As the nation fights to control surging inflation, which hit a 20-year high of 71% on Thursday, the central bank of Argentina increased its benchmark interest rate by 950 basis points. The central bank increased the benchmark rate for the 28-day term from 60% to 69.5%. On Thursday, fresh inflation figures highlighted the urgency guiding … Read more
The yield on 10-year Treasury notes fell 0.13 percentage points to 2.88 percent. Over the past three days, the yield has decreased by approximately 0.3 percentage points. US stocks ended the day higher, with the benchmark S&P 500 index gaining 1.1%. On Friday, US government bonds surged after a bleak assessment of the nation’s manufacturing … Read more
FIFA increases the maximum squad limit by three for this year’s World Cup. Teams will be able to select up to 26 players for the tournament in Qatar. FIFA said the change was due to the unusual timing of the tournament as well as the impact of COVID-19 on squads. Groups will actually want to … Read more
General Motors raises the price of its Hummer EV pickup truck by $6,250 to $110,000. The increase comes as it seeks to mitigate higher commodity and shipping costs amid high demand for cars and trucks. The company has been able to offset $5 billion in higher supply chain costs by raising prices and cutting expenses, … Read more
Oil prices fall after the Federal Reserve raises interest rates. Data shows a build in U.S. crude stocks and distillate inventories, while gasoline posts drawdown. A stronger dollar makes oil more expensive for holders of other currencies, curtailing demand. Drivers around the world were tolerating record-high prices for road fuels, data showed. Oil costs fell … Read more
RIYADH: Egypt’s grocery delivery startup Breadfast has raised a $26 million Series A round, co-led by Vostok New Ventures and Endure Capital. JAM Fund, YC Continuity Fund, Shorooq Partners, 4DX Ventures, and Flexport also participated in the funding deal, MAGNiTT reported. The startup will use the money to shorten its delivery time from 60 minutes … Read more
