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U.S. Government Shutdown Enters Its 23rd Day and Approaches Historic Record
SadaNews Economy - October 23. The U.S. government shutdown has entered its twenty-third day, making it the second longest shutdown in the history of the United States, amid ongoing political deadlock between the White House and Congress.
If the shutdown continues until November 4, it will match th...
Oil Jumps 2.5% After U.S. Sanctions on Russian Companies
SadaNews Economy - Oil prices surged about 2.5% this Thursday, continuing the gains initiated in the previous session, amid renewed concerns about supplies after the United States imposed sanctions on two major Russian oil companies, "Rosneft" and "Lukoil," in the context of the conflict in Ukraine....
Gold Contracts Rise Amid Anticipation of U.S. Inflation Data
SadaNews Economy - Gold prices shifted towards an increase during today’s session on Thursday, following sharp losses on Wednesday, and amidst anticipation of the upcoming U.S. inflation data, with the price today reaching $4,114.37 per ounce.
The U.S. Consumer Price Index report, scheduled to be r...
China Injects Billions to Counter the Trade War Waged by Trump
SadaNews - After six months since U.S. President Donald Trump's launch of the trade war, the robustness of China’s exports confirms the vital importance of many of its products, despite U.S. tariffs that have reached 55%.
Daily, Chinese goods worth nearly one billion dollars are shipped to the Unit...
India and the U.S. Move Closer to a Trade Deal that Could Reduce Tariffs to 15%
SadaNews - India and the United States are nearing a trade agreement that could reduce the tariffs imposed on Indian exports to between 15% and 16% compared to about 50% currently, according to the "Mint" newspaper, citing three individuals familiar with the matter who were not named.
The newspaper...
Israel Reduces Gas Exports to Egypt Due to Maintenance Work in the Tamar Field
SadaNews - Israeli gas imports to Egypt have dropped to about a third starting today, Wednesday, and for a period of 12 days, due to maintenance work in the "Tamar" field in the deep waters of the Mediterranean, according to a government official.
Egypt began importing gas from Israel in 2020 with...
Saudi Arabia and Australia Prepare to Expand Cooperation Bridges in Mining and Investment
SadaNews - Saudi Arabia is intensifying its efforts to strengthen relations with Australia, a country that has not had significant trade dealings with the Kingdom, at a time when Riyadh seeks to capitalize on the new momentum resulting from deals in minerals, mining, and financing.
Officials from b...
Slight Increase in Oil Prices Amid Expectations of U.S. Inventory Decline
SadaNews - Oil prices rose slightly after an industry report showed a decline in crude inventories in the United States for the first time in four weeks, while U.S. President Donald Trump reiterated that India will reduce its purchases of Russian energy.
Brent crude traded above $61 a barrel, up 0....
Gold Prices Experience Volatility After Largest Sell-off
SadaNews - Gold and silver prices fluctuated on Wednesday after experiencing the largest sell-off in years on Tuesday, amid fears that the recent significant rally has made prices overvalued.
Spot gold traded near $4,140 an ounce after a drop of 6.3% in the previous session, marking its largest dai...
IMF Raises Growth Forecasts for Oil-Importing Countries' Economies Over Two Years
SadaNews - The International Monetary Fund has raised its forecasts for the growth of oil-importing economies in the Middle East, North Africa, Afghanistan, and Pakistan for the current and upcoming year, expecting these countries to benefit from falling crude prices and a declining dollar, which wi...
Gold Prices Stabilize at $4,381 per Ounce
SadaNews - Gold stabilized near a new record level, maintaining its support, despite market optimism over a decrease in global trade tensions and increasing hopes for the imminent reopening of the U.S. government.
The precious metal prices jumped by as much as 3.1% on Monday, peaking at $4,381.52...
Trump Threatens India with Huge Tariffs Due to Russian Oil
SadaNews - U.S. President Donald Trump threatened India to maintain high tariffs imposed on Indian goods unless it stops importing Russian oil.
Trump told reporters aboard Air Force One that he spoke with Indian Prime Minister Narendra Modi, and the latter informed him that India "will not deal wit...