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Women working at a textiles factory in Izmir; Turkish manufacturing has been hit by rising costs and interest rates but economic growth is still anticipated

Turkish manufacturers waver on economic prospects

Turkey’s manufacturers are uncertain about the national economy’s prospects, with a report showing a slowing of new orders and an easing of output partly being offset by stronger inventory increases and expectations of a modest release from inflationary pressures.  The latest survey of Turkish manufacturers, conducted by Istanbul Chamber of Commerce and ratings agency Standard […]

The global economy has shown 'real resilience' said OECD secretary-general Mathias Cormann

OECD predicts modest growth but conflict risk remains

Global growth is holding up and inflation is falling, but conflict in the Middle East represents a significant near-term risk, the Organisation for Economic Cooperation and Development (OECD) has said. In its interim outlook published on Monday, the Paris-based organisation projected that GDP expansion worldwide would remain moderate at around 3 percent in 2024-2025. Energy […]

Masked and socially distanced pupils at a Saudi school in 2021. The OECD's Pisa tests show the impact of the pandemic on education

Saudi schools ‘doing better at maths but still lagging behind’

Saudi Arabia’s schools have improved in the past few years, but are still below the international average and a long way behind the best performers, according to the OECD. Teenagers from 81 countries were tested for the OECD Programme for International Student Assessment (Pisa), which published its 2022 report on Tuesday. The tests measured the […]

Crude oil drips from a well Taqa Kurdistan oil

Fossil fuel company valuations set to take a hit

The International Energy Agency (IEA) has urged the oil and gas industry to actively participate in the fight against climate change by investing more in clean energy, despite the fact the declining demand for fossil fuels will lead company valuations to decrease by up to 60 percent. The IEA predicts that global demand for oil […]

Palm Jebel Ali will add 91km to Dubai's coastline and provide homes for about 35,000 families

UAE’s overseas property tax may push rents up

The introduction of a tax on income from UAE property held by non-residents could cause rents to creep up as owners pass on the increment to tenants, experts have told AGBI.  “The rental market is based on supply and demand, so if there’s less supply and more demand at any point, landlords can ask for […]