Economy



Citi raises S&P 500 years-end target to 8,100 on strong earnings and AI growth outlook

Citigroup has raised its year-end forecast for the S&P 500 index, reflecting stronger-than-expected corporate earnings and continued optimism around artificial intelligence-driven growth in the global economy. The investment bank now expects the benchmark index to reach 8,100 points by the end of......

Gold prices fall to $4,365 as analysts stay bullish on rebound

Gold prices have retreated sharply from recent highs, with spot and futures contracts trading around $4,365 per ounce in early June 2026. The metal previously reached a record above $5,400 in January before entering a sustained correction phase that has now lasted three months. The decline has been driven......

Iraq warns of financial catastrophe as oil revenues collapse amid Iran conflict

Iraq has issued a stark warning over its economic stability as oil revenues fall sharply during the ongoing regional conflict involving Iran. Foreign minister Fuad Hussein said the country could face a financial catastrophe if disruptions in the Strait of Hormuz persist due to military escalation involving......

Goldman Sachs warns of sharp global oil demand decline

Goldman Sachs has warned that global oil demand fell more sharply than previously expected, citing an estimated reduction of 4 to 5 million barrels per day in April. The decline is linked in part to disruptions in maritime flows through the Strait of Hormuz, which temporarily reduced global consumption......

Rosneft chief says U.S. energy firms gain from Strait of Hormuz disruption

The disruption of maritime traffic through the Strait of Hormuz continues to fuel debate over the future of global energy markets, with Russian oil executive Igor Sechin arguing that American energy producers have emerged as the primary beneficiaries of the crisis. Speaking at the St. Petersburg International......

Africa pushes for greater influence in shaping its future

African leaders, policymakers, and development experts are increasingly advocating a model of growth that places African priorities at the center of international decision-making. Discussions at the Paris Peace Forum Spring Meetings in Rabat focused on how the continent can respond to geopolitical tensions,......

Royal Air Maroc expands fleet with Embraer E190 delivery

Royal Air Maroc is preparing to strengthen its regional fleet with the addition of an Embraer E190 aircraft, marking another step in its ongoing capacity expansion strategy. The move is part of a wider effort to modernize operations and increase connectivity across domestic and regional routes. The......

United Kingdom projects oil at 100 dollars through 2028

The United Kingdom government expects global oil prices to remain near 100 dollars per barrel through 2028, even if a peace agreement is reached between the United States and Iran, according to internal projections. The assessment signals a prolonged period of elevated energy costs driven by slow recovery......

Oman suspends oil exports after Mina al Fahal explosion

Oman has halted crude loading operations at its Mina al Fahal export terminal following an explosion near its offshore mooring buoys, disrupting a key node in global oil supply chains. The incident has added new pressure to already strained energy markets, where supply disruptions across the Middle East......

India and United States move closer to first phase of trade agreement

India and the United States are accelerating efforts to finalize the first phase of a bilateral trade agreement, with both countries aiming to conclude negotiations by mid-July, according to India's Commerce Minister Piyush Goyal. Speaking on Friday, Goyal said officials from both sides have intensified......

Trafigura warns global oil supply loss deepens crisis

Global oil markets are facing severe disruption as major institutions warn of an accelerating supply shock linked to geopolitical conflict and restricted maritime flows. The International Energy Agency has cautioned that crude markets could enter a critical shortage phase within weeks if key transport......

Bitcoin falls to lowest level since February selloff intensifies

Bitcoin dropped to its weakest level since February on Wednesday as heavy selling from long-term holders and sustained outflows from spot exchange-traded funds extended a sharp market downturn. The cryptocurrency touched 61,300 dollars before stabilising near 63,000 dollars later in the session. The......

Iata set to slash airline profit outlook amid fuel shock

Global airline executives are gathering in Rio de Janeiro for a major industry meeting as the sector faces mounting pressure from a sharp rise in jet fuel costs linked to the war in Iran. The International Air Transport Association is expected to significantly cut its previous 2026 profit forecast of......

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