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The latest report from the United Nations’ Food and Agriculture Organization (FAO) reveals a continued upward trend in world food prices for the second consecutive month. In April, the FAO’s price index, tracking key food commodities, edged slightly higher to an average of 119.1 points, up from March’s revised 118.8 points. However, this still represents […]

New York Federal Reserve Bank President John Williams reiterated the importance of the central bank’s 2% inflation target, emphasizing its role in maintaining price stability and economic prosperity. Speaking at a monetary policy conference at Stanford University’s Hoover Institution, Williams underscored the necessity of transparent communication to anchor inflation expectations. The Federal Reserve has grappled […]

In its latest policy statement, the U.S. Federal Reserve announced its decision to keep interest rates unchanged, opting for a cautious approach amidst persistent concerns over inflation levels. The central bank acknowledged the need for sustained progress in inflation but refrained from indicating any imminent adjustments to borrowing costs. Highlighting a concerning lack of momentum […]

In a significant development, the Central Bank of the UAE (CBUAE) has reported a remarkable increase in its foreign assets, marking a historic milestone in the nation’s financial landscape. According to recently released statistics, the total foreign assets of the CBUAE surpassed AED 700 billion by the end of February 2024, reflecting an impressive rise […]

After a hiatus since 2019, negotiations to overhaul the World Trade Organization’s (WTO) dispute settlement system are back on track. The focal point of these discussions is the restoration and reform of the dormant appeals bench, which has left more than 30 unresolved trade disputes in limbo. Ambassador Usha Dwarka-Canabady from Mauritius has assumed the […]

Tensions in the Middle East are threatening recent progress in combating global inflation, cautions the World Bank. The ongoing military campaign in Gaza by Israel has driven up oil prices and created a ripple effect across the region, impacting key commodities like oil and gold. In its latest assessment of global commodity markets, the World […]

Riyadh, the vibrant capital of Saudi Arabia, is gearing up to host a pivotal event: the World Economic Forum (WEF) Special Meeting on Global Collaboration, Growth, and Energy for Development. Scheduled for April 28 and 29, this gathering is set to bring together more than 1000 global leaders, ranging from heads of state and government […]

A recent report from the United Nations Conference on Trade and Development (UNCTAD) forecasts a global economic slowdown to 2.6% in 2024, marking the third consecutive year of growth below pre-pandemic levels. This trend, hovering just above the 2.5% threshold associated with recession, highlights pressing issues overshadowed by current inflation concerns: trade disruptions, climate change […]

Concerns over the economic stability of low-income countries have taken center stage as the International Monetary Fund (IMF) sheds light on the daunting fiscal hurdles they face. During recent IMF shareholder meetings, Managing Director Kristalina Georgieva underscored the imperative of addressing unsustainable debt burdens and fiscal challenges gripping these nations, exacerbated by the lingering effects […]

The International Monetary Fund (IMF) has revised its growth forecast for Saudi Arabia’s economy, predicting a robust expansion of six percent in 2025, up from the previous projection of 5.5 percent made in January 2024. This marks the second consecutive upward adjustment in the IMF’s forecast for Saudi Arabia’s economic growth in 2025. The Kingdom’s […]