Author: HeraldStar

In a day marked by broad market gains, Kosmos Energy Ltd. (KOS) bucked the trend, shedding 3.85% to close at $4.00 on Monday. This marks the company’s second consecutive day of losses. Despite the NASDAQ Composite Index rising 1.16% to 16,884.60 and the Dow Jones Industrial Average climbing 1.20% to 40,829.59, Kosmos Energy Ltd. failed to capitalize on the momentum. The company’s stock is now trading $4.28 below its 52-week high of $8.28, achieved on September 28th. Notably, trading volume surged to 9.9 million, eclipsing the 50-day average volume of 5.7 million. This decline raises concerns about the company’s performance…

China’s inflation rate came in below forecasts, intensifying concerns about potential deflation in the world’s second-largest economy. While much of the world has been battling rising prices, China now faces the opposite problem, with consumers holding off on purchases in the expectation that goods will become cheaper in the future. Deflation, or falling prices, could have significant repercussions, both within China and globally. Economists fear that as Chinese goods become cheaper, the country could “export” deflation, driving down prices worldwide. This trend could create downward pressure on global inflation, particularly as Chinese low-cost goods affect prices across multiple markets, as…

Former Lebanese central bank governor Riad Salameh has been ordered to remain in detention as part of an ongoing investigation into alleged financial crimes, including embezzlement of public funds, during his time in office, according to three judicial sources. The decision was made by investigative judge Bilal Halawi, who questioned Salameh for the first time since his detention last week. Salameh faces charges that state media reported include embezzlement, forgery, and illicit enrichment. Another hearing is scheduled for Thursday, one of the sources confirmed. Salameh’s media office stated that he would not comment publicly on the case, in compliance with…

Apple Inc. (AAPL.O) on Monday introduced its highly anticipated iPhone 16, powered by its new “Apple Intelligence” artificial intelligence (AI) software. The launch comes just hours after Chinese competitor Huawei’s (HWT.UL) tri-fold smartphone began receiving millions of pre-orders, intensifying competition in the global smartphone market. “This next generation of iPhone has been designed from the ground up for Apple Intelligence, marking the beginning of an exciting new era,” said Apple CEO Tim Cook during the product launch at Apple Park. The Cupertino-based tech giant is betting heavily on AI to encourage consumers to upgrade their devices amid slowing iPhone sales.…

The South African rand weakened against a strengthening U.S. dollar on Monday, with upcoming U.S. economic data expected to influence currency moves throughout the week. By 1533 GMT, the rand was trading at 17.8925 to the dollar, marking a 0.34% decline from its previous close. The dollar, meanwhile, rose by approximately 0.37% against a basket of major global currencies, as investors looked to Wednesday’s U.S. inflation report for potential indicators of a Federal Reserve rate cut anticipated next week. U.S. producer inflation data is also set for release this week, which could further impact market movements. “Direction in currency markets…

U.S. election administrators and Kamala Harris’ presidential campaign condemned former President Donald Trump’s recent threats to prosecute and jail “corrupt” election officials if he wins the 2024 election. The comments, made by Trump in a social media post on Saturday, were accused of fostering intimidation and potentially inciting violence, drawing sharp rebukes from both political figures and election administrators. In his post, Trump, the Republican frontrunner, vowed to pursue those he believes would commit voter fraud in the 2024 election. His statement read: “We cannot let our Country further devolve into a Third World Nation, AND WE WON’T! Those involved…

In the deadliest Israeli airstrike on Syrian territory since April, 16 people were killed and dozens wounded in overnight attacks on western Syria, Syrian state media reported on Monday. The strikes reportedly targeted military sites, marking a significant escalation in the ongoing conflict. According to Syria’s state-run news agency SANA, the strikes were launched around 11:20 p.m. (2020 GMT) and aimed at military positions in the central region. While Syrian air defenses intercepted some of the incoming missiles, 36 people were injured, with six in critical condition. Though Israel has not officially commented on the attack, which is typical in…

Germany has announced the introduction of temporary border controls at all its land borders, starting on September 16, 2024. The move, set to last for six months initially, is aimed at addressing irregular migration and safeguarding the country from potential threats, including Islamist extremism, according to the German Interior Ministry. Interior Minister Nancy Faeser stated, “We are bolstering internal security and maintaining a firm stance against irregular migration.” In recent years, Germany has taken a tougher approach to migration issues, driven by rising public concern and the increasing popularity of the far-right Alternative for Germany (AfD) party. The AfD recently…

Treasury Secretary Janet Yellen sought to calm concerns about the US economy on Saturday, stating that despite recent weak job reports, the economy remains strong and is “basically operating at full employment.” Yellen acknowledged that job growth has slowed compared to the post-pandemic “hiring frenzy,” but emphasized that the economy is “deep into a recovery” and not experiencing meaningful layoffs. Her comments come after the Bureau of Labor Statistics reported 142,000 new jobs in August, lower than expected, and a decrease in the unemployment rate to 4.2%. Yellen downplayed concerns about a recession, saying “I don’t see red lights flashing.”…

In a meeting with the International Organisation for Migration (IOM), Chief Adviser to the interim government, Muhammad Yunus, urged for a fast-tracked third-country resettlement of Rohingya Muslims living in Bangladesh. This comes as a new wave of refugees flee escalating violence in Myanmar’s Rakhine state, adding to the over one million Rohingya refugees already living in overcrowded camps in Cox’s Bazar district. Around 8,000 Rohingya Muslims have crossed the border into Bangladesh in recent months, escaping intensifying fighting between Myanmar’s ruling junta and the Arakan Army. The Rohingya refugees have little hope of returning to their homeland, where they are…