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Ankara Closes the Chapter on 'Lira-Indexed Deposits' After 4 Years of Launching Them
SadaNews - The Turkish Central Bank ended, on Saturday, the "protected deposits against exchange rate fluctuations" program (locally known as "KKM"), in a move described as a new chapter in the shift away from the unconventional economic policies adopted by President Recep Tayyip Erdoğan during the...
HSBC's Swiss Unit Ends Relations with 1,000 Wealthy Clients from the Middle East
SadaNews - The Swiss private banking unit of HSBC Holdings is terminating its dealings with several wealthy clients from the Middle East, many of whom have assets exceeding $100 million, as the bank seeks to reduce its exposure to individuals classified as high-risk, according to sources familiar wi...
Transformations in Federal Policy from Jackson Hole to the End of Inflation Surpassing
SadaNews - The annual economic policy seminar of the Federal Reserve Bank in Kansas City concludes its events in "Jackson Hole," Wyoming. Here are the key conclusions:
Powell's Signal
Federal Reserve Chairman Jerome Powell indicated in his speech on Friday that the U.S. central bank is likely to c...
Amendment of the Rent Law Releases Assets Worth 1.5 Billion Pounds for 'New Cairo'
SadaNews - The New Cairo Housing and Development Company, listed on the Egyptian Stock Exchange, is preparing to exploit real estate assets currently valued at approximately 1.5 billion pounds, represented by about 200 residential units subject to the old rent law, according to the company's managin...
What Does Egypt's First Digital Bank Offer?
SadaNews Economy - The Central Bank of Egypt has approved the conversion of the Egypt Digital Innovation Company (MDI) into "One Bank," making it the first integrated digital bank in the country to offer all its services exclusively through digital channels.
The company was established in 2020 as p...
Gold Prices Rise with Powell's Hint at Interest Rate Cut in September
SadaNews - Gold prices rose as the dollar weakened after Federal Reserve Chair Jerome Powell cautiously opened the door to a potential interest rate cut in September, indicating increasing risks facing the labor market despite ongoing inflation concerns.
In a speech delivered on Friday during the a...
Washington Post: Can the News Industry Stand Up to Artificial Intelligence?
SadaNews - Writer Adam Lashinsky, in an opinion piece published by the Washington Post, believes that the news industry faces an unprecedented challenge against generative artificial intelligence technologies, as new models appropriate intellectual property without permission, leading to a decline i...
US Federal Reserve Chairman Opens Door for Possible Rate Cut Without Clear Commitment
Sada News - Federal Reserve Chairman Jerome Powell opened the door on Friday for a possible interest rate cut during the bank's meeting in September; however, he did not make a clear commitment to that.
This statement was made in a speech at the bank's annual seminar in Jackson Hole, Wyoming, where...
75 Companies Applied for a License to Operate Commercial Drone Flights in Jordan
SadaNews Economy - Seventy-five companies have applied for a license to operate commercial drone flights in Jordan, according to Captain Haitham Mesto, the head of the Civil Aviation Regulatory Commission, who noted that the number is increasing.
Mesto delivered the first operating license for a co...
German Central Bank Warns: Potential Recession in the Third Quarter
SadaNews Economy - Estimates from the German central bank indicate that the German economy is unlikely to achieve significant leaps in this ongoing quarter, as mentioned in the bank's report for August, published in Frankfurt on Thursday.
The bank stated in its monthly report: "In the third quarter...
Gold prices stabilize as bets on rate cuts decline ahead of Powell's speech
SadaNews Economy - Gold prices stabilized today, as traders scaled back their bets on interest rate cuts ahead of the Federal Reserve symposium in Jackson Hole, following strong data from the U.S. manufacturing sector that heightened monetary policymakers' concerns about inflation.
The precious met...
Oil Prices Stabilize as India-Russia Relations Remain in Focus Ahead of Tariffs
SadaNews Economy - Oil prices stabilized as the market assesses expectations for Russian oil flow to India, after a Trump administration official intensified criticism of this trade ahead of an anticipated increase in tariffs.
The price of West Texas Intermediate crude approached $63 per barrel, re...