The report from Saudi Arabia's sovereign wealth fund (Public Investment Fund, PIF) indicates a 60% decrease in its net profit for 2024. PIF's net profit was 25.8 billion Saudi riyals ($6.9 billion) last year, compared to 64.4 billion riyals the previous year.  The reduction in the indicator was driven by elevated interest rates, inflation, and write-offs in project costs, primarily...

Israel's stock exchange reached an all-time peak amid the nation's war with Iran, as investors speculate that Israel will come out of the conflict more secure, Bloomberg states. The blue-chip TA-35 index has increased by 6.8% since Israel launched its initial attacks on Iran on June 13, reaching its highest point following the U.S. bombing of nuclear facilities on Sunday.  The TA-35 and...

The Financial Times reports, based on its analysis of crypto wallets, that transactions totaling approximately $9.3 billion occurred with a ruble-linked cryptocurrency named A7A5 over a span of four months. A7A5 is a stablecoin linked to the ruble at 1:1 ratio, launched in Kyrgyzstan in February 2025. The newspaper, referencing analysts, reports that this token is supposedly designed for...

The Conference Board reported that the consumer confidence index in the US declined to 93 points in June, as calculated by the research organization. The updated figures show that the indicator value was 98.4 points in May, rather than the previously stated 98 points.  According to Trading Economics, experts anticipated that the index would increase to 100 points from the previously...

Global liquefied natural gas supply chains produce approximately 350 million tons of carbon dioxide equivalent annually, comparable to the yearly emissions of Italy; however, these emissions could be reduced by 60% for $100 billion, according to Bloomberg, referencing a report from the International Energy Agency (IEA). Simultaneously, merely decreasing methane leaks could lower yearly emissions...

UBS analysts forecast that the worldwide market for humanoid robots may reach $1.4-1.7 trillion by the year 2050. Their projections indicate that the market will see the addition of 2 million such robots in a decade, and by 2050, their total could rise to 300 million, which would assist in addressing labor shortages. The report indicates that the potential for employing robots arises from the...

Contract iPhone maker Foxconn shipped 97% of smartphones manufactured in India to the US between March and May 2025, Reuters reported, citing customs data. The figure is significantly higher than last year, when the US received about 50.3% of iPhones manufactured in India, and reflects Apple's efforts to circumvent high U.S. tariffs imposed on China, the newspaper noted. The total value of...

According to Brand Finance, the German automobile manufacturer Porsche has retained its position as the top brand in the luxury goods sector for the eighth year in a row. Concurrently, the company's value dropped by 4.6% over the previous year to reach $41.1 billion. The manufacturer of perfume Chanel secured second place (+45.4%, reaching $37.9 billion), while the renowned bag brand Louis...

According to the head of commodities research at Bank of America Corp. Francisco Blanch, Saudi Arabia has initiated a strategy characterized by a prolonged price war aimed at reclaiming its lost share in the global oil market, as reported to Bloomberg TV. “This price competition will not be sudden and temporary, but rather extended and gradual,” he stated.  The analyst indicated this is...