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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...
Oil Prices Decline Amid Growing Concerns Over Supply Surplus
Sada News - Oil prices declined on Monday under pressure from fears of a global supply surplus, while escalating trade tensions between the United States and China increased concerns about economic slowdown and weak energy demand.
Brent crude futures dropped approximately 0.3%, reaching $61.09 per...
Limited Recovery for Gold After Falling from Its Highest Levels
SadaNews Economy - Gold prices rose slightly today, Monday, supported by the prospects of a reduction in U.S. interest rates in the upcoming period, while investors are awaiting the release of U.S. inflation data and trade talks between the United States and China this week to determine the next dir...
5 Global Companies Considering Acquisition of Jabal El-Zeit Wind Farm in Egypt
SadaNews - Five global investment companies have begun a due diligence examination in preparation for acquiring the Jabal El-Zeit wind farm located on the Red Sea coast in Egypt, according to a government official.
The official's statements come about 48 hours after Egyptian Finance Minister Ahmed...
Trump Approves Tariff Exemptions for Car Production in America
SadaNews Economy - US President Donald Trump has signed orders for significant tariff exemptions for the production of cars and engines in the United States, and has imposed new tariffs of 25 percent on medium and heavy trucks and imported spare parts starting November 1.
Trump has also imposed a 1...