Al Ain Economic News Brief … Gold in Egypt, the Tunisia...

Al Ain Economic News Brief … Gold in Egypt, the Tunisia...
Al Ain Economic News Brief … Gold in Egypt, the Tunisia...
“Al Ain News” monitors the most prominent events in the field of economics, as part of providing a distinguished service to the reader that covers the important sector events at the regional and international levels.

Saudi companies dealt a strong blow to Turkish President Recep Tayyip Erdogan after they announced the suspension of all Turkish products imports, to increase the effectiveness of the popular boycott campaign.

The US economy stands in an unenviable position in light of the negative results and numbers it has recorded since the outbreak of the Corona pandemic last March.

A few months after the outbreak of the Lebanon movement a year ago, during which the local pound recorded a historic collapse against the US dollar, causing the citizens’ purchasing power to collapse with it.

Yi Gang, governor of the People’s Bank of China (the central bank), said in a video conference of the Group of Twenty, Thursday, that China supports the group’s proposal for an additional extension to ease the debt burden of poor countries, according to a statement on the central bank’s website, which he considered a duty of everyone.

Experts have revealed a plan led by Turkish President Recep Tayyip Erdogan to seize the wealth of Libya, for the sake of Ankara’s collapsing economy, by raising the file for the reconstruction of Libya, at a time when the capital is still under the influence of armed militias.

On Friday, Sudan signed 10 agreements to explore for gold and associated minerals, according to the mining sector of the Ministry of Energy.

The mail messages of former Secretary of State Hillary Clinton carried more burdens and scandals for the Qatari regime, which is under domestic and international pressure resulting from the boycott, at a time when international reports appear on corruption cases of its officials.

France intends to raise 20 billion euros (23 billion dollars) in equity-like loans for small companies affected by the Corona crisis, by offering government guarantees to investors for the first 2 billion euros of losses, officials said on Friday.

Gold prices declined in Egypt at the close of trading on Friday, and gave up the gains they made in the morning, at a time when global precious metal prices are heading towards the first weekly loss in 3 weeks.

US stocks benefited from positive results regarding a vaccine to combat the Coronavirus, ignoring negative results for important sectors in the US economy.

Tunisia is one of the countries that have been severely affected by the outbreak of the Coronavirus, and the pandemic is leading the country’s economy to record a decline not seen in nearly 40 years.

The President of the European Commission, Ursula von der Leyen, announced that the European Union will intensify trade negotiations with Britain, while Boris Johnson, the British Prime Minister, expects the scenario of not reaching an agreement on Brexit unless the European Union makes fundamental changes.

A few days separate the US dollar from breaking the 8-pound barrier, after the Turkish currency recorded a new low on Friday, at 7.901 per dollar.

European stocks rebounded at the end of the week’s sessions, after a series of losses incurred by the increase in infections with the Coronavirus, but hopes about the American company Pfizer vaccine returned the green color to European stock market indices.

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