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...

JOHANNESBURG, SOUTH AFRICA - Algerian Minister of Finance Laaziz Faid discussed with South African Finance Minister Enoch Godongwan, ways to enhance economic cooperation between the two countries. During the meeting on Thursday, the two ministers discussed the available opportunities to enhance trade exchange and joint investment, with the aim of...

Customs spokesman Lyu Daliang also pointed to outside forces having a "direct impact" on Chinese trade, with Beijing engaged in a long-running stand-off with the United States on a number of issues including trade and technology.

ABU DHABI, UAE - Aggregate capital and reserves of banks operating in the UAE rose by 10 percent year-on-year (YoY) to US$118.5 billion (AED435.3 billion) at the end of April 2023 from US$107 billion (AED395.9 billion) at the end of April 2022, according to the Central Bank of the UAE’s...

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...

Tehran, Iran--Qatar and Iran are looking to boost monetary and banking cooperation that would propel all-round development of trade between the two countries. In this connection, the governors of the central banks of the Islamic Republic of Iran and Qatar held talks in Doha. Iranian central bank governor Mohammad Reza...

Israel's government approved the 2023-2024 budget against the backdrop of economic uncertainty linked to controversial judicial reforms advanced by the government of Prime Minister Benjamin Netanyahu. The government had been expected to adopt the budget during a cabinet meeting Thursday, but talks ran late into the night and also took...

Abu Dhabi, UAE--The Central Bank of the United Arab Emirates (CBUAE) announced that gross banks’ assets, including bankers’ acceptances, increased by 0.7 percent, rising from $983 billion at the end of October 2022 to $988 billion at the end of November 2022. According to figures published in CBUAE's November summary...

Beijing, China--China's foreign exchange reserves rose to US$3.1277 trillion at the end of December 2022, up 0.33 percent from a month earlier, data from the State Administration of Foreign Exchange showed Saturday. The foreign exchange regulator attributed the increase in foreign exchange reserves to the combined impact of currency translation...

With the latest cut, the rate has reached "a sufficient level with regard to growing risks concerning global demand", the bank's council said in a written statement. Turkey's monetary policymakers are bucking the global trend of central banks raising interest rates to combat inflation, as high borrowing rates cool down...

The war raging in Ukraine and other overlapping crises are taking a toll on labor markets worldwide, the UN said, suggesting a "sharp" slowdown was already underway. In a fresh report, the International Labor Organization said the outlook for global labor markets has deteriorated in recent months. ILO warned that...

The Department of Health – Abu Dhabi (DoH) launched the first edition of the Healthcare Research and Innovation Grant, a monetary fund that fosters research and innovation efforts among healthcare professionals in the emirate.

The UAE recently participated in the fifth International Financial Architecture (IFA) Working Group meeting within the G20 Finance Track for 2022, which was held in a hybrid format.

The UAE highlighted the significance of complying with international work standards and developing partnerships that empower countries to overcome the future challenges of the labor markets across the globe.

Real estate transactions in the Emirate of Sharjah totaled US$544 million (AED 2 billion) in August 2022, according to the monthly report published by Sharjah Real Estate Registration Department (SRERD).

The growth in total bank deposits was due to the rise in resident deposits by 2.6% and non-resident deposits by 2.0%.

The Central Bank of the UAE (CBUAE) has announced the launch of a new corporate website with various interactive digital services in promoting financial stability and meeting the aspirations of the consumers.

Oil-exporting countries in the Arab World will benefit throughout 2022 from the increased oil production quantities within the "OPEC+" agreement and relatively higher oil and gas prices in international markets, according to the Arab Economic Outlook report by the Arab Monetary Fund.

The Central Bank of Iraq said Sunday that there is no reason for changing the exchange rate of the Iraqi dinar against the US dollar. The economic conditions will determine the appropriate decision that fits the time period

Oil prices bounced and Wall Street stocks declined Monday, reversing the most recent trends as markets eye the end of a bruising second quarter. After positive sessions for several leading European and Asian bourses, Wall Street stocks were in the red most of the day, and finished modestly lower.

British economic output declined for the second month in a row in April, weighed down by rocketing prices that are causing a cost-of-living crisis for millions of Britons.

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 Indian rupee plunged to an all-time low against the greenback on Monday, as US monetary policy tightening roiled sentiment and foreign investors continued to dump domestic stocks. The rupee fell past its previous record low of 76.98 against the US dollar in March to 77.56 on Monday.

Khasawneh said the World Bank had confirmed that Jordan’s economy is more immune to the Russian-Ukrainian crisis.

The pullback came as US Federal Reserve meeting minutes showed several officials at the central bank favoring a hike in interest rates by half a percentage point.

The impending end of super-loose monetary policy from the Federal Reserve will have both positive and negative effects on the economies of the Arabian Gulf.

Israel has placed restrictions on large cash transactions Digital money could demonstrate apparent autonomy from Israel The Palestinian Monetary Authority (PMA) might launch a digital currency to pave way for monetary independence from Israel. But, it raises questions over whether the measure would be practical at all. Two studies on...