Dubai, UAE-- Saudi Arabia's Finance Minister Mohammed Al-Jadaan said the Middle East needs a strong Saudi Arabia to contribute and that the future outlook looked positive despite recent shocks. The minister was speaking at Davos in a session titled "Saudi Arabia: Continuing Efforts towards a More Sustainable Economy". Al-Jadaan said...

Middle East tensions likely to spur a mild global recession, with oil potentially hitting $120-$150 per barrel, says a latest report by Oxford Economics.

Paris, France-- Achieving all national climate and energy goals will require adding or replacing 80 million kilometres of power lines by 2040 – an amount equal to the entire existing global grid – according to the International Energy Agency. Major changes to how grids operate and are regulated are also...

Marrakech, Morocco-- In spite of economic disruptions, policymakers in the GCC countries have successfully alleviated the economic ramifications of the challenges they have faced, according to Jassem Mohamed Albudaiwi, the Secretary-General of the Gulf Cooperation Council (GCC). He added that the GCC nations experienced substantial growth in their gross domestic...

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...

The Bank of England lifted its key interest rate to the highest level since the 2008 financial crisis, noting inflation remained stubbornly high but that the economy would now avoid recession this year. The BoE hiked the rate by a quarter-point to 4.5 percent with UK annual inflation stuck above...

US job gains eased in March for a second straight month, government data showed, adding to signs that the economy is cooling as policymakers push on in their fight against inflation. The country added 236,000 jobs in March, slightly less than expected, while the unemployment rate inched down to 3.5...

Thanks to falling gasoline prices, US inflation has slowed down in August, but not enough to satisfy policymakers, especially President Joe Biden, as high prices continue to inflict pain on American families and businesses. The annual inflation pace also is likely to have improved to 8.0 percent from the blistering...

The European Central Bank is set to announce the end date to its bond-buying stimulus on Thursday, as concerns over the accelerating pace of inflation in the eurozone grip policymakers. The stop is a prelude to the ECB hiking rates for the first time in over a decade in the...

However, Hamade believes that the markets in the Gulf region are better prepared to navigate the economic headwinds given the proactive stance they have witnessed across the sectors attracting foreign direct investments, relocation of businesses, and even market sentiment.

European Central Bank policymakers meet on Thursday faced with the challenge of threading a response between record-high inflation figures and weak growth due to the war in Ukraine.

The study calls for the stability of the business environment by reforming relevant laws.

Fed Governor Christopher Waller said the decision announced Wednesday gives policymakers the ability to respond quickly with an increase in the benchmark lending rate, which he expects "will be warranted shortly after our asset purchases end" in the spring. Asked to be more precise about the timing, Waller said, "We'd...

GMIS2021 will convene over 45 UAE policymakers and industry leaders, alongside over 250 international speakers, to engage in 70 sessions from November 22-27.

The ECB's 25-member governing council is widely expected to hold interest rates at historic lows and leave its massive bond-purchasing schemes unchanged at the upcoming meeting