#inflation

Egypt

Egypt inflation surges to highest since July 2017 on food prices

On a monthly basis, prices grew 2.7 per cent, compared with 6.5 per cent in February

Art

How art is being incorporated into investment portfolios for diversification

Developments within the art market over the last decade have been followed almost as closely as those within the stock market

Bal Krishen Rathore

Power Letters 2023: Bal Krishen Rathore, chairman and CEO, Century Financial

Inflation and interest rate forecasts will remain crucial in 2023

Saudi inflation

Saudi inflation hits 3.3% in December, highest in 18 months

Prices for housing, water, electricity, gas and other fuels in the kingdom rose an annual 5.8 per cent, while food and beverages were up 4.2 per cent

UAE’s GDP to grow more than 6% in 2022, says IMF

The fund expects the country’s non-hydrocarbon growth to be around 4 per cent in 2023

DP World

Inflation among key concerns for global supply chain, reveals DP World survey

According to the survey, the other challenges that freight forwarders are currently experiencing include rising and unpredictable freight rates

OPEC+ cuts that steadied market now bring risk of $100 crude

OPEC+ cuts that steadied market now bring risk of $100 crude

Brent rose to a two-month high of $99.56 a barrel on Monday, before paring gains

What factors have led to surge in food prices?

Increasing food costs have pushed inflation higher and remain a pain point for both food and beverage companies and consumers

Saudi finance chief says economy more resilient to global shocks

The kingdom has its lowest unemployment rate in two decades and has managed to keep inflation at 3 per cent

gold

Gold treads water as traders cautiously await US inflation data

Spot gold was little changed at $1,674.62 an ounce as of 7.48am in Singapore

OPEC+ tries to keep oil above $90 with large production cut

It’s the biggest reduction by the Organization of Petroleum Exporting Countries and its allies since 2020

Oil extends losses as traders weigh Iran supply, demand outlook

OPEC+ discusses cutting oil output at next week’s meeting

Oil prices have slumped by a fifth since early August on fears over the global economy

EFG Hermes Holding hosts 16th annual conference in Dubai

EFG Hermes Holding hosts 16th annual conference in Dubai

Around 205 companies from 33 countries are participating in the conference, which is themed ‘Weathering Inflation – Finding Focus in Frontier Emerging Markets (FEM)’

Gold flat ahead of inflation with more big rate hikes looming

Bullion has mainly fluctuated between $1,700 an ounce and $1,720 in September after several months of declines

Gold

Gold steadies as Europe’s energy woes see greenback strengthen

Central banks globally are set to keep raising interest rates to fight inflation, weighing on non-yielding assets like gold

Bitcoin

Bitcoin loses momentum on weekend with support around 2017 high

Bitcoin dropped as much as 0.8 per cent to $19,591 on Sunday and was little changed as of 7.50am in New York

gold

Gold holds drop as Powell says rates likely to stay elevated

Bullion is heading for a fifth monthly decline, the longest such stretch in four years

Gold heads for narrow weekly gain as investors brace for Powell

Spot gold slipped 0.2 per cent to $1,755.35 an ounce as of 9.04am in Singapore, paring the weekly gain to 0.5 per cent

Gold at three-week low as Fed officials reiterate hawkishness

Higher rates weigh on non-interest bearing bullion

Gold holds drop after Fed minutes signal slower rate-hike pace

Bullion is hovering near a two-week low after the US dollar and bond yields rose Wednesday

Sarah Hewerdine, Head of Marketing at houza.com

Will the latest interest hike spike your dream of buying a home?

Sarah Hewerdine lists out key takeaways of the recent interest rate hike for an everyday home-buyer in the UAE

Gold holds drop after US jobs data support rate-hike outlook

Bullion dropped 0.9 per cent as US non-farm payrolls jumped by more than double what economists had forecast

US Federal Reserve

US Federal Reserve hike leads GCC to follow, but rate paths diverge again

Saudi Arabia, Bahrain and the UAE moved in lockstep with the US central bank, raising their benchmarks by 75 basis points

IMF cuts World GDP outlook a third time as inflation, rates jump

Global economic expansion will likely slow to 3.2 per cent this year, less than the 3.6 per cent forecast by the fund in April

UK inflation at new 40-year high worsens living standards crisis

UK inflation at new 40-year high worsens living standards crisis

Consumer prices rose 9.4 per cent from a year earlier, the biggest increase since February 1982

UAE President

UAE President restructures social welfare programme for low-income citizens

Housing and other basic needs such as food, electricity, water and fuel are also covered by the programme

Oil

Oil holds above $110 as tight supply balanced by recession risk

Oil has started the third quarter in strong form after dropping in June

Ether leads crypto market surge after CPI report release

Ether recovery helps crypto revisit $1tn market cap level

It appears to have found support around its 200-week moving average, which currently sits near $1,200

electric car

Inflation turns EVs into luxury items, threatening broader electric shift

An electric car now costs $61,000 on average

Oil

Oil set for weekly loss as traders weigh monetary tightening

Oil is still up more than 50 per cent this year after rebounding demand combined with upended trade flows