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European stocks rise after Trump suspends attack on Iran
SadaNews Economy - European stocks rose on Tuesday after investors welcomed news of the suspension of a U.S. attack on Iran, following Tehran's latest peace proposal, amidst hopes for a near agreement.
U.S. President Donald Trump stated that there is now a "very good chance" of reaching an agreemen...
Gold Gains Increase Supported by Signs of De-escalation Between Washington and Tehran
SadaNews Economy - Gold extended its gains as the easing of the likelihood of a ceasefire agreement between the United States and Iran alleviated some inflationary concerns that had pressured the precious metal.
The precious metal rose by as much as 0.4% to trade around $4,585 an ounce, after endin...
Oil Drops Nearly 2% After Trump Suspends Attack on Iran
SadaNews - Oil prices fell by nearly 2% on Tuesday after U.S. President Donald Trump announced the suspension of a planned attack on Iran to allow for negotiations aimed at ending the war.
Brent crude futures for July fell by approximately 1.9% to $109.88 per barrel.
Meanwhile, U.S. West Texas Int...
Russia Reinforces Shadow Gas Fleet with Four Tankers to Increase Exports
SadaNews - Four liquefied natural gas tankers, which until recently were serving an Omani export terminal, have begun loading fuel shipments from a Russian project that is under U.S. sanctions, in the latest sign of Moscow's efforts to boost its exports and circumvent Western restrictions.
The tank...
Widespread Slowdown in China's Economy Amid Weak Investment and Consumption
SadaNews - China's growth has widely slowed down in April, with investment returning to decline, while retail sales and industrial production fell short of expectations, highlighting the fragility of the economy in the face of a global energy crisis.
Investment in fixed assets unexpectedly shrank b...
Eni Aims to Add 120 Million Cubic Feet of Gas Daily from Egypt's Zohr Field
SadaNews - The Italian company "Eni" aims to add about 120 million cubic feet of new gas daily and 160 barrels of condensates daily to the production of the "Zohr" field in the Mediterranean Sea in Egypt by next June, by completing the isolation works of the water-producing layers in two wells in th...
Oil Continues to Rise as Trump Renewed Pressure on Iran
SadaNews - Oil prices have risen for the third consecutive day after President Donald Trump renewed pressure on Iran to reach a deal that would end weeks of conflict and reopen the vital Strait of Hormuz.
Brent crude advanced above $111 a barrel, after adding about 8% last week, while West Texas In...
Gold Continues to Decline Amid Stalemate in Hormuz and Rising Inflation Concerns
SadaNews - Gold continued its decline as there was no progress in reopening the Strait of Hormuz, which fueled inflation concerns that drove bond markets sharply down.
The precious metal dropped by up to 1.3% to about $4,547 per ounce, after decreasing by nearly 4% last week.
The United States and...
Iran's War Ignites a Global Race to Build Stockpiles Amid Energy Crisis Concerns
SadaNews - Business surveys expected to be released this week are anticipated to reveal the ongoing global rush to stock up on manufactured goods amid fears of an energy supply crisis, as the Iran war enters its third month.
Purchasing Managers' Index (PMI) indicators for May, which measure industr...
Egypt Imposes Fees on Slowly Executed Tourist Projects in the Red Sea
SadaNews - The General Authority for Tourism Development in Egypt has imposed new fees averaging around 700 EGP (13 USD) per meter on tourist and hotel projects in the Red Sea area, in exchange for a one-year extension to complete execution, as part of government efforts to reorganize the market and...
Gold ounce reaches nearly $4,540 and silver at $75
SadaNews - Current trading prices indicate that the gold ounce is now close to $4,540.
In contrast, the silver ounce has recorded a spot price of $75.
Investors are closely monitoring current price movements to determine upcoming trends in the precious metals sector, especially in light of geopoliti...
Global Stock Sell-off as Inflation Fears Rise
Economy SadaNews - Global stocks fell and U.S. bond yields rose to their highest levels in over a year, as concerns grew over a return of inflationary pressures due to a spike in oil prices, at a time when investors began to question the sustainability of the AI-driven rally.
The MSCI Asia-Pacific...