The UAE’s economic diversification strategy has reached a historic milestone, with real Gross Domestic Product growing by 3.9% to total AED 455 billion ($123.89 billion) in the first quarter of 2025, compared to the same period in 2024. More significantly, non-oil activities have achieved an unprecedented 77.3% contribution to real GDP—the highest in the country’s […]

Turkey’s medium-term economic programme forecasts inflation to hit 28.5% in 2025 and 16% in 2026, before reaching single digits from 2027, as the government maintains its commitment to orthodox monetary policy following years of unconventional economic experiments under President Erdogan. Turkey’s newly published medium-term economic roadmap represents a critical test of the government’s commitment to […]

U.S. President Donald Trump signed an order on Thursday to implement lower tariffs on Japanese automobile imports and other products that were announced in July, providing some relief to Japan’s export-heavy economy while formally cementing what Trump called “perhaps the largest Deal ever made” with America’s key Asian ally. Formalizing the deal between the U.S. […]

Turkey’s central bank is likely to scale back planned interest rate cuts, beginning with only 200 basis points next week, after inflation in August came in above expectations, driven by surging food and services, JPMorgan said on Wednesday. The revised forecast reflects growing concerns about persistent price pressures and the need to maintain monetary credibility […]

UK government long-term borrowing costs have reached their highest level since 1998, adding unprecedented pressure on Chancellor Rachel Reeves ahead of what promises to be a defining autumn Budget. The interest rate on 30-year government bonds, known as the yield, jumped to 5.72%, making it significantly more expensive for the government to borrow money and […]

Chinese President Xi Jinping announced ambitious plans to accelerate the creation of a development bank and establish an international energy cooperation platform at the largest-ever summit of the Shanghai Cooperation Organization (SCO) in Tianjin, China. The historic gathering on September 1, 2025, brought together leaders from Russia, India, and eight other nations in what represents […]

The plan to restart India-China direct flights was announced by PM Modi after he met Chinese President Xi Jinping on the sidelines of the SCO Summit in Tianjin. India and China are set to resume direct flights for the first time since the pandemic, in signs of a thaw in relations amid rising global trade […]

Key Takeaway: The European Commission’s proposal to eliminate tariffs on US industrial goods represents a crucial step in implementing the historic July trade framework that avoided a devastating tariff war, but creates an asymmetric arrangement where Europe makes most concessions while facing continued challenges in key export sectors. BRUSSELS – The European Commission proposed on […]

Russia has drastically cut its 2025 economic growth forecast to 1.5% from an earlier projection of 2.5%, Finance Minister Anton Siluanov announced to President Vladimir Putin on Wednesday, marking a significant acknowledgment that the country’s war-driven economic model is beginning to falter under the weight of restrictive monetary policy and structural constraints. The dramatic downgrade […]

The United States has imposed crushing 50% tariffs on Indian goods, dealing a severe blow to the world’s fastest-growing large economy and marking the deepest rupture in US-India relations in decades. The punitive levies, which took effect at 12:01 AM US Eastern time on Wednesday, represent among the highest tariff rates imposed by the United […]