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Gold jumps 2% to two-week high as weak U.S. data fuels Fed rate cut bets

November 10th, 2025 - 10:45 GMT

Albawaba Business

Gold jumps 2% to two-week high as weak U.S. data fuels Fed rate cut bets

ALBAWABA- Gold prices surged 2% on Monday to their highest level in two weeks, driven by mounting expectations of a Federal Reserve rate cut next month and renewed safe-haven demand amid global economic and geopolitical uncertainty. A softer U.S. dollar further bolstered bullion’s appeal. According to Reuters , spot gold climbed 2% to $4,078.45 per ounce by 09:56 GMT—its strongest level since October 27—while U.S. gold futures for December delivery ...

Kuwait is looking into offering 20 to 30 percent of the four subsidiaries’ stocks for public subscription, keeping the majority of stock in government lock. (Shutterstock)

July 14th, 2016 - 04:54 GMT

Kuwait mulls partial privatization of its oil industry

Overall, crude oil prices remain suppressed after breaching the $50 threshold earlier this year. (Shutterstock)

July 13th, 2016 - 08:00 GMT

Oil prices rise with release of OPEC report, but short term pressures remain

Burhan Al Hashemi, Managing Director, ENOC Marketing of which EPPCO Aviation

July 12th, 2016 - 09:17 GMT

ENOC’s custom-made idea to refuel Boeing 737s wins Ideas Arabia Competition 2016 in Health and Safety category

The contract comes as crude oil prices are holding steady in the $50 per barrel range, after plummeting below $30 per barrel early this year. (Shutterstock)

July 10th, 2016 - 01:00 GMT

Singapore's Swiber Holdings wins $215M pipeline project contract in Qatar

Solar energy technologies have not been adopted in the past because of their relatively high cost, but trends are changing. (Shutterstock)

July 10th, 2016 - 11:30 GMT

Solar energy could meet 20 percent of Qatar's power needs by 2030

Further delays in passing the decrees two decrees could jeopardize the chances of Lebanon drilling for gas in the coming few years. (File photo)

July 10th, 2016 - 06:00 GMT

Lebanon to offer ten offshore oil blocks up for international bids

After the war, BP and Shell won big contracts to develop oil fields in the south of Iraq, (AFP/Dan Kitwood)

July 8th, 2016 - 05:54 GMT

Chilcot report: UK oil companies were 'well placed' to reap contracts after Iraq invasion

Analysts at Morgan Stanley said there were also signs prices could fall again soon, pointing at stalling gasoline demand and more oil from Canada and Nigeria after production problems. (AFP/Mohammed Al Shaikh)

July 5th, 2016 - 07:00 GMT

Saudi oil minister optimistic market is 'heading towards balance'

License holders will be required to utilize only best practice technology that reduces the environmental impact of natural gas and oil exploration and production operations. (File photo)

July 3rd, 2016 - 01:00 GMT

Israel to award 60 new oil and gas licenses for offshore exploration

One of the thorny issues Lebanon may need to solve before embarking on gas exploration is the 870 square kilometer disputed zone near the southern territorial waters. (Shutterstock)

July 3rd, 2016 - 09:00 GMT

Lebanon moves closer to removing hurdles to offshore gas exploration

Gulf Keystone Petroleum said said it ended 2015 with an average daily production rate of 36,000 barrels of oil per day at Shaikan and the field is now on pace to reach 55,000 bpd potentially. (File photo)

July 3rd, 2016 - 07:45 GMT

KRG to receive $10M payout bonus for bumper production at Shaikan oil field

PDO Managing Director said the money raised will help to finance business plans, as well as create more jobs and training opportunities for Omanis. (PDO)

June 30th, 2016 - 07:00 GMT

Petroleum Development Oman raises $4B for project financing