Al-Jaghbeer: The Industrial Sector Leads Economic Growth
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Oil prices fell on Thursday as markets awaited the OPEC+ meeting next week, where a potential production increase is expected to be discussed. Brent crude dropped to $67.33 and US crude to $63.69 per barrel amid rising US oil inventories.
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Herman Gref, head of Sberbank, predicted a gradual decline in the Russian ruble's exchange rate by the end of this year, which would reduce risks for exporters and the budget. The Russian Central Bank is set to meet on September 12 to discuss monetary policy amid expectations of an interest rate cut.
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Recent data shows that Oman and Saudi Arabia are the cheapest countries globally to own property, requiring about 3.1 years of annual income. In contrast, Syria tops the list of the most expensive, needing 115 years of income to own a home, highlighting significant global affordability disparities.
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Moscow's BPA Technologies has developed a new technology to track people’s movements without using their biometric data, employing invisible coating and specialized cameras with AI algorithms.
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A recent report reveals the expansion of cocaine trafficking networks from Latin America to West Africa since 2019, using West Africa as a logistical hub for redistribution to Europe. Morocco tightens security at the Guerguerat border crossing, seizing hundreds of kilograms of cocaine in precise customs operations.
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Adnoc Supply & Services' institutional offering saw exceptional investor demand, exceeding the target value nearly sevenfold, reflecting strong confidence in the company. The deal boosts share liquidity and diversifies shareholders, paving the way for MSCI index inclusion.
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A worker died in a rock collapse at a mine in the Oymyakon area of Yakutia, northeastern Russia. The incident is under investigation at a gold mining site, and mining operations have been suspended pending the inquiry.
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The US Dollar Index stabilized at 98.178 after a 0.17% decline, while the British Pound steadied at $1.3442 after a volatile week. Weak US labor market data boosted expectations of an interest rate cut this month.
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British Lord Raminder Ranger expressed his frustration over the high food and drink prices at Antalya Airport in Turkey, noting that prices there exceed those in the UK, sparking public outrage and questions about the ranking of Turkish airports among the world's most expensive.
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Ryanair announced a cut of one million seats on its flights to Spain during winter 2025 due to increased airport fees by AENA, negatively impacting regional airports and job opportunities in remote areas.
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