Bulgaria to Join the Eurozone in 2026
The European Commission and the European Central Bank (ECB) have approved Bulgaria’s adoption of the euro, with the currency switch set to occur on January 1, 2026. This milestone makes Bulgaria the
US Inflation Shows Minimal Change Amid Tariff Uncertainty
In April, inflation remained largely unchanged as the effects of President Donald Trump’s newly implemented tariffs had yet to show up in consumer prices, according to a report from the U.S. Commerce
Stocks Surge as Trump Wins 2024 Presidential Election
The U.S. stock market experienced a significant surge on Wednesday, reaching record highs as Donald Trump secured victory in the 2024 presidential election. The Dow Jones Industrial Average surged by 1,434 points,
UAE and GCC Growth Outlook Strengthens for 2025
Economic growth in the UAE and wider GCC region is forecast to remain strong in 2025, supported by higher oil production, expanding non-oil sectors, and sustained global trade activity. The latest quarterly
ECB Cuts Interest Rates Amid Inflation Revisions and Growth Concerns
The European Central Bank (ECB) announced a 25 basis point interest rate cut on Thursday, reducing the deposit facility rate to 2%, down from a mid-2023 high of 4%. This move follows
Oil Prices Surge Amid Geopolitical Tensions
Oil prices jumped by nearly 2% on Tuesday, reaching a two-week high as escalating geopolitical tensions between Russia and Ukraine, along with the ongoing standoff between the U.S. and Iran, signaled that
U.S. Treasurys Weaken as OECD Cuts Growth Outlook
U.S. Treasury yields pared back earlier gains on Tuesday as investors weighed the U.S. economic growth outlook, following a reduction in estimates by the Organization for Economic Co-operation and Development (OECD). Meanwhile,
China’s Factory Activity Faces Pressure Amid Trade Tensions
China’s factory activity likely contracted for a second consecutive month in May, signaling ongoing struggles amidst trade tensions with major export markets, according to a Reuters poll released on Friday. The factory
Fed Holds Rates Steady Amid Concerns Over Inflation and Tariffs
In the minutes from their May 6-7 meeting, Federal Reserve officials expressed concerns that ongoing tariff disputes could exacerbate inflation and create challenges for future interest rate decisions. Despite these concerns, policymakers
UK Inflation Rises to 3.5% in April, Exceeding Expectations
The United Kingdom’s annual inflation rate reached 3.5% in April, surpassing analyst predictions, as the latest data released by the Office for National Statistics (ONS) revealed. Economists had forecasted the consumer price
Fed President Calls for Patience Amid Tariff Impact
Cleveland Federal Reserve President Beth Hammack emphasized the need for patience and careful analysis in addressing the impact of tariffs on inflation and economic growth. Speaking in her first broadcast interview since
Chobani to Build $1.2 Billion Facility in Rome
Greek yogurt producer Chobani has selected the City of Rome as the site for its new 1.4 million square-foot manufacturing facility, a project expected to bring 1,000 new jobs to the region.
ECB Cuts Interest Rates Amid Growing Trade Tensions
In a move to stabilize the euro zone’s fragile economy, the European Central Bank (ECB) made a 25-basis-point cut to its interest rates on Thursday, lowering its key deposit facility rate to
