Economy

DUBAI: Bahrain, which last year boosted state spending, urgently needs to reform its economy to stop its debt burden becoming unsustainable, The International Monetary F

WASHINGTON: International Monetary Fund chief Christine Lagarde has decried rising income disparity, noting its harmful effect on global economic growth.

NEW YORK: JPMorgan Chase & Co., one of the biggest customers of Bloomberg LP, has sent a formal legal request asking the financial data and news company to provide details of what bank informat

Over the past three months, the global economic recovery from last year's slowdown has lost momentum, with several economies still facing significant challenges and unlikely to quickly resume &

WASHINGTON: Google’s Android mobile system boosted its lead in the global smartphone market over Apple in early 2013, while Microsoft’s Windows edged into third place, a survey showed.

LONDON: British government officials said BP had not sought Prime Minister David Cameron’s help in reducing compensation claims for its role in the disastrous 2010 oil spill in the Gulf of Mexico.

ROME: The global luxury market will grow by a relatively modest 4-5 percent in turnover this year compared to the 10 percent expansion seen in 2012, a study released by research consultancies Bain &am

MOSCOW: International leaders are moving closer to taking action on corporate tax avoidance, despite challenges, a top official at the Organization for Economic Co-operation and Development (OECD) sai

Saudi Arabia will continue to make the most of the competitive advantage presented by its hydrocarbon reserves despite rising US shale oil production, says a Riyadh-based analyst.

Saudi banks continue to support the macroeconomic conditions by providing the necessary financing for local businesses.