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Formula 1 Owner Loses $2 Billion in Market Value Due to Iran War
SadaNews - The market value of the "Formula 1" Championship, owned by "Liberty Media", has decreased by more than $2 billion since the outbreak of the Iran War, amid growing concerns over the scheduled races in the Middle East, casting a shadow over a sport that is among the most popular around the...
War Drives Oil Prices to Record Highs
SadaNews Economy - The price of American oil recorded its largest weekly gains in history, following the eighth day of the war between the United States and Israel on one side, and Iran on the other, which disrupted vital energy flows in the market, and nearly stopped shipping traffic through the "S...
Shock in U.S. Job Data Shakes Confidence in Labor Market
SadaNews Economy - The U.S. economy recorded an unexpected decline in jobs in February amid a strike by healthcare workers and cold temperatures, while the unemployment rate rose to 4.4%, which could indicate a deterioration in labor market conditions, placing the Federal Reserve in a difficult posi...
Dollar Prepares for Largest Weekly Gain in Over a Year
SadaNews Economy - The US dollar remained generally stable in Asian trading on Friday and was poised to achieve its largest weekly gains in over a year, driven by escalating conflict in the Middle East and increased demand for safe-haven assets.
The euro and yen continued to face ongoing pressure a...
India Activates 'Emergency Powers' to Secure Cooking Gas Amid Middle East Crisis
SadaNews Economy - India has activated emergency powers and issued orders for refineries to maximize production of liquefied petroleum gas to avoid cooking fuel shortages due to supply disruptions caused by the crisis in the Middle East, according to a government order.
India, the world's second-la...
Gold Rises but Heads for First Weekly Decline in a Month
SadaNews Economy - Gold prices rose today, Friday, after recovering some of their losses from the previous session, which exceeded 1%, as investors turned to the precious metal as a safe haven amid increasing uncertainty regarding the escalation of conflict in the Middle East.
Spot gold increased b...
Russian Oil Finds Its Way Back to India Thanks to Iran War
SadaNews - Data from ship tracking has shown that two shipments of Russian oil, originally headed for East Asia, have changed course towards India, indicating that New Delhi is becoming more open to receiving Russian crude as the conflict in the Middle East escalates.
Data from Kpler and Vortexa in...
Georgieva Warns of Iran War Testing Global Economic Resilience
SadaNews - The Director of the International Monetary Fund, Kristalina Georgieva, stated that the war in the Middle East will test the resilience of the global economy, warning that "new shocks in various forms and sizes" will continue to emerge.
Confirming the IMF's concern over the suffering and...
Oil Prices Exceed $84 Amid Near-Complete Closure of Strait of Hormuz
SadaNews - Oil prices extended their gains as the war waged by the United States and Israel against Iran disrupted oil supplies to major importers, with the warring parties vowing to continue the conflict, and China, the largest crude importer in the world, seeking to secure fuel.
Brent crude rose...
Gold Rises as Dollar Weakens Amid Middle East Tensions
SadaNews - Gold rose after the dollar weakened and the war in the Middle East entered its sixth day with no signs of resolution.
The precious metal increased by as much as 0.9% to reach $5,180 per ounce, following a gain of 1% in the previous session.
Investors were seeking safer assets as U.S. an...
Optimism for UAE Bank Stocks Despite Middle East Conflict
SadaNews - Cantor Fitzgerald has recommended purchasing shares of United Arab Emirates banks despite the regional conflict threatening the Gulf nation, calling these shares "low-risk and high-return" investments.
Analyst Kato Mukoro advised "over-weighting" shares of seven banks in investment portf...
Severe Losses for Asian Stocks Amid Surge in Oil and Gas Prices
SadaNews - The repercussions of the expansion of the US-Israeli war on Iran have extended to the energy and financial markets, where oil and gas prices have risen, while Asian stocks faced severe losses led by South Korea and Japan.
LNG Prices Surge in Asia and Europe
LNG prices in Asia have surg...