Turkey's longest-serving leader surmounted a powerful opposition coalition, an economic crisis and anger following a devastating February earthquake to beat secular challenger Kemal Kilicdaroglu in Sunday's vote. But his four-point victory margin was Erdogan's narrowest of any past election, highlighting the country's sharp polarisation that the Islamic-rooted conservative will contend...

Dividends across the world spiked 12% in Q1 compared to the same period in 2022, which was already an all-time high, according to the report by asset management firm Janus Henderson. "The dividend growth is all the more impressive considering that 2022 was a difficult year because of high inflation...

There are three reasons why the Fed should not increase interest rates further: First, the US financial system is still fragile. Second, the effects of rate hikes take a long time to filter through the economy, and third, the bond market is suggesting a possible recession, adds Green.

"It appears that the central bank is willing to sacrifice parts of the economy and tighten its grip on households and businesses to combat inflation. However, this strategy risks doing more harm than good. It is crucial now that they refrain from further rate hikes to salvage their own credibility,"...

The regional apex banks -- including the CBUAE, SAMA, CBB, and QCB -- have raised rates by 25bps in response to the US Fed's decision to increase its benchmark lending rate.

Germany, the EU's biggest economy, saw growth stagnate at zero percent over the previous quarter. Year-on-year, Germany was the only country in the single-currency zone to record a contraction, of 0.1 percent.

Wall Street stocks pushed higher despite data that showed US economic growth is slowing, which raised fresh questions about interest rates hikes. The dollar rose against the euro and yen after the data showed US gross domestic product rose at an annual rate of 1.1 percent in the January to...

The bank's profit was boosted by rising interest rates.

US consumer confidence fell more than many predicted in April, fueled by a deterioration in expectations among Americans over 55 and households with annual incomes over $50,000, according to survey data released. The pessimistic results may ease some of the pressure on the Federal Reserve as it prepares to consider...

The US should continue tightening monetary policy to bring down inflation while assessing the impact of last month's financial turmoil on bank lending, a top Federal Reserve official said. "How much further will depend on incoming data on inflation, the real economy and the tightening credit conditions," Federal Reserve governor...

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 global economic slowdown and swelling interest rates are pummeling debt-ridden developing countries, the UN warned, urging bold global action to ward off catastrophe. In a fresh report, the United Nations Conference on Trade and Development cautioned that poorer countries were expected to suffer as higher interest rates eat away...

Federal data shows that some depositors at small banks did head for the exits, moving some $120 billion in a single week into larger banks sometimes viewed as too big to fail. But minnows like Leader Bank of Massachusetts and Heritage Bank of Minnesota also have a solution to the...

The region's banking sector thrives in Q4-2022 with NIMs at multi-year highs and strong lending growth despite global banking crisis, highlights a report.

Cairo, Egypt - The Central Bank of Egypt (CBE) raised key interest rates by 200 bps for the first time in 2023 on Thursday as it struggles to control soaring inflation. “In its meeting today, the Monetary Policy Committee (MPC) decided to raise the Central Bank of Egypt’s (CBE) overnight...

Dubai, UAE -- Gold prices climbed on Wednesday after the US Fed toned down its aggressive approach to reining in inflation. Spot gold was up 1.7 percent at $1,973.52 per ounce by 3:56 p.m. EDT (1956 GMT), after advancing as much as 2 percent. US gold futures settled 0.4 percent...

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.

The OECD raised its global economic growth forecast as inflation eases and China emerges from Covid restrictions, but warned of vulnerabilities as seen in the US bank sector turmoil. The Organization for Economic Co-operation and Development said it now expects the global economy to grow by 2.6 percent this year.

The Chinese government’s desire to avoid making the same mistakes other governments and central banks have made has driven inflation to a four-decade high. Development consumers are now suffering the consequences as central banks increasingly apply their interest rate weapon to bring inflation under control, he adds.

Significant technology development is going on in the climate space in the UAE, distinguished Professor Laura D'Andrea Tyson tells TRENDS in an interview.

The move sends sent global banking shares sputtering, as markets fretted over possible contagion from America's biggest banking failure since the 2008 financial crisis.

Last week, Lagarde said that more interest rate hikes might be needed in the eurozone after the half percentage point hike it has already signaled will come later this month.

The GCC countries are likely to benefit from the relative stability in their financial covers due to high oil prices and strong energy exports in 2022, reports suggest.

The bank's profit got a boost due to higher interest rates.

Bank said it would pay out US$5.6 billion to shareholders.

Most analysts expect a 50-basis point hike in March but, with inflation starting to ease, there are already signs of a debate among policymakers about when to slow the pace. ECB board member Fabio Panetta, known for his dovish stance, said the bank should not commit to any particular hike...

Stock markets rose as US data showed the country grew at a slower pace in 2022 but finished the year on a stronger note. Shares in Paris, Frankfurt and London were higher in mid-afternoon trading. US gross domestic product rose at an annual rate of 2.9 percent in the fourth...

Major stock markets mostly dropped as warnings that US interest rates would continue to rise and remain elevated offset growing optimism over China's economic reopening after Covid lockdowns. Equities enjoyed a strong start to the new year thanks largely to Beijing's decision to throw off the shackles of its strict...

Turkish media say the total number of debt recovery cases rose by about 1.5 million in a year and exceeded 24 million at the height of the crisis in August. Turkey's most recent economic problems started when President Recep Tayyip Erdogan - a lifelong foe of high interest rates -...

Many markets in the Middle East and Africa show a larger gap between affluent and non-affluent households in 2019 vs 2022 discretionary spending.

Turkey's latest economic crisis started when Erdogan -- a lifelong opponent of high interest rates -- pressured the central bank to bring down chronically high consumer prices by lowering borrowing costs.

The Saudi Central Bank, known as Sama, the Central Bank of Bahrain and Qatar Central Bank upped their interest rates by 50 basis points.

Stocks have risen over the last month, in part on expectations that the Fed would soon pivot on monetary policy. Powell's appearance had been viewed as a potential risk to equities if he had adopted a more hawkish tone. Major indices had been near flat prior to the Powell event,...

It is logical for the FRB to halt the wave of escalation of interest rates on the dollar, which was projected to witness a final round next December at a rate of 0.25 percent, due to the approaching winter season and the intensification of the cold wave in western Europea,...

Many Gulf states, including the region's two biggest economies, raised key interest rates earlier this month after the US Fed hiked its key policy rate.

The scale of the loss can be gauged from the fact it is slightly more than the annual economic output of Morocco ($132 billion).

The CBE attributed its decision to elevated global and domestic prices that are expected to keep headline inflation.

"The current transition plan isn't working. We are still dependent on coal. We need to have a new consensus on the transition to renewable,” Amin Nasser added.

The decision comes right after President Recep Tayyip Erdogan said the central bank would keep cutting rates every month for "as long as I am in power".

The bank's revenues declined 12 percent to $12 billion.

Major global equities rose, with sentiment soothed after upbeat US earnings and Britain shredded its controversial budget. Analysts pointed to better-than-expected reports from Goldman Sachs and Johnson & Johnson as a positive driver for stocks. On Wall Street, the Dow Jones jumped two percent after a day of strong trading...

Earnings of many Gulf banks may hit nearly pre-pandemic levels by the year end, owing to high oil prices and rising interest rates that will support their creditworthiness.

Continuing with its slide against the dollar, the pound hit a record low on fears about the UK economy after the government presented a huge tax-cutting budget. Countries around the world are battling high inflation and seeking to curb it with interest rate hikes. But analysts fear such moves can...

The Central Bank of Egypt also decided to increase the required reserve ratio to 18 percent from 14 percent

China's growth forecast for 2022 was reduced to 3.3 percent from 5.0 percent, as Beijing pursues a zero-Covid strategy that has devastated the world's second-largest economy. Chinese officials are under pressure to curb even the smallest virus outbreaks swiftly, ahead of a key political meeting in October where President Xi...

Some of the fear in markets is unjustified, at least for now. Many of the economic factors that propelled deal-making last year, namely interest rates, haven’t actually changed yet either. VCs, corporates, and others are still flush with cash, and they need to put their money to work, he adds.

A two-month rally from June lows appears to have run out of steam this week, with downward pressure coming after minutes from the Fed's most recent meeting showed it was determined to keep lifting borrowing costs until prices were brought under control.

Investors remain on edge as central banks hike interest rates to fight runaway inflation, but the monetary policy tightening could threaten to tip economies into recession.

While Saudi apex bank has raised its repurchase rate by 75 bps to 3%, and its reverse repo rate by a similar margin to 2.50% to restore price stability and fight inflation. The central banks in the UAE, Qatar and Bahrain also raised their rates to 2.4%, 3% and 3.25%,...

Inflation is an opportunity for a company to review strategically the portfolio of plans it offers, says L'azurde CEO.