Israel’s Iron Dome anti-missile system intercepts rockets, as seen from Ashkelon, Israel, October 1, 2024 Amir Cohen | Reuters Israel’s government has vowed a severe response to Iran’s unprecedented missile barrage into Tel Aviv, leaving the Middle East on edge as fears rise over a possible all-out war between the two long-time foes. On Tuesday … Read more
Riyadh, Saudi Arabia. Xavierarnau | E+ | Getty Images Saudi Arabia cut its growth forecasts and raised its budget deficit estimates for the fiscal years 2024 to 2026, looking ahead to a period of higher spending and lower projected oil revenues. Real gross domestic product is now expected to grow 0.8% this year, a dramatic … Read more
Iran’s Supreme Leader Ayatollah Ali Khamenei waves before voting in the country’s presidential election, in Tehran, Iran July 5, 2024. Office Of The Iranian Supreme Le | Via Reuters Iran’s powerful proxy network across the Middle East is being dealt blow after blow from Israel, which has dramatically escalated fighting with Lebanese militia group Hezbollah … Read more
With just a session left for September to end, so far Foreign Portfolio Investors (FPIs) have been net buyers of Indian equities at Rs 57,359 crore. The total investments by them now stand at Rs 1,00,245 crore on the year-to-date basis and is highest in nine months. In August, FPIs bought domestic shares worth Rs … Read more
The sun sets beyond crude oil storage tanks at the Juaymah tank farm at Saudi Aramco’s Ras Tanura oil refinery and oil terminal in Ras Tanura, Saudi Arabia, on Monday, Oct. 1, 2018. Bloomberg | Bloomberg | Getty Images Global benchmark Brent crude falling below $70 a barrel in early September — its lowest in … Read more
“India has historically traded at a premium compared to other emerging markets (EMs) due to its large, profitable, and diverse corporate landscape,” says Rajesh Cheruvu – MD and CIO, LGT Wealth India. In an interview with ETMarkets, Cheruvu said: “We are currently overweight in industrials and healthcare and underweight in Energy and Utilities. However, our … Read more
“Historically, a cut of this size certainly triggers some discussion about whether it is triggered by current economic weakness or a desire to not be behind the curve,” says Cameron Brandt, EPFR Global. First things first, how is it that one should be reading into this outsized rate cut by the Fed? I mean, is … Read more
Lebanon’s leadership warned that the risk of further violence and escalation is extremely high following two days of attacks involving exploding communications devices across the country. The next 48 hours, ministers told CNBC Thursday, will be particularly dangerous. On Tuesday and Wednesday, thousands of communications devices — including pagers and two-way radios — used by … Read more
The U.S. Federal Reserve is on Wednesday heading for its first interest rate cut since the onset of the Covid-19 pandemic — and despite the move being widely forecast, global investors are braced for impact. The Fed is behind a swathe of its central bank peers, including those in the euro zone, the U.K., Canada, … Read more
Saudi Arabia is optimistic about gaining access to U.S. chipmaker Nvidia’s high-performance chips, which would enable it to develop and operate the most advanced artificial intelligence models. Speaking to CNBC on Thursday, a top official at the Saudi Data and AI Authority, Abdulrahman Tariq Habib, said the kingdom expected to make such a stride in … Read more
