Business

Bitcoin’s price surged past $50,000 on Monday for the first time since May, although its rebound from a months-long slump lost a little steam. The world’s largest cryptocurrency was last up 1.19% at $49,888. It had risen as high as $50,562 as investors bet that the prospect of more U.S. …

Moscow pledged retaliatory measures after a new set of sanctions imposed by the United States on a Russian ship and two companies involved in the Nord Stream 2 gas pipeline, Russia’s foreign ministry said in a statement on Saturday. The $11 billion projects, which will double the existing Nord Stream …

The third wave of the Coronavirus pandemic is abating steadily in Iraq with both case and death tolls declining, member of the Ministry of Health’s media team Roba Falah Hasan said on Saturday, warning that complacency toward the preventive measures might plunge the country into a third wave. “The drop …

Bitcoin rose 5.01 % to $49,106.4 at 22:04 GMT on Friday, adding $2,342.1 to its previous close. Bitcoin, the world’s biggest and best-known cryptocurrency, is up 77.4% from the year’s low of $27,734 on Jan. 4. Ether, the coin linked to the ethereum blockchain network, rose 3.03% to $3,281.82 on …

Oil prices rose, during trading today, Friday, moving away from its lowest level in 3 months, but it is still on its way to incur a weekly loss of more than 5%. Brent crude futures rose 0.4%, to $66.69 a barrel, after falling 2.6% yesterday, Thursday, to the lowest closing …

Oil prices were down for a seventh straight session on Friday near three-month lows and heading for a weekly loss of over 7% as new lockdowns in countries facing surging cases of the COVID-19 Delta variant dampened the outlook for fuel demand. Broader investor risk aversion also weighed on oil …

Oil prices skidded on Thursday for a sixth session, hitting lows not seen since May, pressured by a stronger U.S. dollar and concerns about weaker demand as COVID-19 cases rise. The oil market rallied throughout the first half of 2021, but the newest wave of coronavirus infections throughout the world …

Jordanian media reported that Amman and Baghdad discussed the required work mechanisms for the joint economic city project. According to the Jordanian al-Mamlakah TV, the two sides confirmed during an online meeting that the project, which comes within the framework of cooperation projects between Jordan and Iraq, aims to enhance …

Global shares slid on Monday after a raft of Chinese economic indicators showed a surprisingly sharp slowdown in the engine of global growth, just as much of the world race to stem the spread of the Delta variant of COVID-19 with vaccinations. A 10-day run of gains for European stocks …

India will launch a 100 trillion rupee ($1.35 trillion) national infrastructure plan that will help generate jobs and expand use of cleaner fuels to achieve the country’s climate goals, Prime Minister Narendra Modi said on Sunday. The infrastructure program, called “Gati Shakti”, will help boost productivity of industries and boost …

Indonesia’s capital reopened its retail malls this week to an exclusive crowd – shoppers vaccinated against coronavirus. With restrictions still in place in much of Indonesia, Jakarta’s malls are allowed to operate at 25% capacity to try to keep the economy moving, but customers must prove via a smartphone application …

Oil prices declined on Thursday after the International Energy Agency (IEA) said the spread of the Delta variant of the coronavirus would slow the recovery of global oil demand. Brent crude futures were down 26 cents, or 0.36%, at $71.18 a barrel by 11212 GMT, after earlier rising to a …

Lebanon’s caretaker prime minister said on Thursday the central bank had broken the law by deciding to remove fuel subsidies, and the damage done would outweigh the benefits of preserving the mandatory reserves which the bank is trying to protect. A loss of fuel subsidies would open a new phase …

U.S. President Joe Biden’s administration on Wednesday urged OPEC and its allies to boost oil output to tackle rising gasoline prices that they see as a threat to the global economic recovery. The request reflects the White House’s willingness to engage major world oil producers for more supply to help …

Wall Street’s main indexes edged higher on Tuesday, helped by a rebound in oil stocks, while investors awaited a Senate vote on a much-anticipated $1 trillion infrastructure bill. Six of the 11 major S&P sectors rose in early trading. The energy sector (.SPNY) tracked a recovery in oil prices from …

Oil prices rose more than 1% on Tuesday, recouping some of the losses in the previous session when prices hit a three-week low, but gains are likely to be limited on worries that rising COVID-19 cases and restrictions in China will dent fuel demand. Brent crude was up by 84 …

The governor of disaster-hit North Rhine-Westphalia has said that a planned fund to help the worst-affected parts of Germany recover from devastating fatal floods in July will need between €20 and 30 billion. Speaking on Monday in a special session of the Düsseldorf state parliament, Armin Laschet, leader of the …

The United Kingdom’s manufacturing of goods from cars to fridges is getting hit by Brexit red tape, which holds up supply chains, according to The Independent. With the possibility of vital parts for such goods falling into a legal limbo, manufacturing is at risk from serious disruption, it reported. It …

Oil prices fell by 4% on Monday, extending last week’s steep losses on the back of a rising U.S. dollar and concerns that new coronavirus-related restrictions in Asia, especially China, could slow a global recovery in fuel demand. A United Nations panel’s dire warning on climate change also added to …

The price of Bitcoin continues to rise, hitting the highest level since mid-May at over $44,000 despite fears that the United States may pass cryptocurrency tax reporting legislation under the new Infrastructure Investment and Jobs Act. According to the Binance cryptocurrency exchange, as of 12:00 GMT on Sunday, Bitcoin traded …