Dear followers everywhere, welcome to a new global tour of the financial markets, business, companies, energy, and everything new around the world today, Tuesday, November 19, 2024… coming to you from Banker, so stay with us.
Starting with the gold markets, where the prices of the yellow metal jumped to reach the highest level in a week, Tuesday, supported by the decline of the green currency from high levels recently recorded by the dollar.
This comes as the market awaits comments from Federal Reserve officials in search of indications about the path of US interest rates.
By 11:11 GMT, the price of gold in spot transactions rose 0.9 percent to $2,634.78 per ounce, the highest level since November 11.
The next news in our global tour is from China, which seeks to resume flights with India after 4 years of stagnation
Chinese Foreign Minister Wang Yi stated that his country seeks to resume direct flights with India, and to achieve tangible progress in resuming sending journalists and facilitating visa issuance procedures as soon as possible.
This comes after four years of stalemate between the two countries due to border disputes in the Himalayas, which led to increased military build-up on the border, suspension of direct flights, and a noticeable slowdown in visa issuance procedures.
Relations between China and India have been tense since 2020 after a military clash on their border in the Himalayas resulted in the deaths of 20 Indian soldiers and four Chinese soldiers.
From China to Türkiye, which intends to take state-owned energy companies public to strengthen their institutional structures.
Turkish Energy Minister Alp Arslan Bayraktar stated that the institutions scheduled to be offered include the Turkish Electricity Distribution Company (TIAS), the Electricity Generation Company (Ewash), the Turkish Oil Pipeline Company (BOTAŞ), and the Turkish oil company TPAO.
The Turkish minister said before a parliamentary committee, “Our goal is to modernize companies and move them to a position appropriate to their size through public offerings that benefit only our citizens and small investors.”
In corporate news, Rothschild Bank announced the opening of a new wealth management office in Dubai, with the aim of providing its services to wealthy families, businessmen, institutions, and charities in the Middle East.
This expansion comes in line with the trend of many Western financial institutions, which are seeking to capitalize on the growing Dubai market.
The bank explained in a statement that the new office, which has already begun operations, will benefit from cooperation with the team dedicated to the Middle East.
The last news in our global tour is about Samsung Electronics preparing to distribute dividends worth 2.5 trillion won, equivalent to $1.8 billion, tomorrow, Wednesday.
More than half of these dividends will be paid to foreign investors who own about 52% of the company’s common shares.
The dividends come at a sensitive time for South Korea’s currency, which is suffering from pressure resulting from rising US bond yields and tariff threats from US President-elect Donald Trump.
