US Fed

US Fed chair Jerome Powell hints at further interest rate hikes

The key takeaway from Powell’s speech is monetary policy will stay “restrictive” until inflation is moving firmly toward 2 per cent

arab monetary fund extends loan to Egypt

Egypt gets $616m loan from Arab Monetary Fund

The agreement is aimed at bettering the payment-systems infrastructure, financial inclusion and regulatory framework in Egypt

UAE, Qatar central banks maintain key interest rates

UAE, Qatar central banks keep interest rates steady, tracking US Fed move

The move by the Fed to leave its benchmark rate unchanged suggests that higher borrowing costs have made some progress in slowing inflation

Cost of living drives up expenses for expats

Has cost of living gone up for expats in Dubai, Abu Dhabi?

A recent report on world’s most expensive cities for international employees shows the emirate go up the ranks as the cost of living has gone up

Turkish lira

Turkish lira falls to record low against US greenback

Wall Street sees more weakness ahead for the lira, with Morgan Stanley warning that it may reach 26 per dollar sooner than earlier expected and slide toward to 28 by the end of the year


Egypt inflation surges to highest since July 2017 on food prices

On a monthly basis, prices grew 2.7 per cent, compared with 6.5 per cent in February


How art is being incorporated into investment portfolios for diversification

Developments within the art market over the last decade have been followed almost as closely as those within the stock market

Bal Krishen Rathore

Power Letters 2023: Bal Krishen Rathore, chairman and CEO, Century Financial

Inflation and interest rate forecasts will remain crucial in 2023

Saudi inflation

Saudi inflation hits 3.3% in December, highest in 18 months

Prices for housing, water, electricity, gas and other fuels in the kingdom rose an annual 5.8 per cent, while food and beverages were up 4.2 per cent

UAE’s GDP to grow more than 6% in 2022, says IMF

The fund expects the country’s non-hydrocarbon growth to be around 4 per cent in 2023

DP World

Inflation among key concerns for global supply chain, reveals DP World survey

According to the survey, the other challenges that freight forwarders are currently experiencing include rising and unpredictable freight rates

OPEC+ cuts that steadied market now bring risk of $100 crude

OPEC+ cuts that steadied market now bring risk of $100 crude

Brent rose to a two-month high of $99.56 a barrel on Monday, before paring gains

What factors have led to surge in food prices?

Increasing food costs have pushed inflation higher and remain a pain point for both food and beverage companies and consumers

Saudi finance chief says economy more resilient to global shocks

The kingdom has its lowest unemployment rate in two decades and has managed to keep inflation at 3 per cent


Gold treads water as traders cautiously await US inflation data

Spot gold was little changed at $1,674.62 an ounce as of 7.48am in Singapore

OPEC+ tries to keep oil above $90 with large production cut

It’s the biggest reduction by the Organization of Petroleum Exporting Countries and its allies since 2020

Oil extends losses as traders weigh Iran supply, demand outlook

OPEC+ discusses cutting oil output at next week’s meeting

Oil prices have slumped by a fifth since early August on fears over the global economy

EFG Hermes Holding hosts 16th annual conference in Dubai

EFG Hermes Holding hosts 16th annual conference in Dubai

Around 205 companies from 33 countries are participating in the conference, which is themed ‘Weathering Inflation – Finding Focus in Frontier Emerging Markets (FEM)’

Gold flat ahead of inflation with more big rate hikes looming

Bullion has mainly fluctuated between $1,700 an ounce and $1,720 in September after several months of declines


Gold steadies as Europe’s energy woes see greenback strengthen

Central banks globally are set to keep raising interest rates to fight inflation, weighing on non-yielding assets like gold


Bitcoin loses momentum on weekend with support around 2017 high

Bitcoin dropped as much as 0.8 per cent to $19,591 on Sunday and was little changed as of 7.50am in New York


Gold holds drop as Powell says rates likely to stay elevated

Bullion is heading for a fifth monthly decline, the longest such stretch in four years

Gold heads for narrow weekly gain as investors brace for Powell

Spot gold slipped 0.2 per cent to $1,755.35 an ounce as of 9.04am in Singapore, paring the weekly gain to 0.5 per cent

Gold at three-week low as Fed officials reiterate hawkishness

Higher rates weigh on non-interest bearing bullion

Gold holds drop after Fed minutes signal slower rate-hike pace

Bullion is hovering near a two-week low after the US dollar and bond yields rose Wednesday

Sarah Hewerdine, Head of Marketing at houza.com

Will the latest interest hike spike your dream of buying a home?

Sarah Hewerdine lists out key takeaways of the recent interest rate hike for an everyday home-buyer in the UAE

Gold holds drop after US jobs data support rate-hike outlook

Bullion dropped 0.9 per cent as US non-farm payrolls jumped by more than double what economists had forecast

US Federal Reserve

US Federal Reserve hike leads GCC to follow, but rate paths diverge again

Saudi Arabia, Bahrain and the UAE moved in lockstep with the US central bank, raising their benchmarks by 75 basis points

IMF cuts World GDP outlook a third time as inflation, rates jump

Global economic expansion will likely slow to 3.2 per cent this year, less than the 3.6 per cent forecast by the fund in April

UK inflation at new 40-year high worsens living standards crisis

UK inflation at new 40-year high worsens living standards crisis

Consumer prices rose 9.4 per cent from a year earlier, the biggest increase since February 1982