United Arab Emirates President Sheikh Mohammed bin Zayed Al Nahyan's tour of Gulf countries is aimed at coordinating positions after Tuesday's Israeli attack on Hamas leaders in Doha, his diplomatic adviser said on Thursday. "The President's Gulf tour reflects a deep conviction in strengthening coordination and cooperation, and in reinforcing the concept of a common destiny," Anwar Gargash said in a post on X. Israel attempted on Tuesday to kill Hamas political leaders in an airstrike on the Qatari capital, escalating its military campaign in the Middle East and prompting a flurry of...
U.S. business activity expanded at a faster pace in July as services-sector firms shrugged off concerns over government policies, though manufacturing activity contracted for the first time this year. The S&P Global Flash U.S. Composite PMI--a monthly gauge of activity in both the manufacturing and services sectors--rose to 54.6 in July from 52.9 in June, a survey showed Thursday. The reading above 50 suggests overall activity continued to expand, this time at a faster pace. However, business growth became increasingly unbalanced, as manufacturing weakened in contrast to a...
Initial jobless claims in the US fell by 4,000 from the previous week to 217,000 in the third week of July, well under market expectations that they would increase to 227,000. It was the sixth consecutive decline in initial claims to the lowest since April, extending the period of relative robustness in the US labor market following brief alarms earlier in the year. On the other hand, outstanding claims inched higher to 1,955,000 in the earlier week, marginally below market expectations but remaining at the second highest reading since November of 2021, reflecting a slowdown in the hiring...
The European Central Bank (ECB) is on track to leave its key interest rates unchanged after its July policy meeting, after having reduced rates at each of its last seven meetings. The decision will be announced on Thursday at 12:15 GMT. The interest rate decision will be followed by ECB President Christine Lagarde's press conference at 12:45 GMT. The ECB policy announcements will likely have a significant impact on the EUR/USD performance, as the Euro (EUR) is expected to experience intense volatility following the decision and during President Lagarde's press conference. With a...
The S&P Global UK Services PMI fell to 51.2 in July 2025 from 52.8 in June, compared to market forecasts of 53, according to preliminary estimates. Service providers reported that fragile domestic economic conditions and heightened geopolitical uncertainty weighed on sales pipelines. New orders in the services sector fell to their lowest level since April, with demand from abroad declining. The sector also saw a sharper decline in employment. On the pricing front, selling prices rose at a faster pace. Despite these challenges, private sector firms, on balance, remain optimistic,...
British business activity grew only weakly in July and employers cut jobs at the fastest pace in five months, according to a survey that is likely to add to speculation about a Bank of England interest rate cut next month. The S&P Global UK Composite Purchasing Managers' Index (PMI), published on Thursday, slowed to 51.0 points from 52.0 in June, not far above the 50.0 level that separates growth from contraction. A Reuters poll had forecast a smaller fall to 51.8. The survey's employment gauge dropped to 45.1, its lowest since February, with businesses in part blaming the decision by...
China's official NBS Manufacturing PMI increased to 49.7 in June 2025 from May's 49.5, matching market expectations while marking the third consecutive month of contraction in factory activity.
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Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
Less than four months ago, President Donald Trump met with Qatar's leader, praised his magnificent palace, and signed a comprehensive defense agreement with the Gulf monarchy, a key ally that hosts...