Saudi Arabia's economy returned to growth in 2024, with real gross domestic product increasing 1.3% compared to the previous year, preliminary government data released on Thursday showed, with non-oil sector activities lifting overall GDP.

The Federal Reserve held interest rates steady on Wednesday, just days after President Donald Trump called on the central bank to lower them. The announcement put the central bank on a potential collision course with Trump, though a longstanding norm of independence typically insulates the Fed from direct political interference.

The president says he wants Opec and Saudi Arabia to bring down the price of oil which he says is fuelling the Russia-Ukraine war.

President Donald Trump on Thursday said he will call for a lowering of U.S. interest rates, exerting pressure on the Federal Reserve despite a longstanding norm of political independence at the central bank.

The Federal Reserve on Wednesday will announce its latest decision setting the level of interest rates, just days after President Donald Trump called on the central bank to lower them. Investors widel

The Russian Foreign Ministry added that Sergey Lavrov and Prince Faisal bin Farhan Al Saud touched on practical steps to further enhance Russian-Saudi cooperation

The pressure from the president has not influenced the U.S. monetary policy, which considers the situation "balanced.". Just six days after Donald Trump demanded in Davos that central banks around the world lower interest rates,

The central banks in the six-nation Gulf Cooperation Council (GCC) have aligned with the US Federal Reserve to hold their interest rates steady. The Central Bank of the UAE will maintain its base rate on overnight deposit facility (ODF) at 4.

Saudi Arabia's economy returned to growth in 2024, with real gross domestic product increasing 1.3% compared to the prior year, showed preliminary government data released on Thursday.

U.S. stocks are poised to pull back slightly from record highs as caution prevails following President Trump's remarks on tariffs and trade. The dollar faces its largest weekly drop in two months, amid investor confidence in potential Federal Reserve rate cuts.

Ultimately, global markets will determine medium- and long-term interest rates and oil prices. The caveat for Trump is that politicians who try to circumvent markets eventually lose. The price discovery mechanism, unlike politicians and bureaucrats, can’t be suppressed, bought off or rendered inert for long.

The price for Gold stood at 333.27 Saudi Riyals (SAR) per gram, broadly stable compared with the SAR 333.32 it cost on Tuesday. The price for Gold was broadly steady at SAR 3,887.17 per tola from SAR 3,887.73 per tola a day earlier.