New Meta app Threads dethrones OpenAI’s ChatGPT and becomes the world’s fastest growing app in terms of users. Since Threads launched less than a week ago, the Instagram-related app has seen huge growth in users, until it surpassed 100 million subscribers on Monday. Mark Zuckerberg, head of Meta, confirmed that …
Read More »Türkiye gives the green light to Sweden’s bid to join NATO
Turkish President Recep Tayyip Erdogan agreed on Monday to send Sweden’s request to join NATO to parliament, in a move that appears to end months of debate over the issue that has affected the military alliance while the war in Ukraine drags on. Sweden and Finland applied for NATO membership …
Read More »Oil rises on the back of OPEC+ cuts and traders focus on economic data
Oil prices rose on Tuesday, recouping some of the previous session’s losses, with traders focusing on Saudi Arabia and Russia cutting production and anticipating economic data that may help ascertain the demand for crude. Brent crude futures rose 33 cents, or 0.4 percent, to $78 a barrel by 0050 GMT, …
Read More »Oil eases on China, U.S. data, but OPEC+ cuts limit fall
Monday saw a decline in oil prices following disappointing economic statistics from the two largest users, the United States and China, although losses were contained by anticipated cuts in Saudi Arabian and Russian crude supplies. By 1005 GMT, West Texas Intermediate crude in the United States was down 40 cents, …
Read More »The Kremlin: There is nothing new to say about the grain export agreement across the Black Sea
The Kremlin said on Monday that Turkey has the right to establish relations with any country, including Ukraine, but that those relations should not be directed against Russia. Relations between Moscow and Ankara soured last week after Turkey returned five Ukrainian leaders to Kiev in what Russia described as a …
Read More »European stocks fell after Chinese data raised fears of deflation
European stocks fell on Monday, after recording big weekly losses, as below-expected inflation data in China stoked fears of weak demand, while investors awaited US inflation data as well as corporate earnings due later this week. The pan-European STOXX 600 index fell 0.3 percent in early trading, with China-linked miners …
Read More »Dollar is making up for its losses and Yuan is falling after weak inflation data in China
The dollar recovered its losses on Monday, after falling after data showed that jobs in the United States recorded the lowest growth in two and a half years, while disappointing inflation figures in China weighed on the yuan and the Australian and New Zealand dollars. Figures released on Friday showed …
Read More »Oil is falling before the announcement of US and Chinese data and OPEC + cuts support the market
Oil prices fell in early Asian trade on Monday as investors were cautious ahead of new economic data from the United States and China this week, while expected cuts in crude production from Saudi Arabia and Russia supported the market. By 0107 GMT, Brent crude futures were down 22 cents, …
Read More »Gold rises after US jobs data
Gold prices rose in early Asian trade on Monday after last week’s US jobs data overshadowed the strength of the labor market, prompting investors to be more cautious about the path of US interest rate hikes. By 0104 GMT, spot gold rose 0.1 percent to $1925.49 an ounce, and US …
Read More »Financial Markets’ Weekly Recap, July 3-6
Job growth in the United States slowed more than expected in June after a sharp increase in the previous month, but the labor market shortage persisted, with the unemployment rate falling from a seven-month high and relatively large wage increases continuing. On Friday, the Labor Department said in its well-watched …
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