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Increase in OPEC Production.. and Saudi Arabia Boosts Its Oil Exports
SadaNews - The Organization of the Petroleum Exporting Countries (OPEC) has increased its crude oil production at the highest pace in four months, with Saudi Arabia leading the increase in oil exports from the Middle East to regain its market share, according to a survey conducted by Bloomberg.
Riy...
The Minister of Labor Calls for a Common Arab Vision for Employment to Build Effective Dev...
SadaNews - Minister of Labor Dr. Inas Al-Atari participated in the Arab regional preparatory meeting for the second global summit on social development in Tunisia, during the fourth working session entitled "Employment and Full and Productive Employment in the Arab Region," which aims to provide soc...
Israel Studies New Model to Accelerate Reconstruction of Buildings Damaged by Iranian Miss...
SadaNews Economy translation - The Israeli occupation government is considering a new model that involves Israel purchasing the lands on which residential buildings were destroyed from the tenants, instead of granting them compensation for the damages caused by Iranian missiles. This plan comes as a...
Trump Calls for Federal Reserve Chairman to Resign Immediately
SadaNews - Former President Donald Trump reiterated his call for Jerome Powell, the Chairman of the U.S. Federal Reserve (the central bank), to resign, stating that the Chairman should do so immediately.
Trump had nominated Powell for the position during his first term. He was nominated for a secon...
Exchange Rates of Currencies Against the Shekel on Thursday (July 3)
SadaNews - The exchange rates of currencies against the shekel today, Thursday (July 3), are as follows:
America and Vietnam Reach Trade Agreement
SadaNews - On Wednesday, U.S. President Donald Trump announced that the United States has finalized a trade deal with Vietnam after months of negotiations, which includes imposing a 20 percent tariff on many imports coming from this Southeast Asian country.
This rate is lower than the initial tarif...
FAO: The Israeli War Has Devastated Agriculture in Gaza
SadaNews - The Food and Agriculture Organization (FAO) of the United Nations stated that the Israeli war on Gaza has devastated agriculture in the besieged sector, with only 4.6% of Gaza’s land remaining suitable for cultivation.
Abd al-Hakim al-Wa'ar, the FAO's Assistant Director-General and Regio...
The Monetary Authority Closes Several Exchange Shops and Imposes Fines on Others for Viola...
SadaNews Economy - The Monetary Authority has issued a decision to close several exchange shops/companies for violating the provisions of Instruction No. (01) for the year 2024 regarding the exchange rates of major currencies. This decision involved the closure of some shops or their branches, based...
Saudi Arabia Attracts $533 Million in First Off-Market Debt Trading
SadaNews - Saudi Arabia is witnessing new activity in debt trading following the launch of the off-market settlement option for sovereign riyal bonds, as part of the Kingdom's efforts to develop its financial markets and attract more foreign investors.
Approximately 2 billion riyals ($533 million)...
The Dollar Drops Near Its Lowest Level in 3.5 Years
SadaNews - The US dollar stabilized near its lowest levels since February 2022 against a basket of major currencies during Wednesday's trading, influenced by cautious signals from Federal Reserve Chairman Jerome Powell, alongside concerns over the potential repercussions of the massive spending bill...
Saudi Arabia and Morocco Map Out a Roadmap to Enhance Trade and Investment
SadaNews - Morocco and Saudi Arabia are seeking to increase trade exchanges and enhance the flow of investments by taking advantage of available opportunities, especially as both countries prepare to host the World Cups in 2030 and 2034, respectively.
Saudi Arabia achieves a significant trade surpl...
Amid Financial Concerns in the United States, Gold Holds onto Its Gains
SadaNews - Gold retained its gains as investors assessed the concerns surrounding the financial situation in the United States, after the Senate approved a tax package supported by President Donald Trump, valued at trillions of dollars.
The price of gold settled around $3,340 per ounce, after risin...