Press Arabia

Doha: September 12 – HE Governor of Qatar Central Bank Sheikh Bandar bin Mohammed bin Saoud Al-Thani inaugurated the first annual conference on enhancing joint Gulf cooperation within the GCC Central Banks Governors Committee on the Impact of exchange rate policy, digital transformation, and artificial intelligence on financial and monetary stability in the GCC. The conference is being hosted by Qatar, coinciding with the 83rd meeting of the GCC Central Bank Governors’ Committee in Doha, as Qatar holds the current presidency.

In his opening speech, HE Sheikh Bandar expressed his gratitude to the committee and the General Secretariat for the opportunity to host this inaugural conference. He emphasized that the chosen theme reflects the critical role these topics play in the region’s economic framework, necessitating preparedness to keep pace with rapid changes.

His Excellency highlighted the importance of adopting sound exchange rate policies to ensure long-term financial and economic stability, noting that
exchange rate policy must be tailored to the specific conditions of each country. He pointed out that the GCC’s policy of pegging currencies to the U.S. dollar continues to serve as a reliable monetary tool, supporting financial stability by maintaining exchange rate stability, reducing sudden currency value fluctuations, and mitigating export revenue volatility, particularly in transactions settled in U.S. dollars.

He stressed the need for central banks in the region to balance potential risks by regularly reviewing exchange rate policies and implementing preventive and corrective measures. Additionally, His Excellency said that they must strengthen financial stability and monetary measures while developing the infrastructure of financial markets.

Regarding digital transformation and artificial intelligence (AI), His Excellency underscored the vast opportunities that fintech and AI offer in enhancing operational efficiency, product development, financial inclusion, and risk management. He cited reports sug
gesting that AI could boost productivity in the financial sector by about 30 percent and customer satisfaction by 20 percent. However, he also warned of the unknown risks associated with widespread AI adoption, which could have unforeseen effects on global financial stability, emphasizing the need for continued research and investment in knowledge to ensure successful digital transformation and AI integration.

He also acknowledged the efficiency demonstrated by fintech in improving customer services and emphasized the importance of its continued regulation to address emerging risks. He added that the potential introduction of central bank digital currencies (CBDCs) is another area that could enhance the effectiveness of future monetary policies.

In conclusion, His Excellency called for constant vigilance, flexibility, and quick responsiveness through forward-looking policies and adaptive risk management strategies in an increasingly fast-paced global economy.

HE Governor of Qatar Central Bank also particip
ated in the first panel discussion of the conference alongside HE Governor of the Saudi Central Bank Ayman Al Sayari, HE CEO of the Central Bank of Oman Tahir bin Salem Al Omari, and HE Governor of the Central Bank of Bahrain Khalid Ibrahim Hamidan.

Source: Qatar News Agency

Gold prices are advancing to an all-time high on Friday as the dollar weakened amid prospects of a US interest rate cut next week.

Spot gold rose to $2,558.19 per ounce, after hitting a record high of $2,567.93 earlier in the session. Bullion has gained 2.7% for the week so far.

US gold futures rose 0.2% to $2,586.60.

Gold prices rose more than 1% to hit a record high on Thursday, after US data signaled a slowing of the economy.

The dollar fell to a one-week low, making gold less expensive for other currency holders.

Spot silver edged 0.1% higher to $29.94 per ounce, and platinum gained 0.8% to $985.20, while palladium climbed 0.08% to $1,055.64.

Source: Qatar News Agency

Oil prices rose in Asian trade on Friday, extending a rally sparked by output disruptions in the US Gulf of Mexico caused by Hurricane Francine.

Brent crude futures rose by 32 cents, or 0.44, to $72.29 per barrel.

US West Texas Intermediate crude futures rose by 34 cents, or 0.49, to $69.31 a barrel.

If those gains hold, both benchmarks will break a streak of weekly declines, despite a rough start that saw Brent crude dip below $70 a barrel on Tuesday for the first time since late 2021.

At current levels, Brent is set for a weekly increase of about 1.7%, and WTI is set to gain over 2%.

Oil producers assessed damage and conducted safety checks on Thursday as they prepared to resume operations in the US Gulf of Mexico, as estimates emerged of the loss of supply from Francine. Official data showed nearly 42% of the region’s oil output was shut-in as of Thursday.

Source: Qatar News Agency

European stocks advanced on Friday and were poised for weekly gains, while investors shifted their focus to the US Federal Reserve ahead of a long-awaited monetary easing at its meeting next week.

The pan-European STOXX 600 index was up 0.5% at 514.4 points, with France’s CAC 40 rising 0.3% after consumer prices in the region’s second-largest economy rose 2.2% year-on-year in August, in line with its preliminary reading.

Miners rose 0.8%, as copper prices hit a two-week high on buying ahead of a Chinese holiday and amid stimulus hopes after Chinese President Xi Jinping pushed for measures to boost economic growth.

After the European Central Bank (ECB) lowered its deposit rate to 3.5% on Thursday, policymakers do not see an interest rate cut in October, and investors are now wagering on the size and extent of the rate cut by the US central bank next week.

Source: Qatar News Agency

The US administration announced Friday that it imposes significant tariff increases on Chinese imports, including a 100 percent tariff on electric vehicles, to enhance protection for strategic domestic industries.

The US Trade Representative’s Office stated that many of the tariffs, including a 100 percent tariff on Chinese electric vehicles, a 50 percent tariff on solar cells, and a 25 percent tariff on steel, aluminum, electric vehicle batteries, and key metals, will go into effect on September 27.

The 50 percent tariff on Chinese semiconductors, which now includes two new categories of polysilicon used in solar panels and silicon wafers, is set to start in 2025.

The bureau said it would keep tariff increases on lithium-ion batteries, metals and components unchanged, with electric vehicle batteries set to go up on September 27 and those for all other devices, including laptops and mobile phones, on January 1, 2026.

The adjustments to punitive tariffs on $18 billion worth of goods announced by President
Joe Biden in May were described by US economists as minimal and ignored pleas from auto industry investors to cut tariffs on graphite and other key minerals needed to make electric vehicle batteries because they still rely heavily on Chinese supplies.

The higher US tariffs come into effect as US Vice President Kamala Harris and former President Donald Trump are courting voters in auto and steel-producing states in an attempt to position themselves on a tougher line with China ahead of the November presidential election.

Source: Qatar News Agency

The price of a barrel of Kuwaiti oil rose by $1.01 to reach $73.16 per barrel in trading yesterday (Thursday) compared to $72.15 in trading the day before yesterday (Wednesday), according to the price announced by the Kuwait Petroleum Corporation.

In global markets, US West Texas Intermediate crude futures rose by $1.66 to settle at $68.97 per barrel, while Brent crude futures rose by $1.36 to settle at $71.97 per barrel.

Source: Qatar News Agency

Oman oil price (November delivery 2024) today reached USD 72.72 per barrel (pb), comprising a rise by USD 0.80 compared to the price of yesterday “Thursday” which stood at USD 71.92 pb The average price of Oman oil (September delivery 2024) stabilized at 83.85 US Dollars per barrel, thus 1.35 US Dollar per barrel higher than August delivery 2024.

Source: Qatar News Agency

Ramallah – Ma’an – The Palestinian Central Bureau of Statistics said that the consumer price index in Palestine recorded an increase of 1.72% during August 2024 compared to July 2024, by 1.96% in the Gaza Strip, 1.55%, and 1.32% in Jerusalem.

The statistics explained in a statement, today, Thursday, that the increase in prices in Palestine resulted from the increase in the prices of fresh vegetables by 40.53%, the prices of potatoes by 29.69%, the prices of dried vegetables by 24.32%, the prices of eggs by 17.90%, the prices of fresh fruits by 6.24%, the prices of liquid fuels used as fuel for cars (gasoline) by 2.95%, the prices of vegetable oils by 1.90%, and the prices of fresh chicken by 1.52%, despite the decrease in the prices of liquid fuels used as fuel for cars (diesel) by 11.59%.

He pointed out that when comparing prices during August 2024 with August 2023, the data indicates an increase in the consumer price index in Palestine by 53.17% (by 248.36% in the Gaza Strip, by 4.70% in Jerusalem, and by
3.00% in the West Bank).

The cost of living index in the Gaza Strip rises

The consumer price index in the Gaza Strip recorded an increase of 1.96% during August 2024 compared to July 2024.

The main reason for the rise in the cost of living index in the Gaza Strip is the rise in commodity prices. The prices of the following commodities in the Gaza Strip rose to an average of: greenhouse tomatoes 20 shekels/kg, zucchini 14 shekels/kg, eggplant 10 shekels/kg, hot peppers 52 shekels/kg, greenhouse cucumbers 15 shekels/kg, potatoes 12 shekels/kg, dried onions 9 shekels/kg, dried garlic 22 shekels/kg, eggs 38 shekels/2kg, Kamaj bread 3.25 shekels/kg, lemons and bananas 11 shekels/kg each, apples 19 shekels/1kg, sea bream 140 shekels/kg, gasoline 160 shekels/liter, and olive oil 60 shekels/kg. It should be noted that the price levels of these commodities are still much higher than they were before the aggression. Israeli occupation of the Gaza Strip.

The cost of living index in the West Bank has risen:

The cons
umer price index in the West Bank recorded an increase of 1.55% during August 2024 compared to July 2024, due to the increase in the prices of fresh vegetables by 38.57%, the prices of potatoes by 19.93%, the prices of eggs by 17.94%, the prices of dried vegetables by 9.96%, the prices of fresh chicken by 9.08%, the prices of fresh fruits by 2.39%, and the prices of vegetable oils by 1.09%, despite the decrease in the prices of liquid fuels used as fuel for cars “diesel” by 2.82%, and “gasoline” by 1.05%.

The prices of the following commodities in the West Bank increased to an average of: cluster tomatoes 10 shekels/kg, zucchini 8 shekels/kg, eggplant 4 shekels/kg, cauliflower 7 shekels/kg, cabbage 6 shekels/kg, greenhouse cucumbers 5 shekels/kg, potatoes 6 shekels/kg, eggs 21 shekels/2kg, dried onions 4 shekels/kg, chicken 16 shekels/kg, dates 12 shekels/1kg, avocado 19 shekels/1kg, and olive oil 35 shekels/kg.

The cost of living index in Jerusalem is rising:

The consumer price index in Jerusalem recorded
an increase of 1.32% during August 2024 compared to July 2024, as a result of the increase in the prices of fresh vegetables by 23.92%, the prices of imported cigarettes by 13.29%, the prices of fresh fruits by 4.01%, the prices of dried vegetables by 3.97%, and the prices of cereal flour “white flour” by 2.60%, despite the decrease in the prices of vegetable oils by 4.16%, the prices of liquid fuels used as fuel for cars “diesel” by 0.95%, “gasoline” by 0.95%, and the prices of fresh chicken by 0.82%.

The prices of the following goods increased in Jerusalem, reaching an average of: cluster tomatoes 15 shekels/kg, zucchini 12 shekels/kg, eggplant 7 shekels/kg, cauliflower and cabbage 9 shekels/kg each, Marlboro cigarettes 39 shekels/pack of 20 cigarettes, Winston cigarettes 37 shekels/pack of 20 cigarettes, lemons 8 shekels/kg, bananas 6 shekels/1kg, apples 12 shekels/1kg, pears 13 shekels/kg, avocados 25 shekels/1kg, dried onions 5 shekels/kg, and white flour 6 shekels/kg.

Source: Maan News Agency

Together – Cryptocurrency trading has become an exciting adventure for many investors around the world. Among all the cryptocurrencies, Bitcoin stands out. It is a new type of decentralized digital currency that has changed the way we think about financial assets. Bitcoin started with the cypherpunk movement in the 1990s, and it began to appear and spread since 2009 by Satoshi Nakamoto. This cryptocurrency allows people to send and receive money with complete security and privacy without the need for intermediaries. The price of Bitcoin has now reached about $ 1.19 trillion with 19.74 million coins in use. This currency is not managed by any government body or single group. Instead, it uses blockchain technology to be always available, secure and fair. This means that all Bitcoin transactions are public and cannot be completed twice. As for the future state, it is likely that there will only be 21 million Bitcoins in existence. The last one will be found by the year 2140.

What is cryptocurrency trading?

Cry
ptocurrency trading refers to the buying, selling, or exchanging of digital currencies for financial gain. This market operates 24/7, giving traders the opportunity to dive into this market at any time. Many investors seek to take advantage of price fluctuations, or in other words, buy when prices are low and sell when they are high. One of the biggest attractions of Bitcoin trading is its high potential for significant financial returns. However, it is important to remember that large profits come with risks.

Bitcoin’s Rise in Popularity

Bitcoin’s popularity has surged significantly over the past few years. It accounted for around 60% of the total cryptocurrency market investment value as of late 2023. One reason for this surge is increased interest from institutional investors. Large corporations and investment firms are now buying Bitcoin to diversify their portfolios. This interest is boosting its price significantly, further cementing its position as a leading currency.

Some Key Facts About Bitcoin

Bitcoin is the most widely traded cryptocurrency in the world, and represents the largest share of the cryptocurrency market.

The current price of Bitcoin is $60,245.55, with a 24-hour trading volume of $17.92 billion.

This currency has witnessed remarkable development in recent years, as it rose by an astonishing 9,000,000% between 2010 and 2020.

Bitcoin has a market cap of $1.19 trillion and a circulating supply of 19.74 million.

Bitcoin price has decreased by -1.17% in the last 24 hours, but it will recover and rise soon.

Bitcoin price volatility

The price of Bitcoin has changed a lot since its inception. It was worth just a fraction of a dollar in 2010. Now, its value changes dramatically. There are many things that affect the price fluctuations of Bitcoin, which makes it an interesting investment.

Bitcoin Price Trend Analysis

Keeping an eye on real-world estimates and statistics is essential for anyone who wants to trade. Bitcoin’s price doesn’t stay the same; it changes frequently.

In 2023,
its price has seen many ups and downs according to CoinMarketCap, ranging from a low of $16,000 in early 2023 to a high of $38,000 by the end of it.

In addition, it is necessary to look at the factors that drive these price changes, including:

Market demand: The more people want to buy Bitcoin, the more likely it will increase in price.

Economic factors: Global economic conditions can affect Bitcoin. Inflation rates or market crashes in traditional commodities usually lead to increased interest in Bitcoin.

Technological innovations: or any changes that occur in how this currency is used.

Latest Bitcoin Trends to Watch

The status and price of Bitcoin change regularly due to several different factors. This is due to the following:

Retailer Approval

As more businesses accept Bitcoin as a form of payment, this has boosted business and attracted new merchants. The more people use Bitcoin, the more attractive it becomes, and the higher its price will be.

Organization talks

Countries are discussing how
to regulate cryptocurrencies. Understanding the regulations can help traders make better decisions. Developments in this regulation could also significantly boost the value of Bitcoin.

Environmental impact

Environmental concerns surrounding Bitcoin mining are growing. Efforts to make mining more energy efficient could play a significant role in determining the future price of Bitcoin.

Tips for Successful Cryptocurrency Trading

For beginners entering the world of cryptocurrency trading , we recommend taking some of the following tips into consideration when trading Bitcoin:

Do your research well: Study market conditions and past price charts.

Manage your risks: Only invest what you can afford to lose and consider diversifying your investment portfolio.

Be aware of trading fees: Some platforms charge different prices for buying or selling Bitcoin.

Use a trusted platform: Make sure the trading platform has strong security and a good reputation.

Be patient: Emotions can affect your decision-making p
rocess, especially when there are price fluctuations. Waiting or sticking to a plan or strategy may lead to better results.

Source: Maan News Agency

Together – Cryptocurrency trading has become an exciting adventure for many investors around the world. Among all the cryptocurrencies, Bitcoin stands out. It is a new type of decentralized digital currency that has changed the way we think about financial assets. Bitcoin started with the cypherpunk movement in the 1990s, and it began to appear and spread since 2009 by Satoshi Nakamoto. This cryptocurrency allows people to send and receive money with complete security and privacy without the need for intermediaries. The price of Bitcoin has now reached about $ 1.19 trillion with 19.74 million coins in use. This currency is not managed by any government body or single group. Instead, it uses blockchain technology to be always available, secure and fair. This means that all Bitcoin transactions are public and cannot be completed twice. As for the future state, it is likely that there will only be 21 million Bitcoins in existence. The last one will be found by the year 2140.

What is cryptocurrency trading?

Cry
ptocurrency trading refers to the buying, selling, or exchanging of digital currencies for financial gain. This market operates 24/7, giving traders the opportunity to dive into this market at any time. Many investors seek to take advantage of price fluctuations, or in other words, buy when prices are low and sell when they are high. One of the biggest attractions of Bitcoin trading is its high potential for significant financial returns. However, it is important to remember that large profits come with risks.

Bitcoin’s Rise in Popularity

Bitcoin’s popularity has surged significantly over the past few years. It accounted for around 60% of the total cryptocurrency market investment value as of late 2023. One reason for this surge is increased interest from institutional investors. Large corporations and investment firms are now buying Bitcoin to diversify their portfolios. This interest is boosting its price significantly, further cementing its position as a leading currency.

Some Key Facts About Bitcoin

Bitcoin is the most widely traded cryptocurrency in the world, and represents the largest share of the cryptocurrency market.

The current price of Bitcoin is $60,245.55, with a 24-hour trading volume of $17.92 billion.

This currency has witnessed remarkable development in recent years, as it rose by an astonishing 9,000,000% between 2010 and 2020.

Bitcoin has a market cap of $1.19 trillion and a circulating supply of 19.74 million.

Bitcoin price has decreased by -1.17% in the last 24 hours, but it will recover and rise soon.

Bitcoin price volatility

The price of Bitcoin has changed a lot since its inception. It was worth just a fraction of a dollar in 2010. Now, its value changes dramatically. There are many things that affect the price fluctuations of Bitcoin, which makes it an interesting investment.

Bitcoin Price Trend Analysis

Keeping an eye on real-world estimates and statistics is essential for anyone who wants to trade. Bitcoin’s price doesn’t stay the same; it changes frequently.

In 2023,
its price has seen many ups and downs according to CoinMarketCap, ranging from a low of $16,000 in early 2023 to a high of $38,000 by the end of it.

In addition, it is necessary to look at the factors that drive these price changes, including:

Market demand: The more people want to buy Bitcoin, the more likely it will increase in price.

Economic factors: Global economic conditions can affect Bitcoin. Inflation rates or market crashes in traditional commodities usually lead to increased interest in Bitcoin.

Technological innovations: or any changes that occur in how this currency is used.

Latest Bitcoin Trends to Watch

The status and price of Bitcoin change regularly due to several different factors. This is due to the following:

Retailer Approval

As more businesses accept Bitcoin as a form of payment, this has boosted business and attracted new merchants. The more people use Bitcoin, the more attractive it becomes, and the higher its price will be.

Organization talks

Countries are discussing how
to regulate cryptocurrencies. Understanding the regulations can help traders make better decisions. Developments in this regulation could also significantly boost the value of Bitcoin.

Environmental impact

Environmental concerns surrounding Bitcoin mining are growing. Efforts to make mining more energy efficient could play a significant role in determining the future price of Bitcoin.

Tips for Successful Cryptocurrency Trading

For beginners entering the world of cryptocurrency trading , we recommend taking some of the following tips into consideration when trading Bitcoin:

Do your research well: Study market conditions and past price charts.

Manage your risks: Only invest what you can afford to lose and consider diversifying your investment portfolio.

Be aware of trading fees: Some platforms charge different prices for buying or selling Bitcoin.

Use a trusted platform: Make sure the trading platform has strong security and a good reputation.

Be patient: Emotions can affect your decision-making p
rocess, especially when there are price fluctuations. Waiting or sticking to a plan or strategy may lead to better results.

Source: Maan News Agency