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Russia: We do not plan to withdraw from the OPEC+ alliance
SadaNews - Deputy Prime Minister of Russia, Alexander Novak, stated today, Thursday, that Russia, as a major oil producer, does not intend to withdraw from the "OPEC+" alliance.
Novak said in a statement to Sputnik news agency, on the sidelines of the Caucasus Investment Forum: "As the largest oil-...
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Oil prices rise to $123 due to tensions with Iran
SadaNews Economy - Oil prices continued to rise today, Thursday, driven by increasing fears of prolonged disruptions in supplies from the Middle East, as diplomatic efforts to end the US-Israeli war against Iran have reached a deadlock, raising market concerns and supporting the upward trend in pric...
Federal Reserve Keeps Key Interest Rate Unchanged as Expected
SadaNews Economy - On Wednesday, the U.S. Federal Reserve (the central bank) kept the key overnight interest rate unchanged in a range between 3.50% and 3.75%, during its last official meeting under the chairmanship of Jerome Powell, whose term ends in mid-May 2026.
The Federal Reserve stated tha...
US Federal Reserve Keeps Interest Rates Unchanged
SadaNews - On Wednesday, the US Federal Reserve (the central bank) kept the key overnight interest rate unchanged in a range between 3.50% and 3.75%, during its last official meeting under the presidency of Jerome Powell, whose term ends in mid-May 2026.
The Federal Reserve reported that recent ind...
Gulf States Reject Hormuz Fees and Accelerate Transportation and Pipeline Projects
SadaNews - The Gulf Cooperation Council (GCC) countries rejected any fees for crossing ships through the Strait of Hormuz and directed to expedite the implementation of joint transportation and infrastructure projects, with the Iran war nearing the end of its ninth week.
This approach was outlined...
China's Dominance of Rare Metals Grants It $1.2 Trillion in Influence
SadaNews - China's dominance over the supply chains of rare metals gives President Xi Jinping an economic influence estimated at about $1.2 trillion, ahead of the anticipated summit with U.S. President Donald Trump in Beijing next month.
A recent analysis by "Bloomberg Economics" indicated that abo...
Brent Stabilizes Near $111 Amid Continued Closure of Hormuz
SadaNews - Oil prices stabilized as investors focused on the next steps in peace talks regarding the war with Iran, amidst the almost complete closure of the vital Strait of Hormuz, prolonging the disruptions that have unsettled global markets.
Brent crude traded near $111 per barrel after rising...
Morocco Has an Opportunity to Increase Its Economy by 20% If Reforms Are Implemented
SadaNews - Morocco could increase its GDP by 20% by 2035 if it focuses on enhancing competition within markets, opening up to private investment, and supporting the inclusion of women and youth in the formal economy, according to two recent reports by the World Bank.
This acceleration in growth cou...
Gold and Silver Prices Experience Fluctuations Amid Geopolitical Tensions
SadaNews - Gold stabilized after a two-day decline, as investors continue to focus on the talks between the United States and Iran, while the closure of the Strait of Hormuz continues to raise inflation risks.
The price of the precious metal reached approximately $4,601 per ounce, after declining b...
UAE Announces Decision to Exit OPEC and OPEC+
SadaNews Economy - The United Arab Emirates announced on Tuesday its decision to exit the Organization of the Petroleum Exporting Countries (OPEC) and OPEC+, effective from May 1, 2026, according to the official UAE News Agency (WAM).
This decision aligns with the UAE's long-term strategic and econ...
Hebrew Report: For the First Time.. A Decrease in Development Jobs in Israel's Advanced Te...
SadaNews Economy Translation - An economic report published by the Hebrew newspaper Calcalist showed a decrease of 1.1% in the number of employees in research and development jobs within the advanced technology sector in Israel, marking the first decline of its kind in this field.
According to the...