Author: News Room

By Sarah El Safty CAIRO (Reuters) – A quadrupling of the price of subsidised bread has made it harder than ever for Gamal Ahmad and millions of other Egyptians to get by. The 64-year-old pensioner was struggling to make ends meet even before Eqypt’s government, facing a rising wheat import bill, increased the price of subsidised small loaves of flatbread for the first time in decades on June 1. The loaves are available to more than 70 million people and are vital for the poorest. Even though they are still heavily discounted, the increase to 20 piasters ($0.0042) per loaf…

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Investing.com – Neither too large nor too small, mid-cap companies represent the best in terms of financial stability. On one hand, they offer more growth potential compared to large caps that have already realized much of their potential, and on the other hand, they provide greater solidity compared to small caps. In short, more opportunities and fewer risks, the perfect combination for long-term investing. The problem lies in understanding which companies will be the champions of the future, and the solution is provided by our ProPicks. By subscribing to InvestingPro+, you can leverage artificial intelligence (AI) models that select the…

Gold price is gaining 1.18% amid mixed US economic data and lower Treasury yields. US 10-year Treasury yield drops to lowest level since April, following a softer-than-expected jobs report. US Dollar Index increases 0.22% to 104.7 but fails to curb Gold’s advance. Gold’s price remains range-bound and advanced on Wednesday, making a U-turn to Tuesday’s price action following the release of mixed US economic data that could warrant lower borrowing costs set by the US Federal Reserve (Fed). Therefore, US Treasury yields dropped, and the Greenback rose, yet failed to put a lid on the yellow metal. The XAU/USD trades…

Power demand from hyperscalers and AI firms may make bitcoin mining companies potential takeover targets, the bank said. JPMorgan said CoreWeave’s deal with Core Scientific validates the mining sector’s pivot to HPC. The report said that bitcoin miners under financial pressure following the recent halving may be more susceptible to a deal. Hyperscalers and artificial intelligence (AI) firms are exploring different alternatives to securing their energy needs, and this may make bitcoin (BTC) mining companies with attractive power contracts appealing acquisition targets, JPMorgan (JPM) said in a research report on Wednesday. A hyperscaler is a large-scale data center specializing in…

When Usher isn’t on stage belting ballads and putting on a show, he’s doing all that he can to support his family’s health, especially his child who has Type 1 diabetes.”My child was diagnosed at six [years old],” says the mega-star, who recently partnered with Beyond Type 1, an advocacy group for diabetes awareness.”Lack of information can be overwhelming. Had I known a year, a month, a day, before [my child was diagnosed], I probably would have been better [off].”Type 1 diabetes is traditionally seen as “the youth version of diabetes,” says Kristian Hurley, senior vice president of programs, advocacy,…

President Joe Biden on Wednesday will formally nominate the current US ambassador to NATO to one of the top positions at the State Department, a US official told CNN. Biden will tap Julianne Smith to serve as the undersecretary of state for political affairs – a key diplomatic post involved in US efforts on Ukraine and the Middle East. The role has been without a confirmed official since late March, following the departure of Victoria Nuland. John Bass, the Under Secretary for Management, has been serving in the role in an acting capacity. Smith took on the role of US ambassador to…

Shortly after finally capturing the ruins of Avdiivka following a bloody, five-month battle that culminated in February, Russian forces in eastern Ukraine’s Donbas region took aim at another eastern prize: the industrial town of Chasiv Yar, which had a pre-war population of around 12,000. Exposed on the very edge of the line of contact west of Bakhmut and depending on a north-south canal—a canal with two easy crossing points—for its defense, Chasiv Yar is vulnerable. And its easternmost canal district, on the far side of the canal from the town center, is even more vulnerable. Chasiv Yar should’ve been easy…

It’s no secret that working from home has become far more commonplace since the beginning of the COVID-19 pandemic.All this time at home — alongside high interest rates and a bleak housing market — has led to a focus on home renovation and decoration projects, with a 2024 Opendoor survey reporting that Americans spend an average of $1,599 on home decor annually.And while so much of the internet has shared tips and hot takes on using that money to incorporate the latest design trends into your space, LA-based content creators Robert Gigliotti and Ethan Gaskill have taken a different approach.The…

Former President Donald Trump and a top representative for President Joe Biden will square off behind closed doors next week as both sides make a play for Wall Street ahead of the election.According to CNBC, Trump and White House chief of staff Jeff Zients will address the Business Roundtable during a closed-door meeting on June 13 for the influential group whose members include some of the nation’s most powerful CEOs. Biden was invited to address the group but is sending Zients in his place as the president will be overseas to attend the G7 summit in Italy. Zients, a millionaire,…