Moody’s, the esteemed credit rating agency, delivered a sobering update on Friday, shifting its outlook on the United States’ credit rating from ‘stable’ to ‘negative.’ The move was prompted by a notable upswing in debt servicing costs and what the agency identified as “deep-seated political polarization.” In its statement, Moody’s underscored the increasing downside risks […]

The Competition and Markets Authority (CMA) has recently highlighted a notable incongruity between the decreasing wholesale fuel costs and the prices motorists are encountering at the pumps across the UK. This has spurred discussions about the effectiveness of market competition and its ramifications on the ongoing cost of living challenges. According to the CMA’s latest […]

Kenya and the Czech Republic have taken decisive steps to enhance their trade and investment relationship, building on a history of cooperation that dates back to 1993. During a visit to Kenya, Prime Minister Petr Fiala and President William Ruto met at State House Nairobi to consolidate their commitment to mutual growth and collaboration. President […]

In an effort to align with the UAE’s upcoming COP28 conference, the World Governments Summit (WGS) Organization has unveiled a pivotal report, aptly titled “Net Zero: The Countdown Has Begun.” This comprehensive report offers a pragmatic assessment of global warming challenges while laying out five crucial actions for effective decarbonization. Produced in collaboration with respected […]

The ongoing Israel-Hamas conflict has drawn the attention of the World Bank, which has issued a warning about the potential implications for global oil prices and commodity markets, highlighting the existing six percent rise in oil prices as a precursor to further instability. The latest bout of hostilities began when Hamas militants from Gaza launched […]

In a surprising turn of events, the U.S. economy displayed remarkable resilience during the third quarter, as it grew at an annualized rate of 4.9%. This growth, reported by the Commerce Department, defied concerns related to rising interest rates, persistent inflation, and various economic challenges. Economists had projected a 4.7% increase in real GDP for […]

China Energy Engineering Corporation has made significant strides in Egypt’s sustainable energy sector, sealing two crucial Memorandums of Understanding (MoUs) to promote green hydrogen projects and the utilization of renewable energy sources. The first MoU, signed in partnership with North Abu Qir for Agricultural Nutrients, paves the way for the establishment of a green hydrogen […]

Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), delivered a sobering message at the Future Investment Initiative (FII) in Riyadh. She highlighted the current state of the global economy, which is marred by persistent inflation, necessitating high interest rates, thereby adding to the strain on growth prospects. Georgieva stressed the inevitability of […]

The World Bank is gearing up to make a substantial expansion in its catastrophe bonds (cat bonds) offering, aiming to boost it from $1 billion to $5 billion within the next five years. Michael Bennett, a spokesperson for the World Bank, made this announcement, marking a notable development in the world of financial instruments. The […]

The US financial landscape has witnessed a significant milestone, as the yield on the benchmark 10-year U.S. Treasury note surged past the 5.0% threshold. This achievement hasn’t been seen since July 2007, and it comes on the heels of a notable but short-lived attempt last week. The 10-year Treasury bond, long-regarded as a safe haven […]