Economy

Malaysia is preparing to join the BRICS group of emerging economies, Prime Minister Anwar Ibrahim said in an interview with Chinese media outlet Guancha, Reuters reported. The BRICS group of nations originally included Brazil, Russia,…
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Six presidential candidates on Monday discussed Iran’s economic problems in a four-hour live debate on state TV, ahead of the June 28 presidential election following a helicopter crash last month that killed President Ebrahim Raisi and…
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China’s May industrial output lagged below expectations with the property sector still weak, adding pressure on Beijing for policy support to shore up growth, but retail sales beat forecasts thanks to a holiday boost, according to Reuters.…
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Saudi Arabia’s economy witnessed growth of 1.4 percent in the first quarter of 2024 – higher than that seen across the G20 as a whole, according to new data. The Organisation for Economic Co-operation and Development has released its…
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Gulf Cooperation Council central banks have held interest rates steady for the seventh consecutive period, aligning with the US Federal Reserve’s benchmark rate of 5.25 to 5.50 percent. Since most regional currencies are pegged to the US…
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Global growth is expected to stabilize at 2.6 percent in 2024, holding steady for the first time in three years, according to a new World Bank report. The analysis warns that safeguarding trade, supporting green and digital transitions,…
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Saudi Arabia’s finance companies witnessed a 13 percent year-on-year surge in total assets to SR64.2 billion ($17.12 billion) in 2023, newly released data from the Kingdom’s central bank has revealed. The figures show that amid increased…
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Saudi-Dutch ties in the industrial and mining sector are set to strengthen, as the Kingdom’s industry minister visited some of the leading manufacturing firms in the Netherlands. Bandar Alkhorayef visited the Philips Medical Devices…
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The Saudi economy has demonstrated resilience, marked by sustained growth in non-oil sectors and a globally low annual inflation rate of 1.6 percent, as per an official report. This was highlighted during the latest meeting of the…
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The World Economic Forum said on Wednesday that the global economy is poised to improve or remain stable this year, but it also warned of potential dangers stemming from geopolitical and domestic tensions. “The latest Chief Economists…
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