ABU DHABI (Reuters) – The International Monetary Fund further lowered its GDP growth forecast for Saudi Arabia for 2024 to 1.5% and estimated growth to accelerate to 4.6% next year in its latest World Economic Outlook Report released on Tuesday. In July, the IMF lowered its GDP projections for Saudi Arabia’s 2024 GDP by nearly …
IMF lowers Saudi Arabia’s 2024 growth forecast to 1.5% Read More »
(Reuters) – A.O. Smith missed third-quarter revenue and profit estimates on Tuesday, hurt by lower sales of its water heaters in North America and China, sending its shares down more than 1% before the bell. The company’s revenue for the quarter ended Sept. 30 fell nearly 4% to $902.6 million compared with the previous year, …
A.O. Smith misses quarterly estimates on sluggish water heater demand Read More »
(Reuters) – Auto parts replacement provider Genuine Parts cut its 2024 earnings per share forecast on Tuesday, as third-quarter earnings per share missed estimates due to weakness in its industrial segment and market conditions in Europe. Shares of the company fell more than 9% in pre-market trading. Slower recovery in the European automotive aftermarket business …
Genuine Parts cuts 2024 earnings forecast on industrial business weakness; shares dip Read More »
JERUSALEM (Reuters) – All five members of the Bank of Israel’s monetary policy committee voted on Oct. 9 to leave the benchmark interest rate unchanged at 4.5%, minutes of the discussion showed on Tuesday. “In view of the continuing war, the monetary committee’s policy is focusing on stabilizing the markets and reducing uncertainty, alongside price …
Bank of Israel voted 5-0 to hold rates at October decision, minutes show Read More »
MADRID (Reuters) – There are not yet enough indications that the euro zone’s inflation could drift further down or up to change the European Central Bank’s central scenario for further rate cuts, ECB board member Jose Luis Escriva said in an interview with the Spanish newspaper Expansion on Tuesday. Escriva, who is also the governor …
By Liz Lee BEIJING (Reuters) – China’s third-quarter economic losses due to natural disasters, from super typhoons to floods, more than doubled from the first six months of 2024. Direct economic losses in July to September reached 230 billion yuan ($32.3 billion), according to Reuters calculations based on nine-month data released by the Ministry of …
China’s Q3 economic losses from natural calamities surge Read More »
WASHINGTON (Reuters) – Deputy U.S. Treasury Secretary Wally Adeyemo on Monday spoke with Palestinian Authority Prime Minister Mohammad Mustafa and they discussed security and economic stability in the West Bank, the Department of Treasury said. Adeyemo and Mustafa also discussed the Palestinian Authority’s efforts to improve its anti-money laundering and countering the financing of terrorism …
US Treasury official speaks to Palestinian Authority PM about economic stability Read More »
(Reuters) – Commercial insurer W R Berkley reported nearly a 10% rise in the third-quarter profit helped by strong returns in its investment portfolio. Insurers benefit in a higher interest rate environment because a significant portion of their investments is in bonds, leading to increased interest payouts. Additionally, equity markets has also been rallying due …
W R Berkley posts higher profit on strong investment performance Read More »
By Kopano Gumbi JOHANNESBURG (Reuters) – South Africa’s mid-term budget review later this month is expected to show healthier public finances, but economists say it might be too early to loosen the purse strings. Finance minister Enoch Godongwana is expected to present his first medium-term budget policy statement under South Africa’s new unity government on …
By Ateeq Shariff (Reuters) – Stock markets in the Gulf were mixed on Monday amid rising geopolitical tensions in the region, while investors await more companies to report quarterly results. Hundreds of Beirut residents fled their homes late on Sunday, as Israel prepared to attack sites linked to the financial operations of Lebanon’s Hezbollah group. …
Gulf bourses end mixed on regional tensions, Q3 earnings Read More »
