Al-Jaghbeer: The Industrial Sector Leads Economic Growth
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Gold reached a new record near $4000 per ounce amid the U.S. government shutdown and tech stock volatility, prompting investors to seek safe-haven assets. Prices have surged over 51% this year amid rate cut expectations and global political tensions.
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Morocco imported 660,000 tons of Russian agricultural products worth $147 million during the first eight months of 2024, with Russian wheat exports to Morocco tripling last year, according to data from the Russian Federal Center for Agricultural Exports Development.
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Wall Street's major stock indices fell Tuesday as investors awaited data and Federal Reserve comments amid a government shutdown. Stocks declined across sectors with volatility in tech, automotive shares, and a luxury goods recovery limiting European losses.
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President Donald Trump warned that if the government shutdown continues, federal employees could be laid off and projects canceled. He also proposed issuing rebate checks to citizens funded by customs duty revenues.
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Dr. Fatima Al-Hilalat, Commissioner of Sustainable Development at the Petra Authority, visited the Queen Rania Al Abdullah Center in Aqaba to learn about their community empowerment experience and discuss cooperation to transfer this expertise to Petra.
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Finance Minister Mohammed Al-Jadaan led the Saudi delegation at the 124th GCC Financial and Economic Cooperation Committee meeting in Kuwait, where ministers discussed enhancing financial and economic cooperation, Customs Union progress, and the GCC common market pathways.
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The New York Stock Exchange hit new record highs on Thursday, driven by expectations of a Federal Reserve interest rate cut, despite a partial federal government shutdown in the U.S. causing economic disruptions.
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The UAE participated in the Gulf Financial and Economic Cooperation Committee meeting with senior officials from the Ministry of Finance, Customs, and Tax Authorities. Discussions focused on combating harmful practices in international trade and enhancing Gulf economic unity.
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Portuguese star Cristiano Ronaldo announced from Riyadh the launch of his new medical project, affirming that Saudi Arabia has become his second home. The project is part of Vision 2030 to diversify the economy and expand health and cosmetic services.
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Egypt's Prime Minister Mostafa Madbouly announced that the state collected 67.5 billion EGP in taxes from government companies after removing exemptions, noting a drop in prices of many goods and stability in most others in the markets.
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