Gold steadied on Friday after a rally to six-week highs ran out of steam, but it remained on track for the biggest weekly rise since mid-January as more bad economic data from China battered financial markets.
Gold slid more than one per cent to its lowest since 2010 on Friday (July 24), on course for its biggest weekly loss in nine months, as strong US jobs data helped deepen this week's rout and fuelled fears the metal has some way to fall yet.
Saudi Arabia is likely to remain the dominant construction market in the GCC for the foreseeable future, with an estimated $200 billion spend in construction planned over the next two years and much more in the pipeline, according to a report.
Gold held near two-week highs on Friday, on track for its biggest weekly jump since January, after the US Federal Reserve sounded a cautious note on interest rates, arresting a dollar rally.
The US currency headed for its worst we
Gold edged down on Friday and was heading for its biggest monthly loss since September as European shares traded near seven-year highs and upbeat US data supported expectations of a rate hike by the Federal Reserve this year.
Vince Camuto, a New York-based footwear brand and lifestyle powerhouse, has recently launched the ‘World’s Biggest Vince Camuto’ store in Abu Dhabi’s Yas Mall.
The brand is designed for the style-savvy and
Gold was on course for its biggest weekly fall in two months despite edging higher on Friday, a day after a two per cent slide on expectations for a US interest rate rise.
Investors took some profits on Thursday on concern that st
Work on the first phase of turning the old Sitra Bridge into Bahrain's biggest corniche has been completed.
It cost the Works Ministry BD3.362 million ($8.8 million) and was carried out by Al Hassanian Company, which disassemb
Egypt is planning to build the biggest car tyre factory in the Middle East at a cost of 600 million Egyptian pounds ($109 million), the state news agency Mena quoted an industry executive as saying on Saturday.
Egypt has tried to spur indu