Saudi Arabia’s annual inflation rate rose to 1.7% in November from 1.6% the previous month, government data showed on Thursday, with rising housing rents the main driver once again. Rents increased by 9.4% in November as prices for apartments rose by 12.8%. The higher rents drove an increase in the pricing of housing, water, gas, […]
Oil advanced from a five-month low on positive demand signals including a drop in US inventories and signs the Federal Reserve is preparing to cut interest rates. West Texas Intermediate rose toward $70 a barrel, after climbing 1.3% on Wednesday from its lowest since late June. Global benchmark Brent was near $75. US crude stockpiles […]
Germany’s economy will contract by 0.5% in 2024 because of uncertainty caused by a budget crisis, the German economic institute IW said on Wednesday. A constitutional court ruling last month upset the government’s financing plans, leading to weeks of negotiations over how the 2024 budget should look and causing much uncertainty, said researchers at the […]
India’s stock market value has overtaken Hong Kong’s to become the seventh largest in the world as optimism about the country’s economic prospects grows. As of the end of November, the total market capitalization of the National Stock Exchange of India was $3.989 trillion versus Hong Kong’s $3.984 trillion, according to data from the World […]
Bill Gates, the seventh richest person in the world, has a well-documented affinity for dividend income. This investment preference is clearly reflected in the staggering $464.5 million he earns annually from his portfolio. Gates’s investment strategy, rooted in picking companies with strong dividend yields, showcases his commitment to steady, long-term income streams. The Bill & […]
The United Nations said Monday that it needed $46.4 billion next year to bring life-saving help to around 180 million people in desperate circumstances around the world. The UN said the global humanitarian outlook for 2024 was “bleak”, with conflicts, climate emergencies and collapsing economies “wreaking havoc” on the most vulnerable. While global attention focuses […]
Sustainable finance may once have been a “niche subject”, it is now a key component that will shape the UAE’s economy, the Minister of Economy said today. Speaking just days before the opening of climate summit COP28 in Dubai, Abdullah bin Touq Al Marri said, told the Abu Dhabi Economic Forum, that sustainable finance, once […]
The estimated total economic impact of the Saudi Arabia’s mega event – Riyadh Expo 2030 – measured by gross value added is projected to be a whopping SAR355 billion ($94.5 billion). This represents a 19% addition to the estimated non-oil GDP for 2023, with an annualized impact of 0.75% over the next 25 years, according […]
Indian equities scaled record highs on Friday after the central bank stayed pat on rates, while investors parsed Hungarian economic data that signalled easing domestic inflation ahead of a key U.S. jobs report. India’s NSE Nifty 50 index .NSEI climbed 0.1% after the Reserve Bank of India left key rates at 6.5% and raised the […]
Saudi Arabia has delayed some of the projects launched as part of its economic transformation plan past 2030, Bloomberg reported, citing a top government official. This is the first time that the Kingdom has acknowledged a shift in the timeline for meeting the goals of Vision 2030, the report said. The government, which is forecasting […]