Browsing: Business
– India has launched a comprehensive review to pinpoint approximately 100 imported products that local manufacturers could scale up domestically. The Department for Promotion of Industry and Internal Trade is spearheading this effort through six specialized groups. The assessment covers
The European Investment Bank Group has approved €17.4 billion in new funding, allocating resources to power grids, nuclear energy, transportation infrastructure, public facilities, and business financing as the European Union advances its investment in energy independence and competitiveness. Among these
– Egypt’s net international reserves reached a provisional total of $55.0723 billion at the close of June 2026. This figure broke the $55 billion barrier for the first time and set a new record high. The Central Bank of Egypt
– Volkswagen is currently evaluating potential layoffs of up to 50,000 employees worldwide. The total possible reduction, including already agreed cuts in Germany, could reach 100,000. CEO Oliver Blume informed staff that current estimates indicate another 50,000 jobs could be
– The Council of the European Union approved the EU-Mexico Interim Trade Agreement on Tuesday. This marks the completion of the European Union’s internal approval process for the trade arrangement. EU and Mexican officials signed the accord at their summit
– U.S. President Donald Trump and Iraqi Prime Minister Ali al-Zaidi discussed broader economic and energy cooperation at the White House on Tuesday. Their discussions centered on oil, natural gas, electricity, commerce, and private sector investment. Trump indicated that the
Wall Street closed lower on Monday as a sharp technology selloff and surging oil prices pulled major U.S. stock indexes down. The Nasdaq Composite dropped 1.55% to 25,873.18, ending a three-session winning streak. The S&P 500 fell 0.79% to 7,515.34.
Oil prices surged nearly 10% on Monday as renewed U.S.-Iran conflict focused attention on the Strait of Hormuz. Brent crude futures for September delivery gained $7.29, or 9.6%, to settle at $83.30 a barrel. U.S. West Texas Intermediate crude rose
Gold dropped about 3% on Monday, July 13, falling below $4,000 an ounce as oil prices surged and expectations for higher U.S. interest rates strengthened. Spot gold fell to $3,996.76 per ounce, its lowest level in two weeks. U.S. gold
Oil prices climbed more than 4% on Monday, extending an earlier surge that carried Brent crude to $78.68 a barrel. Brent later rose $3.10, or 4.08%, to $79.11 by 3:25 a.m. GMT. U.S. West Texas Intermediate gained $2.95, or 4.11%,