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Global oil prices fell in European trade on Friday, resuming losses and about to hit 11-week lows, and on track for the heftiest monthly loss since September 2024 amid mounting concerns about Trump’s tariffs and their impact on the global economy. Prices are also pressured as Iraq prepares to resume crude exports from Kurdistan, which overshadowed a surprise drop in US crude stocks last week. Prices US crude fell 1.1% today to $69.2 a barrel, with a session-high at $70.145. Brent fell 0.9% to $72.61 a barrel, with a session-high at $73.41. On Thursday, US…
In Riyadh, the villa market has seen steady growth, with average prices now approaching SAR6,000 per square meterSaudi Arabia’s real estate sector has doubled its contributions to the country’s economy last year from 5.9 percent in 2023 to around 12 percent in 2024. This surge was supported by new legislation streamlining regulations, including over 20 new regulations that aim to facilitate development and boost investor confidence.In its latest Saudi report, CBRE Middle East noted that this growth is reflected in various metrics with 192 real estate project licenses issued in 2024, whilst the construction sector added 3,800 new licenses, a…
LONDON — The European Union is expected to announce “concrete” measures on boosting defense financing this week, sources told CNBC, as Europe and the United States clash over support for Ukraine.The 27 EU leaders will gather in Brussels on Thursday for a meeting dedicated to defense and support for Ukraine. It follows two particularly tense moments in U.S.-Europe relations: Vice President JD Vance’s speech in Munich in mid-February when he criticized European leaders; and the on-the-record clash between the U.S. administration and Ukrainian President Zelenskyy in the Oval Office on Friday.European leaders are trying not to alienate President Donald Trump…
Global oil prices fell in European trade on Friday, resuming losses and about to hit 11-week lows, and on track for the heftiest monthly loss since September 2024 amid mounting concerns about Trump’s tariffs and their impact on the global economy. Prices are also pressured as Iraq prepares to resume crude exports from Kurdistan, which overshadowed a surprise drop in US crude stocks last week. Prices US crude fell 1.1% today to $69.2 a barrel, with a session-high at $70.145. Brent fell 0.9% to $72.61 a barrel, with a session-high at $73.41. On Thursday, US…
Global oil prices fell in European trade on Friday, resuming losses and about to hit 11-week lows, and on track for the heftiest monthly loss since September 2024 amid mounting concerns about Trump’s tariffs and their impact on the global economy. Prices are also pressured as Iraq prepares to resume crude exports from Kurdistan, which overshadowed a surprise drop in US crude stocks last week. Prices US crude fell 1.1% today to $69.2 a barrel, with a session-high at $70.145. Brent fell 0.9% to $72.61 a barrel, with a session-high at $73.41. On Thursday, US…
The Japanese yen rose in Asian trade on Monday against a basket of major rivals, moving in a positive zone against the US dollar and recovering from two-week lows, and about to trade above 150 yen once more. The yen performed strongly in February, led by the outlook of a Japanese interest rate hike in March with traders now waiting for more clues on the future path of Japan’s monetary policies. The Price The USD/JPY pair fell 0.25% today to 150.24 yen per dollar, with February 20 highs at 151.02. The yen lost 0.55% on Friday,…
The euro rallied in European trade on Monday against a basket of major rivals, starting its recovery from two-week lows against the dollar and on track for the first profit in four days as European leaders agreed to present urgent plans to the US to achieve peace in Ukraine. Additionally, after bullish remarks from some European Central Bank officials, the odds of a March ECB interest rate cut dropped, with traders awaiting important eurozone inflation data later today to gather more clues. The Price The EUR/USD pair rose 0.5% today to $1.0423, with a session-low at $1.0399. …
As inflation continues to decelerate, the central bank is widely expected to deliver another 250 basis-point cut this weekTürkiye’s annual inflation rate eased for the ninth consecutive month, reaching 39.05 percent in February. This marks the lowest inflation level since July 2023, according to official data released on Monday. Annual core inflation, which excludes volatile items such as energy and food, meanwhile, fell to a 37-month low of 40.21 percent.On a monthly basis, the consumer price index (CPI) rose 2.27 percent compared to 5.03 percent in January. Core CPI increased 1.80 percent month-on-month, significantly lower than the 5.59 percent rise…
Pakistan’s consumer price index (CPI) inflation rate maintained its downward trend on Monday, hitting more than a 9-year low at 1.51 per cent year-on-year (YoY) in February. Analysts have noted that the current scenario is one of disinflation, which indicates a decrease in the pace of the inflation rate, whereas deflation (the opposite of inflation) occurs when general price levels fall. “Pakistan CPI for month of Feb-2025 has clocked in at 1.5pc, lowest reading in 113 months,” Topline Securities, a brokerage firm in Karachi, noted. “Inflation came lower than market expectations,” it added. “Inflation during 8MFY25 has averaged at 5.85pc…
Proposals to provide families with access to free preschool education appear to be gaining political momentum in China, as the country intensifies its efforts to convince couples to have more children by creating a “birth-friendly society”.The proposal – which involves expanding free public education in China from the current nine years to 12 years, by including three years of preschool – follows similar suggestions made during two local-level political gatherings in January.“Free preschool education can reduce education costs for families, alleviate families’ financial burdens, and effectively tackle young people’s unwillingness and fear to have children,” the deputy who made the…