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".

London, United Kingdom - Major stock markets traded mixed Thursday before the release of US inflation data that could present a clearer idea on when the Federal Reserve will start cutting interest rates as inflation cools. Traders reacted also to yet more earnings, with the Paris CAC 40 reaching a fresh...

Istanbul, Turkey--The commodity markets saw supply concerns and rises by optimism from China, despite the negative impact of the Fed's announcements, sanctions, and ongoing geopolitical risks. Uncertainties as to when the Fed will start cutting interest rates persist, and the minutes of last week's Federal Open Market Committee (FOMC) meeting...

Barcelona, Spain - Smartphone makers are packing their latest devices with flashy new artificial intelligence tools such as real-time voice translation and advanced photo editing in efforts to reignite consumer demand. The trend was on display at the telecom industry's biggest annual show, the four-day Mobile World Congress (MWC) which got...

Barcelona, Spain - The world's biggest mobile phone fair throws open its doors in Barcelona Monday with the sector looking to artificial intelligence to try and reverse declining sales. Phone makers are expected to focus on the unique AI-powered tools of their latest handsets at the four-day Mobile World Congress in...

High interest rates benefitted the British lender and banking sector as a whole.

During his meeting with OPEC Secretary General Haitham Al Ghais, Albudaiwi praises the significant efforts of OPEC and its crucial role in maintaining the stability and balance of oil markets and addressing future challenges, in coordination with member states of the bloc.

Dubai, UAE -- Construction costs are set to increase in the UAE by 2-3 percent, and in Saudi Arabia by 5-7 percent in 2024, following an increase of 3 percent and 7 percent respectively in 2023. Increases will challenge construction firms, which will need to develop new processes and capabilities to...

China last year recorded one of its worst annual growth rates since 1990, dampening hopes for a rapid economic recovery following the end of draconian Covid restrictions in late 2022. In January, consumer prices fell at their quickest rate in more than 14 years, piling pressure on the government to...

This is the bank's biggest net profit in 15 years.

Chief Executive James Quincey described consumers in North America as "holding up well," although he acknowledged "a little softening" through 2023 in the United States due to persistently higher prices that have pressured low-income shoppers. Coca-Cola projected 2024 revenue growth of six to seven percent when foreign exchange and the...

London, United Kingdom - Europe's main stock markets steadied Friday as traders reacted to more earnings updates from top companies, while awaiting revisions to US inflation data. Asia saw holiday-thinned trade, with investors there struggling to build on another record-setting day on Wall Street. "Today sees things slow down after a...

Group revenue dipped 0.8 percent to 59.6 billion euros.

The parliament ratified by a huge majority of 92 votes out of 133 an amendment to an article that prohibited the central bank from financing the public treasury. The new measure allows the central bank to lend the state US$2.2 billion to be repaid without interest in 10 years after...

The OECD raised its 2024 world economic growth forecast Monday but warned that the Middle East conflict posed a risk, with disruptions in Red Sea shipping threatening to increase consumer prices. Global growth "proved unexpectedly resilient" in 2023, reaching 3.1 percent as inflation declined faster than anticipated..

McDonald's cited war in the Middle East as a drag.

Istanbul, Turkey - Turkey's annual inflation rate stayed stable in January at nearly 65 percent, but month-on-month consumer price increases jumped sharply following a huge minimum wage hike, official data showed Monday. The year-on-year inflation rate moved to 64.86 percent -- up a notch from 64.77 percent in December, the TUIK...

Erkan resigned just a week after completing a historic series of interest rate hikes that have pushed the baseline rate from 8.5 percent to 45 percent. The bank said last week that it intends to keep rates high for the immediate future to make sure inflation is brought under control.

Abu Dhabi, UAE--In a significant move that underscores the interconnectedness of global monetary policies, central banks across the Gulf Cooperation Council (GCC) have announced decisions to hold their interest rates steady, mirroring the recent actions of the US Federal Reserve. This collective stance reflects a cautious approach to navigating the...

Geopolitical tensions, including the Russia-Ukraine conflict, Middle East unrest, and China-Taiwan ties are key economic disruptors, says Bill Browder of Hermitage Capital.

"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.

Oslo, Norway - Norway's sovereign wealth fund, the world's biggest, said Tuesday it raked in a record profit of 2.2 trillion kroner ($213 billion) last year, driven by tech stocks and a weak national currency. The fund's total value reached close to 15.8 trillion kroner last year. The 16.1 percent return...

Washington, United States -- The US Federal Reserve is widely expected to start cutting interest rates in the coming months, as inflation edges closer to its long-run target of two percent. What is less clear, however, is when the first of those cuts will come. While the US central bank is...

The US Federal Reserve's favored measure of inflation ticked higher last month, according to government data published. The latest announcement will likely ensure the US central bank keeps interest rates on hold at its next decision announcement on Wednesday, as policymakers continue talks on when to start cuts.

The central bank is tipped to leave rates unchanged for a third consecutive meeting, keeping the benchmark deposit rate at a record four percent. The bank's governing council is expected to repeat that it considers rates are currently at levels that "will make a substantial contribution" to returning inflation to...

Egypt begins 2024 with steep increases in essential services' prices, exacerbating the economic strain on its citizens amidst a broader economic crisis.