WASHINGTON: Large US banks reported a round of solid quarterly profits Friday, but cautioned of rising recession risks as the economy absorbs higher inflation and a dramatic shift is central bank policy.

LONDON: Britain’s new finance minister on Saturday warned of looming tax hikes as he admitted to “mistakes” made in a disastrous budget that still threatens to bring down Prime Minister Liz Truss.

KUWAIT: Union of Investment Companies (UIC) received a delegation from the Turkish Embassy and discussed means of broadening economic collaboration between Kuwait and Turkey and explored possibilities of expanding joint cooperation between the countries in the domains of trade and investment.

KUWAIT: In its ongoing effort to meet its customers’ needs by introducing new innovative solutions and banking products with plenty of added value benefits, Kuwait International Bank (KIB) announced the launch of its newest account, Al Dirwaza – an investment saving account based on the Wakala investment principle, where the expected profits dispersed on monthly basis in addition to draws on cash prizes throughout the year.

Virtual cars whizz by with engines roaring, as 26 drivers vie for the top spot at an online tournament in Jordan — many dreaming one day of transitioning to real racers.

Astana: Russian President Vladimir Putin on Thursday told his Turkish counterpart Recep Tayyip Erdogan that Moscow would consider developing a “gas hub” in Turkey, with Russia’s supplies to Europe disrupted by Ukraine-related sanctions and leaks at key pipelines.

New York: US inflation jumped more than expected in September, according to government data released Thursday, in the latest sign that pricing pressures have become more intractable despite aggressive central bank action.

MOSCOW: In his brand new co-working space in Chelyabinsk, a city in central Russia, entrepreneur Maxim Novikov is counting the empty seats.

PARIS: The French government on Thursday ordered more striking workers back to a fuel depot in northern France after talks to end a three-week strike stalled, saying petrol shortages were taking too big a toll on the economy.