Browsing: Business

Gulf Cooperation Council Secretary-General Jasem Mohamed Albudaiwi called for closer coordination with Europe to protect food, energy and commodity supply chains. He spoke in New York on September 24 during the second ministerial meeting of the Rome Coalition for fertiliser

Egypt’s central bank kept its benchmark interest rates unchanged on Thursday, maintaining borrowing costs at levels set in February. The Monetary Policy Committee left the overnight deposit rate at 19.00% and the overnight lending rate at 20.00%. It also kept

Economic growth across developing Asia and the Pacific is forecast to slow to 5.0% in 2026. The region expanded 5.5% in 2025, according to the Asian Development Bank’s latest outlook. The new 2026 estimate stands 0.1 percentage point above the

Remittances from Egyptians working abroad totaled about $29.7 billion from January through July 2026. The Central Bank of Egypt said the figure rose 28.1% from about $23.2 billion a year earlier. The seven-month increase added roughly $6.5 billion compared with

China left its benchmark lending rates unchanged in September, extending a period of stable borrowing costs. The one-year loan prime rate remained at 3.0%, while the over-five-year rate stayed at 3.5%. Banks commonly use the longer-term benchmark when pricing mortgages.

South Korea will maintain its fuel tax cuts through late November 2026, extending 15 percent reductions on gasoline and 25 percent cuts on diesel and butane to shield the domestic economy from international oil market shocks. Finance Minister Koo Yun-cheol

India warned Washington that proposed tariffs on countries purchasing Russian crude oil could harm bilateral relations and disrupt global commodity trade. The statement followed the passage of the Sanctioning Russia and Iran Act of 2026 by the United States House

The Bank of England has laid out a multi-year plan to complete the unwind of its monetary-policy gilt portfolio by September 2034. The central bank will conduct £20 billion of active gilt sales each year. Bonds reaching maturity will also

Gold prices continued their downward trend across global commodity exchanges as investors digested the decision by the U.S. Federal Reserve to raise benchmark interest rates by a quarter of a percentage point. Spot bullion fell 1 percent during international trading

Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan met Indian Prime Minister Narendra Modi in New Delhi on September 12. The leaders discussed stronger bilateral relations between the United Arab Emirates and India. Their talks took