Oil prices saw a slight decline at the end of the previous week, due to tepid U.S. fuel demand and investors cashing in profits as the quarter ended. This comes as inflation data for May increased the likelihood of the Federal Reserve cutting interest rates later this year. Market Movements Brent crude futures for August, […]

Inflation, as measured by the core personal consumption expenditures (PCE) price index, rose 0.1% in May on a seasonally adjusted basis, marking a 2.6% increase from a year ago. This matches forecasts closely, with May recording the slowest annual inflation rate since March 2021, when inflation first surpassed the Federal Reserve’s 2% target. Including food […]

Saudi Arabia’s non-oil exports to China have reached an impressive $47 billion over the past five years, highlighting the deepening economic ties between the two nations. China now accounts for 15% of Saudi exports, reflecting its crucial role as a major global economy and a key partner in the Kingdom’s diversification efforts away from oil. […]

The OPEC Fund for International Development (OFID) has approved $605 million in new financing during its 188th Governing Board meeting, focusing on crucial areas such as global food security, climate action, and infrastructure development. This funding aims to support sustainable growth and enhance resilience in developing nations, aligning with the Sustainable Development Goals (SDGs). Strengthening […]

In the quest to secure a spot as a global leader in artificial intelligence, Britain is making significant strides to position itself as the third major AI hub, trailing only behind the U.S. and China. During London Tech Week at the Olympia events venue, tech executives from around the world showcased the U.K.’s potential as […]

India’s digital currency, the e-rupee, has seen a significant drop in usage following an initial peak, reflecting the broader challenges faced by many countries in gaining public support for digital currencies. The Reserve Bank of India (RBI) launched the e-rupee pilot in December 2022, aiming to establish it as a digital alternative to physical cash. […]

China has called on the European Union to withdraw its decision to impose provisional tariffs on Chinese electric vehicles (EVs). This request follows high-level talks between Chinese Commerce Minister Wang Wentao and Valdis Dombrovskis, Executive Vice President of the European Commission, according to a report by the state media outlet Global Times. The discussions, aimed […]

GENEVA: The United Nations Conference on Trade and Development (UNCTAD) released its latest World Investment Report on June 20, revealing a 2% decrease in global foreign direct investment (FDI) to $1.3 trillion in 2023. The report highlights the influence of a slowing global economy and increasing geopolitical tensions on investment flows. Key Findings Global FDI […]

China’s real estate market remains in a state of flux, with recent data pointing to continued struggles despite recent government interventions. According to the National Bureau of Statistics (NBS), prices for new homes in 70 major cities dropped by 0.7% in May compared to April, marking the largest monthly decline in nearly a decade. This […]

The U.K. economy has reached a pivotal moment as inflation eased to the Bank of England’s targeted 2.0% in May, according to the latest Office for National Statistics (ONS) report. This milestone, coming just before the upcoming national elections in July, underscores a period of relative stability. In May, headline inflation retreated from 2.3% in […]