The dollar traded near weekly highs and US Treasury yields rose on Thursday as US gross domestic product data showed a pick-up in consumer spending and encouraged bets that hikes in US interest rates will start as soon as September.
Gold slipped to near 5-1/2-year lows on Friday and was on course for a sixth straight weekly fall, its longest retreat since 1999, after upbeat US economic data strengthened expectations for a near-term hike in interest rates.
Bahrain’s businessmen last night (July 9) hit out at a decision to raise leasing rates for industrial plots and plans to slap customs duties on industrial raw materials.
“Crucial ministerial decisions affecting the ind
State-owned Abu Dhabi National Oil Co (Adnoc) has lowered the operating rate at its newly expanded Ruwais refinery to about 50 per cent after a new unit encountered start-up problems, industry sources said.
The International Monetary Fund highlighted an increasing divergence in the growth paths of the world's major economies this year, as a pick-up in the Euro Zone and India is expected to be offset by diminished prospects in other key emerging
The world's growth potential took a big hit after the 2007-2009 financial crisis and is likely to lag for years, implying that interest rates should likely stay low for quite a while, the International Monetary Fund said in a study on Tuesda
Gulf banks have shown healthy earnings growth over the last year and a half despite historically low interest rates, according to a new Standard & Poor’s Ratings Services report.
The report titled ‘Economic Recover
Egypt's central bank raised key interest rates on Thursday in what was seen as an attempt to curb inflation pressures less than two weeks after the government slashed subsidies on fuel and electricity.
The central bank raised