Category: Business

Oil prices edged lower on Friday, but were on track to end higher for a second straight week following a steep interest-rate cut by the US Federal Reserve and declining global stockpiles.

Brent futures traded lower 26 cents, or 0.4%, to $73.62 a bar…

The price of Kuwaiti oil rose $1.37 to reach $76.08 per barrel in Thursday’s trading, compared to $73.70 in trading the day before, according to the price announced by the Kuwait Petroleum Corporation (KPC).

In global markets, US West Texas Intermed…

Gold prices hovered near record highs on Friday and were poised for a weekly gain, as markets adjusted to the US Federal Reserve’s recent giant interest rate reduction and signs that further cuts were on the horizon.

Spot gold rose 0.2% to $2,592.17…

The World Bank?’s Board of Directors has approved USD 90 million in additional financing for the Horn of Africa Initiative: Djibouti Regional Economic Corridor project.

The new support will expand the scope of the USD 70 million original project, ap…

ABU DHABI: The UAE Council for Climate Action outlined the progress in implementing national initiatives in collaboration with all relevant authorities in the UAE and the preparation for the upcoming COP29 taking place in the Republic of Azerbaijan in…

– The general index of Qatar Stock Exchange (QSE) rose 33.33 points, or 0.32%, at the start of trading on Thursday, to reach the level of 10,440 points, compared to yesterday’s closing.

QSE’s figures showed an increase in the performance of most sect…

The Turkish Central Bank decided on Thursday to keep the interest rate AT 50 percent for the sixth month in a row declaring vigilance vis a vis the inflation but stoppING short of indicating whether it would ultimately stiffen the monetary policy.

T…

The Bank of England (the central bank) on Thursday kept interest rates unchanged at 5 percent , despite the significant 50 basis point cut by the Federal Reserve (the US central bank).

The Bank of England’s Monetary Policy Committee said in a stateme…