WASHINGTON DC: The steering committee for both International Monetary Fund and the World Bank on Saturday emphasized the need for broader accountability as the institutions implemented reforms to help countries grapple with climate change and other shocks. “We must hold ourselves accountable more broadly as we become a better and bigger bank,” said Mohammed bin … Read more
RIYADH: Egypt’s new economic path, focused on structural reforms empowering the private sector to lead growth and attracting investment, has begun to yield positive results, said the country’s finance minister. Mohamed Maait highlighted that despite the harsh impacts of global and regional economic crises, Egypt has seen financial indicators surpass budget estimates and targets over the … Read more
How a ceasefire and unrestricted aid access could yet prevent a famine in north Gaza LONDON: Desperate appeals from UN agencies urging Israel to allow aid into Gaza to alleviate hunger and avert an imminent famine in the north of the embattled Palestinian enclave appear to have fallen on deaf ears. Despite a UN Security … Read more
RIYADH: Local markets and online shopping will experience a surge during Ramadan activities thanks to an influx of consumers adapting their shopping habits during the holy period. The purchasing power of customers in the Kingdom during the month reflects a unique blend of cultural traditions, religious observances, and economic factors. In line with global consumer tendencies, … Read more
Saudi Arabia named ‘most improved country overall’ in US Chamber of Commerce IP Index RIYADH: Saudi Arabia has received recognition as “the most improved country overall” in the 12th edition of the US Chamber of Commerce International Intellectual Property Index. Released on March 2, the report emphasizes the several achievements of the Kingdom, with Vice … Read more
RIYADH: Saudi Arabia has shown great ambition in financial reforms but could pick up a faster pace, according to the Minister of Finance, Mohammed Al-Jadaan. Speaking during a panel session at the third Saudi Capital Market Forum, Al-Jadaan urged Mohammed El-Kuwaiz, chairman of the Saudi Capital Market Authority, and Tadawul to expedite compliance while emphasizing … Read more
Global Markets – stocks set to snap 9-week winning streak on interest rate rethink LONDON/TOKYO: Global equities were on course to snap a nine-week winning streak, government bonds sold off, and the dollar was poised for its strongest weekly advance since mid-May, as bets on aggressive central bank rate cuts were rolled back, according to … Read more