In a country gripped by the most severe financial crisis in its recent history-- inflation has hovered near 40% after the currency lost half its value-- the economy is the crux of Egyptians' concerns. Even before the crisis, about two-thirds of the country's nearly 106m people were living on or...

Hong Kong, China - Gold prices soared to a record high above $2,100 on Monday as traders grow increasingly confident the Federal Reserve will cut interest rates in the new year. The precious metal struck $2,135.39 in early Asian trade, topping the previous all-time high set in 2020, during the pandemic....

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.

Washington, United States - A key inflation measure used by the US Federal Reserve to set interest rates eased further last month amid declining energy and goods prices, according to government data published Thursday. The annual personal consumption expenditures (PCE) price index rose 3.0 percent in October, down 0.4 percentage points...

World stock markets have made robust gains in recent weeks on hopes that the US central bank had finished with hiking rates and could cut borrowing costs next year as inflation cools. While Wall Street's main indices spent some time in the red, they moved higher as the yields on US...

Stock markets were mostly in wait-and-see mode as investors eyed the release this week of key US inflation data that could guide Federal Reserve plans for interest rates. Oil prices slid nearly two percent before cutting their losses as dealers awaited a delayed meeting of OPEC and its allies to...

Pausing of rate hikes by global central banks amid fluctuating inflation rates influences global markets, with specific impacts in the MENA region, says a new report.

Riyadh, Saudi Arabia -- Saudi Arabia's consumer price index experienced a slight decrease in October, dropping to 1.6 percent from 1.7 percent in September, according to the latest official data. The General Authority for Statistics (GASTAT) reported that this decrease in inflation was primarily due to a 0.8 percent reduction...

Dubai, UAE--Egypt's annual core inflation rate decelerated by 1.6 percent in October, recording 38.1 percent, down from 39.7 percent in September, according to data released by the Central Bank of Egypt (CBE) on Sunday. The monthly core inflation rate rose to 1.8 percent in October compared to 1.1 percent in...

Sotheby's and Christie's will be moving a host of big-ticket lots, though they may still have a hard time topping last year, when total sales hit a record $16 billion.

Hong Kong, China - Markets rallied again Monday following another strong performance on Wall Street, as below-forecast US jobs data fanned optimism that the Federal Reserve had reached the end of its interest rate hiking cycle. After a tough year for traders, the bank's decision last week to pause on monetary...

Washington, United States -- Central bank reserve management remained resilient during a historically volatile year, according to the fourth edition of the World Bank Reserve Management Survey Report. Central banks identified ESG, volatility and risk, and inflation as their main challenges in 2022, the report said. Central banks are becoming...

The UAE's central bank has kept its Base Rate for the Overnight Deposit Facility (ODF) unchanged at 5.40 percent. It is closely tied to the US Federal Reserve's Interest on Reserve Balances (IORB), reflecting the general stance of the CBUAE's monetary policy. Qatar Central Bank too has maintained its current...

The company plans a $13.9bn investment in a battery plant.

The US tightening sanctions on Iranian oil could have a negative impact on individual and institutional investment portfolios by disrupting the energy sector, contributing to inflationary pressures, and intensifying geopolitical risks. You need to be aware of the risks – but also the opportunities, he adds.

The Federal Reserve will likely announce it is holding interest rates at a 22-year high on Wednesday, as it looks to tackle inflation without damaging the resilient US economy. Analysts and traders parsing recent Fed speeches overwhelmingly expect the US central bank to hold rates steady for the second meeting...

Recent developments spark concerns that the conflict, which is spreading across the region, presents a long-term threat to global energy and commercial infrastructure.

Stora Enso registered a loss of $272m euros in Q2 2023.

London, United Kingdom - European and US stock markets fell Thursday as investors worried over rising US Treasury yields and the Israel-Hamas crisis potentially growing into a wider conflict in the Middle East. Wall Street opened higher after falling the previous day, but slid into loss during morning trading, while Europe's...

Despite global economic challenges, the region showcased resilience in the first half of 2023, backed by a robust performance in the construction sector.

Riyadh, Saudi Arabia -- Saudi Arabia's Consumer Price Index (CPI) increased by 1.7 percent in September 2023, compared to September 2022, down from 2 percent in August 2023. This stability is due to the early economic measures taken by the Kingdom to counter the global rise in inflation rates, the...

The bank’s revenues rose 22 percent to US$39.9 billion.

Marrakesh, Morocco-- The war between Israel and Hamas has cast a shadow over the IMF-World Bank annual meetings in Morocco, with warnings on Thursday that it has darkened the outlook for an already sluggish global economy. The global lenders are holding their gathering, which brings together finance ministers and central bankers...

Tourism and entertainment sectors are likely to help Saudi Arabia's non-oil GDP grow robustly in the coming years, despite a 6.5% drop in oil production, says a report.

The IMF kept its 2023 global growth forecast unchanged but warned that the economy is "limping along" as inflation remains high and the outlooks for China and Germany were downgraded. The IMF's updated World Economic Outlook still sees growth of 3.0 percent for this year but it cut its forecast...

Geneva, Switzerland - Global trade growth will be sharply lower than forecast this year as stubborn inflation, high interest rates and the war in Ukraine pressure economies around the globe, the World Trade Organization said on Thursday. Strains in China's vast property market also prompted the WTO to cut its trade...

The focus has been on US Treasury bond yields that have surged to levels not seen in over a decade, suggesting doubts about prospects for growth and corporate earnings. The yield on the benchmark 10-year Treasury bond has reached the highest level since 2007 -- the beginning of two years...

"While economic challenges are rife across the country, rising inflation and the deterioration of public services are making life unbearable," said a statement signed by 35 Yemeni groups and 13 international aid organizations including the Danish Refugee Council and Save the Children.

The data suggest that Turkey's inflation rate is starting to peak after Erdogan signed off on a series of sharp interest rate hikes that have taken the policy rate to 30 percent from 8.5 percent in four months. "The small (by Turkey's recent standards) rise in inflation to 61.5 percent...

Washington, United States - US manufacturing activity contracted in September by the least since late 2022, beating analyst expectations despite weakness in new orders, survey data showed Monday. The Institute for Supply Management's (ISM) manufacturing index came in better than anticipated at 49 percent last month, up from 47.6 percent in...

Influenced by global inflation concerns and high rates, Gulf markets faced second consecutive monthly dip in September. Only Dubai and Qatari markets resisted the trend.

Influenced by global inflation concerns and high rates, Gulf markets faced second consecutive monthly dip in September. Only Dubai and Qatari markets resisted the trend.

The government has capped property rent increases at 25 percent for households, and aligned them with the official inflation rate for businesses. But experts say the measures have only heightened tensions, prompting many landlords to use any means -- including illegal ones -- to evict tenants and find new ones...

French President Emmanuel Macron's special envoy urged Lebanese factions to find a "third way" for electing a new president, warning that France and its allies were losing patience after a year of deadlock. "The life of the Lebanese state itself is at risk," Jean-Yves Le Drian, a former foreign minister,...

President Abdel Fattah al-Sisi, a former army chief, has ruled for nearly a decade in the Arab world's most populous country, which is now mired in a deep economic crisis. Experts had predicted Sisi would move forward the 2024 election, ahead of a possible switch to a flexible exchange rate...

Scholz's government had promised to build 400,000 homes a year to alleviate an endemic housing shortage made worse by burgeoning demand from an inflow of refugees and foreign workers. But building permits have nose-dived 25 percent between January and June compared to a year ago.

Global stocks sank after the US Federal Reserve hinted it could hike interest rates again this year to tame inflation and other central banks warned they were not done either. London stocks bucked that trend, however, after the Bank of England held interest rates steady after 14 hikes.

The mercurial Turkish leader performed one of his trademark policy reversals after winning a difficult re-election in May. The vote came during Turkey's worst economic crisis in decades -- one that analysts universally blamed on Erdogan's unorthodox conviction that high interest rates contribute to inflation.

Brent North Sea crude oil traded above $95 per barrel Tuesday for the first time since November last year, supported by tight supplies and robust demand. "When central banks are starting to see the light at the end of the inflation tunnel, $100-plus oil will be incredibly unwelcome and unhelpful,"...

Muscat, Oman--Annual inflation of Oman has shot up 0.82 percent in August as against 2.4 percent in the same month of last year, according to the country’s National Center for Statistics and Information.  But compared with the previous month, Oman’s inflation rate sunk to its lowest level in 28 months...

The Fed has raised interest rates 11 times over the last 18 months, lifting its key lending rate to a level not seen for 22 years as it tackles inflation still stubbornly above its long-term target of two percent. Goldman Sachs cut their forecast for a recession in the US...

Washington, United States - Consumer inflation in the United States picked up in August for a second straight month, according to government data released Wednesday, putting the heat on policymakers as they work to lower prices. The consumer price index (CPI), a key inflation gauge, jumped 3.7 percent from a year...

Annual inflation in Egypt hit 39.7 percent in August, official figures showed, an all-time high for the country as it grapples with a punishing economic crisis. It comes after an unrelenting economic crisis that has seen the currency shed half its value against the US dollar since early last year.

The comments from three regional Fed presidents with a vote on setting interest rates will likely solidify expectations that the US central bank intends to hold rates steady later this month amid growing signs of weaker labor market conditions. The Fed has raised its benchmark lending rate 11 times over...

Riyadh, Saudi Arabia-- Saudi Arabia's economy is in a state of prosperity and growth, and that the kingdom's fiscal position is strong, primarily driven by Vision 2030 which has been steadily diversifying the economy since its launch in 2016, according to the International Monetary Fund.   The IMF said in a statement...

campaign pledges and a massive reconstruction effort launched after a major earthquake claimed more than 50,000 lives in Turkey's southeast. Official data showed transportation prices rising by 70.2 percent and those of restaurants and hotels by 89.3 percent.

"This quarter, we focused on enhancing our market infrastructure and introduced several initiatives, including changes to the debt market; negotiated deals; introduction of drop copy; cancel on disconnect orders; request for quotes; and normal trade removal for the main market," he adds.

Brussels, Belgium - The annual rate of inflation in the eurozone remained unchanged in August as there was a smaller drop in energy prices, the EU's official statistics agency said Thursday. Consumer prices reached 5.3 percent in August, although there was also a slowdown in the rise of food and drinks...

Washington, United States - Economic growth in the United States was weaker than first estimated for the April to June period, the Commerce Department said Wednesday, noting downward revisions in business investment. GDP growth in the world's biggest economy came in at 2.1 percent for the second quarter, down from the...

GCC countries consistently maintain inflation rates below the global average, with the Food and Beverages CPI subcategory showing moderate growth across the region.