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Gold Hits New Record Level Amid Increased Bets on US Interest Rate Cuts
SadaNews Economy - Gold prices surged to an unprecedented record level today, Tuesday, continuing their gains for the sixth consecutive session, supported by a weak dollar and increased bets on a reduction of US interest rates this month.
Gold rose in spot transactions by 0.6% to record $3495.01 an...
BYD Shares Drop 8%
SadaNews - Shares of "BYD" listed in Hong Kong dropped by up to 8% on Monday, reaching HK$105.2, the lowest level since April 9, heading towards the biggest daily decline since May 26, and leading the list of losers on the Hang Seng Trade and Industry Index and the Hang Seng Technology Index.
Shares...
For the First Time Since 2011.. Silver Price Exceeds $40
SadaNews - The price of silver exceeded $40 per ounce for the first time since 2011, fueled by growing expectations of a rate cut by the Federal Reserve this month, which has boosted investor interest in precious metals.
The spot silver price rose by 1.4% to reach $40.2920 per ounce on Monday, in...
Despite Trump Tariff Suspension, Weakness in Chinese Factories Persists
SadaNews - Factory activity in China remained sluggish during August, as the government's campaign against price wars hampers production and negates the positive impact of the extended trade truce with the United States.
The National Bureau of Statistics announced on Sunday that the official manufa...
What are the implications of activating the snapback mechanism on the Iranian economy?
SadaNews - The Iranian nuclear file has entered a new critical phase after France, Germany, and Britain announced before the UN Security Council that they would activate the automatic return mechanism for sanctions, known as the "snapback mechanism", within 30 days unless a new agreement is reached...
Egypt Establishes New Pipeline for Transporting Israeli Gas at $400 Million
SadaNews - Egypt is preparing to establish a new pipeline to transport the additional quantities of Israeli gas that were recently agreed upon, during the fourth quarter of this year, at an estimated cost of about $400 million.
One official clarified that the pipeline will be entirely built within...
Bloomberg Economics: Modi and Xi Meeting Indicates Tactical Change Rather Than Strategic S...
SadaNews - Indian Prime Minister Narendra Modi's visit to China for the Shanghai Cooperation Organization summit and planned talks with Chinese President Xi Jinping indicates a cautious thaw in their relationship, which has been strained by border clashes over the past five years.
Both sides recogn...
WhatsApp Allows Editing and Writing Messages with Artificial Intelligence
SadaNews Economy - WhatsApp has announced the launch of a new feature called "Writing Help," which enables users to draft messages using artificial intelligence techniques.
The new feature, according to an official blog post, uses Private Processing technology to assist users in receiving multiple...
Oil Prices Head for First Monthly Loss Since April Amid Increasing Supply
SadaNews Economy - Oil prices have declined, heading towards a monthly loss in August, amid dominating fears of an oversupply in the global market, along with rising geopolitical tensions, primarily concerning U.S. efforts to end the war in Ukraine.
Brent crude for November delivery traded near $68...
Gold Near Highest Level in a Month
SadaNews Economy - Gold prices traded today, Friday, near their highest levels in more than a month, as the general decline of the dollar and increased expectations of the Federal Reserve (the US Central Bank) cutting interest rates in September boosted demand for the precious metal.
Gold remained...
"Chery Automobile" Plans IPO in Hong Kong Worth $1.5 Billion
SadaNews - Chery Automobile plans to conduct an initial public offering (IPO) in Hong Kong that could raise approximately $1.5 billion as early as next month, according to people familiar with the matter, adding to expectations that September will be bustling with new listings in the financial hub....
Rise of Technology Stocks in Asia Ahead of Nvidia's Results Release
SadaNews - Stocks declined in late trading after Nvidia's results disappointed investors who were anticipating more from the leading company in artificial intelligence that has fueled the rising market.
A $660 billion exchange-traded fund tracking the S&P 500 fell after regular trading hours. T...