Al-Jaghbeer: The Industrial Sector Leads Economic Growth
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France faces a severe economic and political crisis in summer 2025 with total debt exceeding $8.6 trillion and weak economic growth of 0.6%. The government plans major austerity amid parliamentary confidence crisis and fears of serious European repercussions.
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Several Arab countries are building new administrative capitals to relieve pressure on overcrowded traditional capitals, such as Egypt's new administrative capital costing about $58 billion. These projects carry significant developmental ambitions but face economic and financial challenges.
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Egypt has developed 37 new fourth-generation economic cities, including the New Administrative Capital and New Alamein, aiming to attract foreign investments, create jobs, and improve infrastructure despite economic challenges.
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An Israeli strike that killed most members of the Houthi-affiliated Yemeni government, including Prime Minister Ahmed al-Rahwi, represents a strong moral blow to the Houthis and marks the beginning of the countdown to the end of the Houthi entity in Yemen.
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Oil prices fell for the third consecutive day as the OPEC+ meeting next week approaches to discuss production increases. US crude inventories unexpectedly rose, and US President Trump urged Europe to stop buying Russian oil, potentially pushing global prices higher.
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Gold prices rose on Friday, heading for their best weekly gains in three months amid growing expectations of a US interest rate cut, while markets await US nonfarm payroll data.
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The US market awaits Friday's official jobs report, with expectations of a 75,000 increase in nonfarm payrolls. ADP data showed a 54,000 job increase in August, boosting hopes for interest rate cuts without triggering recession fears.
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A British lord expressed anger over the high food prices at Antalya Airport in Turkey, sharing a fast-food price list that showed prices higher than those in the UK, sparking widespread debate on Turkish social media platforms.
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US President Donald Trump announced plans to impose relatively large tariffs on semiconductor imports soon, amid fierce competition with China and Taiwan in the semiconductor sector.
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President Trump has reduced tariffs on Japanese cars from 27.5% to 15%, and set a 15% tariff cap on other Japanese goods, effective seven days after the order's publication in the U.S. Federal Register.
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