Category: Market

Washington: The International Monetary Fund (IMF) forecasted that the global economy is heading towards another year of steady but slow growth in 2024. This comes as the strength of the US economy is expected to outweigh the headwinds resulting from ongoing high inflation and weakened demand in China and Europe.

The IMF also projected a 3.2 percent real global Gross Domestic Product (GDP) growth rate for both 2024 and 2025, maintaining the same rate as in 2023.

It is worth noting that growth forecasts for 2024 have been revised upward by 0.1 percentage point from previous estimates in the January Global Economic Outlook report. This adjustment is largely attributed to the significant upward revision in growth expectations for the US economy.

Source: Qatar News Agency

Beijing, China’s gross domestic product (GDP) grew 5.3% year on year in the first quarter of 2024, data from the National Bureau of Statistics (NBS) showed Tuesday.

The country’s GDP reached 29.63 trillion yuan (about $4.17 trillion) during this period, the NBS data showed.

On a quarterly basis, the economy increased 1.6% in the first three months, it added.

China’s GDP grew 5.2% year on year last year and the country has targeted its full-year economic growth at around 5% for 2024.

Source: Qatar News Agency

Doha: The Qatar Central Bank (QCB) issued Government Bonds and Sukuk for tenors of two, three, five, and seven years worth QR 4.65 billion.

On its website, QCB said on Tuesday that the issuance of the treasury bills came as follows: QR 1.65 billion for two years tenor with a 5 percent interest rate, QR 1 billion for three years tenor for a 4.80 percent interest rate, QR 1 billion for five years tenor for a 4.75 percent interest rate, and QR 1 billion for seven years tenor for 5 percent rate. The offered bids reached QR 13.95 billion.

Source: Qatar News Agency

Jeddah: The Islamic Development Bank Group (IsDB) is set to hold its 2024 Annual Meetings and IsDB Golden Jubilee in Riyadh from April 27-30, under the Royal Patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al-Saud. The 2024 Annual Meetings will be held under the theme of ‘Cherishing our Past, Charting our Future: Originality, Solidarity, and Prosperity’, marking IsDB’s 50 years of fostering socio-economic development in its member countries, according to an IsDB news release.

As the premier South-South multilateral development Bank, the 2024 IsDB Group Annual Meetings and IsDB Golden Jubilee are expected to attract international and regional attention. The Annual Meetings will feature a series of side events with top-level panelists from government, international and regional organizations, the private sector, academia, and civil society.

Ministers of Economy, Planning, and Finance from IsDB’s 57 member countries will participate in the event, along with representatives of inte
rnational and regional financial institutions, Islamic banks, private sector companies, national and international development finance institutions, international and regional organizations, NGOs, chambers of commerce and industry, and business councils. The meetings will provide an opportunity to explore ways to consolidate economic relations among IsDB member countries and maximize cooperation with participating financing institutions.

During these Annual Meetings, IsDB Group will also celebrate the Bank’s Golden Jubilee to commemorate five decades of unwavering collaboration, steadfast partnerships, and transformative change. It marks a significant journey of IsDB that began 50 years ago in Riyadh with the inaugural meeting of IsDB Board of Governors, graced with the attendance of the Governor of Riyadh at that time, HRH Prince Salman bin Abdulaziz Al-Saud.

A number of forums, seminars, and meetings will take place during this historic gathering including the Governors Roundtable Meeting, the 18th IsDB G
lobal Forum on Islamic Finance, IsDB Group 2024 Private Sector Forum, the Role of SMEs in Saudi Vision 2030, Charting a Course for Augmenting SDGs Financing, Leveraging Islamic Finance for Developing Sustainable and Resilient Infrastructure, Arab Coordination Group Forum, Future Vision Symposium, General Assembly of Federation of Consultants from Islamic Countries (FCIC).

Source: Saudi Press Agency

Manama, Bahrain All Share Index has closed at 2,023.77 points, marking an increase of 1.48 points above the previous closing.

This increase was due to the rise in the financial sector and the real estate sector.

Bahrain Islamic Index closed at 771.36 points, marking a decrease of 2.77 points below the previous closing.

Results indicated that 59 equity transactions took place with a volume of 1,117,336 worth BD 515,848.

Investors traded mainly in the material sector, representing 50.98% of the total value of securities traded.

Source: Bahrain News Agency

Manama, Bahrain All Share Index has closed at 2,040.09 points, marking a decrease of 0.33 points below the previous closing.

This decrease was due to the drop in the Financial Sector and Real Estate Sector.

Bahrain Islamic Index has closed at 777.37 points, marking a decrease of 11.59 points below the previous closing.

Results indicated that 79 equity transactions took place with a volume of 890,137 worth BD 237,970.

Investors traded mainly in the Financial Sector, representing 50.66% of the total value of securities traded.

Source: Bahrain News Agency