WASHINGTON: The Zionist entity war on Gaza is having a severe impact on the Palestinian economy, the World Bank said on Tuesday, adding that a sharp economic contraction is likely this year and next.

RIYADH, Dec 13 (KUNA) - The International Monetary Fund picked Wednesday Saudi Minister of Finance Mohammed Aljadaan to chair the International Monetary and Financial Committee (IMFC) for a term of three years, effective January 4, 2024.

WASHINGTON, Dec 13 (KUNA) -- The Federal Open Market Committee (FOMC) voted unanimously on Wednesday to keep the targeted range of the benchmark overnight borrowing rate unchanged between 5.25 percent and 5.5 percent for the third consecutive time.

NEW DELHI, Dec 13 (KUNA) -- World Association of Investment Promotion Agencies (WAIPA) CEO and Executive Director Ismail Ersahin congratulated Kuwait on Wednesday after being elected as vice president of the WAIPA Steering Committee.

CAIRO, Dec 13 (KUNA) -- Kuwait special pavilion at the eighth session of the (Food Africa 2023) exhibition in Cairo attracted the interest of food industry specialists and visitors interested in Kuwaiti products.

BEIRUT, Dec 13 (KUNA) -- An analytical study by Union of Arab Banks (UAB) showed that eight Kuwaiti banks have been ranked among the top 100 Arab banks in 2022.

LONDON, Dec 13 (KUNA) -- Official data showed, Wednesday, that British Grows Domestic Product (GDP) was unable to achieve any significant growth between August and October, raising fears that the local economy could enter a recession.

TOKYO, Dec 13 (KUNA) -- The Asian Development Bank (ADB) on Wednesday raised its economic forecast for developing Asia this year after robust domestic demand drove higher-than-expected growth in China and India.

TOKYO, Dec 13 (KUNA) -- Business confidence among major Japanese manufacturers improved for the 3rd straight quarter, reflecting a recovery in auto production, the Bank of Japan said Wednesday.