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Small decrease in world food prices in April is a welcome relief – FAO
The UN Food and Agricultural Organization (FAO) reports that world food prices decreased at the end of April after reaching an all-time high in March amid the conflict in Ukraine. In…
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Citigroup Inc employee error wiped out $315 billion from Europe stocks
After a sudden 8% decline in Swedish stocks, Citigroup Inc. said its London trading desk caused a flash crash in Europe that sent shares across the continent tumbling. A trader at the…
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Manufacturing in China continues to deteriorate as lockdowns persist
A survey released on Saturday showed that the manufacturing sector in China fell to a six-month slump in April due to lockdowns that were carried out in Shanghai and other manufacturing…
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Dow plunges 900 points, Nasdaq suffers worst month since 2008
The US stock market plummeted on Friday, with the Nasdaq marking its worst month since October 2008 and the S&P notching its worst month since March 2020 at the onset of the Covid…
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Lebanon inflation at world record 208 percent, worse than Zimbabwe and Venezuela
The annual inflation rate in Lebanon is the highest in the world according to recently announced Bloomberg data. As the financial meltdown in the Middle East nation worsens, Lebanon's…
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Arab Monetary Fund signs MoU with African Export-Import Bank
Arab Monetary Fund (AMF) and African Export-Import Bank (Afreximbank) signed a Memorandum of Understanding (MoU) to set the groundwork for cooperation and interoperability between Buna,…
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Iraq leads Arab countries in GDP growth due to oil price surge – World Bank
According to a World Bank report, Iraq ranks higher than all Arab countries in terms of GDP growth in 2022 with 8.9 percent, exceeding the rest of the Arab countries, including Qatar,…
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Global finance meeting focuses on conflict-driven food insecurity
The International Monetary Fund (IMF) and the World Bank, which are meeting in Washington and are grappling with the impact of the Russian conflict with Ukraine, are focusing on the…
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Iraq has the largest sulfur reserves in the world
The Iraqi Ministry of Industry and Minerals said in a statement on Tuesday that Iraq ranks first in the world for sulfur reserves, noting in particular that more than 400 million tons…
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Arab finance ministers meet in Jeddah to expand cooperation
Jordanian Finance Minister Mohammad Al-Ississ discussed ways to enhance bilateral cooperation in the areas of finance, tax and customs with Saudi Finance Minister Mohammad Al-Jadaan. In…
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