Economy

German economy stagnates in 2nd quarter

The German economy exited from a recession in the second quarter of this year, posting no growth as household spending stabilized, according to preliminary data from the state statistics office on Friday. Germany's gross domestic product (GDP) flatlined in April-June compared to the previous three-month period, below the market forecast of 0.1% quarter-on-quarter growth, Destatis ...

10:25 Et July 28, 2023

China rolls over $2.4b loan to Pakistan

China rolled over a $2.4 billion loan to Pakistan maturing in the next two fiscal years, the South Asian nation's finance minister said on Thursday. "Chinese EXIM Bank ...

10:54 Et July 27, 2023

Zara founder Ortega's real estate fortune hit $20 bln in 2022

The investment firm of Spanish billionaire Amancio Ortega, the founder of fashion giant Inditex, on Thursday reported a 2.8 billion-euro jump in the market value of its real ...

10:50 Et July 27, 2023

India's Tata chooses UK for $5 billion Jaguar Land Rover gigafactory

India's Tata Group will build an electric vehicle battery plant in Britain to supply its Jaguar Land Rover factories, delivering a major boost for a car industry in ...

11:52 Et July 19, 2023

China’s economy misses growth forecasts, raising the odds of more support for its tepid recovery

China’s economic growth missed forecasts in the second quarter of the year, adding to worries over surging youth unemployment and a weak property sector and raising the likelihood ...

12:41 Et July 17, 2023

Moroccan delegation visits London to bolster economic partnership with UK

The General Confederation of Moroccan Enterprises (CGEM) conducted a mission to London on July 11-13, with the aim of further strengthening trade and investment relations between Morocco and ...

11:03 Et July 15, 2023

Morocco's economy should grow 3.4% in 2024, Minister says

Minister Fouzi Lekjaa, delegate of the Minister of Economy and Finance in charge of the budget, said on Friday in Rabat that based on the assumptions adopted, the ...

17:03 Et July 14, 2023

Oil prices set for second straight weekly gain after U.S. data

Oil prices rose on Friday and were on track for their second straight weekly gain, as resilient demand resulted in a larger-than-expected fall in U.S. oil stockpiles, offsetting ...

10:48 Et July 7, 2023

Turkish lira drops 7%, signalling move towards free market

Turkey's lira plunged 7% to a record low on Wednesday in its biggest daily selloff since a historic 2021 crash, a move traders said is a "strong signal" that Ankara is moving away from state controls toward a freely traded currency. The lira has come under increasing pressure since President Tayyip Erdogan was re-elected on ...

12:53 Et June 7, 2023

Washington: Morocco Warns of Fragmentation in Global Economy

Minister of Economy and Finance, Nadia Fettah, warned in Washington against the fragmentation of the global economy, recalling that Morocco rather advocates the strengthening of cooperation. Fettah, who ...

12:26 Et April 15, 2023
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