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Wall Street records sharpest plunge since 2020, Dow drops 1100 points
On Wednesday, the Dow Jones Industrial Average recorded its biggest plunge since 2020 after another prominent retail company warned of escalating prices, reinforcing investors' apprehensions about future inflation, and triggering the…
Lebanese central bank condemned for human rights violations by UN
A United Nations report accuses Lebanon's central bank and the banking sector of human rights violations as a result of their alleged role in one of the world's worst economic and financial crises. A UN report criticizing Lebanon's…
Elon Musk puts $44 billion Twitter deal on hold due to fake accounts
Before finalizing his agreement to buy Twitter, Elon Musk wants to know more details about the number of fake accounts on the social media platform. He said that he wants more details about how many Twitter accounts are fake or spam, so he…
Bitcoin plummets below $27K reversing 2021 gains as crypto risk escalates
Bitcoin fell below $27,000 for the first time in over 16 months on Thursday. This was amid concerns about rising inflation and the collapse of a controversial stablecoin project. According to Bitstamp data, Bitcoin sank as low as $26,595.52…
Meeting between Oman and Egypt marks Muscat Arab Digital Capital 2022
Eng. Said Hamoud Al Ma'awali, Minister of Transport, Communications and Information Technology, met online with Dr. Amr Talaat, Egyptian Minister of Communications and Information Technology. Al Ma'awali commended Oman for its win in the…
Small decrease in world food prices in April is a welcome relief – FAO
The UN Food and Agricultural Organization (FAO) reports that world food prices decreased at the end of April after reaching an all-time high in March amid the conflict in Ukraine. In April, the FAO Food Price Index was 158.2 points, down…
AD Ports Group signs agreements for port projects in Egypt
A Term Sheet and a Head of Terms agreement have been signed between AD Ports Group and the Red Sea Ports Authority for major port projects along Egypt's coastline. In the first agreement, AD Ports Group will develop, operate, and manage a…
Citigroup Inc employee error wiped out $315 billion from Europe stocks
After a sudden 8% decline in Swedish stocks, Citigroup Inc. said its London trading desk caused a flash crash in Europe that sent shares across the continent tumbling. A trader at the New York-based bank made an error when entering a…
GDP of Saudi Arabia grows by 9.6 percent in Q1 2022
According to the Saudi General Authority for Statistics (GASTAT), it has published on its website flash estimates of Saudi gross domestic product (GDP) growth for the first quarter of 2022. In the first quarter of 2022, the Saudi GDP grew…
Manufacturing in China continues to deteriorate as lockdowns persist
A survey released on Saturday showed that the manufacturing sector in China fell to a six-month slump in April due to lockdowns that were carried out in Shanghai and other manufacturing hubs in the wake of COVID-19 outbreaks that were…