22 August: Investment Bank Raises Forecast On Back Of Soaring Gas Prices UK inflation could peak at a near 50-year high of 18.6% early next year because of soaring wholesale gas prices, according to the latest forecast from Citigroup, writes Andrew Michael. The investment bank says, with gas prices jumping by a quarter last week,...Read More

MUMBAI:The Indian rupee depreciated 11 paise, to close at 79.87 against the US dollar on Monday.At the Interbank foreign exchange market, rupee ended at 79.87, as against its 79.76 close on the previous trading session against the US dollar. “Rupee trade in range of 79.70-79.90 and closed higher by 0.09 points against the dollar on...Read More

Aug 22 (Reuters) – For workers hoping to hold onto wage gains and investors hoping to hang onto profits, Federal Reserve Chair Jerome Powell’s remarks this week to a central banking conference in Wyoming will lay out what he expects to happen in an economy battling inflation while also, some fear, edging towards a recession....Read More

The $850bn (£720bn) global advertising market is facing the prospect of a “car crash” next year as the cost of living crisis forcing households to drastically cut back on spending triggers companies to consider slashing their marketing budgets. The advertising industry remains bullish about its prospects – the football World Cup is forecast to keep...Read More

Twitter, Inc. TWTR is reportedly scaling back annual bonuses for employees amid the uncertain economic condition that is eating away at their bread-and-butter ad revenue. What Happened: The social media platform told employees in an email on Friday that their typical annual bonuses will be scaled back by as much as 50%, the New York Times...Read More

Gold rose for the fourth consecutive week and scaled the pivotal $1800/oz level; however, the bulls lost confidence and the metal registered its first decline in five weeks. Gold ended the week with a sharp 3 per cent decline. The trend in the US dollar has been one of the key price determining factors for...Read More

Gold price outlook: After four consecutive weeks of gains, the gold rally paused and prices gave way to selling pressure while facing resistance around the psychological $1,800 per ounce mark. In the week gone by, MCX gold rates corrected more than 2 per cent whereas spot gold price dipped over 3 per cent. It was...Read More

Almost six months after Vladimir Putin ordered Russian troops into Ukraine, the extent of the damage to the European economy is becoming clear. The red lights of recession are flashing. The eurozone’s big four economies – Germany, France, Italy and Spain – have all had their growth forecasts for 2023 downgraded by the International Monetary...Read More

With days left before Prime Minister Kyriakos Mitsotakis’ keynote speech at the Thessaloniki International Fair and the submission of a supplementary budget, the Ministry of Finance is increasingly convinced that economic growth in 2022 will reach 4% instead of the original estimate of 3.1%. This is in line with the European Commission’s updated growth estimate...Read More

KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on August 20, 2022: Buying: Rs 216.00 to the US Dollar Selling: Rs 218.00 to the US Dollar The buying rate means an exchange company or a bank buys foreign currency from a...Read More