News
US Inflation Data Encourages Saudi Stock Market Growth.
(VOR News) – The Saudi Arabian Inflation stock market was able to successfully end a losing run that lasted for four sessions on Sunday.
The streak had been going on for quite some time. This became feasible as a consequence of the improvement in inflation data that originated from the United States of America.
Given this, which of the following may be appropriate?
As a result of significant improvements made by Al Taiseer Group and Al Rajhi Bank, which resulted in gains of 3.5% and 2.8%, respectively, the benchmark index for Saudi Arabia experienced an increase of 1.2%.
This was because of the advances that each of them had made individually. The Al Taiseer Group was the most important contribution to the accomplishments that should not be ignored on account of their significance.
US inflation data showed that inflation had declined in June.
This may encourage the Federal Reserve to decrease interest rates in September, which would be advantageous for the economy.
Furthermore, the data demonstrated that there was a decline in consumer price inflation. This rise has occurred as a direct result of the United States government’s publication of some facts regarding inflation.
Following the announcement that was made in July, the Federal Reserve has consistently kept its benchmark interest rate at a level that falls between 5.25% and 5.50%. This range has been maintained during the entire period.
Considering that the rate has been raised by 525 basis points since 2022, this is the conclusion that can be drawn from the situation. Because their currencies are tied to the dollar of the United States, the Gulf Cooperation Council (GCC), which includes Saudi Arabia, pays a great deal of attention to the monetary policy that is executed by the Federal Reserve.
This is because the GCC is comprised of countries that are economically interdependent with the United States. Because of this, any potential reductions in interest rates might potentially have a significant impact on the economic strategy that the region employs. In light of the fact that this is the situation, this is the reason.
How can I be concerned about this particular issue?
Furthermore, the stock index of Qatar had an increase of 0.4%, while Industries Qatar reported an improvement of 0.8% in terms of its total performance.
All of these developments occurred simultaneously. Despite this, there was not only great news in the region: Egypt’s blue-chip index dropped by 0.2%, which was driven down by a 1.5% loss in Talaat Mostafa Group as a result of a rise in the price of local fuel.
This was only one of the favourable developments in the region. These two variables were among those that contributed to the downturn.
Throughout the course of the development of the Gulf area, Bahrain suffered a decrease of 0.3%, Oman experienced a loss of 0.6%, and Kuwait witnessed a gain of 0.4%. It is important to note that each and every one of these shifts occurred simultaneously.
The snowball effect that inflation has had in the United States is something that ought to be taken into consideration when taking a step back and looking at the bigger picture.
It is possible that these patterns in the rate of inflation in the United States are responsible for a wide range of effects that have far-reaching implications. As a result of the enhanced economic measures that have been adopted in the United States, it is likely that the Federal Reserve will reduce interest rates.
This is because of the increased economic measures. This would have an effect on the markets and economies all over the world that are dependent on the currency.
This would have an influence on the global economy. The policies of the Federal Reserve are of the utmost significance for the countries that are members of the Gulf Cooperation Council (GCC) due to the fact that their currencies are pegged to the currency of the United States.
The information that is available regarding the rate of inflation in the United States is therefore a key component when it comes to the process of economic planning and the maintenance of stability in the region.
SOURCE: FN
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Cases Of The US Flu Season Are Rising, While Vaccinations Are Behind Schedule.
(VOR News) – The U.S. flu season has begun, according to health experts, who also noted a sharp rise in cases countrywide on Friday.
Significant increases were noted by the Centres for Disease Control and Prevention in a number of indicators, such as laboratory tests and ED visits. “For the past few weeks, it has been increasing steadily.” “Yes, we are in flu season right now,” CDC’s Alicia Budd said.
Last week, flu-like sickness was reported at elevated or very elevated levels in 13 states, roughly twice as many as the week before. Dr. William Schaffner, an infectious disease specialist at Vanderbilt University, says Tennessee is seeing a spike in sickness in the Nashville area.
Schaffner said, “Influenza cases have been increasing, but they have increased significantly in the last week.” He noted that up to 25% of patients in a nearby clinic, which is a gauge of illness trends, have flu-like symptoms.
An early focal point was Louisiana.
Our Lady of the Lake Regional Medical Centre, the largest private hospital in the state, in Baton Rouge, has infectious diseases specialist Dr. Catherine O’Neal, who said, “This week is a significant turning point as individuals are affected by the flu.” “Parents frequently say, ‘I have the flu and can’t go to work,’ and ‘Where can I get a flu test?'”
Fever, cough, sore throat, and other influenza-like symptoms are caused by a variety of viruses. COVID-19 is one of them. Another flu season common disease that causes cold-like symptoms but poses serious hazards to infants and the elderly is respiratory syncytial virus (RSV).
Recent CDC numbers indicate a decline in COVID-19 hospitalisations since the summer. According to CDC wastewater data, COVID-19 activity is modest nationwide but elevated in the Midwest.
Although RSV hospitalisations are still marginally more common than flu admissions, they started to rise before flu season cases and currently show signs of perhaps stabilising. RSV activity is low nationwide, but wastewater data shows that it is high in the South.
Based on a number of indicators, such as laboratory results from hospitalised patients and outpatient clinics, as well as the percentage of ED visits that resulted in an influenza diagnosis at discharge, the CDC declared the start of the flu season.
According to Budd, it is too early in the season to determine the effectiveness of the influenza vaccine, and no type of virus seems to be more common.
The flu season last winter was classified as “moderate” overall, but it continued for 21 weeks, and the CDC estimates that 28,000 people died from the virus. With 205 paediatric deaths reported, the situation was particularly dangerous for kids. It was the largest number ever recorded for a conventional influenza season.
The prolonged flu season was probably one of the reasons, Budd added.
The lack of influenza vaccinations was one of the contributing factors. The CDC reports that 80% of children who passed away and had verified vaccination status and were of the right age for flu shots were not completely immunised.
Children’s immunisation rates are drastically lower this year. About 41% of people had a flu shot as of December 7, which is similar to the percentage at the same time last year. For youngsters, the figure is steady, although it is lower than in the previous year, when 44% received an influenza vaccination, according to CDC data.
About 21% of adults and 11% of children are fully vaccinated against COVID-19, which is still a poor vaccination rate.
Influenza experts advise everyone to get vaccinated, especially as people get ready for holiday gatherings where respiratory diseases could spread widely.
“This virus also has the potential to spread from person to person at all those happy, pleasant, and heartwarming events,” Schaffner said. “flu season Vaccination remains a viable option.”
However, Louisiana’s health department announced on Friday that it was rescinding its COVID-19 and flu vaccination recommendations. According to an official, the department’s current position is that people should speak with their doctors about whether the immunisations are suitable for their situation.
The department’s spokesperson, Emma Herrock, did not respond to follow-up questions regarding the policy. Dr. Ralph Abraham, the state’s surgeon general, has expressed concerns in the past regarding the COVID-19 vaccine’s effectiveness and safety.
SOURCE: AP
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Social Security Change Approved By Senate Despite Fiscal Concerns
King Charles Could Millions Annually from Renting His Properties
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Social Security Change Approved By Senate Despite Fiscal Concerns
(VOR News) – On Saturday, the U.S. Congress passed a plan to increase Social Security retirement payouts for some retirees who receive public pensions, a move that critics say will further erode the program’s financial stability. Among these pensioners are former firefighters and police officers.
The Social Security Fairness Act was passed by the Senate on a bipartisan vote of 76-20 just after midnight. The act may lower payments for those receiving pensions and aims to repeal provisions that have existed for 20 years.
The House of Representatives passed the bill last month by a vote of 327-75, meaning that if the Senate also approves it, it would be delivered to Democratic President Joe Biden to become law.
The White House dodged enquiries regarding Social Security’s objectives.
In order to limit government benefits for certain higher-paid employees who are also getting pensions, the measure will reverse a long-standing change to the program. It has become increasingly common in recent years for municipal employees, such as postal workers and firefighters, to face pay limitations.
The vast majority of Americans do not take part in pension plans that provide a fixed return on investment, instead relying on their own savings and Social Security. According to data from the Department of Labour, only 10% of private sector employees in the US are covered by pension plans.
The new rules apply to about 3 percent of Social Security users, or more than 2.5 million people in the United States. Legislators are heavily influenced by the workers and retirees impacted by these rules, and the powerful advocacy organisations that speak for them have been using the legislative process to push for a legislative cure.
According to retirement experts, some retirees may be able to earn hundreds of dollars more in government benefits each month as a result of the move.
According to a Congressional Budget Office analysis, the bill is expected to cost approximately $196 billion over the next 10 years. As a result, federal budget experts are worried that the change could negatively affect the program’s already fragile financial status.
In an interview with the Bipartisan Policy Centre, Emerson Sprick, associate director of economic policy, said he was frustrated by “the overwhelming support in Congress for the contrary of what policy researchers concur on is quite frustrating.”
Instead of eliminating current formulas, we could improve them.
Among these changes is the Social Security Administration’s increased disclosure of the anticipated monetary benefits for these public sector workers.
The Committee for a Responsible Federal Budget, a nonpartisan fiscal think tank, has voiced concerns that the additional cost will impact the program’s ability to continue.
Maya MacGuineas, the organization’s leader, made the declaration, saying, “We are hastening towards our own fiscal ruin.”
“It is noteworthy that lawmakers are in a position to shorten the timeframe by six months, as there are just nine years left before the trust fund for the biggest program in the country runs out.”
Senator Ted Cruz, a Republican, said on the Senate floor on Wednesday that the bill in its current form would “throw granny over the cliff.”
According to what he stated, “every senator who votes to impose a burden of $200 billion on the Social Security Trust Fund is opting to put the interests of senior citizens who have contributed to Social Security and earned those benefits in jeopardy.”
Those who favoured the legislation said that the question of what would happen to Social Security could be settled later.
“Those are significantly longer-term concerns that we must collaboratively address,” a supporter of the idea Senator Michael Bennett told Reuters when asked if the move would affect the government’s capacity to be viable.
SOURCE: BR
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King Charles Could Millions Annually from Renting His Properties
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King Charles Could Millions Annually from Renting His Properties
A recent analysis suggests that King Charles might earn over £1 million each year by renting out royal properties to holidaymakers.
The Royal Family’s historic houses and mansions are popular holiday rentals, contributing significantly to the Palace’s revenue.
Pikl Insurance estimates that the royals may earn up to £118,775.85 per month, or around £1,425,310.20 per year, from their holiday rental portfolio. Even after accounting for cancellations, the monarchy is anticipated to generate a net annual income of somewhat more over £1.4 million.
Estimated Annual Rental Income of £1.4 Million
The four primary royal properties accepting public bookings are Balmoral Castle, Castle of Mey’s Captain House, Restormel Manor, and Dumfries House, according to Express.co.uk. Cottages at Balmoral Castle in Scotland are expected to generate £36,798.30 per month after accounting for cancellations.
According to the numbers, the 500-year-old Restormel Manor in Cornwall is the most profitable of them all, earning a solid £47,082 every month. The resort, located in the Fowey Valley, has four booking spaces and six converted barns.
Dumfries House in Ayrshire, Scotland, adds an estimated £31,185.63 and offers 25 rooms for booking. The Castle of Mey’s Captain House in the Scottish Highlands is estimated to generate a more modest £3,709.92 per month, despite the fact that the entire property is available for booking.
The analysts stated, “While the Royal Family’s primary role is undoubtedly to serve the nation, it is clear that their properties are also a valuable asset.” These estimates highlight the royal estate’s considerable financial potential and provide an intriguing peek into the monarchy’s corporate operations.”
Royal Family received £86.3 million from the taxpayer-funded Sovereign Grant in the previous fiscal year, according to official numbers released in July.
All revenues from the Crown Estate, which includes royal households, forestry, agriculture, and offshore wind, are paid directly to the Treasury, with a portion of this money, now 12%, returned to the Royal Family to finance their tasks.
The records also cover a period of jubilation, including the coronation and festivities surrounding the King and Queen’s crowning in May of last year.
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