The gold price surged above $5,000 an ounce for the first time ever, marking a historic milestone as investors rushed toward safe-haven assets amid mounting geopolitical and financial uncertainty. The rally extends gold’s remarkable run in 2025, during which the precious metal has gained more than 60 percent. Market volatility has been fueled by rising…
Oman money supply rose by 6.4 percent to 26.4 billion Omani rials ($68.6 billion) in November, reflecting solid liquidity conditions and continued growth in bank deposits, according to official data released on Saturday. The increase in Oman money supply, which measures cash in circulation along with bank deposits, was driven by a 12.2 percent rise…
Dubai’s gold market reached a historic milestone on Saturday, with prices surpassing Dh600 per gram for the first time. The surge reflects strong international demand for precious metals amid ongoing economic uncertainties. According to data from the Dubai Jewellery Group, 24-karat gold traded at Dh601 per gram, continuing a streak of record highs over the…
India and the European Union are moving closer to what leaders on both sides have described as a landmark free trade agreement, as global trade uncertainty grows and concerns over US tariff policies continue to loom large. European Council President Antonio Luís Santos da Costa and European Commission President Ursula von der Leyen are set…
Saudi Arabia has revealed that it holds an estimated $2.5 trillion worth of mineral reserves, a development that could position the kingdom as a major player in the global race for critical and rare earth minerals. The renewed global focus on minerals comes as major powers compete to secure supplies essential for clean energy technologies,…
UAE banking sector assets recorded steady growth in November, rising by 0.8 percent to reach 5.25 trillion dirhams ($1.43 trillion), reflecting continued expansion in credit and deposit activity, according to newly released central bank data. The increase marks a rise from 5.2 trillion dirhams in October, highlighting the sector’s resilience amid broader economic momentum. Gross…
The death toll from ongoing anti-government protests in Iran continues to rise, with hundreds reported killed amid a violent crackdown by security forces. Human rights groups say that more than 600 demonstrators have died in just a few weeks, including minors, as citizens take to the streets to protest economic hardship, inflation, and political restrictions….
US stocks were mixed on Monday while bonds and the dollar weakened after renewed political pressure on the Federal Reserve raised concerns among investors about the central bank’s independence. Markets initially reacted sharply to news of a criminal investigation involving Federal Reserve Chair Jerome Powell, prompting investors to sell US stock futures, government bonds and…
An investigation has revealed that former Prince Andrew received millions from a Kazakh oligarch through funds connected to a company implicated in a bribery scheme. Timur Kulibayev, a billionaire and son-in-law of Kazakhstan’s former president, used a loan from Enviro Pacific Investments to help purchase Andrew’s former mansion, Sunninghill Park, for £15 million. Italian prosecutors…
Oman has launched a five-year plan to expand its small and medium-sized enterprise (SME) sector, aiming to boost private-sector growth while consolidating recent fiscal gains and maintaining its newly restored investment-grade status. The 2026–2030 SME Sector Implementation Plan, announced by the Small and Medium Enterprises Development Authority (Riyada), seeks to improve market access, enhance SME…
