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Asian shares are mixed and oil prices advance as Israel-Iran crisis escalates

Asian shares are mixed and oil prices advance as Israel-Iran crisis escalates

Washington Post6 hours ago

HONG KONG — Asian shares were mixed on Monday and oil prices extended gains on worries that escalating Iran-Israel tensions could disrupt the flow of crude around the world.
U.S. benchmark crude oil added 20 cents to $73.18 per barrel. Brent crude, the international standard, gained 95 cents to $75.18 per barrel.

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India and Cyprus to step up defense, maritime and cybersecurity cooperation, Indian PM says
India and Cyprus to step up defense, maritime and cybersecurity cooperation, Indian PM says

Associated Press

time28 minutes ago

  • Associated Press

India and Cyprus to step up defense, maritime and cybersecurity cooperation, Indian PM says

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Gold price today, Monday, June 16: Gold opens at record high ahead of Fed meeting
Gold price today, Monday, June 16: Gold opens at record high ahead of Fed meeting

Yahoo

time41 minutes ago

  • Yahoo

Gold price today, Monday, June 16: Gold opens at record high ahead of Fed meeting

Gold (GC=F) futures opened at $3,473 per ounce Monday, up 1.2% from Friday's close of $3,431.20. The record high opening price of gold, plus heavy trading volume, indicates strong demand for the precious metal ahead of a Fed meeting to set interest rates Tuesday and Wednesday of this week. Investors are weighing the potential economic impact of the Israel-Iran conflict that turned violent last week, on top of the evolving U.S. tariff policy. One concern is that the Middle East conflict will raise oil prices and contribute to inflation. Amid the uncertainty, most investors expect the Fed to hold interest rates steady on Wednesday – per the CME FedWatch tool. Without an immediate interest rate reduction on the table, many investors may continue to shift into gold as a safe-haven asset. The opening price of gold futures on Monday is up 1.2% from Friday's close of $3,431.20 per ounce. Monday's opening price marks a gain of 4.8% over the past week, compared to the opening price of $3,315.60 on June 9. In the past month, the gold futures price has risen 7.6% compared to the opening price of $3,227.70 on May 16. In the past year, gold is up 50.5% from the opening price of $2,307 on June 14, 2024. Don't forget you can monitor the current price of gold on Yahoo Finance 24 hours a day, seven days a week. Want to learn more about the current top-performing companies in the gold industry? Explore a list of the top-performing companies in the gold industry using the Yahoo Finance Screener. You can create your own screeners with over 150 different screening criteria. Investing in gold is a four-step process: Set your goal Set an allocation Choose a form Consider your investment timeline The first step to investing in gold is understanding your goals for buying it. Given gold's historic behavior, three suitable investing goals for a gold position are: Diversification into an asset that moves independently from stock prices Protection against inflation-related loss of purchase power Backup source of value and wealth in an unlikely economic collapse Gold has long been part of a balanced portfolio given its ability to hold its value – or even increase further – when the value of other assets is falling. That is why investors utilize gold as a stabilizer. Investors rely on gold's strength in tough times to limit unrealized losses in equities and inflation-related reductions in purchasing power of cash deposits. That's exactly what we're seeing play out now before our eyes. Gold is also a widely recognized store of value. As such, the precious metal can potentially stand in as a medium of exchange if the dollar collapses. 'I recommend that everyone buy a little gold as a hedge against calamity,' said Scott Travers, author of The Coin Collector's Survival Manual and editor of "COINage" magazine, in an interview with Bottom Line, Inc. Gold 'should be viewed as an insurance policy,' he said. Learn more: How to invest in gold in four steps Whether you're tracking the price of gold since last month or last year, the price-of-gold chart below shows the precious metal's steady upward climb in value. Historically, gold has shown extended up cycles and down cycles. The precious metal was in a growth phase from 2009 to 2011. It then trended down, failing to set a new high for nine years. In those lackluster years for gold, your position will negatively impact your overall investment returns. If that feels problematic, a lower allocation percentage is more appropriate. On the other hand, you may be willing to accept gold's underperforming years so you can benefit more in the good years. In this case, you can target a higher percentage. The precious metal has been in the news lately, and many analysts are bullish on gold. In May, Goldman Sachs Research predicted gold would reach $3,700 a troy ounce by year-end 2025. That would equate to a 40% increase for the year, based on gold's January 2 opening price of $2,633. Rising demand from central banks, along with uncertainty related to changing U.S. tariff policy, are the factors driving the increase. If you are interested in learning more about gold's historical value, Yahoo Finance has been tracking the historical price of gold since 2000.

Purposeful Investment: Inside Shurooq's Model of Enterprise-Driven Development
Purposeful Investment: Inside Shurooq's Model of Enterprise-Driven Development

Entrepreneur

time42 minutes ago

  • Entrepreneur

Purposeful Investment: Inside Shurooq's Model of Enterprise-Driven Development

You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media. In a region defined by rapid growth and high-stakes ambition, the Sharjah Investment and Development Authority (Shurooq) has charted a distinct course—one built on measured resilience, long-term value, and economic diversification that places people and purpose at the centre of progress. FROM CAPITAL PROJECTS TO CAPITAL CONFIDENCE Fifteen years since its establishment, Shurooq's portfolio spans AED 7.2 billion in total investments and partnerships across 52 integrated developments. But to reduce its story to numbers would be to overlook its real achievement: building an economy where purpose, perfor mance, and people align. Across real estate, tourism, cultural development, and commercial infrastructure, Shurooq has consis tently prioritized value over volume. Each investment is designed not just to fill space, but to fill gaps — in opportunity, employment, sustain ability, and competitiveness. Image source: Shurooq "True development is not measured by concrete alone," says H.E Ahmed Obaid Al Qaseer, CEO of Shurooq. "It's measured by the confidence we generate — among investors, entrepreneurs, visitors, and our own people. That trust is our most valuable return." This philosophy has shaped how Shurooq oper ates. It has created over 5,000 jobs across sectors and formed more than 10 joint ventures, building platforms that invite both local enterprise and global investment. Its real estate developments alone have attracted buyers from nearly 100 countries, reflecting the emirate's growing appeal as a stable, opportunity-rich market. A PLATFORM AP PROACH TO ECONOMIC GROWTH Shurooq's impact isn't measured solely by projects completed or revenue generated. Its true legacy lies in the commer cial ecosystems it has enabled—particularly for small and medium-sized enterprises (SMEs), which now form the backbone of the UAE's economic agenda. Unlike accelerators or incubators, Shurooq doesn't provide direct mentorship or funding. Instead, it builds the destinations that serve as the platforms on which entrepreneurs can succeed. From leisure and tourism destinations to revitalized heritage quarters, each Shurooq asset is developed with commercial visibility, footfall, and long-term access in mind. Today, over 600 busi nesses operate across Shurooq-managed destinations. Image source: Shurooq Among them: 87 SMEs and nearly 300 women-led enterprises, active in sectors ranging from artisanal crafts to boutique hospitality. These businesses aren't posi tioned on the periphery— they are woven into the very fabric of Sharjah's cultural, tourism, and retail assets. This is particularly visible at places like Al Heera Beach, Al Qasba, Al Majaz ing with incubators or SME-focused entities, it complements them—offer ing built environments that facilitate access, footfall, and operational viability. Working closely with Waterfront, Khorfakkan Beach, and the Heart of Sharjah, where hundreds of local vendors and creatives run outlets, design studios, and F&B concepts. In Shurooq's model, place-making is not a backdrop to enterprise—it is the foundation of it. INFRASTRUCTURE AS EMPOWERMENT What differentiates Shurooq from traditional development entities is its infrastructure-led approach to empower ment. Instead of compet semi-government entities, Shurooq ensures that entrepreneurs operating within its destinations benefit from fast-tracked licensing, regulatory ease, and business support services. "We are the platform builders. Others deliver capacity-building. Together, we support long-term enterprise growth," says Al Qaseer. This collaborative model is bearing measurable results. In the 2024 Global Startup Ecosystem Report, Sharjah ranked 4th in the GCC and 7th in the MENA region—an indication that the emirate is gaining recognition not just for infrastructure quality, but for its start-up friendli ness and business accessibility. Image source: Shurooq BUILDING WITH VISION, LEADING WITH PURPOSE Shurooq's development philosophy has always been guided by Sharjah's broader vision—anchored by the directives of His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, and the leader ship of H.E. Sheikha Bodour bint Sultan Al Qasimi, Chairperson of Shurooq. Under their guidance, the Authority has embraced long-term thinking over short-term gain, focusing on sustain able sectors that serve both economic and societal goals. Its real estate investments have delivered returns without inflating risk. Its hospitality assets, including the eco-driven Sharjah Collection, have married tourism with SME integration. And through destinations that welcome both global investors and local artisans, Shurooq has proven that sustainability and profitability can move in lockstep Through the Sharjah FDI Office (Invest in Sharjah), its dedicated FDI arm, Shurooq has attracted AED 96.75 billion in capital since 2016, across 617 projects, contributing to 46,761 new jobs. Yet beyond the statistics, Shurooq's leadership remains focused on one thing: creating a develop ment legacy that enables others to grow. Image source: Shurooq WHAT COMES NEXT As the world recalibrates its economic assumptions, Shurooq continues to prioritise integration, circular economies, and enterprise access. New developments will carry forward the same principles that defined the last 15 years—accessibility, heritage, environmental consciousness, and inclusivity—while embrac ing innovation and entrepreneurship at their core. In the words of H.E Ahmed Obaid Al Qaseer, "The real return on investment is not in what we build, but in what we enable—jobs, ideas, partnerships, and long-term confidence. That's the business Shurooq is in." For entrepreneurs looking not only for capital or incubation, but for a place to grow their vision—the path, quite literally, runs through Sharjah. Related: UAE-Based Shurooq Marks 15 Years Of Growth With AED7.2 Billion In Investments And Partnerships Across 52 Projects

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