Browsing: Business

WASHINGTON: Senior executives from the largest U.S. oil companies have told President Donald Trump that they are not prepared to make firm investment commitments in Venezuela, underscoring continued caution toward the country’s energy sector despite renewed outreach from the White House, according to people familiar with the discussions and public statements from industry leaders. Trump met this week with executives from companies including Chevron, Exxon Mobil and ConocoPhillips, urging them to consider large scale investments to help revive Venezuela’s oil production following recent political changes in the country. The president said expanded output could bolster global oil supply and contribute to lower energy prices, while…

WASHINGTON: Senior executives from the largest U.S. oil companies have told President Donald Trump that they are not prepared to make firm investment commitments in Venezuela, underscoring continued caution toward the country’s energy sector despite renewed outreach from the White House, according to people familiar with the discussions and public statements from industry leaders. Trump met this week with executives from companies including Chevron, Exxon Mobil and ConocoPhillips, urging them to consider large scale investments to help revive Venezuela’s oil production following recent political changes in the country. The president said expanded output could bolster global oil supply and contribute to lower energy prices, while…

MENA Newswire, SAN FRANCISCO: OpenAI and SoftBank Group announced a joint investment of $1 billion in SB Energy, expanding a large-scale effort to build power and data center infrastructure to support artificial intelligence computing in the United States. The investment forms part of the ongoing Stargate initiative, a multiyear program aimed at developing the physical infrastructure required for advanced AI training and deployment. Under the terms disclosed, OpenAI and SoftBank will each contribute $500 million in equity to SB Energy, a company focused on energy generation, storage, and data center development. SB Energy is majority owned by SoftBank and operates as a standalone…

CryptoWire, LONDON: Global financial markets are navigating renewed turbulence after warnings of a potential $17.3 trillion oil price shock that could reverberate across energy, currency, and digital asset sectors. The alert follows heightened geopolitical tension in South America, where the detention of Venezuelan President Nicolás Maduro by U.S. forces has disrupted expectations for global crude supply and triggered volatility in both commodities and cryptocurrencies. Oil prices fluctuated sharply in early-week trading as markets assessed potential consequences for Venezuela’s oil production and export capacity. As one of the world’s largest proven crude reserve holders and a key OPEC member, Venezuela’s stability is viewed as central to…

MENA Newswire, NEW YORK: Gold prices rose more than 1 percent on Monday, extending their recent gains as all major precious metals recorded strong performances at the start of the week. The rise marked a continuation of bullish momentum in the metals market, with gold reaching its highest level in over a week. Spot gold advanced 1.5 percent to $4,395.35 per ounce as of 01:19 GMT, maintaining its position close to record highs. The metal reached an all-time peak of $4,549.71 per ounce on December 26, 2025. U.S. gold futures for February delivery climbed 1.8 percent to $4,405.40 per ounce in early Monday…

MENA Newswire, NEW YORK, December 30, 2025: Former U.S. Treasury official Geng Ngarmboonanant has cautioned that Americans should be increasingly concerned not only about the country’s rising national debt but also about the shifting composition of those who hold it. In an opinion piece published by the media, Ngarmboonanant, who is now a managing director at JPMorgan Chase & Co. and previously served as deputy chief of staff to Treasury Secretary Janet Yellen, outlined how changes in the profile of U.S. debt holders are affecting borrowing costs and financial stability. Ngarmboonanant said that as the national debt exceeds 38 trillion dollars, the nature of…

Nvidia enters 2026 with strong analyst backing and market confidence as global AI demand drives record revenue and continued semiconductor growth.

NEW YORK, December 25, 2025: Consumer confidence has declined across major economies even as spending levels remain steady, underscoring a notable divergence between sentiment and behavior. Despite persistent concerns about inflation, high interest rates, and global economic uncertainty, households continue to sustain expenditure, supported by stable employment and gradual wage growth. In the United States, the University of Michigan’s consumer sentiment index and the Conference Board’s Consumer Confidence Index both recorded declines in recent months. Respondents cited higher prices for essentials such as housing, food, and transportation as key factors driving pessimism about personal finances. Similar trends have been observed in the eurozone, where consumer…

WASHINGTON, Dec 25: The yield on the 10-year U.S. Treasury note held steady on Tuesday as investors assessed the latest economic data and its implications for the Federal Reserve’s interest rate outlook heading into 2025. The move followed an upward revision in third-quarter U.S. gross domestic product (GDP) growth, underscoring continued strength in the economy despite elevated borrowing costs. The benchmark 10-year Treasury yield was little changed at 3.86 percent, holding near levels seen in recent sessions. The two-year yield, which closely reflects expectations for short-term monetary policy, edged lower to 4.35 percent, while the 30-year yield remained around 4.02 percent. Trading volumes were thin ahead of…

SANTA CLARA, California, December 24, 2025: Nvidia Corporation is preparing to resume exports of its H200 artificial intelligence chips to China by mid-February 2026, marking the company’s first shipments of the high-performance processors to Chinese customers since the United States eased certain export restrictions earlier this month. The planned resumption of shipments follows a shift in U.S. trade policy that allows Nvidia to supply advanced chips under newly defined regulatory parameters. According to confirmed company correspondence and regulatory filings, Nvidia has scheduled initial deliveries to major Chinese technology firms ahead of the Lunar New Year period. The first shipment will include between 5,000 and 10,000 H200 chip…