Top Story

Saudi Arabia opens to settling trade in other currencies than the US dollar, the country’s finance minister said, in one of the clearest signs yet that the oil-rich kingdom is seeking to strengthen its relations with crucial trade partners and diversify away from the greenback. “There are no issues with discussing how we settle our trade arrangements, whether it is in the US

War and trade tensions trump cyber-fears for 2023, according to the Depository Trust & Clearing Corporation’s (DTCC) annual Systemic Risk Barometer Survey. Almost 70% of respondents cited geopolitical risks and trade tensions as a top threat (up from 49% last year), with inflation (61%) a close second, (up from 34% last year). Respondents cited unknowns around how long inflationary pressures may last,

The director of the International Monetary Fund (IMF) thinks that a harsh winter and an energy crisis may cause social unrest in Europe, amid a dire economic situation and rising fears of a recession. “There is certainly fear of recession in some countries, or even if it is not recession, that it would feel like recession this winter,” Kristalina Georgieva said on

Sharply rising inflation, political unrest, trade disruptions from Brexit and COVID, social distress and an energy crisis, are all making the British economy appear more like one from the developing world rather than the sixth largest in the world, according to a research note from Christopher Dembik, head of macro analysis at Saxo Bank. “What Brexit has not done by itself, Brexit