Khalid Al-Falih, Saudi Arabia's investment minister, during the Bloomberg New Economy Forum in Singapore, on Wednesday, Nov. 8, 2023. Bloomberg | Bloomberg | Getty ImagesSaudi Minister of Investment Khalid al-Falih pushed back against skepticism over the country's economic diversification plan, as Riyadh touts "green shoring" investment opportunities to woo foreign financing."There...
Category: Economy
Job openings fell more than expected in July in another sign of labor market softening
Job openings slumped to their lowest level in 3½ years in July, the Labor Department reported Wednesday in another sign of slack in the labor market.The department's closely watched Job Openings and Labor Turnover Survey showed that available positions fell to 7.67 million on the month, off 237,000 from June's...
The Fed’s preferred inflation indicator is out Friday. Here’s what to expect
A customer shops at a supermarket on August 14, 2024 in Arlington, Virginia. Sha Hanting | China News Service | Getty ImagesFederal Reserve officials will get the latest look at their favorite inflation indicator Friday, a data snapshot that could influence the September rate decision even as policymakers appear to have...
A recession is coming in the U.S., and ‘a few rate cuts’ won’t prevent it, says strategist
An Aldi supermarket in Alhambra, California, US, on Thursday, June 27, 2024. Eric Thayer | Bloomberg | Getty ImagesContrary to what many believe, investment research firm BCA Research sees that the economy is on the cusp of a recession, and the predicted upcoming U.S. Federal Reserve rate cuts will not be...
No longer a financial reservoir? Saudi Arabia’s spending confirms clear shift in strategy
Riyadh, Saudi Arabia.Xavierarnau | E+ | Getty ImagesSaudi Arabia is moving full steam ahead with its focus on domestic investment — and with that, higher requirements for foreigners coming to the kingdom to take capital elsewhere.The kingdom's $925 billion sovereign wealth fund, the Public Investment Fund, saw its assets jump...