Economy
Oil prices steadied on Wednesday as investors eyed concerns around crude and fuel supplies, following Ukrainian attacks on Russian refineries and the potential for a widening of the Israel-Hamas war to more directly include Iran. Brent crude futures for June rose 4 cents to $88.98 per barrel at 8:
Economy
The IMF will tie payments to Egypt under an $8 billion financial program to Cairo’s letting market conditions determine the price of its currency and its making foreign exchange available to businesses and private individuals, the IMF said on Monday. Egypt, which signed the loan agreement on March 6,
Economy
Shares of Donald Trump’s social media company rose about 16 percent in the first day of trading on the Nasdaq, boosting the value of Trump’s large stake in the company as well as the smaller holdings of fans who purchased shares as a show of support for the
Economy
Calls for completely abandoning oil and fully relying on renewable energy have been deemed “wrong” and “unrealistic” by Haitham Al-Ghais, the secretary-general of the Organization of the Petroleum Exporting Countries. “If oil disappeared, this would also affect the production of renewable energy, such as manufacturing of wind turbines and solar
Economy
Somalia has secured an agreement with international creditors to cancel more than $2 billion (1.8 billion euros) in debt, the Paris Club of creditor nations said. The deal announced Wednesday came after the International Monetary Fund and the World Bank in December approved $4.5 billion in debt relief
Economy
Somalia has secured an agreement with international creditors to cancel more than $2 billion (1.8 billion euros) in debt, the Paris Club of creditor nations said. The deal announced Wednesday came after the International Monetary Fund and the World Bank in December approved $4.5 billion in debt relief
Economy
Egypt’s currency was stable at around 49.5 pounds to the dollar as the market opened on Thursday, a day after the central bank let the currency plunge and pledged to shift to a more flexible exchange rate system as the country secured an expanded $8 billion program with
Economy
Ukraine needs about $3 billion in foreign financial aid on a monthly basis to get through 2024, Finance Minister Serhiy Marchenko said on Wednesday, highlighting the challenges Kyiv faces as US support begins to falter. Marchenko said Ukraine’s macroeconomic stability during the war with Russia had been possible due
Economy
Before the Sudanese army and paramilitary fighters turned their guns on each other last year, Ahmed used to sell one of Sudan’s main exports: gum arabic, a vital ingredient for global industry. Now he’s out of business, and his story encapsulates the broader economic collapse of Sudan during
Economy
Once forecast to become the world’s biggest economy, Japan slipped below Germany last year to fourth place, official data showed Thursday, although India is projected to leapfrog both later this decade. Despite growing 1.9 percent, Japan’s nominal 2023 gross domestic product in dollar terms was $4.2
Economy
Brexit is leaving a hole of almost £100bn in annual UK exports, making Britain’s economy worse off than if it had remained in the European Union, new analysis has claimed. Businesses that make an array of products including sporting goods, children’s toys, jewellery and medical equipment have struggled
Economy
The European Commission urges Kosovo to give more time to Serb minorities using the dinar before phasing out the currency completely from the country's monetary system. The European Commission has added its voice to calls for Kosovo to allow more time before phasing out the dinar, the currency
Economy
The Hong Kong Stock Exchange's benchmark Hang Seng index is having a rocky start to the new year, trading around the same level it was at when the British handed the city to Beijing 27 years ago and losing its place as the fourth-largest capital market in Asia
Economy
Global unemployment is expected to rise this year, with growing inequality and stagnant productivity also a cause for concern on the economic horizon, the UN labour agency ILO said on Wednesday.
Economy
The global economy is on track for a woeful decade of growth unless policymakers can boost investment and strengthen government balance sheets, the World Bank warned today.
News
Israel's cabinet is set to approve a 2024 wartime budget on Thursday, Finance Minister Bezalel Smotrich said on Sunday, after ministers approved 9 billion shekels ($2.5 billion) in financial support for military reservists.