Malaysia is set to join the BRICS group of emerging economies, Prime Minister Anwar Ibrahim announced in a recent interview with Chinese media outlet Guancha. This move highlights Malaysia’s efforts to align with a coalition aimed at reshaping the global economic landscape traditionally dominated by Western powers. BRICS, originally comprising Brazil, Russia, India, China, and […]

The Bank of Italy announced on Thursday that the Italian economy is expected to grow by 0.8% both this year and next. This projection aligns with the bank’s previous estimates from April, which anticipated a 0.8% expansion for 2024 and a slightly higher 0.9% growth for 2025. Adjusting for the number of working days, the […]

The Central Bank of the UAE (CBUAE) and Qatar Central Bank (QCB) have decided to keep their interest rates unchanged, following the US Federal Reserve’s recent move to maintain its benchmark lending rate. This decision marks the seventh consecutive time the Fed has held rates steady, keeping the target range for the federal funds rate […]

In its 2024 Mid-Year Investments Outlook, JP Morgan Private Bank reports that the global economy remains robust despite ongoing inflationary pressures. Grace Peters, the bank’s Global Head of Investment Strategy, highlighted the theme “A Strong Economy in a Fragile World,” pointing to a complex interplay of economic strength and significant risks. Economic Resilience Amid Inflation […]

The euro hit a one-month low on Monday, declining 0.44% to $1.0753, as political uncertainty surged following French President Emmanuel Macron’s call for a snap legislative election. This move comes in the wake of significant gains by far-right eurosceptic nationalists in the European Parliament elections, prompting Macron to seek a stronger mandate. This political upheaval […]

The Food and Agriculture Organization of the United Nations (FAO) has projected that global cereal stocks will reach an unprecedented 897 million tonnes for the 2024/25 season, a 1.5% increase from their opening levels. This projection highlights a period of significant stability in the global cereal market. Global cereal production is anticipated to reach 2,846 […]

The European Central Bank (ECB) has announced a 0.25% cut in interest rates, marking its first reduction since 2019. This decision comes as the ECB aims to support the eurozone economy amid persistent inflation and slow growth. The rate cut adjusts the central bank’s deposit facility rate from 4% to 3.75%, the marginal lending facility […]

In a strategic move to rejuvenate its automotive industry and stimulate economic growth, China has announced new trials for autonomous vehicle (AV) technology. The Ministry of Industry and Information Technology (MIIT), along with three other government agencies, revealed on Tuesday that they would allow leading car manufacturers to test AV technologies on restricted roads. This […]

Turkey is preparing to introduce taxes on profits from stocks and cryptocurrencies, aiming to strengthen the country’s budget, according to a Bloomberg report. This proposal, led by Treasury and Finance Minister Mehmet Simsek, was discussed in a recent meeting with the ruling AK Party members. The initiative is part of a broader fiscal tightening strategy […]

 Russia’s finance ministry has updated its 2024 budget deficit projection to 2.12 trillion roubles ($23.76 billion), equating to 1.1% of GDP. This adjustment, part of budget amendments submitted to the State Duma, represents an increase from the previous estimate of 1.595 trillion roubles or 0.9% of GDP. Increased Defense Spending This revision is primarily driven […]