Updates on the local and global economy and financial markets.
The Norwegian Ministry of Energy said today, Friday, that it is preparing to launch a new licensing round for oil and gas exploration in the Norwegian continental shelf, which is the first such offering for new licenses in areas that have not been explored since 2021.
Syrian-American entrepreneurs and engineers from Silicon Valley in California, in collaboration with the Ministry of Communications and Technology, organized today, Friday, the "SYNC’25 II" conference to enhance the global technology industry, held at the Seven Gates Hotel in Damascus.
India decided today to suspend its plans to purchase new weapons and aircraft from the United States, in a move described as a direct response to the high tariffs recently imposed by Washington.
Oil markets experienced a noticeable decline during trading on Friday, August 8, on track to record the worst weekly performance since late last month, amid fears of the repercussions of the U.S. tariffs that began to take effect on Thursday
Gold markets experienced strong movement on Friday, August 8, as futures contracts for the yellow metal surged to unprecedented levels supported by the United States' announcement of new tariffs on gold bullion imports.
Newmed, one of the partners in the Israeli Leviathan natural gas field, said on Thursday that the field has signed a deal worth up to 35 billion dollars to supply Egypt with natural gas, which is the largest export deal for Israel ever.
The Swiss Federal Council said today, Thursday, that it is not considering taking countermeasures in response to the new U.S. tariffs that affect nearly 60% of Swiss exports and put significant pressure on the country's export-dependent economy.
Gold prices rose during trading on Thursday, August 7, supported by investors' shift towards safe havens, following U.S. President Donald Trump's decision to impose new tariffs of 25% on Indian imports.
Chinese exports in July recorded strong growth that surpassed analysts' expectations, while imports jumped to their highest level in a year, amid ongoing trade tensions with the United States ahead of the scheduled end of the customs truce.
Toyota Motor Corporation announced its financial results for the quarter ending in July on Thursday, August 7, where operating profits exceeded analysts' expectations, despite the pressures from U.S. tariffs.
Apple announced plans to inject new investments worth $100 billion into American companies and suppliers over the next four years, during a joint announcement by the company's CEO Tim Cook and the American president.
Oil prices rose again in trading on Thursday, August 7, ending a series of losses that lasted five consecutive sessions, supported by signs of improving demand in the United States, the world's largest oil consumer.