Emerging markets
What a Fed rate cut could mean for the world
The U.S. Federal Reserve is on Wednesday heading for its first interest rate cut since the onset of the Covid-19 pandemic — and despite the move being widely forecast, global investors are braced for impact. The Fed is behind a swathe of its central bank peers, including those in the euro zone, the U.K., Canada, […]
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Saudi Arabia expects to get access to Nvidia’s high performance chips ‘within the next year’
Saudi Arabia is optimistic about gaining access to U.S. chipmaker Nvidia’s high-performance chips, which would enable it to develop and operate the most advanced artificial intelligence models. Speaking to CNBC on Thursday, a top official at the Saudi Data and AI Authority, Abdulrahman Tariq Habib, said the kingdom expected to make such a stride in […]
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CEO of property firm Damac expresses concerns over ‘expensive’ Dubai
DUBAI, United Arab Emirates — Dubai’s property scene is showing no sign of cooling off, as 2024 is on track to be another record year in terms of sales figures and property values, according to local real estate firms. Increasing demand for property, especially in the luxury space, is boosting prices not just of homes, […]
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‘Spook the West’: Turkey’s bid for BRICS both a strategic and symbolic step, analysts say
Turkish Foreign Minister Hakan Fidan attends the BRICS+ session on a two-day BRICS foreign ministers summit held in Nizhny Novgorod, Russia on June 11, 2024. Sefa Karacan | Anadolu | Getty Images Turkey’s request to join the BRICS alliance is a move seen as both strategic and symbolic as the Eurasian country of 85 million […]
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China, India and more: Veteran investor shares his take on emerging markets right now
Emerging markets have been making headlines this year, with growing economies, populations and consumer demand all garnering the attention of investors — but not all EMs are created equal. China in particular has been of concern, given uncertainty over how its economy will perform looking ahead. George Boubouras, managing director for research, investment and advisory […]
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Saudi Arabia’s fiscal breakeven oil price is rising fast. What will the kingdom do about it?
An offshore drilling platform stands in shallow waters at the Manifa offshore oilfield, operated by Saudi Aramco, in Manifa, Saudi Arabia, on Wednesday, Oct. 3, 2018. Simon Dawson | Bloomberg | Getty Images Saudi Arabia has a superpower. Not only is it the largest exporter of crude oil in the world; its production costs for […]
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Oil giant Saudi Aramco’s second-quarter profit dips 3% on lower crude production volumes
A 3D printed natural gas pipeline on Feb. 8, 2022. Dado Ruvic | Reuters Saudi state oil giant Aramco reported $29.1 billion in net profit for the second quarter, a dip of just over 3% from the same period last year as crude production volumes remained low. Aramco reaffirmed its second-quarter base dividend of $20.3 […]
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Turkey blocks Instagram throughout country amid complaints of censorship of Hamas posts
Didem Mente | Anadolu | Getty Images Turkey blocked access to Instagram for its 85 million people, the country’s Information and Communication Technologies Authority announced Friday morning. “Instagram.com has been blocked by a decision on the date of 02/08/2024,” local media cited a post on the authority’s website as saying. According to Turkish media, there […]
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Dubai set to welcome even more millionaires as wealthy individuals abandon the UK
Aerial view of cityscape and skyscraper at sunset in Dubai Marina. Lu Shaoji | Moment | Getty Images The United Arab Emirates is on track to be the world’s top wealth magnet for the third year running, according to the Henley Private Wealth Migration Report. At the same time, the U.K. – already the source […]
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Bangladesh army enforces curfew as students-led protests spiral
Anti-quota protests in Dhaka on July 18, 2024. Bangladesh students vowed on July 18 to continue nationwide protests against civil service hiring rules, rebuffing an olive branch from Prime Minister Sheikh Hasina who pledged justice for seven killed in the demonstrations. – | Afp | Getty Images Bangladesh soldiers patrolled the deserted streets of the […]
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