Reuters US Economy

By Yousef Saba, Pesha Magid and Federico Maccioni RIYADH (Reuters) -Saudi Arabia is “doubling down” on its multi-billion dollar plan to overhaul its economy and cut the kingdom’s dependence on oil rents, the finance minister told an investor summit in Riyadh on Wednesday. The government is investing heavily in infrastructure works such as the vast …

Saudi Arabia pushes ahead with economic transformation, minister says Read More »

By Ateeq Shariff (Reuters) – Stock markets in the Middle East ended mixed on Wednesday, while the Qatari index tumbled ahead of a constitutional amendment referendum. Saudi Arabia’s benchmark index lost 0.4%, weighed down by a 1.8% fall in the ACWA Power Company, while Saudi Awwal Bank retreated 3%. Dubai’s main share index gained 0.5%, …

Gulf bourses end mixed, Qatar retreats ahead of referendum Read More »

By Kevin Yao and Ziyi Tang BEIJING (Reuters) – China’s planned fiscal package targets damaged property and local government balance sheets that weigh on the economy and fuel deflationary pressures, thus acting as a stabiliser rather than the instant growth booster markets craved. Larger-than-expected monetary stimulus last month fuelled unfettered investor speculation about a complementing, …

Analysis-China’s looming fiscal package set to stabilise rather than boost growth Read More »

OTTAWA (Reuters) -The Bank of Canada is starting to see the impact of its four rate cuts so far this year and expects to gather more evidence in the months ahead, Governor Tiff Macklem said on Tuesday. The central bank last week cut its key benchmark rate by 50 basis points to 3.75%, its first …

Bank of Canada says it is starting to see impact of recent rate cuts Read More »

By Ateeq Shariff (Reuters) – Most stock markets in the Gulf ended higher on Tuesday as a slew of corporate earnings lifted investor sentiment, although regional tensions limited gains. Saudi Arabia’s benchmark index edged 0.1% higher, helped by a 1.4% rise in Al Rajhi Bank and a 3.1% increase in Saudi Arabian Mining Company. Elsewhere, …

Most Gulf markets gain on earnings; geopolitics weigh Read More »

By Jamie McGeever ORLANDO, Florida (Reuters) -With just over two months left in 2024, the S&P 500 is poised to post its biggest annual gain this century. Whether it achieves this remarkable feat will likely be determined in the next two weeks. Over the last 10 months, markets have faced elevated interest rates, heightened bond …

S&P 500 counts on final ‘Mag 7’ push for best year this century: McGeever Read More »