Resurgent oil prices are causing a noticeable improvement in Gulf Cooperation Council fiscal and external balances in 2021, in addition to reform momentum that has taken hold to varying degrees since 2014 in response to oil price volatility, Fitch Ratings says.Fitch’s scenario analysis estimates that GCC budgets, except in Bahrain, …

Prosecutors in Germany are required, pursuant to the law, to put seized items such as bitcoin up for auction. An online auction of seized bitcoin that was initially priced at a discount aroused astonishment in Germany. The minimum bid was set at 42,400 Euros, below bitcoin’s recent price above $63,000. …

On Monday, Nigerian President Muhammadu Buhari officially introduced the country’s central bank digital currency; the eNaira.The Central Bank of Nigeria published a document in which it reaffirmed its intention to introduce the eNaira after previously attempting but failing to do so on 1 OctoberAccording to the design paper for the …

From Europe to the United States, market drivers ranged from unemployment, inflation-related concerns, earnings and alarming losses to inventories of energy, particularly natural gas. On Friday, Fed’s Chair Jerome Powell officially announced that the U. S. economy is ready for reducing the asset purchases, however, he did not think that …

The S&P 500 erased previous daily gains and dropped 0.12%, settling at 4,544.36, shortly after Fed’s Chair Jerome Powell had admitted that the central bank keeps monitoring price pressures carefully and would act as required. Indices record losses between 0.23% and 0.98%, except for the Dow Jones Industrial, up 0.18%. …

The S&P 500 erased previous daily gains and dropped 0.12%, settling at 4,544.36, shortly after Fed’s Chair Jerome Powell had admitted that the central bank keeps monitoring price pressures carefully and would act as required.As the S&P500 cash market opened, the market mood was upbeat, with the three major U. …

WTI futures have bounced up to $82.50. the U. S. crude oil regained previous losses to return to levels near multi year highs at $83.95.Crude prices remain within previous ranges, consolidating after a nine week surge, however, oil prices retreated earlier today as the German Chancellor, Angela Merkel, and Federal …

Stock market price for electricity has risen by 140% since January in Germany. Experts say energy prices are driven up by natural gas cost, which has surged by 440% since the beginning of 2021. Energy prices for households in Germany have surged only 4.7% in the first half of 2021, …

U.S. energy firms cut oil and natural gas rigs, Friday, for the first time in seven successive weeks even as oil prices rose to new seven year highs.The U.S. oil and gas rig count fell by 1 to 542 in the week to Oct. 22, energy services firm Baker Hughes …

In terms of earnings, which became the language of the market since mid-October, investors in housing-related companies are positive. Shares of retail giants Home Depot (HD) and Lowe’s (LOW) are up 36% and 42% this year respectively and are trading at all time highs. The SPDR S&P Home builders (XHB) …