Daily Economic Reports

Spinney’s in the UAE and Oman, giant retail series, is planning to obtain financing worth $375 million through an initial public offering of about 25% of its shares, per Reuters.The indicative price per share ranges from 1.42 UAE dirhams to 1.53 UAE dirhams, which may result in financing that may …

Since last halving, i. e. halving Bitcoin mining rewards, the world’s most popular cryptocurrency has been showing a great deal of strength and momentum due to the upbeat effect of this technological process that is repeated approximately every four years.The largest cryptocurrency, in terms of transaction volume, was halved on …

Buoyed by market demand in the safe haven metal, gold prices have embraced the task of recovering from recent losses amid a stronger US dollar and rising US Treasury yields. The market became more stable as a result of the Middle East tensions de-escalating, which also reduced demand for gold …

The dollar showed signs of recovery on Wednesday after facing significant losses against the euro and pound the day before, while the yen remained near its lowest level in 34 years, despite intensified warnings from Japanese officials about potential intervention to support the currency. The dollar index, which gauges the …

US stocks secured gains on Tuesday as investors prepared for a fresh batch of earnings reports, most notably Tesla. Nasdaq Composite led the trading day, surging about 1.6%. The benchmark S&P 500 rose about 1.2% after staging a comeback from a six-day run of losses on Monday. The Dow Jones …

The United States is preparing to impose fresh sanctions on a few Chinese institutions in an effort to stop Beijing from funding and supporting Russia’s war in Ukraine. The proposed sanctions coincide with this week’s scheduled visit to China by US Secretary of State Antony Blinken. Regarding Beijing’s facilitation of …

The Pound Sterling rebounds from 1.2300 on robust increase in UK Services preliminary PMI for April. The UK preliminary Services PMI data surprisingly jumped to 54.9 from 53.1Two BoE policymakers are lined up to speak as investors seek clues about the interest-rate outlook. The Pound Sterling (GBP) bounces back from …

On Tuesday, the Japanese yen plummeted to multi-year lows against both the dollar and the euro, prompting heightened vigilance among traders for potential government intervention ahead of the Bank of Japan’s upcoming meeting. Conversely, the British pound saw a decline to its lowest levels in several months following dovish remarks …

Easing geopolitical threats and a rising US dollar cause gold to retreat substantially from recent highs. Gold is -2.75% down; trading at $2326.10 per ounce at the time of writing. Gold prices are under pressure because Fed members, particularly Chairman Powell, have a hawkish view on interest rates. As expectations …

Switzerland’s central bank is urged by a group of Bitcoin supporters to include Bitcoin in its strategic reserves. A campaign to persuade the Swiss National Bank (SNB) to include Bitcoin in its balance sheet has been started by a group of proponents of the cryptocurrency in Switzerland. The nonprofit group …