Inflation at its highest level in 40 years has made hawks of nearly all Fed policymakers. It will take two years for inflation to fall to the central bank’s 2% target, a Cleveland Fed official said on Thursday. Mester said she was not predicting a recession despite slowing growth. Cleveland Federal Reserve Bank President Loretta … Read more
RIYADH: Saudi crude oil exports and production went up in October to reach their highest levels since April 2020, Arab News quoted data released by Jodi. Saudi crude oil exports grew by 317,000 barrels/day to hit 6.83 million bpd. This corresponded to a monthly 5 per cent increase from 6.52 million bpd in September. In annual terms, … Read more
RIYADH: Saudi industrial production expanded by an annual rate of 7.7 per cent in October to reach its highest level since April 2020, Arab News quoted data published by Gastat, as showing. Jumps in the output of the mining and quarrying sector were mainly responsible for the expansion as it went up by 9.1 per … Read more
