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...

The US Federal Reserve announced the most aggressive interest rate increase in nearly 30 years on Wednesday, and said it is prepared to do so again next month in an all-out battle to drive down surging inflation. It was the first 75-basis-point increase since November 1994.

President Joe Biden on Friday slammed ExxonMobil for not producing more oil, as soaring gas prices deplete Americans' wallets and the US leader's popularity ahead of midterm elections.

India said it has capped sugar exports to safeguard its own supplies and ease inflation, days after a ban on wheat shipments sent global prices soaring in the wake of the Ukraine war.

Russia's invasion of Ukraine has put financial markets under renewed stress by driving up prices and impeding growth, the European Central Bank said in a report. The war has "increased financial stability risks through its impact on virtually all aspects of economic activity", ECB vice-president Luis de Guindos said in...

Low rainfall or droughts in major producing countries were already causing worries before Russia's invasion of Ukraine in February sent markets soaring. There are only a dozen countries that produce a lot and can export it, particularly Russia, Ukraine, the US and Australia.

Japan's economy shrank slightly in the first quarter of 2022, official data showed Wednesday, hit by Covid-19 restrictions and higher prices. Growth was also hit by the rising cost of imports with energy prices surging and the yen falling to its lowest level against the dollar in 20 years.

Wheat prices surged to a new record high on Monday after India decided to ban exports of the commodity as a heatwave hit production. The price jumped to 435 euros ($453) per tonne as the European market opened. Global wheat prices have soared on supply fears since Russia's February invasion...

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.

Inflation spawns numerous hurdles as GCC business leaders struggle to find a way to surmount the difficulties aggravated by geopolitical events.

The Bank of England on Thursday raised its main interest rate by a quarter point to one percent to tackle runaway UK inflation that is causing a cost-of-living crisis. It was the fourth straight rate rise by the BoE, which added that British annual inflation would top 10 percent this...

The spending through the month of April has been widespread, including a broader increase in sales volume and a diversification of family-oriented retail options that enhance the prosperity of the local market.

The expected growth rate for 2022 reflects the rise in the growth of the Arab oil-exporting economies to 5.6 percent due to the anticipated increases in the output of the oil and gas sectors.

The war in Ukraine has "multiplied risks" for the Middle East and North Africa's poorer countries by raising food and energy prices, the World Bank said, warning of potential social unrest. In its latest update the development lender said inflationary pressures set off by Covid-19 "are likely to be exacerbated"...

Spurred by yet another round of increase in oil prices, shares on Saudi stock exchanges opened higher on Sunday with the main index, TASI, gaining 0.52 percent in the opening trade while the parallel market, Nomu, trading flat at 24,902.

Indian government officials on Friday defended the continued buying of Russian oil, saying European countries were still purchasing hydrocarbons from Moscow and that high crude prices left New Delhi with little choice.

The International Energy Agency cut its world oil demand forecast for 2022 on Wednesday, warning that sanctions against Russia over its invasion of Ukraine could spark a global supply "shock". "Faced with what could turn into the biggest supply crisis in decades, global energy markets are at a crossroads," the...

Nudged by high oil prices, Saudi stocks inched up as the main index, TASI, gained 0.24 percent to touch 12,882, while the parallel market fell 0.22 percent to 24,487.

Moody’s has depicted a bleak outlook for sukuks in the current year because of a spike in oil prices and lower financing needs in the GCC.

Europe and UK gas prices hit record highs Friday and crude oil rallied, as Ukraine's invasion by key producer Russia continued to stoke supply fears. Europe reference Dutch TTF gas price struck 213.895 euros per megawatt hour in afternoon deals and UK gas hit 508.80 pence per therm. "There is...

The wave of inflation continues to put pressure on consumers not just in the United States, Europe, and the Arab world, but also in the Gulf region. Economies in the Middle East are exposed to the global price fluctuations because of heavy import dependence. Localized factors like rental deflation and...

The squeeze on real incomes within the region due to higher inflation may depress regional trade flows. The situation may worsen further if the global central banks' attempts to control rising consumer prices, which will ultimately dampen global economic activity.

Saudi stocks posted gains in the early hours of trading on Sunday due to a dip in the prices of crude oil. Stocks world over posted losses last week as Russia invaded Ukraine, taking over many areas of the western neighbor.

The jump in oil prices is compounding worries about inflation around the world, with the US Federal Reserve coming under intense pressure to tighten monetary policy to prevent prices from running out of control.

When temperatures plunged well below freezing in Ankara and energy prices soared, Dondu Isler had to make a tough choice to both stay warm and keep her soaring utility bills down. She turned off the heating in two bedrooms of her apartment. "Only the living room and the kitchen were...

UAE's Consumer Price Index (CPI) at the end of 2021 reached 108.62, compared to 105.97 in December 2020, which puts the inflation rate at 2.5 percent year-on-year and at 0.02 percent in December 2021 compared to November. A report from the Federal Competitiveness and Statistics Centre said the rate of...

The 23 members of the OPEC+ oil cartel, who meet on Wednesday, are expected to stick to their guns and increase output modestly as the price of crude surges. As in January, analysts expect the taps to be opened slightly, to the tune of an additional 400,000 barrels per day,...

Global demand for oil is expected to remain "robust" in 2022 and overcome short-term disruption caused by the Omicron coronavirus variant, the Organization of Petroleum Exporting Countries said on Tuesday. But the Saudi-led group of top oil producers warned future virus strains and pandemic-related travel restrictions could threaten the global...

Persistent double-digit inflation and the weakness of the Turkish currency has eroded the purchasing power of Turkish consumers, leading to a cost of living crisis and pressure on the government to act. The iPhone 12, one of Apple's bestsellers, cost 10,999 liras on Thursday evening.

Growing costs and a drop in purchasing power are seen as deterioration of the standard of living Kuwaitis have been accustomed to for years.

The powerful producers led by Saudi Arabia and Russia in the so-called OPEC+ grouping are expected to re-affirm a decision in July to modestly step up production after slashing it steeply last year as the pandemic hit global markets.

The end to subsidies pushes the cost of filling a vehicle's tank to more than the monthly minimum wage in the poverty-stricken nation. Subsidies were gradually phased out over the past few months to shore up diminishing foreign currency reserves.

Most stock markets in the Gulf rose on Thursday as oil prices gained on growing fuel demand and a bigger-than-expected draw in U.S. crude inventories, although the Abu Dhabi index bucked the trend to trade lower.

Lebanon has gradually increased fuel prices in recent months because the cash-strapped central bank can no longer afford to fund fuel imports.

Oman has suffered a sharp decline in its total actual revenues, falling a staggering twenty percent to $22.1 billion in 2020.

As the fuel crisis worsens in Lebanon, the country's leadership appears to be at odds over how to end the crisis that has kept the whole country on the edge for most of the summer.

Dubai’s Palm Jumeirah has seen its sales and prices touch newer levels during the last few years, spurred by strong demand.

Higher oil prices and a recovery in demand, easing of COVID-19 curbs, vaccination campaigns, stimulus measures, and accelerating activity in key markets also aided in the rise.

Thanks to a boost it received from higher oil prices, Fitch has revised its outlook for Saudi Arabia from negative to stable, and also reaffirmed the kingdom’s sovereign ratings.

Jen Psaki says there is enough production capacity globally US crude production peaked in Jan 2020 at nearly 13m bpd The White House is worried about the impact of rising oil prices on US consumers but believes producers have ample ability to pump enough crude. “Currently we believe that there...

Trade flows continued to reach new highs during the ongoing pandemic At the global level, food and agricultural exports grew by almost $52 billion in 2020 While global food trade is expected to be strong for the year ahead, the food prices though are feared to remain high over supply...