#inflation
The key takeaway from Powell’s speech is monetary policy will stay “restrictive” until inflation is moving firmly toward 2 per cent
The agreement is aimed at bettering the payment-systems infrastructure, financial inclusion and regulatory framework in Egypt
The move by the Fed to leave its benchmark rate unchanged suggests that higher borrowing costs have made some progress in slowing inflation
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
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
On a monthly basis, prices grew 2.7 per cent, compared with 6.5 per cent in February
Developments within the art market over the last decade have been followed almost as closely as those within the stock market
Inflation and interest rate forecasts will remain crucial in 2023
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
The fund expects the country’s non-hydrocarbon growth to be around 4 per cent in 2023
According to the survey, the other challenges that freight forwarders are currently experiencing include rising and unpredictable freight rates
Brent rose to a two-month high of $99.56 a barrel on Monday, before paring gains
Increasing food costs have pushed inflation higher and remain a pain point for both food and beverage companies and consumers
The kingdom has its lowest unemployment rate in two decades and has managed to keep inflation at 3 per cent
Spot gold was little changed at $1,674.62 an ounce as of 7.48am in Singapore
It’s the biggest reduction by the Organization of Petroleum Exporting Countries and its allies since 2020
Oil prices have slumped by a fifth since early August on fears over the global economy
Around 205 companies from 33 countries are participating in the conference, which is themed ‘Weathering Inflation – Finding Focus in Frontier Emerging Markets (FEM)’
Bullion has mainly fluctuated between $1,700 an ounce and $1,720 in September after several months of declines
Central banks globally are set to keep raising interest rates to fight inflation, weighing on non-yielding assets like gold
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
Bullion is heading for a fifth monthly decline, the longest such stretch in four years
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
Higher rates weigh on non-interest bearing bullion
Bullion is hovering near a two-week low after the US dollar and bond yields rose Wednesday
Sarah Hewerdine lists out key takeaways of the recent interest rate hike for an everyday home-buyer in the UAE
Bullion dropped 0.9 per cent as US non-farm payrolls jumped by more than double what economists had forecast
Saudi Arabia, Bahrain and the UAE moved in lockstep with the US central bank, raising their benchmarks by 75 basis points
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
Consumer prices rose 9.4 per cent from a year earlier, the biggest increase since February 1982