WASHINGTON: Hiring in the United States picked up pace in April and unemployment returned to a multi-decade low, government data showed Friday, signaling labor market resilience despite higher interest rates to tackle inflation.

FRANKFURT/BERLIN: German industrial orders suffered their biggest fall in March since 2020, official data showed Friday, fuelling fears that Europe’s biggest economy is entering a sharp downturn.

PARIS: Chinese cut-price fast-fashion giant Shein defended its business model in an interview with AFP, saying demand-based production accounted for its low prices and not forced or cheap labor.

CAIRO, May 6 (KUNA) -- Egyptian Finance Minister Dr. Mohammad Maait said on Saturday the government is proceeding with execution of a package of reforms to boost the economy in the face of "external shocks.

RAMALLAH: The World Bank warned the Palestinian economy faces a “bleak” outlook as Zionist entity continues its blockade of the Gaza Strip and has increased restrictions on the occupied West Bank.

WASHINGTON: The US Federal Reserve raised its benchmark lending rate for a tenth time Wednesday in a move that could be the last in the current cycle if the economy cools sufficiently.

DUBAI: Most of the central banks of the Gulf region including the UAE, Saudi Arabia, Bahrain, Oman and Qatar raised their benchmark borrowing rates after the US Federal Reserve increased its key interest rate to tame inflation and maintain price stability.

ISLAMABAD: Pakistan’s year-on-year inflation hit its highest-ever level of 36.42 percent in April, after the government introduced new taxes and raised fuel prices to try to meet International Monetary Fund (IMF) conditions for a crucial bailout.

KUWAIT: During Kaspersky’s 8th annual Cyber Security Weekend – META 2023, held in Almaty, Kazakhstan, the company’s experts discussed the biggest cyberthreats specifically targeting governments, enterprises, businesses and industrial organizations, while forecasting the trends that will influence the cybersecurity landscape in the future.