Dear followers everywhere, welcome to a new global tour of the financial markets, businesses, companies, and everything new for today, Wednesday, December 4, 2024.. coming to you from Banker, so stay with us.
Starting with the gold markets and Neovision’s expectations that its prices will reach $3,000 per ounce.
The company’s co-founder and CEO said that the dollar will continue its gains during the year 2025, and he also expected gold prices to reach $3,000 per ounce.
The next news in our global tour from the United Nations, which seeks to raise tens of billions of dollars to save millions of people from hunger
The United Nations Office for the Coordination of Humanitarian Affairs (OCHA) launched an appeal to raise more than $47 billion to provide necessary assistance to about 190 million people during the year 2025, at a time when needs are growing due to conflicts and climate change.
Under-Secretary-General for Humanitarian Affairs and Emergency Relief Coordinator Tom Fletcher said that with the launch of the “Humanitarian Overview 2025” report, the most vulnerable groups, including children, women, people with disabilities and the poor, are paying the highest price in a world on fire.
As for Africa, US President Joe Biden announced that his country will provide one billion dollars to help refugees and those displaced by drought or conflicts in sub-Saharan African countries, during a visit to the continent before the end of his term.
The US Agency for International Development explained that the aid will be allocated to address food insecurity and emergency needs for refugees, displaced people, and affected communities in 31 African countries.
We are still on our global tour and the next news is from the Norwegian Central Bank, which has urged the Norwegian government to allow its huge sovereign wealth fund to sell shares of its Russian portfolio when possible, ending a freeze in place since 2022 that prevents divestitures.
The Norwegian Ministry of Finance ordered the suspension of all transactions in Russian assets owned by the fund, which is managed by the central bank, shortly after the start of the Russian-Ukrainian war in February 2022, and said at the time that the ultimate goal was to liquidate its investments.
The size of the Norwegian sovereign wealth fund is $1.8 trillion, and it is the largest sovereign wealth fund in the world.
The latest news in our global tour about the increasing pace of the chip war between the US and China
Beijing announced that it would impose restrictions on the export of key components in the semiconductor industry to the United States, after Washington announced new restrictions targeting China’s ability to manufacture advanced electronic chips.
The materials subject to restrictions include the metals gallium, antimony, and germanium, which can be used in dual technology for civilian and military uses, according to what the Chinese Ministry of Commerce said in a statement that spoke of concerns related to “national security.”
