Economic news

Reports on the global and local economy include markets, investments, and major projects.

The International Monetary Fund expects a surge in the growth of economies in the Middle East and North Africa in 2025

In a positive shift in economic forecasts, the International Monetary Fund raised its growth expectations for the economies of the Middle East and North Africa to 3.3% for 2025, improving its previous forecast which indicated only 2.6% last May

Oil Prices Decline Amid Concerns of Oversupply and Slowing Global Demand

16 minutes ago

Economy

Diana Barkat

Oil Prices Decline Amid Concerns of Oversupply and Slowing Global Demand

Global oil prices witnessed a slight decline today, Tuesday, affected by concerns of oversupply and a drop in demand due to ongoing trade tensions between the United States and China, the two largest consumers of crude oil in the world.

The Rise of American Rare Earth Companies' Stocks Supported by Government Actions to Counter Chinese Dominance

1 day ago

Economy

Diana Barkat

The Rise of American Rare Earth Companies' Stocks Supported by Government Actions to Counter Chinese Dominance

The American stock market witnessed a notable surge on Monday for companies operating in the rare earth sector, following official statements and government actions aimed at strengthening local supply chains.

Saudi Arabia launches the "King Salman Gate" project to expand the capacity of the Grand Mosque

The Kingdom of Saudi Arabia announced a massive urban project named "King Salman Gate", aimed at accommodating nearly one million additional worshippers next to the Grand Mosque in Mecca, as part of the Vision 2030 plans aimed at enhancing the Kingdom's status as a global religious destination and diversifying the economy.

The Israeli Port of Eilat Requests Egypt's Help to Stop Houthi Threats to Navigation

An Israeli report revealed that the Port of Eilat requested Egypt's support to pressure the Houthis to stop launching rockets at the port and threatening passing ships through the Suez Canal.

Gold Recovers Losses After Sharp Drop... Investors Await Trade Signals from Trump

Gold regained some of its losses today, Monday, after a week that saw a sharp decline from record levels exceeding $4300 per ounce.

Washington Pressures New Delhi to Stop Russian Oil Flow

Trump's threats represent a real test of the complex relationship between Washington and New Delhi.

Beijing Accuses Washington of Attempting to Hack Vital Timing Systems

The Chinese authorities accused the United States today, Sunday, of attempting a cyber attack on the National Time Center systems in the city of Xi'an, which they described as a potential disaster for the country's critical infrastructure.

Suez Canal in Crisis: Revenues Drop 60% and Egypt Loses Billions

Egypt is facing a significant challenge in one of its most important sources of income amid rising regional tensions. Attention is turning to the Red Sea, awaiting a breakthrough that may restore balance.

Minister of Economy: Syria will adopt the American financial system with local modifications

The Syrian Minister of Economy and Industry, Nidal Al-Shaar, said on Saturday that his country is moving towards adopting the American financial system as a basis for restructuring the financial sector, with limited modifications that take into account the specificity of the Syrian reality.

The United States is looking to enhance its investments in the critical minerals sector in Liberia

The meeting addressed strengthening bilateral relations between the two countries and opening new investment and trade opportunities, with a focus on providing jobs and achieving sustainable economic growth.

Wall Street Ends the Week with Gains After Trump's Statements and Bank Reassurances

The S&P 500 index rose by 0.50% to close at 6662.44 points, while Nasdaq achieved a weekly increase of 2.1%.

The White House announces a freeze on $11 billion infrastructure projects due to the government shutdown

Russell Vought, the Director of the Office of Management and Budget at the White House, announced on Friday, October 17, the decision of the U.S. administration to freeze a new package of infrastructure projects worth $11 billion

The dollar declines at the largest weekly rate in months against the franc and yen

At the end of a turbulent week, the US dollar showed significant weakness against safe-haven currencies, dropping to its lowest level in a month against the Swiss franc, while it declined on a weekly basis against the Japanese yen.

Gold Retreats from Its Historical Highs Amid Dollar Pressure and Trump's Statements

Precious metal markets saw a noticeable decline at the end of trading on Friday, October 17, as the price of gold dropped by about 1% at settlement, moving away from its all-time high after surpassing the $4300 per ounce mark.

Apple Wins Broadcasting Rights for Formula 1 in the United States for Five Years at an Estimated Value of $140–150 Million Annually

In a strategic move to enhance its presence in the sports broadcasting market, Apple has acquired the broadcasting rights for the Formula 1 World Championship in the United States under a five-year contract.

Rubio: The postponement of the vote on the fossil fuel tax by the International Maritime Organization is a major victory for President Trump

U.S. Secretary of State Marco Rubio said that the International Maritime Organization's decision to postpone the vote on imposing a tax on fossil fuels represents a "major victory" for U.S. President Donald Trump, who strongly opposed this move in recent weeks.

Russia and Morocco: Strong Growth in Trade Exchange and Increasing Cooperation

Patrushev confirmed that Morocco is one of Russia's most important partners in Africa, expressing his satisfaction with the continued development of dialogue between the two countries despite the current geopolitical circumstances,

Egypt officially raises gasoline and diesel prices and stabilizes them until October 2026

Egypt raised gasoline and diesel prices starting today, stabilizing them for a full year, in a move that comes amid promises to support markets and stabilize prices.

Reuters: Turkey continues to import Russian oil despite US pressure

The latest shipping data released by the "London Exchanges Group", alongside information from market sources, revealed that Turkey aims to maintain its imports of Russian Urals crude oil during October at a level of 280,000 barrels per day.

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