A Xiaomi SU7 electric car is displayed at a Xiaomi store in Beijing on March 26, 2024.

UAE PM Directs Development Of World's Largest, Most Advanced Car Market In Dubai

The aim behind the move is to strengthen Dubai's position as a leading city in the automotive trade sector. Following the prime minister's order, a partnership agreement between Dubai Municipality and DP World was signed Thursday for the development of the new car market. This market will span 20 million square feet.

UAE Stock Markets Gain AED 21.3 Billion In New Capital From 3 IPOs In 2024

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The IPOs and new listings have increased market liquidity, making it more attractive for investors and strengthening its position as a key global financial and business hub. Alef Education Holding plc was the first IPO on the Abu Dhabi Securities Exchange (ADX) in 2024, with a market value of about AED 9.45 billion.
Consumer prices in the eurozone slowed to 2.8 percent in January, from 2.9 percent in December

Eurozone Inflation Slows To 2.8% In January

Consumer prices slowed to 2.8 percent in January, from 2.9 percent in December, the EU's statistics agency said. Analysts surveyed by Bloomberg and FactSet had forecast inflation to slow to 2.7 percent.
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The authorisation of a bitcoin exchange-traded fund in the United States would make it easier for investors to trade in the cryptocurrency

Bitcoin Wins Boost On Hope Of Broader Trading

Bitcoin's price has risen strongly in recent weeks with the United States possibly set to allow a popular type of trading in the cryptocurrency that would further normalise the asset.
A spike in oil prices to 10-month highs has fuelled concerns of a fresh burst of inflation

Asian Markets Swing As Crude Spike Stokes Inflation Concerns

Equities fluctuated Wednesday ahead of a crunch US inflation report, with investors increasingly nervous that a recent spike in oil will put fresh upward pressure on consumer prices and force the Federal Reserve to lift interest rates again.
Investors are keenly awaiting the release of the Federal Reserve's preferred gauge of inflation later in the day

Asian Markets Mixed Ahead Of Key US Inflation Report

Markets were mixed Thursday as investors struggled to maintain momentum from Wall Street's rally, even after fresh data reinforced optimism the Federal Reserve will be able to hold off any more interest rate hikes this year.
UK annual inflation dropped sharply in July, easing a cost-of-living crisis that has pushed up prices of goods

UK Annual Inflation Drops To 15-month Low

Britain's annual inflation rate dropped sharply in July to a 15-month low, official data revealed Wednesday, off the back of lower energy prices and in line with economists' expectations.
Fitch's decision to cut the US debt rating follows the long-running standoff on Capitol Hill earlier this year that saw the world's top economy flirt with a possible default, which rattled markets

Asian Markets Drop As US Downgrade Jolts Latest Rally

Asian markets followed Wall Street lower Wednesday as the wind came out of the latest rally, with traders jolted by the downgrade of US sovereign debt, soft economic data and concerns about elevated valuations.
Traders have been cheered by pledges from Chinese officials to unveil measures to boost the flagging economy

Asia Joins Wall St Rally On US Rates, China Hopes

Markets rallied Monday, tracing another bump on Wall Street, where investors cheered a further slowdown in US inflation that stoked optimism the Federal Reserve will not have to hike interest rates again.
The yen has been boosted by speculation the Bank of Japan will shift away from its ultra-loose monetary policy

Asian Markets Drop After Wall St Loss, Yen Rises Ahead Of BoJ

Equities fell Friday following a sell-off on Wall Street where forecast-beating data revived concerns the Federal Reserve could hike interest rates further, while speculation swirled that the Bank of Japan could be preparing to shift from its era of easy money.
All eyes are now on the Federal Reserve's policy decision later in the day

Stocks, Dollar Retreat Before Fed Rate Decision

Major stock markets mostly retreated Wednesday as a China-induced rally gave way to cautious trading ahead of a Federal Reserve policy decision, with fresh data reviving the possibility of more US rate hikes before the end of the year.
The Bank of Japan is facing calls to move away from its ultra-loose monetary policy as the yen weakens and inflation picks up pace

Markets Fluctuate As US Jobs Data Knocks Rate Hopes

Asian equities wobbled again Friday at the end of a draining week as fresh US jobs data put revived bets on two more Federal Reserve interest rate hikes, adding to ongoing worries about China's economy.