Fed Chair Jerome Powell told reporters the central bank would make better decisions if it waited a few months to understand how tariffs impact inflation, spending and hiring, in a sign that the next rate adjustment could take some time to materialize.

Hong Kong, China - Asian stocks fell Thursday after the Federal Reserve warned Donald Trump's trade war would likely reignite US inflation and dampen economic growth, while oil prices edged down as investors awaited developments in the Israel-Iran conflict. While geopolitical tensions are the key focus for markets, traders were...

Washington, United States - The US central bank is expected to hold interest rates steady Wednesday after its key policy meeting, as officials gauge the impact of tariffs on inflation -- and despite President Donald Trump's calls for rate cuts. The Federal Reserve has kept the benchmark lending rate unchanged...

Washington, United States -- The US Federal Reserve is widely expected to announce a quarter point cut to its key lending rate on Wednesday despite a recent uptick in inflation, in the central bank's last meeting of Joe Biden's presidency.The Fed is also tipped to signal a slower path of cuts...

MOSCOW, RUSSIA – Russia's central bank held interest rates unchanged on Friday as Moscow's military offensive on Ukraine has led to stubbornly high inflation and labor shortages.The central bank raised rates to 16 percent in a series of hikes last year to cool the pace of price rises.Analysts are waiting for...

Maritime container transport has sunk by almost one third so far in 2024 compared with a year earlier, according to IMF data. The Iran-backed Houthis argue the attacks are in solidarity with Palestinians in Gaza during the Israel-Hamas conflict.

The British bank's net profit jumped to US$5.5bn in 2023.

Dubai, UAE-- The UAE's economy has recorded the best growth rates in comparison to other economies in the region, according to Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF).He affirmed the UAE's robust economic performance in recent years, highlighting its exceptional...

DUBAI, UAE - The total M&A market dropped 15 percent, to US$3.2 trillion, the lowest level in a decade, as dealmakers grappling with high interest rates, regulatory scrutiny and mixed macroeconomic signals had to be more selective about which deals to pursue in 2023.But the biggest obstacle was the gap...

It made record profit on the back of higher interest rates.

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...

The Federal Reserve will likely announce it is holding interest rates at a 22-year high on Wednesday, as it looks to tackle inflation without damaging the resilient US economy. Analysts and traders parsing recent Fed speeches overwhelmingly expect the US central bank to hold rates steady for the second meeting...

Brent North Sea crude oil traded above $95 per barrel Tuesday for the first time since November last year, supported by tight supplies and robust demand. "When central banks are starting to see the light at the end of the inflation tunnel, $100-plus oil will be incredibly unwelcome and unhelpful,"...

According to the credit rating agency, a combination of higher interest rates and production cuts by the OPEC is expected to restrain near-term growth prospects for major GCC economies. However, non-oil growth is anticipated to bolster the region's economies, particularly in Saudi Arabia and the UAE.

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...

European stocks rebounded but Asian markets ended mixed after a Chinese rate cut failed to reassure investors. At midday, Paris stocks were up by more than one percent, with both Frankfurt and London also pushing higher. Market sentiment has taken a hammering this month by a string of weak data...

Firm in profit despite high inflation, rising interest rates.

NEW YORK, US – In the last three years, poverty rates in low-and lower-middle-income countries have surged, with the number of additional individuals living on less than $3.65-a-day reaching 165 million by 2023, said a United Nations Development Program (UNDP) in a new policy brief.According to the policy brief ‘The...

BRUSSELS, BELGIUM -  Eurozone economic activity worsened in June to a five-month low, hit hard by a fall in industrial production, a keenly watched survey showed on Friday.The eurozone entered a technical recession at the start of the year, according to official figures published earlier this month.But inflation remains well above...

Doha, Qatar-- Qatar expects a big boost in hotel occupancy rates by at least 80 percent during the Eid holidays in the country.The boost is expected in the wake of the launch of the Haya platform in its new look, which allows 4 types of visas for visitors, and the...

Stock markets traded mixed as last week's optimism gave way to worries that central banks may wait longer than expected to end their policy of raising interest rates. After the Paris CAC 40 reached a fresh record-high at 7,552 points, profit-taking set in and the French index was flat in...

BRUSSELS, BELGIUM  - The EU trade in goods registered a large deficit of US$469 billion (€432 billion) in 2022, reaching its lowest level since the start of the time series in 2002.The deficit was due, in particular, to a steep rise in the value of energy imports, which started towards...

Wall Street rose but European stock markets fell as investors brace for US jobs data that they fear could prompt the Federal Reserve to ramp up interest rate hikes. Markets were rocked this week by Fed chief Jerome Powell's warning that interest rates could rise should the economy show no...

US and European stocks dipped as dealers fretted that the Federal Reserve would push interest rates higher than expected and for longer as it battles high inflation. The euro moved up against the dollar as strong inflation data in France and Spain sparked concerns that the European Central Bank will...

Stock markets largely steadied and the dollar rose with traders forecasting US interest rates to keep climbing following last week's blockbuster American jobs report. Oil prices extended gains after Iraqi Kurdistan suspended crude exports through Turkey as a precaution after a deadly earthquake rocked its northern neighbor and Syria.

Around 27-39 companies in the Gulf region are expected to come out with IPOs in the first few months of this year with the Kingdom and UAE leading from the front, reports suggest.

Supply of diesel to Europe from the US and the emerging refinery hub in the Middle East may make up some of the missing barrels from Russia, but a shortfall seems likely, not least considering the prospect for a strong recovery in China leading to lower export quotas, he adds.

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...

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...

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...

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...

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...

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...

The Dubai Supreme Council of Energy had a virtual meeting in which it was revealed that Dubai had reduced carbon emissions by 21 percent in 2021.

Battered by the government’s zero-Covid policy and a slump in the property market, China’s central bank cut benchmark loan rates in order to boost economy. The one-year Loan Prime Rate was reduced from 3.7 percent to 3.65 percent, according to the People's Bank of China.

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

The European Central Bank "should" end its stimulus program at the beginning of the third quarter, its vice-president said in an interview published Thursday, opening the door to raising interest rates from historic lows.

The queues are a worrying sight for Turkey's veteran President Recep Tayyip Erdogan, who is trying to fight inflation by slashing interest rates, a policy that doesn't seem to be working.

Arab News quoted the research company on Monday that Occupancy stood at 42.8% The growth is due to easing of travel restrictions and return of international flights Owing to the easing of travel restrictions and return of international flights to the city, Riyadh’s hotel industry is showing signs of cheer...

Hike to compensate additional costs in freight, logistics The company plans more measures to address CO2 emission costs Birla Carbon, a supplier of carbon black, is set to increase the price for all its products made in Europe, Middle East and Africa (EMEA) region by euro 97/MT starting from June...

69 of the 82 countries tracked by CEIC data see the lending rates fall Saudi Arabia, UAE witness rise in rates by 0.8 and 0.3 bps Benchmark lending rates — the basic rates set by central banks in countries for banking institutions to follow — rose at a much slower...