The U.S. Federal Reserve is expected to hike its short-term interest rate this week. The move is seen as a sign of confidence in the economy, but it could put the brakes on some sectors of the economy. Federal Reserve Chairman Janet Yellen had planned to raise the benchmark rate earlier in the fall but delayed the move after financial markets tumbled when China devalued its currency. ARN's US Correspondent Mary MacCarthy has the details.
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Oil prices surge to highest since 2022 at over $119 a barrel
Oil prices surged over $119 a barrel, hitting levels not seen since mid-2022, on Monday as some major producers cut supplies and fears of prolonged shipping disruptions gripped the market due to the expanding US-Israeli war with Iran.
HSBC CEO says confidence in GCC remains despite regional developments
HSBC on Monday expressed confidence in the Gulf Cooperation Council (GCC) members' economic prospects as the region and the wider Middle East brace for the economic shock from the U.S.-Israeli conflict with Iran.
Silal, National Agricultural Centre partner to boost UAE food security
Silal, an Abu Dhabi agri-food and technology company, has announced the expansion of its operations in Ras Al Khaimah in collaboration with the National Agricultural Centre.
No decision yet on G7 releasing oil stocks, France's Lescure says
G7 countries have not made a decision yet on the potential release of emergency oil stocks in the wake of the U.S.-Israeli conflict with Iran, France's Finance Minister Roland Lescure said on Monday.
China says US talks vital as Trump targets Beijing's key partners
U.S.-China dialogue is vital to preventing globally damaging miscalculations, China's top diplomat said on Sunday, ahead of a highly anticipated summit this month between leaders Xi Jinping and Donald Trump.
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