Mon, June 05, 2023

Middle East

Broker News

Equiti Opens Abu Dhabi Office 1 Year After SCA License.

Equiti Group has announced the launch of its new office in Abu Dhabi to propel its presence in the United Arab Emirates. Equiti’s subsidiary manages the newest venture, regulated and licensed by the Securities and Commodities Authority since April of last year. Iskandar Najjar, Co-Founder and Group CEO of Equiti Group, stated that expanding to …

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HSBC Grew Wary as the Bank Broke Earnings Expectations

HSBC Grew Wary as the Bank Broke Earnings Expectations

HSBC Holdings PLC declared a significant increase in profit in the fourth quarter. This is due to growing interest rates and the banking giant’s emphasis on Asia and the Middle East. Exceeding financial analysts’ expectations, the British bank reported that its profit more than doubled in the last three months of 2022 compared to 2021, …

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NATURAL GAS

Russia Is Prepared to Restart Gas Supplies to Europe

Alexander Novak told the official news agency TASS that Moscow is prepared to restart gas shipments to Europe through the Yamal-Europe Pipeline. When Poland decided to use the gas already in Germany rather than purchase it from Russia in December 2021, the Yamal-Europe Pipeline’s normal westward flow mostly reversed. Warsaw terminated its agreement with Russia …

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Oil Rises On Tight Supply Moves

Oil Prices Up

Oil prices rose after OPEC, and the International Energy Agency both forecasted a rebound in demand over the next year. US rate hikes should slow in tandem with slowing inflation. Brent crude futures were up 77 cents, or 0.911 percent, to $81.44 per barrel, while WTI crude futures in the United States were up 80 …

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Weekly Overview: Forex, Stocks, Crypto, Commodities

Weekly Overview: Forex, Stocks, Crypto, Commodities May 13

Global markets and trends change every day. Several big influencers cause price movements every second. How are you doing this week in Forex, Stocks, Cryptocurrencies, and Commodities? Our weekly overview will answer this question and summarize this week’s overall market performance. Forex Weekly Overview The dollar edged lower in early European trade on Friday. Still, …

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Biggest cryptocurrency thefts

Why the Europe and US Can’t Control Crypto Alone?

Crypto detains lawmakers on both sides of the Atlantic. They need to work together – and in this regard, with other legislators worldwide. A more boundless approach is required for technology that pays less attention to boundaries. In March, U.S. Senators Kirsten Gillibrand and Cynthia Lummis announced their co-sponsorship of comprehensive crypto legislation. Pat Toomey submitted a …

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Oil

Oil extends retreat as China’s Covid crisis grows

On Monday, oil prices skidded as investors tracked a worsening Covid-19 outbreak in China. Brent Crude futures declined 0.39% or 0.32 points to $104.05 per barrel. The international benchmark extended a drop of 0.85% to $103.50 per barrel yesterday. Likewise, US West Texas Intermediate lost 0.60% or 0.57 points to $98.70 per barrel. It followed …

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Diesel shortage signals slow economic growth in Europe

Diesel shortage signals slow economic growth in Europe

European countries currently grapple with the risk of a diesel shortfall as deeper sanctions on Russia could disrupt imports. The heavy industry significantly relied on this liquid fuel for its main processes. This includes transportation, farming, fishing, power, and heating sectors. However, the surging value of diesel further pushes up fuel and transportation costs. Correspondingly, …

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Oil

Sunflower oil jumps on shortages due to Ukraine war

On Wednesday, sunflower oil prices significantly jumped after Russia’s invasion of Ukraine halted worldwide supply. Accordingly, contracts tied to the Black Sea commodity surged 9.56% or 140.00 points to $1604.00 per metric ton. The previous week settled around $1,950.50 per metric ton, the highest level since 2018. In line with this, the price of edible …

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