WASHINGTON: The International Monetary Fund slightly lowered its outlook for the global economy on Tuesday, while predicting that most countries will avoid a recession this year despite economic and geopolitical concerns.

ABU DHABI: Growth in the Gulf Cooperation Council (GCC) countries is expected to decelerate from 7.3 percent in 2022 to 3.2 percent in 2023, driven by the expected decline of oil prices from the highs reached in 2022, according to forecasts by World Bank economists.

CAIRO: Egypt’s annual urban inflation rose last month to its highest level in six years, mostly on the back of soaring food prices linked to the decline in the value of the local currency, state statistics agency Capmas said on Monday.

WASHINGTON: The World Bank and International Monetary Fund’s spring meetings get underway later this week with an ambitious reform and fundraising agenda likely to be overshadowed by concerns over high inflation, rising geopolitical tension and financial stability.

KUWAIT: Kuwait’s economy is expected to slow down in 2023, after performing strongly in 2022, and stabilize over the medium term.

KUWAIT, April 10 (KUNA) -- Exchange rate of the US dollar against the Kuwaiti Dinar on Monday steadied trading at KD 0.306, as well as the Euro trading at KD 0.333, maintaining Sunday's rates.

KUWAIT, April 9 (KUNA) -- Exchange rate of the US dollar against the Kuwaiti Dinar on Sunday steadied at KD 0.306 and Euro at KD 0.333, maintaining rates of the past Thursday.

KUWAIT, April 9 (KUNA) -- Gold prices closed at USD 2,007 per ounce in last week's trades following a series of profit making operations that coincided with the extraordinary rise of prices on Tuesday.

KUWAIT: As part of its ongoing digital transformation plans and its 2025 strategy, that aims to consolidate Gulf Bank’s leading position as the Kuwaiti Bank of the Future, Gulf Bank has announced the first drive-thru Interactive Teller machine (ITM) and ATM service in its Sharq branch on Ahmed Al-Jaber Street.