Author: News Room
OPEC showed it still matters in oil markets this past week, pushing crude prices up more than 5% by announcing a one million barrel-a-day output cut. Its core Middle Eastern members increasingly count in equity markets, too. Saudi Arabia entered MSCI’s global emerging market indexes in June 2019. Since then, the iShares MSCI Saudi Arabia exchange-traded fund (ticker: KSA) has gained 20% while global emerging markets are flat. That’s not just about oil. Six of the top 10 Saudi stocks are banks, which benefit from a large base of zero-interest deposits thanks to Islamic Sharia law. Most of their assets…
Donald Trump is now in a stronger position to win the 2024 Republican presidential nomination than he has been in months as his party rallies around him following his indictment by a New York grand jury on business fraud charges. But actual results on the ground continue to suggest that the former president may not be good for the Republican brand among the general electorate. On the day of Trump’s arraignment in Manhattan on Tuesday, Democratic-backed Janet Protasiewicz celebrated victory in the Wisconsin Supreme Court election as liberals won control of the high court in the ultimate swing state. That…
Israel’s air force struck targets in Syria on Sunday, after militants in the neighbouring country fired rockets towards Israel, capping a week of tensions ignited by a police raid at Jerusalem’s al-Aqsa mosque.The latest burst of violence added to fears of a broader escalation. It followed a tense 48 hours in which Israel bombed southern Lebanon and the Gaza Strip in response to rocket fire, and twin attacks in Israel and the occupied West Bank that killed two British-Israelis and an Italian tourist.Israel’s military said it hit several targets in Syria in the early hours of Sunday, including rocket launchers,…
One of the biggest problems facing Americans today is the incredibly high inflation that has been dominating the economy. There can be little doubt of this as the current inflation rate is the highest that it has been in more than forty years. In fact, there has not been a single month over the past year in which the consumer price index appreciated by less than 6% year-over-year: Trading Economics As a result, people need to increase their incomes significantly simply to maintain their lifestyles. There are very few jobs that have delivered on this, which is one reason why…
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Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.The groundbreaking income-generating real estate platform, Metropoly, continues to soar after raising over $1.1 million in its presale. Investors are quickly flocking to the presale as they believe the passive income provided through rental yield on the real-estate-backed NFTs will attract a lot of attention.The presale is currently in the eleventh stage, but you need to hurry to get invested at the current prices because the next stage is about to start today with higher prices incoming. With under a month left before launch, this is certainly…
China’s banks and insurers have become the latest focus of a sweeping anti-corruption crackdown that is ensnaring top officials and risks rattling the already fragile nerves of investors and entrepreneurs. The Communist Party’s top anti-graft agency, the Central Commission for Discipline Inspection (CCDI), has investigated more than a dozen senior executives at the country’s most important financial institutions so far this year, according to a CNN analysis of statements posted on the CCDI’s website. Three big names at the very top of China’s financial system have been probed or charged, according to the CCDI, including Li Xiaopeng, the former chairman…
American Airlines is getting rid of its traditional frequent flyer award chart as the carrier moves toward dynamic pricing for mileage redemptions, the latest shift in its lucrative AAdvantage loyalty program.Starting late Wednesday, the carrier will publish starting levels for how many frequent flyer miles are likely required to redeem for a ticket in certain regions — for example, 7,500 for a one-way ticket within the contiguous 48 U.S. states and Canada. Previously, the chart showed redemption levels that were static.American in December said it would get rid of different redemption categories, MileSAAver and AAnytime awards, which have set minimum…
Tech stocks lifted the S&P 500 into the green Thursday as the market wrapped up the short trading week on a high note despite signs of a weakening labor market.The S&P 500 rose 0.36% to 4,105.02 after losing as much as 0.50% earlier. The tech-heavy Nasdaq Composite outperformed with a 0.76% gain to 12,087.96, boosted by a 3.78% rise in Google-parent Alphabet and a 2.55% rally in Microsoft shares. The Dow Jones Industrial Average inched 2.57 points higher to 33,485.29 after losing more than 150 points at its session low.The S&P 500 still lost 0.1% on the week, posting its…
