Emerging markets
Iran’s response to Israel will be a choice between revenge and survival. Markets say it’s choosing survival
Iran’s Supreme Leader Ayatollah Ali Khamenei waves before voting in the country’s presidential election, in Tehran, Iran July 5, 2024. Office Of The Iranian Supreme Le | Via Reuters Iran’s powerful proxy network across the Middle East is being dealt blow after blow from Israel, which has dramatically escalated fighting with Lebanese militia group Hezbollah […]
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OPEC is highly bullish on long-term oil demand growth. Not everyone agrees
The sun sets beyond crude oil storage tanks at the Juaymah tank farm at Saudi Aramco’s Ras Tanura oil refinery and oil terminal in Ras Tanura, Saudi Arabia, on Monday, Oct. 1, 2018. Bloomberg | Bloomberg | Getty Images Global benchmark Brent crude falling below $70 a barrel in early September — its lowest in […]
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‘Very serious escalation’: Lebanese ministers warn of a dangerous next 48 hours after pager and device attacks
Lebanon’s leadership warned that the risk of further violence and escalation is extremely high following two days of attacks involving exploding communications devices across the country. The next 48 hours, ministers told CNBC Thursday, will be particularly dangerous. On Tuesday and Wednesday, thousands of communications devices — including pagers and two-way radios — used by […]
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What a Fed rate cut could mean for the world
The U.S. Federal Reserve is on Wednesday heading for its first interest rate cut since the onset of the Covid-19 pandemic — and despite the move being widely forecast, global investors are braced for impact. The Fed is behind a swathe of its central bank peers, including those in the euro zone, the U.K., Canada, […]
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Saudi Arabia expects to get access to Nvidia’s high performance chips ‘within the next year’
Saudi Arabia is optimistic about gaining access to U.S. chipmaker Nvidia’s high-performance chips, which would enable it to develop and operate the most advanced artificial intelligence models. Speaking to CNBC on Thursday, a top official at the Saudi Data and AI Authority, Abdulrahman Tariq Habib, said the kingdom expected to make such a stride in […]
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CEO of property firm Damac expresses concerns over ‘expensive’ Dubai
DUBAI, United Arab Emirates — Dubai’s property scene is showing no sign of cooling off, as 2024 is on track to be another record year in terms of sales figures and property values, according to local real estate firms. Increasing demand for property, especially in the luxury space, is boosting prices not just of homes, […]
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‘Spook the West’: Turkey’s bid for BRICS both a strategic and symbolic step, analysts say
Turkish Foreign Minister Hakan Fidan attends the BRICS+ session on a two-day BRICS foreign ministers summit held in Nizhny Novgorod, Russia on June 11, 2024. Sefa Karacan | Anadolu | Getty Images Turkey’s request to join the BRICS alliance is a move seen as both strategic and symbolic as the Eurasian country of 85 million […]
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China, India and more: Veteran investor shares his take on emerging markets right now
Emerging markets have been making headlines this year, with growing economies, populations and consumer demand all garnering the attention of investors — but not all EMs are created equal. China in particular has been of concern, given uncertainty over how its economy will perform looking ahead. George Boubouras, managing director for research, investment and advisory […]
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Saudi Arabia’s fiscal breakeven oil price is rising fast. What will the kingdom do about it?
An offshore drilling platform stands in shallow waters at the Manifa offshore oilfield, operated by Saudi Aramco, in Manifa, Saudi Arabia, on Wednesday, Oct. 3, 2018. Simon Dawson | Bloomberg | Getty Images Saudi Arabia has a superpower. Not only is it the largest exporter of crude oil in the world; its production costs for […]
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Oil giant Saudi Aramco’s second-quarter profit dips 3% on lower crude production volumes
A 3D printed natural gas pipeline on Feb. 8, 2022. Dado Ruvic | Reuters Saudi state oil giant Aramco reported $29.1 billion in net profit for the second quarter, a dip of just over 3% from the same period last year as crude production volumes remained low. Aramco reaffirmed its second-quarter base dividend of $20.3 […]
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