The US Federal Reserve is prepared to raise interest rates higher - and hold them there - to bring down above-target inflation, chairman Jerome Powell said. "We are prepared to raise rates …. until we are confident that inflation is moving sustainably down toward our objective," he told the Jackson...

A rally in Nvidia helped propel gains in global markets earlier this week, though traders could not keep up the buying owing to ongoing rate worries.

Beirut, Lebanon - Hundreds of demonstrators took to the streets again on Monday in Syria's southern city of Sweida, local media and an activist reported, as dire living conditions stoke discontent in regime-held areas. Days of rare protests have erupted in the south after the government lifted fuel subsidies last week,...

European stocks rebounded but Asian markets ended mixed after a Chinese rate cut failed to reassure investors. At midday, Paris stocks were up by more than one percent, with both Frankfurt and London also pushing higher. Market sentiment has taken a hammering this month by a string of weak data...

The measures, which run counter to rising interest rates around the world as other major economies work to curb inflation, will indirectly support economic activity as China's growth flags. The long-awaited post-Covid recovery following the lifting of health restrictions at the end of 2022 has run out of steam in...

Expectations of another Fed hike have pushed 10-year Treasury yields -- a gauge of future rates -- close to their highest levels since the global financial crisis. Data on Thursday did little to dissuade investors, with unemployment benefit applications falling the most since last month, indicating the labour market remains...

Central banks are prioritizing fiscal and monetary policy coordination to boost macroeconomic stability, cut inflationary pressures, and support long-term growth.

Abu Dhabi, UAE – Real estate markets of UAE capital Abu Dhabi and Dubai demonstrated resilience in the face of rising interest rates and inflation in the second quarter, with Dubai realty market outperforming many if its peers worldwide, a report said. The report by Asteco, a full-service Real Estate...

In Asian stock market trading, Hong Kong extended the week's losses Friday, even as e-commerce titan Alibaba surged on a forecast-busting rise in revenue.

Muscat, Oman--Oman annual inflation rate reached 0.69 percent by the end of June 2023, according to the monthly consumer price survey data issued by the Oman's National Center for Statistics and Information. The inflation rate was driven by the increase in most of the main groups that make up the...

A US central bank official said that more interest rate hikes "will likely be needed" to bring inflation down further, shortly after policymakers lifted rates to the highest level since 2001. Federal Reserve governor Michelle Bowman said she supported the policy-setting Federal Open Market Committee's decision for a rate hike...

Cairo, Egypt – In a surprising move, the Central Bank of Egypt (CBE) announced on Thursday that it has raised interest rates by 100 basis points to contain the rising inflationary pressures. The lending rate was increased to 20.25 percent, and the deposit rate to 19.25 percent, while the credit...

The new figure comes as Turkey radically shifts its policies since the May election that includes an end to more than a two-year era of ultra-low interest rates. Last week, the central bank revised its year-end inflation forecast to 58 percent from 22.3 percent after years of doubts from independent...

Revenue jumped $12.3 billion to $36.9 billion.

The automaker's profit surged 78 percent to US$9.1 billion.

Washington, US - A Federal Reserve official left open the possibility on Monday of pausing or stopping interest rate hikes at the central bank's next policy meeting in September, saying "there's nothing off the table." "Thus far we're on the golden path and we've got to walk that line," Chicago Fed...

Muscat, Oman-- Oman's inflation rate increased by 2.8 percent in 2022 as the consumers price index (CPI) registered 109.7 points compared to 106.7 points in 2021. According to the data issued by the National Centre for Statistics and Information (NCSI), there was a rise in the prices of main groups...

Doha, Qatar--Qatar National Bank (QNB) Group foresees a recession in the US economy during the upcoming 12 months, pointing out that the US economy continues to demonstrate its resilience despite significant headwinds from high inflation, tighter financial conditions, and an uncertain global environment. In its weekly commentary, QNB added that...

Analysts are divided ahead of the Fed's next decision in September, with the so-called "hawks" predicting additional rate hikes in the face of strong economic data, and "doves" expecting an end to the current hiking cycle given recent inflation data.

The decision by the central banks, in the US and most of the Middle East, to hike interest rates are designed to fight off inflationary pressures and maintain economic stability.

The Fed last month halted its aggressive campaign of monetary tightening after 10 consecutive rate increases to give policymakers more time to assess the health of the world's largest economy. At the June meeting, members of the rate-setting Federal Open Market Committee (FOMC) nevertheless indicated they see possibly two additional...

Revenues were recorded at $44.7 billion, up 25 percent.

The IMF said the global inflation picture has improved somewhat, with consumer prices now forecast to increase by 6.8 percent this year, down 0.2 percentage points from the previous forecast in April.

After a pause in June, the Fed is widely expected to push ahead with what would be its 11th interest rate hike since it started a campaign of monetary tightening in response to soaring inflation in March of last year. But despite an aggressive cycle of hikes, inflation remains above...

The painful PMI data comes as the European Central Bank is eyeing a further rate hike this week in its quest to tame inflation.

The Fed paused its aggressive campaign of monetary tightening last month to give policymakers more time to assess the health of the US economy, and the impact of recent banking stresses on lending conditions. In the weeks since, positive upgrades to economic growth and cooler inflation data have reinforced the...

Firm in profit despite high inflation, rising interest rates.

As inflation averages 171% in 2022, one of the highest rates worldwide, people prefer to fix old items such as shoes than buy new ones.

RIYADH, SAUDI ARABIA – Prices for housing, water, electricity, gas and other fuels in the Kingdom rose by 9.1 percent overall in June compared with the same month last year, government data showed on Sunday. Restaurant and hotel prices went up by 4.3 percent and education up by 3 percent,...

During periods of economic stability, government focus typically gravitates towards infrastructure development. Investments in sectors like construction, transportation, energy, utilities, and telecomms infrastructure, are likely to see a boost. The financial sector is also expected to be positively impacted, he adds.

London, United Kingdom - World stock markets mostly rose Wednesday as investors jockeyed for position before key US inflation data. London equities climbed after the Bank of England announced that all major UK retail lenders passed stress tests to assess their resilience to economic shocks. Frankfurt and Paris also advanced before...

Revenue from operations was US$7.2 billion.

The Egyptian pound has lost half its value against the dollar since early last year, shooting prices upward and adding to the burden of families struggling to make ends meet in the import-dependent country. The latest figures, a rise of almost 37 percent from June last year, also showed a...

The Kingdom's non-oil private sector expanded sharply in June as output and new orders rose at accelerated, multi-year record rates, indicating strong growth rate.

Its net profit dropped 21% to US$1.21bn in 2022-2023.

London, United Kingdom - Stock markets retreated Wednesday on poorly-received Chinese data, as investors looked ahead to the reopening of Wall Street after the Independence Day holiday. "There are fresh concerns about the global economy powering down as data from China's service sector underlines how tepid the post-pandemic recovery has become,...

According to the TUIK state statics agency, the rate slowed from 39.6% in May. But a separate study released by independent economists from the ENAG group who question the official data put the June figure at 108.6 percent, up from 105.2% in May. The official rate has been steadily dropping...

Egypt's economy is grappling with a myriad of challenges, including rising inflation, currency depreciation and high debt. TRENDS delves into the depths of the crisis.

Egypt's economy is grappling with a myriad of challenges, including rising inflation, currency depreciation and high debt. TRENDS delves into the depths of the crisis.

In April, several OPEC+ members opted to slash production voluntarily by more than one million bpd -- a surprise move that briefly raised prices but failed to bring about lasting price recovery.

Dr Gharaibeh attributes Sudan's monetary stability to the localized conflict in Khartoum and increased reliance on local investment, compensating for the decline in foreign investment. He further emphasizes that the capital flight from Sudan has been minimal, due to the conflict being concentrated in Khartoum.

"Now is the time to face the three uncomfortable truths ... Inflation remains sticky; financial stresses could make price and financial stability a difficult balancing act; and more upside inflation risks will likely come our way," she adds, emphasizing the crucial role that the return to price stability plays in...

Pakistan's negotiations with the IMF for the last tranche of a $6.5 billion bailout package agreed in 2019 stalled in November, with the government making last-minute changes to the national budget to meet the deal's requirements. That package expires on Friday, and the new agreement builds on the IMF's efforts...

The GCC gaming industry, bolstered by Saudi Arabia's $38 billion investment, is poised for significant growth that may make it a global leader by 2030, says an expert.

The Fed recently paused its aggressive cycle of rate increases after 10 consecutive hikes, to give policymakers more time to weigh the effects of existing moves on inflation. At the same meeting, a majority of members on the Fed's rate-setting committee indicated they see interest rates rising twice more before...

The central bank has hiked rates at the fastest pace ever over the past year in a bid to cool inflation after Russia's war in Ukraine sent energy and food prices surging.

Responding to reports of a possible renationalization, a government statement said Thames Water's present situation was "a matter for the company and its shareholders".

Wall Street popped higher Tuesday after a string of readings soothed concerns about a possible recession, while traders were also cheered by Chinese growth pledges. However, reports that Washington could block the export of artificial intelligence chips to China weighed on sentiment.

Despite a global economic slowdown in 2022, high-net-worth individual wealth in the region experienced growth on the back of strong earnings in the oil and gas sectors.

A senior US Federal Reserve official said that additional interest rate hikes are needed to tackle historically high inflation. "I believe that additional policy rate increases will be necessary to bring inflation down to our target over time," Fed governor Michelle Bowman told a conference in Cleveland, Ohio, according to...