Browsing: Business

– Gulf Cooperation Council Secretary-General Jasem Mohamed Albudaiwi emphasized the need for increased collaboration with Europe to defend international supply chains from maritime disruptions and escalating transportation expenses. On September 24, during his address in New York, Albudaiwi highlighted how

– On Thursday, Egypt’s central banking authority decided to keep its key interest rates steady, continuing the policy stance established since February. The Central Bank of Egypt announced that the overnight deposit rate remains at 19.00%, with the overnight lending

– Developing economies across Asia and the Pacific are expected to see their growth rate slow to 5.0% in 2026, down from 5.5% in 2025. The Asian Development Bank has increased its 2026 growth forecast by 0.1 percentage point compared

– In the first seven months of 2026, the amount of money sent home by Egyptians working overseas totaled approximately $29.7 billion. According to the Central Bank of Egypt, this represents a 28.1% rise from about $23.2 billion during January

– China held its benchmark lending rates steady in September, with the one-year loan prime rate remaining at 3.0%. The over-five-year LPR was also unchanged at 3.5%, based on the official September 20 fixing. Many banks reference this longer-term rate

In an effort to shield domestic consumers and logistics operators from ongoing global energy price fluctuations, the government of South Korea has announced a two-month extension of its temporary fuel tax reduction initiative, now set to last until the end

India cautioned Washington that proposed tariffs on nations buying Russian crude oil could strain bilateral ties and impact the global commodity market. The warning followed the passing of the Sanctioning Russia and Iran Act of 2026 by the United States

As global commodity markets absorbed a quarter-point increase in interest rates by the U.S. Federal Reserve, bullion markets experienced renewed downward pressure across international trading floors. Spot gold dropped 1 percent to $4,249 per ounce, reaching multi-session lows amid rising

– During the 18th BRICS Summit, the Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan held discussions with Indian Prime Minister Narendra Modi in New Delhi on September 12. The leaders explored ways to deepen the

– Oman’s yearly inflation rate increased to 3.4% in August 2026, driven by rising prices in transportation, food, and various service sectors. This figure compares to 3.2% in July and indicates a continued upward trend in annual consumer price inflation.