NEW YORK: Economic fears are roiling Wall Street, as worries grow that the Federal Reserve may have left interest rates elevated for too long, allowing them to hurt US growth.

BEIJING: China has issued a set of directives aimed at boosting household consumption, a weakness weighing on growth in the world’s second-largest economy, with the plan targeting sectors including child and elder care, and food and beverage.

KUWAIT: Gulf Bank held its investors webcast on Wednesday (31, July 2024) to present and discuss the Bank’s financial performance for H1 2024.

KUWAIT: As part of its ongoing efforts to engage with the community, Gulf Bank organized a new session in the “GB Masterclass” series, with approximately 20 young Red cardholders participating in a workshop focused on step-by-step painting of anime figures.

KUWAIT: Burgan Bank announced on Saturday the names of the Kanz account monthly draw winners, who will each take home a KD 2,000 cash-prize.

KUWAIT: Underscoring its pioneering role and corporate approach to fully integrate sustainability into the core of its business activities and operations, National Bank of Kuwait (NBK) has released its Sustainability Report for 2023, highlighting the key milestones achieved and contributions made towards implementing its Environmental, Social, and Governance (ESG) Strategy over the past year.

NEW YORK: Worries over tech earnings and a slowing US economy slammed the Nasdaq Composite index on Friday as it extended recent declines to fall 10 percent below its record high, confirming it was in correction territory.

WASHINGTON: The US unemployment rate jumped to near a three-year high of 4.3 percent in July amid a significant slowdown in hiring, heightening fears the labor market was deteriorating and potentially making the economy vulnerable to a recession.

WASHINGTON: More than 100 countries — including China, India, Brazil, and South Africa — face serious obstacles that could hinder their efforts to become high-income countries in the next few decades, according to a new World Bank study that provides the first comprehensive roadmap to enable developing countries to escape the “middle-income trap.”