Market Update

The United States economy continues to be affected by the Coronavirus pandemic, as evident by the decline in applications to start new businesses by 28.5% during the fourth quarter (Q4) of 2020, Reuters reported. Data by the U.S. Department of Commerce said on Thursday that applications to start new businesses …

Consumer sentiment in the United States fell last week its lowest level in six months, data showed on Thursday. The Bloomberg Consumer Comfort Index declined by 1.2 points to 43.2 points. This the eighth consecutive decline in the index, which is now 6.6 points below its level in mid-November in …

The United States Department of Commerce added on Thursday China National Offshore Oil Corporation (CNOOC) to its blacklist due to belligerent actions in the South China Sea, AFP reported. Accordingly, S&P Dow Jones indices has to de-list the company. “China’s reckless and belligerent actions in the South China Sea and …

There is a need for the global regulation of Bitcoin, according to the President of the European Central Bank (ECB), Christine Lagarde, Reuters reported. Lagarde believes that global cooperation is needed to stand in the face of what she called funny business and money laundering using the cryptocurrency, which she …

The United State economy is facing the risk of significant weakness during the coming months until Coronavirus vaccines are distributed, said the President of the Federal Reserve Bank of Boston, Eric Rosengren. “I am expecting that the labor market is going to be stagnant for the next couple months until …

The Organization of the Petroleum Exporting Countries (OPEC) left its forecast for global oil demand growth in 2021 unchanged at 5.9 million barrels per day in its latest monthly report, per Reuters. “US shale supply outlook is now slightly more optimistic with rising oil prices, the output is seen recovering …

There were 965,000 initial claims for unemployment benefits in the US during the week ending January 9, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed the previous print of 784,000 and came in worse than the market expectation of 795,000.

The Egyptian Cabinet said today, Thursday, that the total budget deficit amounted to 3.6% of GDP in the first half of the current fiscal year 2020-2021, compared to 4.1% a year ago. He added in a press release that the primary surplus in the first half of the current fiscal …

The consumer price index increased in KSA by 5.3% in December 2020 compared to the same month last year in December 2019, which is lower than the inflation rate for the previous month, November 2020. This price development is largely due to the increase in value-added tax from 5% to …

A British study conducted on health care workers found that those infected with Covid-19 were most likely to have immunity from the disease for at least five months, but there is evidence that those carrying antibodies may carry and spread the virus. And the preliminary results reached by scientists at …