UDC Signs Agreement to Sell 40% Stake in Qatar Cool to QIA

United Development Company (a Qatari public shareholding company) signed a conditional sale and purchase agreement with Investco Holding Company, a wholly owned subsidiary of Qatar Investment Authority (QIA), worth QR 793.4 million, in exchange for 40…

Dollar Steady at over 2-Month High

The US dollar was perched at an over two-month high against major currencies on Tuesday, spurred by wagers the Federal Reserve will proceed with modest rate cuts in the near term, pinning the yen closer to the key 150 per dollar level.

The euro also …

US Stocks End Higher

US stocks ended higher at the end of the trading session on Monday.

The S and P 500 gained 46.47 points, or 0.80%, to end at 5,861.50 points, while the Nasdaq Composite gained 159.70 points, or 0.87%, to 18,502.64.

The Dow Jones Industrial Average r…

Oil Falls 3% in Early Asian Trade

Oil prices slid 3% in early Asian trade on Tuesday after OPEC lowered its outlook for global oil demand growth in 2024 and 2025.

Brent crude futures were down $2.27 at $75.19 per barrel, while US West Texas Intermediate futures fell $2.22 to $71.60 p…

Chinese Yuan Loans Grow by $2.27 Trillion in First 3 Quarters

China’s yuan-denominated loans rose by 16.02 trillion yuan (about $2.27 trillion) in the first three quarters of the year, central bank data showed on Tuesday.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, …

Gold Prices Flat as Investors Await Fresh Impetus

Gold was flat on Tuesday as investors await fresh insights on the Federal Reserve’s stance on US interest rate reductions for further direction on bullion prices.

Spot gold held its ground at $2,646.64 per ounce. Prices hit a record high of $2,685.42…

Rain Transforms Wadi Qanuna into Picturesque Landscape

Wadi Qanuna in Al-Ardiyat Governorate, in Makkah, has witnessed scattered rains in the past few days, which transformed the landscape into a picturesque scene of lush greenery and enchanting natural beauty.

Stretching around 108 kilometers, Wadi Qanu…