UAE Stock markets Suffer Significant Decline in Third Week of Ramadan
The financial markets in the United Arab Emirates experienced a substantial downturn during the third week of Ramadan, wiht a reported loss of 13.3 billion dirhams in market capitalization.
In contrast, a seperate report indicates a positive trend for the Emirati financial markets, with indicators closing in the green following transactions in January 2025.
A U.S. Representative has referred Federal Reserve Chair Jerome Powell to teh Justice Department, a move occurring amidst pressure from former President Donald trump concerning interest rate policies.
The referral, initiated by Representative Marjorie Taylor Greene, targets Powell for alleged “crimes and misdemeanors.” While the specific details of the allegations are not fully elaborated in the initial report, the action is directly linked to TrumpS ongoing public criticism of the Federal Reserve’s interest rate decisions. Trump has repeatedly advocated for lower interest rates, arguing that they would stimulate the U.S. economy and benefit his political agenda.
This growth highlights the contentious relationship between the executive branch, particularly under Trump’s influence, and the self-reliant Federal reserve. The Fed’s mandate includes maintaining price stability and maximizing employment, objectives that can sometimes lead to interest rate adjustments that are unpopular with political figures seeking immediate economic growth.
The referral to the justice Department, if pursued, would place Powell under scrutiny for his actions as head of the central bank. However, the practical implications and likelihood of any formal charges or investigations stemming from this referral remain uncertain. The Federal Reserve operates with a degree of autonomy designed to shield monetary policy decisions from short-term political pressures.
Global oil markets saw a downturn today, with key benchmarks like Brent crude and WTI futures experiencing modest drops. This movement occurs as U.S. President Donald Trump voiced his satisfaction with current oil prices while advocating for even lower rates.
Brent crude futures registered a decline of 0.3%, settling at $68.52 per barrel after a 19-cent decrease. Concurrently, American “NIMX” crude futures slipped by 0.2%, translating to a 14-cent reduction, with prices reaching $66.52 a barrel.
President Trump shared his perspective on the energy market, stating that a price of $64 per barrel represents a “great price.” He further expressed optimism regarding potential future price reductions, indicating a desire for continued downward momentum in oil costs.
The fluctuations in oil prices are closely watched indicators of global economic health. For instance, the U.S. Energy Information Administration reported that gasoline prices at the pump averaged $3.58 per gallon in the week of October 23, 2023, demonstrating the impact of crude oil costs on consumer prices.
Readers seeking real-time financial updates can utilize dedicated applications for immediate news delivery. Additionally, information regarding the Egyptian Stock Exchange and specific banking sectors in Egypt and Saudi Arabia is available through provided links, catering to diverse investment interests.
Further insights into economic leadership are available, with one report highlighting Kevin Haysit as a potential successor to the Federal Reserve chairmanship, reportedly with President Trump’s endorsement. This suggests broader considerations within the U.S. administration regarding economic policy and key appointments.
Just – European stocks rose, today, Friday, to an all-time high, led by a continued rise in stocks exposed to China, against a backdrop of significant economic stimulus from the financial authorities in Beijing, while the gains of “Moncler” and shares of the luxury goods sector also supported the index..
The European Stoxx 600 index rose 0.2% to an all-time high of 526.70 points at the start of the day, according to Reuters.
The index is heading for its best week in more than a month, if gains continue.
China-focused luxury goods stocks lifted the index’s performance, outperforming”LVMH“of billionaire Bernard Arnault, the fourth richest man in the world, and”Hermes“and”dry“and”Hugo Boss “and”Burberry “Profits are between 3-4%%.
Chinese stocks are heading for their best week since 2008.
Earlier today, China’s central bank lowered the borrowing cost for repurchase agreements for seven days, as part of the biggest stimulus package since Corona.
Moncler shares rose 11.8%, after CEO Reuvini ended a deal with… LVMH“, which will be evidence of partnership LVMH Le Rovini to invest more in Italian luxury goods group.
The region’s personal and household goods sector led sector gains, rising 1.6%.
French consumer prices rose less than expected in September, according to CPI figures. France’s CAC index rose 0.3%.
Spain’s main stock exchange, IBEX, was trading flat after data showed inflation in the country fell to 1.7%.
To trade and invest in the Egyptian Stock Exchange, click here
Follow the latest stock and economic news through our Telegram channel
Nominations
The Bank of England is cutting interest rates for the first time in four years
The decline in business activity casts a shadow over the global economic recovery
European stocks fell ahead of the Bank of England decision
English “Charred Capital” is considering pumping $7 billion to set up a petrochemical plant in Egypt
Dice Readymade Garments acquires the majority of the shares of United Dyers Company
2024-09-27 08:45:58
#European #stock #index #jumping #alltime #high
The CCMB gave themselves confidence by winning against Angers this Saturday afternoon (75-81). That was his last preseason game.
C’Chartres Métropole Basket won its last preparation game, last Saturday afternoon in Angers, 75-81, against an opponent it had already beaten in a scrimmage (training game) in August, at the Colisee, at the game behind closed doors. An opponent who plays one level below, in N1M.
After defeats against three ProB clubs (Orléans, Évreux and Blois), the CCMB is a little reassured.
Ahmed Doumbia, one more tile for C’Chartres MB
While they have to deal with many physical problems with the injury of Gavin Kensmil (groin injuries) and the latest of Ahmed Doumbia (knee), the Chartrains will have a few days to finalize the final details before the move them to Roanne on September 13 for the first day of the ProB competition.
2024-09-07 20:11:24
#Basketball #ProB #CChartres #Métropole #Basketball #wins #preparation #game #Angers #N1M
Brasilia.- Silvio Santos, a television executive and host known for his big smile and his phrase “Who wants money?”, has died after a decades-long career. He was 93.
Santos owned the SBT television network and created several variety shows. The most famous of these was named after him, which he hosted since 1963, and in recent years was broadcast on Sunday evenings. It is one of the longest-running television shows in Brazil.
Santos brought other successful programs to his network, such as “El show del millón” and the reality show “La casa de los artistas.”
The cause of his death was not reported. He had been reported admitted to a hospital in recent weeks.
“Today the sky rejoices with the arrival of our beloved Silvio Santos. He lived 93 years to bring happiness and love to all Brazilians… That wide smile and familiar voice will always be remembered with much gratitude,” the SBT network said in a statement on social media on Saturday.
His passing will change weekends in millions of Brazilian homes that tuned into the “Silvio Santos Show” and were greeted by its opening jingle: “Here comes Silvio Santos!” He folded money airplanes and dropped them over the audience during his show, some of whose episodes lasted up to 10 hours. He interacted constantly with the audience and, with a custom-made microphone attached to his shirt collar, was free to wave his hands in the air.
Even after turning 90, she continued to dye her hair brown, which contributed to her timelessness. Her well-groomed hair became another of her trademarks.
In 2013, Forbes magazine compared him to Oprah Winfrey and film directors Steven Spielberg and George Lucas.
Santos was universally known by his stage name, although he was born Senor Abravanel in the raucous Lapa neighborhood in central Rio de Janeiro. As a teenager, he sold pens and plastic covers for voter ID cards and performed tricks with coins and cards.
His sales tactics were so attractive that he was offered an audition to be a radio host. He moved from station to station in Rio and, after a stint in the army, made it big in the media in Sao Paulo. His first television job came in the early 1960s on the Globo network, then called TV Paulista, where the “Programa de Silvio Santos” was later born.
About a decade later, he acquired his first television concession and set out to build an empire. He founded SBT, which in 2021 was the third most-watched network among the 214 million people in the South American country.
Not all of his witticisms went down well. He was repeatedly accused of misogyny for comments about women’s appearance or that caused discomfort. On at least two occasions, he declined to hug female stars on his show, saying he didn’t want to “get turned on.” In 2016, he asked a 5-year-old girl if she preferred sex, drugs or money. But, as the owner of his own network, he never faced any punishment.
Santos also had ventures in cosmetics, hotels and even a bank. Forbes estimated that Santos’ net worth from 30 companies would be 2 billion reais (about $380 million) in 2020.
