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Gold jumps 2% to two-week high as weak U.S. data fuels Fed rate cut bets
November 10th, 2025 - 10:45 GMT
Albawaba Business

Albawaba Business

Gold jumps 2% to two-week high as weak U.S. data fuels Fed rate cut bets

ALBAWABA- Gold prices surged 2% on Monday to their highest level in two weeks, driven by mounting expectations of a Federal Reserve rate cut next month and renewed safe-haven demand amid global economic and geopolitical uncertainty. A softer U.S. dollar further bolstered bullion’s appeal. According to Reuters , spot gold climbed 2% to $4,078.45 per ounce by 09:56 GMT—its strongest level since October 27—while U.S. gold futures for December delivery ...
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US crude inventories rose by 4.9 million barrels in the week ended June 7 to 482.8 million barrels.
June 13th, 2019 - 07:09 GMT

Oil Supply Cuts to Be Extended at Least Until End of Year

There were 330,685 foreign visitors to Oman in April 2019 – 84,452 more than the same month in the previous year, accounting for a 34.3 percent increase.
June 12th, 2019 - 10:47 GMT

While Expat Numbers Plummet in Oman, Tourist Numbers Soar

Earlier in April, Uber announced it reached an acquisition deal of $3.1 billion with Careem that’s the largest of its kind in MENA.
June 12th, 2019 - 10:40 GMT

UAE First Country to Green-Light Uber’s Acquisition of Careem

Analysts predicted that even if the Qatari pledge was real, the 15 billion it promised will not be enough to resolve the ailing economy.
June 12th, 2019 - 10:23 GMT

How Sincere Is Qatar's Pledge to Support Turkey's Deteriorating Economy?

Aside from implanting viruses, the US has long been hacking information from the terminals of Chinese customers and has been utilizing apps to tap, steal information and analyze the information they obtained, a Beijing-based military expert, who also specializes in cybersecurity, told the Global Times on Monday.
June 12th, 2019 - 10:14 GMT

China Accuses US of Most Cyber Attacks Targeting Its Networks in 2018

Egypt has well over $300 billion of known planned and un-awarded projects, which gives it a project pipeline larger than any other regional market after Saudi Arabia and the UAE.
June 12th, 2019 - 10:04 GMT

Egypt Largest Single Projects Market in Region With Over $300 Billion Projects

The project goes beyond Facebook's goal to use renewable energy to power its data centers, where the social media giant stores photos, videos and other information that people post on the platform.
June 12th, 2019 - 09:43 GMT

Facebook Builds One of the Largest Solar Projects in US

ccording to Knight Frank's Wealth Report, average prime property price fell 3.4 per cent from $6,966 (Dh25,565) per square metre in 2017 to $6,729 (Dh24,695) per sqm last year.
June 12th, 2019 - 09:30 GMT

Dubai's Luxury Property Most Affordable Amongst Expensive Cities

The law also provides for a new administration process where there is evidence of mismanagement or misconduct.
June 12th, 2019 - 09:26 GMT

Dubai Introduces New Insolvency Law

The government is working to attract foreigners to come and invest, manufacture and export in order to boost trade which is contributing 30 per cent to Dubai’s GDP.
June 12th, 2019 - 07:50 GMT

Chinese Companies to Invest Over $4 Billion in UAE Logistics Projects

Chinese Vice Foreign Minister Zhang Hanhui stated that “trade frictions between China and the US and the spectre of trade frictions between the US and India” are of vital importance for talks between the two countries currently under pressure from Washington.
June 12th, 2019 - 07:23 GMT

China Proposes Unity to India to Resist US Trade ‘Bullying’

The actions follow sanctions on Foz by the European Union in January.
June 12th, 2019 - 06:59 GMT

US Sanctions Syrian Businessman for Supporting Assad Regime

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