Browsing: Business

In a statement released Wednesday, Haitham Al Ghais, the Secretary-General of OPEC, addressed common misconceptions about the competition between oil and electrification, emphasizing the collaborative role petroleum plays across various sectors. Al Ghais highlighted the critical role of petroleum and

As 2024 progresses, gold has surged by over 20%, drawing heightened interest from Wall Street as it begins to outshine the broader U.S. stock market. According to financial experts, this trend is largely influenced by the Federal Reserve’s potential policy

Gold prices reached unprecedented heights this week, hitting a record of $2,500.99 per ounce amid weakening U.S. dollar and heightened anticipation of a Federal Reserve rate cut. The spot gold price later edged up to $2,498.72 by late Friday afternoon,

In a strong rebound, U.S. shoppers ramped up their spending in July, registering a 1% increase from June – the highest growth in retail sales seen in 18 months. This surge, reported by the Commerce Department, came after a modest

Initial public offerings (IPOs) in the UAE have amassed a significant $890 million in the second quarter of 2024, highlighting a robust period for market debuts. This data, provided by PwC Middle East in its latest IPO+ Watch report, illustrates

The stock market surged Thursday, buoyed by strong retail sales and favorable labor statistics, alleviating concerns of an imminent recession. The Dow Jones Industrial Average climbed by 311 points, marking a 0.78% increase, while the S&P 500 rose 0.95%, registering

In a significant shift in the restaurant industry, Starbucks Corporation announced the dismissal of its CEO and the appointment of Brian Niccol, the current CEO of Chipotle Mexican Grill, as its new leader. This decision catalyzed a drastic change in

The Dow Jones Industrial Average surged by 317 points, a 0.8% increase, as positive U.S. inflation data bolstered investor confidence. Similarly, the Nasdaq Composite and the S&P 500 saw gains of 2% and 1.4%, respectively, edging the market closer to

The United Arab Emirates is experiencing continued growth in key economic sectors, according to the latest report from the Organisation of the Petroleum Exporting Countries (OPEC). Released on Monday, the August Monthly Oil Market Report highlighted notable advances in real

Cryptocurrency markets have once again shown resilience as Bitcoin crossed the $60,000 threshold, highlighting a significant recovery from the sharp declines earlier this week. The digital currency surged 11% to settle at $61,232.36 on Thursday, rebounding from the $55,000 support