Traders work during the opening bell at the New York Stock Exchange on Friday. Agence France-Presse
Robust earnings from Google-owner Alphabet and Twitter took the S&P 500 and Nasdaq indexes close to record levels on Friday, with data showing the domestic economy slowed lesser than expected in the second quarter providing support.
For the first time since the Great Recession a decade ago, the US Federal Reserve is poised to cut interest rates, shoring up America’s defenses as the global economy weakens.
Japan’s economic growth unexpectedly accelerated in January-March, driven by net contributions from exports and defying forecasts for a contraction in the world’s third-largest economy. However, the surprise expansion was mostly caused by imports declining faster than exports, likely reflecting weak domestic demand,
NASA awarded billionaire entrepreneur Elon Musk’s space company SpaceX a $2.9 billion contract to build a spacecraft to bring astronauts to the moon as early as 2024, the agency said on Friday, picking it over Jeff Bezos’ Blue Origin and defense contractor Dynetics Inc.
Dubai Customs completed 5 million transactions in Q1 this year, according to latest figures. This is equivalent to double the number of transactions in the same period in pre-pandemic 2019, and 20% more than Q1 2020, in which 4 million transactions were completed.
US homebuilding surged to nearly a 15-year high in March, but soaring lumber prices amid supply constraints could limit builders’ capacity to boost production and ease a shortage of homes that is threatening to slow housing market momentum.
The Opec Fund for International Development has announced the signing of a $50 million term loan agreement with ACWA Power to support the construction and operation of a 1.5 gigawatt (GW) combined cycle gas-turbine power plant in Sirdarya, Uzbekistan.