World News: Economic News
WFP warns that time is running out to prevent famine in the Darfur region of western Sudan
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Geneva, May 04, 2024 (LANA) - The United Nations World Food Program has warned that time is running out to prevent famine in the Darfur region, western Sudan, especially with the escalation of fighting in the city of El Fasher in the region.The program said in a statement on Friday, "Time is running out to prevent famine in Darfur, as the escalation of clashes (between the army and the Rapid Support Forces) in the city of El Fasher, the capital of North Darfur state (one of the five states... Read more
Al-Kabir meets with the President of the Asian Infrastructure Investment Bank.
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Washington, April 20, 2024 (LANA) - The Governor of the Central Bank of Libya, Al-Siddiq Al-Kabir, met in Washington, DC, yesterday, Friday, with the President of the Asian Infrastructure Investment Bank, “Jin Licon,” in the presence of the delegation accompanying Al-Kabir. The Asian official expressed his happiness with the State of Libya joining as a shareholder in the bank through the Central Bank of Libya, and their readiness to study financing strategic projects and... Read more
Oil prices rise amid fears of escalating tension in the Middle East.
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Singapore, April 12, 2024 (LANA) - Oil prices rose in trading today, Friday, amid fears of escalating tension in the Middle East region, and its impact on crude supplies. Brent crude oil futures rose 0.81% to $90.47 per barrel. As well as, the US West Texas Intermediate crude futures increased by 0.99% to $85.86 per barrel.= ... Read more
OPEC expects strong demand for fuel in the summer months.
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London, April 11, (LANA) - The Organization of the Petroleum Exporting Countries (OPEC), expected on Thursday, strong demand for fuel in the summer months and held to its expectations for relatively strong growth in global demand for oil in 2024.OPEC added in a monthly report, that global demand for oil will increase by 2.25 million barrels per day in 2024 and by 1.85 million barrels per day in 2025. OPEC said in the report, "Despite some downside... Read more
IMF reveals that global economic growth will decline to only 2.8 percent by 2030.
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Washington, April 10, 2024 (LANA) - The International Monetary Fund revealed on Wednesday that global economic growth will decline to only 2.8 percent by 2030, a full percentage point lower than the historical average.The IMF stressed the need to undertake major reforms to enhance productivity, and to take advantage of technology tools such as artificial intelligence, to avoid this decline. This came within a chapter of the Fund’s report on the future... Read more
