's real estate market remains a focal point for regional investors amid economic fluctuations.

MOSCOW, RUSSIA – Russia's central bank held interest rates unchanged on Friday as Moscow's military offensive on Ukraine has led to stubbornly high inflation and labor shortages. The central bank raised rates to 16 percent in a series of hikes last year to cool the pace of price rises. Analysts are...

Equities across the world had surged Thursday in response to the central bank's closely watched dot plot projection that it would lower borrowing costs three times this year, even after figures showed prices ticking up in January and February. .

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...

"Financial stability benefits the whole economy and reduces the risk that the central bank becomes reluctant to raise interest rates for fear of causing a financial meltdown," she added.

The gains have been helped by a weaker dollar and the gold's attraction as a safe haven as geopolitical tensions rise. Because bullion does not generate any interest, it benefits when central banks lower borrowing costs as its safe-haven status makes it more attractive to investors.

Washington, United States - The White House unveiled almost $20 billion in new grants and loans Wednesday to support Intel's US chip-making facilities, marking the Biden administration's largest funding announcement yet as it tackles China's dominance of the crucial technology. President Joe Biden's decision to make the announcement during a trip...

Islamabad, Pakistan - Pakistan reached a tentative deal to unlock a $1.1 billion tranche of an International Monetary Fund (IMF) bailout deal, the global lender said Wednesday, giving much-needed respite to the South Asian nation. Last summer, cash-strapped Pakistan sketched a $3 billion deal with the IMF as it battled a...

Washington, United States - The US Federal Reserve began two days of discussions on Tuesday at which policymakers are expected to hold firm on interest rates, and continue discussions about when to start cutting them. The meeting got under way in Washington at 9am local time (1300 GMT) on Tuesday, the...

RIYADH, SAUDI ARABIA –   Saudi Arabia’s inflation accelerated to 1.8 percent in February compared to January 2024, according to data by the General Authority for Statistics (GASTAT).  The cost-of-living index for February rose to 110.64 points, according to the base year 2018, from 108.67 points in the same month a year earlier.  Inflation...

Its net profit fell five percent to 13.1 billion kroner ($1.24bn).

The annual consumer price index (CPI) came in at 3.2 percent last month, the Labor Department said, while the "core" measure stripping out volatile food and energy prices edged down slightly to 3.8 percent.

Lagos, Nigeria - The holy fasting month of Ramadan begins early next week in Nigeria, with the worst economic crisis in a generation leaving many in Africa's most populous Muslim country struggling to buy food. With food inflation at around 35 percent, worshipers taking part in Friday prayers at the central...

Its net profit shot up to US$1.82bn as demand booms.

The agreement, announced by Egyptian Prime Minister Mostafa Madbouly and the IMF's mission chief for Egypt, Ivanna Vladkova Hollar, came hours after the country's central bank hiked interest rates and said it was floating the pound. By the time the markets closed on Wednesday, the Egyptian pound was trading at a...

Hong Kong, China - Asian markets largely fell on Tuesday after China set an ambitious five percent annual growth target and Wall Street shares dropped ahead of the release of key US economic indicators. Tokyo finished flat, a day after Japan's benchmark Nikkei index hit a record high, closing above 40,000...

Proceedings kick off Monday at 3:00 pm with the opening ceremony of China's People's Political Consultative Conference (CPPCC), which will last until next Sunday. At a press conference, CPPCC spokesperson Liu Jieyi said that "economic topics are of great concern" to the body's over two thousand members.

The bank has raised its interest rates to tame inflation..

On a monthly basis, inflation rose 4.5 percent in February, slower than the 6.7 percent rise logged in January. Erdogan said Sunday that anti-inflation policies "will begin to be felt in practice towards the end of the year".