Europe

Saudi Arabia, Estonia sign MoU to advance transportation technologies

The deal seeks to harmonize policies and legislation, and facilitate expertise exchange to address transport and logistics challenges

U.K. second largest foreign investor in Saudi Arabia with $16 billion in investment shares

Saudi minister highlights the Kingdom's status as the fastest-growing economy over the past six years

Stress in home loans manageable despite high rates: ECB

ECB's review shows lenders were not adequately weighing up risks before granting a mortgage

$3.7 billion Saudi investments set to boost North East England’s economy, generate 2,000 jobs: U.K. Official

An Education Task Force will be also established to promote cooperation in higher education

‘Choose France’ summit attracts $16.2 billion in investments, a record high

Spain's FertigHy pledges a 1.3 billion euro investment in a low-emission plant in northern France

Germany’s commercial property prices down 9.6 percent in Q1 2024: Report

In Q1 this year, residential property prices declined 4.3 percent

U.K. public sector productivity declines 2.3 percent in Q4 2023

Economists caution that the poor performance of the NHS is exerting negative repercussions on the broader economy

Eurozone’s manufacturing downturn continues to cool in April, says PMI

Greece, Spain and the Netherlands all registered growth as Germany and Austria marked declines

U.K.’s GDP growth to remain sluggish at 0.4 percent in 2024: OECD

Unemployment to steadily increase to 4.7 percent by 2025 as U.K. labor market cools

Germany’s economy expands 0.2 percent in Q1 2024

Germany's seasonally adjusted jobless rate remained steady at 5.9 percent

Eurozone economy expands 0.3 percent in Q1 2024, inflation to remain stable at 2.4 percent

Economic expansion in Germany, Spain and Ireland propelled eurozone's economic growth

FDI into U.K.’s financial services sector declines 50 percent: Report

Asset management emerged as the sector attracting the largest sources of FDI

UAE, Ukraine finalize CEPA terms to increase non-oil foreign trade

Non-oil trade between the UAE and Ukraine amounted to $385.8 million in 2023

Russia’s central bank maintains 16 percent interest rate, raises inflation forecast

The central bank raised inflation forecast to 4.3-4.8 percent, up from 4-4.5 percent

Eurozone lending stagnates in March, ECB rate stance deters borrowers, lenders

This data supports the ECB's plan to start cutting eurozone interest rates in June after inflation falls slightly above its 2 percent target

UAE and Austria discuss strategic partnership developments, boosting cooperation

The UAE-Austria non-oil trade volume grew 18 percent YoY, hitting $1 billion in the first nine months of 2023

U.K. retail sales slide to lowest since 2020 in April

Economists attributed the sharp decline to the earlier timing of the Easter holidays this year

ADGM, Hacken partner to set new benchmarks for blockchain security and compliance

The agreement seeks to develop security standards and on-chain monitoring solutions within ADGM's DLT Foundations framework

Greece’s economy expected to grow by 2.1 percent in 2024, new report reveals

Tourism boosts country’s economy, but lower exports and consumption weigh on growth

ECB stays committed to multiple rate cuts despite Fed’s caution, global uncertainty

Officials highlighted that the ECB's decisions hinge on incoming data, especially regarding wages, profits, and productivity

ECB signals potential June interest rate cut despite rising oil prices, weaker euro

ECB ready to adapt monetary policy stance if current trends persist