Updates on the local and global economy and financial markets.
Cryptocurrency markets witnessed a noticeable decline at the beginning of August, affected by a wave of risk aversion following U.S. President Donald Trump's announcement of new tariffs. Bitcoin, the leading digital currency, recorded a 3% drop.
Gold markets saw a significant rise on the evening of Friday, August 1, supported by weaker-than-expected U.S. jobs data, which bolstered expectations for interest rate cuts by the Federal Reserve, alongside rising demand for the yellow metal.
The Silicon Technology and Digital Transformation Summit kicked off on Thursday, July 31st, at the Sheraton Hotel in Aleppo, under the patronage of the city's governor, Engineer Azzam Al-Ghareeb, to be the first major technical event witnessed by the country after the liberation phase.
Oil prices witnessed an increase during trading on Friday, August 1, after dropping by over 1% in the previous session, amid traders' assessment of the potential repercussions of the new US tariffs, which could negatively affect economic activity
Gold prices witnessed a limited decline during today's trading on Friday, August 1, heading towards a weekly loss amid the rise of the US dollar.
President Donald Trump signed an executive order on Thursday, July 31, increasing tariffs on imports from Canada from 25% to 35%, with the new rate taking effect starting Friday, August 1.
The US Treasury Department imposes new sanctions on an international network supporting the Iranian drone program, in an escalation reflecting the growing tension between Washington and Tehran, threatening the stability of the region.
Saudi television reported today, Thursday, that the kingdom recorded a deficit of 34 billion riyals, equivalent to 9.06 billion dollars, in the second quarter of 2025, as its oil revenues reached 151 billion riyals.
The Syrian Minister of Economy and Industry, Dr. Mohammad Nidal Al-Shaar, inaugurated the Companies Directorate in the building of the General Administration of Internal Trade and Consumer Protection in Damascus today, Thursday, after its rehabilitation and the development of the services it provides, enhancing the investment environment and improving the business climate in Syria.
The official meeting between the Russian Foreign Minister Sergey Lavrov and his Syrian counterpart Asaad Shibanee began in Moscow on Thursday for the first time since the overthrow of the former Syrian President Bashar al-Assad.
Oil prices witnessed a limited decline during trading on Thursday, July 31, as investors focused on evaluating the risks of supply shortages amidst U.S. escalation towards Russia and China, along with the rise in U.S. oil inventories.
Gold prices witnessed a noticeable stabilization during trading on Thursday, July 31, following significant losses on Wednesday, where they dropped to their lowest levels in a month, amidst a state of uncertainty caused by statements made by US President Donald Trump regarding the country's trade policy.