In a recent address, IMF Chief Kristalina Georgieva painted a sobering picture of the ongoing repercussions of the COVID-19 pandemic. Despite glimpses of improvement, the global economy remains ensnared in the aftermath, grappling with a substantial $3.3 trillion output loss since 2020. Georgieva’s remarks, delivered at an event hosted by the Atlantic Council, highlighted marginal […]

Newly released data has revealed a slight uptick in US inflation, stirring discussions not only in economic circles but also within the political landscape as the country gears up for the presidential election. The core consumer price index (CPI) showed a modest 0.4 percent increase in March, slightly surpassing expectations. Year-over-year figures remained steady at […]

Italy’s economic landscape is witnessing a recalibration as the cabinet approves a revised Economic and Financial Document (DEF), signaling adjustments to growth forecasts for 2024 and beyond. The DEF, a cornerstone document outlining Italy’s economic objectives over the next three years, has been officially endorsed, reflecting the government’s response to evolving economic conditions. The revised […]

Global food prices saw a notable uptick, marking the first increase since July, according to the latest report from the United Nations’ Food and Agricultural Organization (FAO). The FAO’s overall Food Price Index climbed by 1.1 percent during the month, reaching 118.3 points. However, on an annual basis, the index remained 7.7 percent lower. Notably, […]

India’s economic strength shines anew as its foreign exchange reserves hit an unprecedented milestone. Data disclosed by the Reserve Bank of India (RBI) reveals a continual ascent, with reserves reaching a historic high of $645.58 billion as of March 29, marking the sixth straight week of expansion. The recent $2.95 billion increment adds to the […]

Oman’s debt capital market experienced a 7% year-on-year decrease, reaching $44 billion in 2023, according to Fitch Ratings. This contraction was primarily due to the government’s proactive debt repayment strategy, utilizing surplus funds generated by elevated oil prices. Despite the overall downturn, there was a notable shift in market dynamics. The proportion of sukuk, Islamic […]

Inflation in Turkey continued its upward trend, with the latest data from the country’s statistics agency, TUIK, revealing a rise to 68.5 percent year-on-year in March. This increase coincided with a notable setback for President Recep Tayyip Erdogan’s party in the recent municipal elections, attributed by many to the escalating cost of living. March saw […]

In a significant development for Europe’s largest economy, preliminary data from the Federal Statistics Office revealed that German inflation eased more than expected in March, dropping to 2.3%, its lowest level since June 2021. This decline, from February’s 2.7%, was largely attributed to a notable decrease in energy prices. Carsten Brzeski, global head of macroeconomics […]

Last month, OPEC’s oil output experienced a decrease, as reported by a recent survey conducted by Reuters. This dip was primarily driven by reduced exports from major producers, notably Iraq and Nigeria. The decline comes amidst ongoing efforts by some OPEC+ members to voluntarily curb supply, aligning with the broader goals of the alliance. According […]

Muscat – Oman’s financial landscape is set to undergo a transformative change as the Central Bank of Oman (CBO) announces plans to introduce the International Bank Account Number (IBAN) system. This collaborative effort with the nation’s banking community signals Oman’s commitment to enhancing its financial infrastructure, fostering seamless transactions, and aligning with global banking standards. […]