Browsing: Economy

The IMF lowered its 2024 growth forecast for low-income countries as a group to 4.7% from an estimate of 4.9% in January

The share of the euro currency in global cross-border settlements via the SWIFT messaging system last month declined to an all-time low, transaction data compiled by the global financial service showed on Thursday.

Global prices for crude oil jumped by as much as 3.5% shortly after Israel carried out a series of strikes on Iran in the early hours of Friday.

International ratings agency S&P Global downgraded Israel’s long-term credit rating on Thursday, citing the risk of a military escalation with Iran.

The price of Bitcoin, the world’s highest-valued cryptocurrency, surged past $64,000 on Friday, rebounding from a drop below the $60,000 mark. The crypto continues to experience volatility ahead of an upcoming ‘halving’ event, which has sparked controversy over its potential impact.

Seizing the reserves could undermine the global financial system, according to the International Monetary Fund

RIYADH: More than 1,200 investors from across the world will descend on Riyadh at the end of April for what is expected to be the biggest Future Hospitality Summit ever seen in Saudi Arabia.

RIYADH: Countries in the Gulf Cooperation Council region should develop supply chain resilience strategies as they embark on large-scale industrialization of their economies, a report said. 

UK inflation slowed less than expected last month, underscoring the reluctance of some Bank of England officials to begin cutting interest rates.

A move away from conducting financial transactions through Western payment systems, including SWIFT, is vital for Russia and its trading partners, the head of the country’s second-largest lender has said.