Al-Jaghbeer: The Industrial Sector Leads Economic Growth
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Global stock markets rose supported by gains in US technology stocks, while ADP data showed weakness in the US labor market with only 54,000 jobs added in August. Investors await the nonfarm payroll report and expect a US interest rate cut this month.
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After 14 months of work, the Saudi Football History Documentation Project revealed a report covering the period from 1902 to 2025. The project highlights the development of Saudi football and shows that Al-Wehda was the first league champion in 1957, with Al Hilal leading clubs with 21 titles.
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Gold prices have surged past $3,500 per ounce amid a weakening US dollar and rising market volatility. Institutional buyers like ETFs and central banks are purchasing gold regardless of price, supporting sustained price increases.
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European prosecutors are investigating possible criminal offenses related to an EU-funded underwater power cable project linking Europe to the Eastern Mediterranean. The project, costing 1.9 billion euros, has faced delays and questions about its cost and feasibility, while Greece confirms its commitment.
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The Ministry of Economy and Tourism held the second Bureaucracy Zeroing Forum in Dubai to highlight its efforts in developing digital services using AI and simplifying procedures for business owners and individuals, with attendance from senior government and private sector officials.
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Irfaan Ali, the outgoing president of Guyana, announced his re-election in the presidential elections held Monday, promising to lift 850,000 citizens out of poverty through oil revenues. Guyana holds the world's largest oil reserves per capita and is experiencing high economic growth.
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The German government plans to reduce its support for the Global Fund to Fight AIDS, Tuberculosis, and Malaria by 100 million euros in the coming years, allocating 370 million euros this year and 850 million euros for 2026-2028, according to the Ministry of Finance.
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The Russian Foreign Ministry announced upcoming meetings between Russian Foreign Minister Sergey Lavrov and his counterparts from the Gulf Cooperation Council as part of the next round of the strategic dialogue between the two sides, during the Eastern Economic Forum in Vladivostok.
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Gold prices stabilized near record highs, supported by expectations of a US interest rate cut and anticipation of US employment data this week.
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The US dollar saw a significant decline today amid sharp market volatility, influenced by weak US labor market data and bond market tensions, boosting expectations of an interest rate cut this month.
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