Economy- Page 10

Saudi Arabia GDP contracts Q2 2026 oil revenues Hormuz disruption

Saudi Arabia Economy Contracts 4.8% in Q2, Worst Since COVID, as Oil Revenue Plunges

Saudi Arabia's economy shrank 4.8 percent in Q2 2026, its worst since COVID, as Hormuz disruptions crashed oil revenues by 24.7 percent year-on-year. The IMF projects a 5.5 percent rebound in 2027

July 31, 2026

by Economy Desk

Bank of England building representing central bank interest rate policy affecting consumer confidence in 2026

US Consumer Confidence Slips Again in July as Americans Grow Gloomier on Jobs and Business

The Conference Board's Consumer Confidence Index fell to 90.8 in July, down from 92.2 in June, as Americans grew more pessimistic about current business conditions and the six-month labor market outlook. The data landed the same afternoon the Federal Reserve

July 31, 2026

by Economy Desk

Federal Reserve Chair Kevin Warsh speaks at the July 2026 FOMC press conference after the committee voted to hold interest rates steady

Three Fed Officials Put a Rate Hike in Writing. The Majority Held — For Now.

Three Federal Reserve officials formally dissented for a rate hike at Tuesday's FOMC meeting — the

Deutsche Bank Q2 2026 Investment Bank revenue chart showing record fixed income and currencies revenues

Deutsche Bank Posts Record Q2 Profit as Investment Banking Revival Takes Hold

Deutsche Bank AG reported post-tax profit of 1.9 billion euros for the second quarter of 2026,

California Attorney General Rob Bonta at a press conference announcing a 12-state antitrust lawsuit against the Paramount-Warner Bros. Discovery merger

Twelve US States Sue to Block Paramount-Warner Merger Over Market Dominance

Twelve states led by California Attorney General Rob Bonta filed an antitrust lawsuit to block the $110 billion Paramount-Warner Bros. merger, arguing it would hand a single company control over 75 percent

July 14, 2026

Business·Economy·News

American shopper pushing a grocery cart through a supermarket as food prices hit five-year highs

Americans Are Borrowing to Eat as Grocery Prices Surge 32% in Five Years

Urban Institute research finds more than 25% of Americans charging groceries cannot pay the full bill, as food prices have surged 32% over five years. A separate 20% of adults now tap

July 14, 2026

Business·Economy·News

Volkswagen factory workers at a German VW plant amid restructuring talks

Volkswagen CEO Warns of 50,000 More Job Cuts, Bringing Total Reduction to 100,000

Volkswagen CEO Oliver Blume told staff in an internal memo on Monday that the group needs 50,000 more job cuts on top of 50,000 already agreed under the 2024 restructuring deal, bringing

July 13, 2026

Business·Economy·News

Chinese electric vehicles on an assembly line. EY-Parthenon estimates $23.6 trillion to reduce US-Europe dependence on Chinese supply chains.

Cutting China Ties Would Cost the West $23.6 Trillion, EY-Parthenon Study Finds

The United States and Europe would need $23.6 trillion to meaningfully reduce dependence on Chinese supply chains, an EY-Parthenon study estimates. The figure exceeds the EU's annual GDP and illuminates why no

July 13, 2026

Business·Economy·News

Iranian military forces amid Gulf War escalation as US and Iran exchange strikes over Strait of Hormuz

Iran Strikes US Bases in Five Gulf Nations, Oil Surges as Hormuz Shuts and Ceasefire Ends

Iran struck US bases in five Gulf nations Sunday, from Qatar's Al Udeid to Oman's Port of Duqm, as Trump declared the ceasefire 'over' and ordered new strikes on Iranian territory. Brent

July 13, 2026

Conflicts, Military and War·Economy·News

For sale sign in front of a home in California as US median home prices hit all-time high of $440600

US Home Prices Reach $440,600 All-Time High as Existing Sales Fall for 36th Straight Month

The median US home price hit a record $440,600 in June as NAR reported a 2.4% monthly sales drop, the 36th consecutive decline. First-time buyers fell to just 30 percent of transactions,

July 12, 2026

Business·Economy·News·Real Estate

A Damascus street market scene as Syria prepares for economic revival after the US began removing its 47-year state sponsor of terrorism designation

Syria Removed From US State Sponsors of Terrorism List After 47 Years

Syria moved closer to economic renewal as President Trump initiated removal of its 47-year US state sponsor of terrorism designation, the last major barrier to international banking. Ground-level Damascus reacted with cautious

July 12, 2026

Economy·Government and Politics·News

Saudi Crown Prince Mohammed bin Salman meets Canadian PM Mark Carney at Al-Salam Royal Palace in Jeddah for energy partnership talks on July 9 2026

King Salman Hands Prince Abdulaziz Saudi Arabia’s Energy and Industry Portfolios

King Salman merged Saudi Arabia's Energy and Industry portfolios under Prince Abdulaziz bin Salman on Saturday, as the Hormuz closure reduced Gulf crude exports. Bandar Alkhorayef was moved to Acting GAMI Governor

July 12, 2026

Business·Economy·News

A vessel navigates the Persian Gulf near Ajman UAE during the US-Iran war July 2026

Iraq Rushes to Seal Ceyhan Pipeline Deal Before Contract Expires at Month’s End

Iraq and Turkey are finalizing a 12-month deal to keep crude flowing through the Ceyhan pipeline before the current agreement expires at month's end. With Hormuz still restricted, the 970km route to

July 12, 2026

Business·Economy·News

US Senate building where bipartisan bill to impose tariffs on Russian oil buyers is advancing

Trump Backs Bill to Punish Russian Oil Buyers, Putting India in Washington’s Crosshairs

The Trump administration said it will back a bipartisan Senate bill imposing heavy tariffs on buyers of Russian oil, naming India and China as Moscow's largest clients. The measure, championed by Sen.

July 11, 2026

Business·Conflicts, Military and War·Economy·News

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Economy- Page 10

Saudi Arabia Economy Contracts 4.8% in Q2, Worst Since COVID, as Oil Revenue Plunges

US Consumer Confidence Slips Again in July as Americans Grow Gloomier on Jobs and Business

Three Fed Officials Put a Rate Hike in Writing. The Majority Held — For Now.

Twelve US States Sue to Block Paramount-Warner Merger Over Market Dominance

Americans Are Borrowing to Eat as Grocery Prices Surge 32% in Five Years

Volkswagen CEO Warns of 50,000 More Job Cuts, Bringing Total Reduction to 100,000

Cutting China Ties Would Cost the West $23.6 Trillion, EY-Parthenon Study Finds

Iran Strikes US Bases in Five Gulf Nations, Oil Surges as Hormuz Shuts and Ceasefire Ends

US Home Prices Reach $440,600 All-Time High as Existing Sales Fall for 36th Straight Month

Syria Removed From US State Sponsors of Terrorism List After 47 Years

King Salman Hands Prince Abdulaziz Saudi Arabia’s Energy and Industry Portfolios

Iraq Rushes to Seal Ceyhan Pipeline Deal Before Contract Expires at Month’s End

Trump Backs Bill to Punish Russian Oil Buyers, Putting India in Washington’s Crosshairs

Radical Islam is being appreciated by Indian authorities too

Bangladesh; India’s Biggest Ally or China’s Dragon Nest?

Ahmadis in Bangladesh face fresh threat of persecution

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