World Economy

About 70% of UAE residents prefer to rent rather than buy property, despite half of them having resided in the country for five years or more, revealed a survey by UAE real estate website…

US companies consider India their next FDI frontier and are keen to pump in billions of dollars into the country’s infrastructure and transportation sector, Union Minister Nitin Gadkari has said…

Brazil’s interim government celebrated the news that the International Monetary Fund reduced its negative outlook forecast for the country’s GDP in 2016, from 3.8% in April to 3.3% in July. The…

Applications for US mortgages slipped from a three-plus year high last week as home borrowing costs rebounded from their lowest levels in more than three years, according to data from an industry…

General Electric Co on Wednesday said it would partner with Huawei Technologies Co Ltd to develop smart machines designed to boost productivity, part of a drive to promote its “industrial internet…

Gold fell on Wednesday finding little impetus from easing equities as the dollar rose to a four-month high on the back of better-than-expected US housing data, Reuters reported. The dollar firmed…

The pound touched a one-week low versus the dollar before a report that economists say will show claims for unemployment benefits increased in June, having dropped a month earlier, Bloomberg…

Brexit is still sending shock waves through the $5.3-trillion-a-day currency market—and that’s bad news for multinational companies, according to FiREapps.

Residential construction is coming back to life in Spain eight years after a property crash, with foreign investment pouring into developments in Madrid and Barcelona, and a jump in building…

Asian stock markets were mixed Wednesday as investors reassessed the global economy following the International Monetary Bank’s global growth cut. They were also awaiting corporate earnings…

South Africa’s headline inflation pulled further away from the central bank’s target range in June, data showed on Wednesday, but analysts said the increase was probably not enough to justify an…

The International Monetary Fund cut its global growth forecasts for the next two years, citing uncertainty over Britain’s looming exit from the European Union.

The move included a nearly…

A rising inflow of foreign direct investment is rare good news for the South Korean economy that is struggling with declining exports, stagnant domestic demand and the task of overhauling…

Unemployment in Scotland fell by 18,000 between March and May, according to official figures. STV News reported. The latest data from the Office for National Statistics puts the number of…

A $166 million international loan to Commercial Bank of Qatar is part of a rapid increase in foreign debt at Qatari banks as they raise money to operate in an era of cheap oil.

The dynamics of Russian GDP will become positive in the near future, Minister of Economic Development Alexei Ulyukayev said on Tuesday in a meeting with Japan’s business community.

Chinese steel futures fell more than 5% on Tuesday, extending a decline in the previous session as slower home sales spurred investors to take profits amid concerns about the world’s second-…

German investor morale fell in July to the lowest level since November 2012 and much more than expected, a survey by German think tank ZEW showed on Tuesday, CNBC reported. The Mannheim-based…

Foreign investors in Bahrain will be able to acquire 100% business ownership in various sector as government approves amendment to existing commercial companies’ law. The decision was made at…

The United States expects to raise more than $2 billion this week for war-torn Iraq during a pledging conference in Washington, a senior State Department official said, Reuters reported. “We’re…

Global stocks mostly fell Tuesday as investors monitored corporate earnings and further clues about the state of the world economy. Japan’s index jumped on a weaker yen and a Pokemon-powered rally…

Global warming will cost the world economy more than £1.5 trillion ($1.97 trillion) a year in lost productivity by 2030 as it becomes too hot to work in many jobs, according to a major new report…

Foreign banks have invested heavily in Turkey, leaving them exposed to any jolt to confidence as the country purges police, military and the judiciary following a failed military coup.

EU regulators are set to impose a record fine this week on several of Europe’s biggest truckmakers that are accused of colluding to rig higher prices, sources close to the matter told AFP.

European Union member states are not obliged to make shareholders and junior creditors pay before intervening to rescue a bank, the EU top court said on Tuesday, Reuters reported. EU rules…