The bank’s net profit for Q4 2022 was up 23%.

Inflation rates and trends have started to improve in Turkey, supported by the comprehensive policies the country is pursuing, the bank pointed out in a statement.

Consumer inflation in the United States slipped in December to the lowest level in over a year, government data showed, signaling the worst of red-hot price increases may be over. Inflation has eased for a sixth consecutive month alongside the Federal Reserve's aggressive campaign, fueling hope for reprieve from steeply...

Stock markets mostly advanced as traders awaited key US jobs data and after news of falling inflation in the eurozone. Global equities have enjoyed a largely solid start to the new year, though Wall Street slid on expectations that the Federal Reserve is in no rush to stop hiking US...

After a healthy rally in recent weeks fuelled by signs that price rises were slowing, the US Federal Reserve, European Central Bank and Bank of England this week crushed any Christmas spirit by hiking borrowing costs again by sizeable amounts and warning of more pain.

Global stocks rose on China's slowing inflation and economic reopening, alongside hopes of less aggressive interest rate hikes next week. Sentiment brightened on China's decision to shift away from its nearly three-year zero-Covid strategy of lockdowns and mass testing that slammed the economy. After protests across the country, leaders have...

The external debt of developing economies has more than doubled from a decade ago to US$9 trillion in 2021, the World Bank said. The pandemic has forced many countries to take on more borrowing and World Bank President David Malpass earlier warned that the world is facing a fifth wave...

Global stocks rose as Federal Reserve boss Jerome Powell flagged a moderation in interest rate hikes, while China signaled a softer approach to fighting Covid. Asian and European equities tacked higher as investors eyed news that eurozone unemployment fell to a record 6.5 percent in October. Oil prices climbed before...

Global stock markets mostly moved higher as Americans headed to the polls in midterm polls. The dollar got back some of its recent losses versus the euro, while Chinese demand expectations were keeping oil prices in check. Europe's main markets were showing gains some two hours from the close save...

Jordan's Deputy Prime Minister and Minister of Foreign Affairs and Expatriates Ayman Safadi met with UAE Minister of Foreign Affairs and International Cooperation, Sheikh Abdullah bin Zayed Al Nahyan.

Doha--The Qatar Central Bank (QCB) has issued Treasury Bills and Sukuk for periods of one week, one month, three, six and nine months worth QR 6 billion ($1.6 billion), and the auction attracted a record amount of bids totaling QR 9.75 billion. In a statement, QCB stated that the treasury...

UAE Minister of State for Financial Affairs Mohamed Hadi Al Hussaini met with Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF) Dr. Jihad Azour.

Volatile markets were mostly trading up after the ECB announced an expected hike to interest rates in the face of sky-high inflation and the US economy posted positive figures. The European Central Bank rolled out another increase of 75 basis points, despite growing concern the eurozone is hurtling towards a...

Retail sales declined in its main markets Europe and the US.

The diversification of revenue streams boosted the bank's profitability.

Most markets rose on hopes the Federal Reserve would soon slow its pace of interest rate hikes, though the mood was darkened over China after President Xi Jinping tightened his grip on power. The yen weakened against the dollar after a short rally after speculation Japanese authorities had stepped into...

Bank to pay fine on money laundering, tax fraud charges.

The British pound sank against the dollar on political uncertainty after the resignation of UK Prime Minister Liz Truss, while weak economic data added to the turmoil. The dollar strengthened also on expectations that the US Federal Reserve would press ahead with its program of bumper interest rate hikes to...

Stock markets and oil prices slumped as investors grow fearful that more big interest rate hikes will tip economies into deep recessions. The mood darkened also on the worsening Ukraine war and weaker demand expectations in China. Analysts said US consumer price index data released later this week will be...

Stocks mostly slid and the dollar surged after US jobs data showed only a timid slowdown in the labor market, setting the stage for further interest rate hikes. Equity markets have taken a battering as the US Federal Reserve has made it clear it intends to continue raising interest rates...

With US inflation soaring new heights, the country's central bank has said more increases are likely to come this year in order to cool the world's largest economy and rein in high prices. Federal Reserve Governor Lisa Cook said 'inflation remains stubbornly and unacceptably high.'

Asian and European stocks rallied and the dollar dipped as weak US data sparked hopes the Federal Reserve could ease its interest-rate hiking plans. Frankfurt and Paris equities soared over three percent in value after similar stellar gains in Tokyo, while London won two percent. Central banks across the world...

Falling for the fourth straight session, Wall Street stocks finished lower on Friday as markets bet on the rising risk of a recession due to interest rate hikes. All three major indices tanked more than 1.5 percent, adding to the week's losses after Wednesday's big Fed rate increase spurred similar...

Stock markets tumbled, the pound crashed against the dollar and oil prices slumped on growing recession fears after central banks this week hiked interest rates to fight inflation. Monetary policymakers have been forced to go on the offensive, warning that short-term hits to economies are less painful than the long-term...

Taking a cue from Federal Reserve, GCC central banks have raised interest rates, tracking a hike in the US Fed's benchmark rate. The US central bank announced its third consecutive interest rate increase of 0.75 percentage point, continuing the forceful action to tamp down inflation that has surged to the...

European and US stocks rose Tuesday, but gains were capped by economic slowdown fears and central bank efforts to contain surging inflation. Frankfurt, London and Paris equities carved out gains despite poor German data, a day after tumultuous trading as Russia curbed gas supplies to Europe.

Banks in the UAE held a 22.4 percent market share of the assets in the Arab banking sector, followed by Saudi banks with a 21.7 percent market share.

Stock slumped on Friday after Federal Reserve boss Jerome Powell pledged to act "forcefully" against soaring inflation in a battle that will be painful for Americans. The Fed has been on a campaign to raise interest rates and Powell said at Jackson Hole that the fight against inflation is not...

Cast metal sales rose 11% compared to H1 2021.

US Fed officials believe it will take some time to bring "unacceptably high" inflation back down near the two percent goal. And in this regard central bankers remain committed to raising interest rates further to quell rising prices, but agreed it would be appropriate to slow the pace of the...

Profit fell 42 percent compared to H1 2021.

Group EBITDA for the period was QR4.5 billion.

A US central bank official still sees hope for the US and EU to avoid recession and achieve a soft landing by bringing inflation down to an acceptable level.

Stocks rose Monday following a rally on Wall Street in response to data indicating US consumers remained resilient to surging inflation and higher interest rates, easing concerns about a possible recession. Market analysts widely expect the central bank to announce a 75 basis-point lift.

Stocks soared Friday after retail sales data showed that US consumers continue to spend more in the latest signal of the economy's resilience despite high inflation and rising interest rates. Wall Street pushed higher on a better-than-expected 1.0 percent rise in retail sales in June.

The value of home loans granted by the GCC govts to their residents range between $150,000 and $330,000 and are repaid through simplified methods and in short payments.

Shares rose more than three percent in Hong Kong on Monday morning, in line with a rally across Asian markets, with weak economic data easing concerns over central bank interest rate hikes. The gains came on the back of a rally in tech giants including Alibaba and JD.com.

Global stock markets and oil prices jumped higher on Friday following recent heavy losses as the weakening economic outlook moderates expectations about central bank monetary tightening.

Oil prices fell Wednesday on worries over weakening demand in the slowing global economy as Federal Reserve Chief Jerome Powell acknowledged interest rate hikes could lead to a recession. US stocks had a choppy session, pushing into positive territory for a time after Powell reiterated the need to counter soaring...

Equities struggled Wednesday after a brief respite from last week's painful rout across world markets, with recession fears continuing to build as central banks hike interest rates to combat inflation. Fears about a global contraction have also put downward pressure on oil prices.

Equities rose in most cities Tuesday in Asia as some stability returned to markets after last week's upheaval, but analysts warned of further pain for traders after central bank officials hinted at more interest rate hikes to reel in inflation. In commodities markets, oil extended gains as traders moved back...

Asian markets fell again Monday and oil prices extended losses on growing fears that central bank moves to rein in soaring inflation will induce a recession. And while the S&P 500 and Nasdaq saw gains on Friday, there is a sense that indexes still have some way down to go...

Taking a cue from US Federal Reserve's decision to hike interest rate, Saudi Arabia, the UAE, and Bahrain have raised interest rates, too, to tame soaring inflation.

The Ooredoo subsidiary said it will pay $9.3 million on June 22.

The UAE has decided to fund interest on home loans obtained by its nationals from banks "to ensure economic well-being and social welfare for UAE nationals. According to the new policy, housing loans shall be financed through collaboration between the Sheikh Zayed Housing Program (SZHP) and national banks.

In order to tame soaring prices in the country, the Central Bank of Egypt has raised its overnight interest rates by 200 basis points.

China on Friday announced it would cut a key interest rate as the country fights to boost its virus-hit economy and Covid-19 restrictions rip across major cities. Prolonged virus lockdowns have constricted supply chains, quelled demand and stalled manufacturing.

World stock markets mostly sank Monday on stubborn fears over the impact of rising US interest rates, surging inflation and China's Covid lockdowns. Stock markets had dived last week after the Federal Reserve ramped up interest rates by a half-percentage point and flagged more hikes to tackle decades-high inflation.

Asian and European stocks tanked Friday, accelerating a global selloff on fears over the impact of interest rate hikes that seek to tackle sky-high inflation. The pound hit a two-year low at $1.2276, one day after the Bank of England (BoE) lifted UK borrowing costs to a 13-year peak and...

ECB interest rates could be back in positive territory by year's end, the head of the French central bank said Friday, as soaring inflation puts pressure on policymakers. Record inflation in the eurozone has increased calls for the ECB to draw a line under its stimulus and follow other central...