Economy
10-year Dubai cultural visa application among services on offer as new agreement announced
. An agreement announced on Sunday will help establish new businesses in select creative economy sectors and support their long-term...
Saudi Arabia records $20 billion surplus as oil prices rise
. Saudi Arabia said Thursday it had achieved a rare budget surplus of over $20 billion in the second quarter...
Bank of England raises rates by half-point to tame inflation
. The Bank of England raised interest rates by half a percentage point Thursday, marking its biggest interest rate increase...
Turkish inflation hits almost 80%, peak might be near
. Turkish inflation rose to a fresh 24-year high of 79.6 per cent in July, data showed on Wednesday as...
Bangladesh seeking $2 billion from World Bank, ADB
. Bangladesh is seeking $2 billion from the World Bank and the Asian Development Bank (ADB) amid efforts to bolster...
Sri Lanka seeks remittances jump start from electric cars
. Sri Lanka offered its overseas workers the right to buy electric vehicles duty-free on Tuesday to encourage them to...
Inflation begins to strain finances of young, low-income Americans
. As high inflation forces Americans to spend more on gas and bills, young and low-income consumers are starting to...
Factories squeezed by higher prices, weak demand
. Factories across the United States, Europe and Asia struggled for momentum in July as flagging global demand and China’s...
Saudi GDP climbs nearly 12% in second quarter on oil gains
. Saudi Arabia’s year-on-year economic growth hit nearly 12 percent for the second quarter, led by a surging oil sector,...
Pakistani rupee may stage a strong rebound in August
. The Pak rupee is expected to stage a strong rebound in August after posting second worst monthly performance since...
US economy contracts in second quarter, deepening recession fears
. The US economy contracted for a second straight quarter between April and June, government data showed Thursday, fuelling recession...
UAE trademarks law a key pillar to ensure safe IP environment
. The UAE has been taking significant efforts in promoting the system of intellectual property (IP) and copyrights, with trademarks...
US on the brink of recession as GDP contracts again in second quarter
. The US economy unexpectedly contracted in the second quarter, with consumer spending growing at its slowest pace in two...
US Federal Reserve hikes rate by 75 basis points to cool inflation
. The US Federal Reserve on Wednesday again raised the benchmark interest rate by three-quarters of a percentage point and...
Fed poised to attack inflation with another interest rate hike
. The Federal Reserve opened on Wednesday the second day of its policy meeting where it is set to announce...
IMF slashes global growth forecast due to ‘gloomy, uncertain outlook’
. The International Monetary Fund on Tuesday trimmed its global growth forecast to 3.2 per cent, down from its April’s...
7 risks behind IMF global growth outlook of economic doom
. A perfect storm of doom has been pummelling the global economy in recent months, undermining global growth expectations, but...
UAE economy grew 8.2% in first quarter, central bank estimates
. The United Arab Emirates’ economy grew by an estimated 8.2% in the first quarter, buoyed by higher oil production,...
Hot inflation fuels bets on Fed delivering super-sized interest-rate hike
. Investors sharply boosted bets on Wednesday the US Federal Reserve could deliver an even bigger interest-rate hike at its...
Davos 2022: cocoa exporter Ivory Coast plans to become global chocolate supplier, says PM
Exclusive: Patrick Achi says to meet economic and development goals, the country must move into added value products like chocolateIvory...
