News
Renewed US-Iran Conflict Narrows Egypt's Economic Growth Prospects
1+ hour, 22+ min ago (1651+ words) The renewed US-Iran conflict in the Middle East is expected to further curb Egypt's economic growth prospects as global oil prices are forecast to rise again, while several sectors of the economy continue to grapple with the effects of months…...
Turkish June Monthly Inflation at 0. 99%, Matches Forecast
1+ week, 1+ day ago (1187+ words) Turkish consumer price inflation matched expectations in June, with annual inflation easing to 32. 11% after two months of faster price growth, data from the Turkish Statistical Institute showed on Friday." The monthly reading was 0. 99%, matching a Reuters poll forecast, while the…...
Gold Falls as Higher Treasury Yields, Fed Rate Hike Bets Weigh
1+ week, 2+ day ago (1198+ words) Gold fell for a third consecutive session on Wednesday, as rising US Treasury yields and growing bets that the Federal Reserve will raise interest rates pressured the non-yielding metal. Spot gold was down 0. 8% at $3, 974. 75 per ounce as of 0849 GMT, after…...
Turkish Manufacturing Contracts, Hit by Iran War Disruption, PMI Shows
1+ week, 3+ day ago (1189+ words) T'rkiye's manufacturing "sector contracted in June as the war in the Middle East disrupted demand and supply, a business survey showed on Wednesday. The Istanbul Chamber of Industry's T'rkiye Manufacturing Purchasing Managers' Index, compiled by S&P Global, fell to…...
Labor Market Reforms Drive Saudi Unemployment to Historic Lows
1+ week, 3+ day ago (1629+ words) Reducing unemployment in Saudi Arabia has evolved from a Vision 2030 target into one of the clearest indicators of the Kingdom's economic transformation. Having surpassed its original goal of reducing Saudi unemployment to 7 percent years ahead of schedule, the Kingdom continues…...
Gold Slips as Fresh US-Iran Strikes Boost Oil, Fed Rate-hike Bets Weigh
1+ week, 5+ day ago (1564+ words) Gold prices eased on Monday as recent US-Iran strikes in the Gulf pushed oil prices higher, while expectations of US Federal Reserve interest rate hikes further weighed on the non-yielding metal, Reuters reported. Spot gold was down 0. 8% at $4, 057. 77 per ounce,…...
Gold Lingers Near 7-month Low as Fed Hike Bets Boost Dollar
2+ week, 1+ day ago (1174+ words) Gold fell for a third straight session on Thursday, lingering near a more than seven-month low it had reached in the previous session, as expectations of US rate hikes lifted the dollar and weighed on the precious metal. Spot gold…...
Gold Heads for Third Weekly Loss on Firm Dollar, Hawkish Fed Signals
3+ week, 20+ hour ago (1179+ words) Gold prices were on track for a third consecutive weekly fall, slipping more than 1% on Friday, as a stronger dollar and hawkish signals from the US Federal Reserve weighed on the greenback-priced metal. Spot gold was down 1. 1% at $4, 156. 26 per ounce,…...
UK Inflation Holds Steady at 2. 8% Ahead of Bank of England Decision
3+ week, 3+ day ago (1576+ words) British inflation unexpectedly held at 2. 8% for May, unchanged from the 13-month low reached in April, official figures showed on Wednesday, a day before the Bank of England will announce its next interest rate decision. Sterling weakened a little against the…...
Gold Extends Gains After US, Iran Reach Peace Deal
3+ week, 5+ day ago (846+ words) Gold rose more than 2% on Monday after US and Iran officials said they had reached an initial agreement to end their war, pushing oil prices lower and easing concerns about inflation and higher interest rates. Spot gold climbed 2. 5% to $4, 322. 87 per…...