Gold breaks above $2,700 to record high as geopolitical uncertainty heightens
Hong Kong, China - Gold prices hit a record high above $2,700 on Friday as traders piled into the safe-haven commodity...Economy
Asia-Pacific markets gain ahead of US inflation data
Asia-Pacific markets traded higher on Thursday, following gains on Wall Street that saw the S&P 500 and Dow Jones Industrial...Economy
Moody’s puts Israel’s credit ratings on review for downgrade
Moody's announced that it was putting a number of the Israeli government's credit ratings on review for a downgrade, including...Moody's statement comes after Fitch Ratings announced on Tuesday that it was placing Israel's A+ foreign-and local-currency issuer default ratings on "Ratings Watch Negative"
Fitch cited "the heightened risk of a widening of Israel's current conflict to include large scale military confrontations with multiple actors, over a sustained period of time"
Tourism prowess makes Riyadh top World Expo choice
As Riyadh vies to host 2030 World Expo, the city offers a perfect blend of historical charm and modernity, spotlighting...The capital of Saudi Arabia is currently undergoing a transformative journey in tourism, seamlessly blending its historical allure with modern sophistication
As Riyadh vies to host 2030 World Expo, it's set to showcase its rich history, architectural marvels, diverse culinary offerings, and advanced mobility solutions
Tourism prowess makes Riyadh top World Expo choice
In its bid to boost tourism, the Saudi capital blends historical charm with modernity, spotlighting its rich heritage, architecture, cuisine,...The capital of Saudi Arabia is currently undergoing a transformative journey in tourism, seamlessly blending its historical allure with modern sophistication
As Riyadh vies to host 2030 World Expo, it's set to showcase its rich history, architectural marvels, diverse culinary offerings, and advanced mobility solutions
Qatar eyes North Field to boost liquefied gas output
Qatar plans a 60% boost in liquefied gas production by 2027 through North Field expansion, tapping the world's most substantial...Qatar plans a 60% boost in liquefied gas production by 2027 through North Field expansion, tapping the world's most substantial gas reservoir with 50.97trn cubic meters
The project will raise global LNG by 48 million tons annually, supporting a GDP per capita over $84,000 from $132bn gas exports while producing 40% of new LNG by 2029
PIF announces pricing of inaugural $3.5bn global sukuk issue
RIYADH, SAUDI ARABIA - The Public Investment Fund (PIF) on Thursday successfully priced its first dollar-denominated Shariah-compliant trust certificates (sukuk).The...The issuance will be listed on the London Stock Exchange’s International Securities Market (ISM).
The sukuk issuance was more than seven times oversubscribed, with orders exceeding $25 billion,
Saudi Metrology Organization, Enterprise Singapore ink MoU on standardization
RIYADH, SAUDI ARABIA – The Saudi Standards, Metrology and Quality Organization (SASO) and Enterprise Singapore signed an MoU here, focusing...The pact encompasses cooperation and the exchange of best practices and experiences in metrology, calibration and safety of consumer products.
The MoU includes provisions for training, capacity building and collaboration in the development of infrastructure for standards and quality.
Markets in retreat on growing fears of Middle East war
With Benjamin Netanyahu building up a huge force ahead of an expected land incursion into Gaza, Iran has warned of...The prospect of an all-out war pushed oil prices up Wednesday, though Washington's decision to suspend some sanctions on Venezuelan output tempered the gains
Risk aversion among traders was increased by concerns the Federal Reserve would hike interest rates again, or at least keep them elevated for an extended period
Saudi Central Bank to collaborate with monetary authority of Singapore in fintech
Riyadh, Saudi Arabia - The Saudi Central Bank (SAMA) signed an agreement with the Monetary Authority of Singapore (MAS) on...The agreement seeks to facilitate activities of both organizations in international markets
It will also provide a framework for cooperation between their innovation departments
China’s Xi announces over $100 billion in new Belt and Road funding
Beijing has been forced to hand out billions of dollars in bailout loans to BRI countries in recent years to...The Belt and Road is a central pillar of Xi's bid to expand China's clout overseas, with Beijing saying it has now inked over two trillion dollars in contracts around the world
Xi announced on Wednesday that key Belt and Road lenders the China Development Bank and the Export-Import Bank will now offer an additional $100 billion in loans
China economy growth slowed in third-quarter but beat forecasts
Last year, the economy grew three percent, far from the official target of 5.5 percent, and one of the slowest...The 4.9 percent expansion in July-September was helped by forecast-beating retail sales figures and follows a series of broadly positive readings
But authorities are still on edge over turmoil in the real-estate sector, which has long accounted for a quarter of the country's gross domestic product
