Latest news with #Samson
Business Times
12 hours ago
- Business
- Business Times
Fidelity says US$4,000 gold possible as Fed cuts rates, US dollar drops
GOLD could hit US$4,000 an ounce by the end of next year as the US Federal Reserve cuts rates to cushion the US economy, the US dollar drops, and central banks keep adding holdings, said Fidelity International. Multi-asset fund manager Ian Samson said the firm remained bullish on the precious metal, with some cross-asset portfolios recently increasing holdings as prices eased from an all-time high above US$3,500 an ounce in April. 'The rationale for that was that we saw a clearer path to a more dovish Federal Reserve,' Samson said, adding that some funds had as much as doubled their 5 per cent allocation over the past year. Also, August is often slightly weaker for markets, so more diversification 'makes sense', he added. Gold is up by more than a quarter this year, as uncertainty around US President Donald Trump's aggressive attempts to reshape global trade, conflicts in the Middle East and Ukraine, and accumulation by central banks buttressed gains. Still, the metal has traded within a tight range over the past few months, with demand for havens cooling a little as some progress in US trade talks eased fears about worst-case scenarios for the global economy. 'Perhaps you're going to avoid the doomsday scenarios that were painted earlier in the year, but ultimately we're heading to a 15 per cent or so tax on about 11 per cent of the US economy – which is imports,' said Samson, referring to Trump's tariffs. 'You'd expect it to slow the economy.' Bullish outlook Fidelity's bullish outlook for gold is similar to that from Goldman Sachs Group, which has made the case in recent quarters for an eventual rally to as much as US$4,000 an ounce. Still, others are cautious, including Citigroup, which forecasts weaker prices. Spot bullion was last near US$3,315. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Fed officials are due to gather this week to set policy. While no change is expected, chair Jerome Powell may face dissents from officials who want to provide support to a slowing labour market, potentially from governor Christopher Waller and vice-chair for supervision Michelle Bowman. A US slowdown would likely see the dovish camp gain more influence in guiding policy, with the US dollar tending to soften in environments of weaker growth, Samson said. In addition, Powell – whose term as Fed chair ends next May – will probably be replaced by someone 'more amenable' to lower borrowing costs as Trump continues to lobby for interest rate cuts, he said. Non-yielding bullion typically benefits when the greenback softens and interest rates ease. Elsewhere in the world, central banks are likely to go on buying gold, he added, while growing fiscal deficits – particularly in the US – will continue to reinforce the precious metal's appeal as a hard asset. 'Sure, gold has come a long way, but if you look at when gold's been in a bull market – like 2001 to 2011 – it annualised 20 per cent per annum,' he said. 'From 2021 to today, it's also annualising 20 per cent a year. So it's not necessarily, in the context of a bull run, massively overstretched.' BLOOMBERG
Straits Times
21 hours ago
- Business
- Straits Times
US$4,000 gold possible as Fed cuts rates and US dollar drops, Fidelity says
Gold is up by more than 25 per cent in 2025, though the precious metal has traded within a tight range over the past few months. Melbourne – Gold could hit US$4,000 an ounce by the end of 2026 as the Federal Reserve lowers interest rates to cushion the US economy, the US dollar drops, and central banks keep expanding holdings, according to Fidelity International. Multi-asset fund manager Ian Samson said the firm remained bullish on the precious metal, with some cross-asset portfolios recently increasing holdings as prices eased from an all-time high above US$3,500 an ounce in April. Spot gold was down 0.2 per cent at US$3,308.39 per ounce, as at 0024 GMT. 'The rationale for that was that we saw a clearer path to a more dovish Federal Reserve,' Mr Samson said in an interview, adding that some funds had as much as doubled their 5 per cent allocation over the past year. Gold is up by more than 25 per cent in 2025, as uncertainty around US President Donald Trump's aggressive attempts to reshape global trade, conflicts in the Middle East and Ukraine, and central-bank accumulation buttressed gains. Still, the metal has traded within a tight range over the past few months, with demand for havens cooling a little as some progress in US trade talks eased fears about worst-case-scenarios for the global economy. 'Perhaps you're going to avoid the doomsday scenarios that were painted earlier in the year, but ultimately we're heading to a 15 per cent-or-so tax on about 11 per cent of the US economy – which is imports,' said Mr Samson, referring to Trump's tariffs. 'That's a pretty decent tax hike. You'd expect it to slow the economy.' Fidelity's bullish outlook for gold is similar to that from Goldman Sachs Group, which has made the case in recent quarters for an eventual rally to as much as US$4,000 an ounce. Still, others are cautious, including Citigroup, which forecasts weaker prices. Top stories Swipe. Select. Stay informed. Asia Thirty dead, over 80,000 evacuated, following heavy rain in Beijing World Trump says many are starving in Gaza, vows to set up food centres Business BYD tops Singapore car sales in first half of 2025 with almost one-fifth of the market Asia Giant algal bloom off South Australia devastates marine life, threatens seafood exports Asia Cambodia, Thailand agree to 'immediate and unconditional ceasefire' to de-escalate border row Singapore ST Explains: What we know about the Tanjong Katong sinkhole so far Sport Dare to dream, urges Singapore's first International Swimming Hall of Famer Joseph Schooling Singapore 44 suspects under probe for involvement in SIM card fraud Fed officials are due to gather this week to set policy. While no change is expected at this meeting, chair Jerome Powell may face dissents from officials who want to provide support to a slowing labour market. A US slowdown would likely see the dovish camp gain more influence in guiding policy, with the US dollar tending to soften in environments of weaker growth, Mr Samson said. In addition, Mr Powell – whose term as Fed chair ends next May – will probably be replaced by someone 'more amenable' to lower borrowing costs as Mr Trump continues to lobby for interest rate cuts, he said. Non-yielding gold typically benefits when the US dollar softens and interest rates ease. Elsewhere, the world's central banks are likely to go on buying gold, he added, while growing fiscal deficits – particularly in the United States – would continue to reinforce the precious metal's appeal as a hard asset. 'Sure, gold has come a long way, but if you look at when gold's been in a bull market – like 2001 to 2011 – it annualised 20 per cent per annum,' he said. 'From 2021 to today, it's also annualising 20 per cent a year. So it's not necessarily, in the context of a bull run, massively overstretched.' BLOOMBERG
Indian Express
a day ago
- Indian Express
France probes airline for anti-semitism after 50 Jewish campers removed from plane over Hebrew songs
Fifty Jewish children and teens were removed from a Spanish flight bound for Paris this week, triggering accusations of antisemitism. French authorities say they are investigating whether the group was ejected because of their religion. The passengers – 44 minors and 8 adults – were part of a summer camp group returning from Valencia to Paris on a Vueling Airlines flight. According to eyewitnesses and participants, the incident began when the children, aged 10 to 15, sang songs in Hebrew while boarding. One 17-year-old, Samson, told AFP that 'one of my friends shouted a word in Hebrew because he was still a bit in holiday-camp mood,' prompting a warning from flight staff. 'We immediately stopped making noise,' he added. Jewish media outlet i24 quoted Karine Lamy, a parent of one of the children, saying, 'the children did nothing wrong. They were simply singing in Hebrew. That was enough to turn them into targets.' Despite that, the group was later removed from the flight. A 21-year-old camp counsellor was arrested, and video of him being handcuffed quickly circulated online. 🚨 NOW: 50 Jewish Children Thrown Off a Plane for Being Jewish Spanish Airline @vueling Video of Violent Jewish Assault in Valencia A Jewish counselor was violently arrested. For protecting children. Jewish children. Fifty of them. Aged 10 to 15. On a summer camp trip. Singing… — Shirion Collective (@ShirionOrg) July 23, 2025 The Shirion Collective, an antisemitism watchdog with over 70,000 followers on X, posted footage of the incident, stating, 'a Jewish counselor was violently arrested. For protecting children. Jewish children.' The group also alleged that crew members called Israel a 'terrorist state' and 'dumped' the children at the airport without parental supervision or protection. Julie Jacob, a lawyer for the camp organiser Club Kineret, announced that a complaint would be filed for 'physical and psychological violence, as well as discrimination on the basis of religion.' Israel's Minister for Diaspora Affairs and Combating Antisemitism, Amichai Chikli, called it 'one of the most severe antisemitic incidents seen recently.' Vueling Airlines has denied that religion played any role. In a statement, the airline said the group was removed for 'highly disruptive behaviour,' including mishandling emergency equipment and interfering with the safety demonstration. The company said its decision was made 'solely to ensure the safety of all passengers.' Spain's Civil Guard confirmed the group's removal but said the agents involved were not aware of the passengers' religious identity. It described the group as French nationals. A spokesperson added that one person had been arrested due to aggressive behaviour. France's Ministry for Europe and Foreign Affairs said Minister Jean-Noël Barrot personally contacted Vueling's CEO to express 'deep concern' and request a full investigation. The same request was made to Spain's ambassador in France. Vueling has reportedly promised to cooperate with French and Spanish authorities. On Thursday, the Federation of Jewish Communities in Spain said Vueling must provide documentary evidence of what happened. The incident also echoes past controversies involving Jewish passengers. In 2022, Lufthansa barred 128 Orthodox Jews from a connecting flight in Germany reportedly after some individuals on the first leg misbehaved. The US Transportation Department fined the airline $4 million for discrimination. In 2019, American Airlines removed a Orthodox Jewish family from a domestic US flight after complaints about body odour — a claim the family denied. Jewish advocacy groups have tied the Vueling incident to a broader rise in antisemitism across Europe. Earlier this month, Spain's Observatory Against Antisemitism documented a 321 per cent increase in antisemitic incidents compared to 2023, most of them linked to the Israel-Gaza war.
GMA Network
4 days ago
- GMA Network
Online gambling boom sparks calls for ban in Philippines
MANILA (Thomson Reuters Foundation) — Before helping fellow gamblers quit the roulette wheel or forgo the glory of a royal flush in poker, Filipino Reagan Praferosa fought his own addiction—a passion that almost cost him his life. Enthralled by the "big-shot identity" that came with early casino victories in Las Vegas and later in Manila, Praferosa went on to lose P50 million ($873,515) in seven years. He was jailed for theft to cover the debt, sent to rehabilitation centers and then tried to take his own life. "Gambling is an emotional disease. It only leads to three places: jail, institution or death," said Praferosa, who created a support group in 2011 for Filipinos with a gambling addiction. The group, managed by five people, has helped more than 300 people with online daily meetings. Its members are as young as 13 and as old as 72. Lawmakers and the Catholic Church worry that addiction is soaring, with ever more gamblers drawn to online games, their need accelerated by social-media ads and e-wallet platforms. "The number of callers we received is 10 times more than usual. Before, callers were dominated by men. But now they're dominated by mothers... children as well," said Praferosa. Several lawmakers have filed bills seeking restrictions on online gambling, such as prohibiting the use of e-wallets that enable bigger, faster bets. Others want a total ban. Online gambling has taken off quickly in the Philippines, with government revenues from taxes and fees paid by local operators for the first quarter estimated at P51 billion ($892 million), according to news reports citing data from the Philippine Amusement and Gaming Corporation (PAGCOR), the government's gaming regulator. It accounted for about half of the government's total gaming revenues so far this year. At least 80 electronic gaming operators have licenses in the Philippines, according to PAGCOR. Gian Samson, a PAGCOR employee, said he backs an outright ban, claiming the human risks far outweigh the economic benefits. "Online gambling must be stopped immediately, and we should determine what is legal or illegal. It's not contributing anything to our society," said Samson, a representative of PAGCOR's employee association. The chairman of PAGCOR, founded in 1977 to regulate gaming and stop illegal casinos, rejects a total ban and instead favors stricter regulation. Growing problem Former President Rodrigo Duterte ushered in online gambling in 2016, opening the door to mostly Chinese-owned firms that catered to customers outside the country. President Ferdinand Marcos Jr. reversed track and imposed a ban on the outside entities last year, citing a "grave abuse" of laws by the industry. However, domestic digital versions of traditional casino games, such as slot machines, poker and roulette, are still permitted and can be accessed from mobile devices. While online gambling is legal, Samson said regulators have failed to limit the industry or control who can access these games, as is mandated. "They are giving Filipinos easy and convenient access to gambling. In just a tap of a button, you can deplete your life savings," he said. Players can join a game, then withdraw all their earnings through popular e-payment apps that even children can use, he said. DigiPlus Interactive, operator of gaming sites BingoPlus, ArenaPlus and GameZone, said banning licensed operators would "drive players toward illegal, unregulated sites with no safeguards" as well as hit some 50,000 workers in the sector. "We are open to evolving and improving wherever needed. If there are new standards to meet, or better ways to protect players, we will act swiftly and responsibly," DigiPlus Chair Eusebio Tanco said in a statement. Recovery The church has decried online gambling as a "moral and social crisis" and called for a ban. "It is now a public health crisis in our society, just like drug addiction, alcoholism and other types of addiction. It destroys not only the person but also their families," Cardinal Pablo Virgilio David, president of the Catholic Bishops' Conference of the Philippines, said in a pastoral letter. He said online gambling hurts poor Filipinos who have almost no salary or savings and young people who are already struggling with the cost of education as well as other vulnerable people. In one Facebook recovery group with more than 25,000 members, one user said he tried to stop by installing an online gambling blocking app called Gamban but failed to curb his addiction. Gamban, a software provider based in Britain, can be installed on personal devices to block online gambling sites. Gamban founder Matt Zarb-Cousin said the Philippines is the app's third-highest source of new signups, after Brazil and Britain, reflecting a surge from about 26,000 visitors in 2024 to more than 32,000 in the first half of 2025. "It may be driven by the prevalence of online gambling, legal and illegal," said Zarb-Cousin. He said online casinos are associated with higher rates of addiction than traditional gambling, and about 80% of Gamban users play mostly slots. "Everyone wants to make better lives for themselves, and gambling is something that can completely destroy that in a very short space of time," said the former gambling addict. In countries such as Britain, the Netherlands and Norway, Gamban is free. In the Philippines, it costs $3.49 a month. "There must be responsibilities placed on gambling operators to protect consumers sufficiently. And in my ideal world, there wouldn't be as many people needing Gamban," he said. "Regulation, if done properly, can prevent or at the very least curtail online gambling significantly." — Reuters
Time of India
20-07-2025
- Sport
- Time of India
'The numbers don't tell the whole story': Sanju Samson reflects on 10 years in international cricket
Sanju Samson of India (Photo by Darren Stewart/) Indian cricketer Sanju Samson marked a significant milestone in his career by completing 10 years in international cricket on July 19, 2025. The 30-year-old wicketkeeper-batter commemorated the occasion with a social media post reflecting on his journey since his debut against Zimbabwe in 2015. "Today marks 10 years of my international cricket. The numbers might not tell you the whole story. Absolutely grateful to this blessed journey, loving every bit of it #daretodream," Samson shared on social media. Go Beyond The Boundary with our YouTube channel. SUBSCRIBE NOW! Samson's international cricket journey began on July 19, 2015, in a T20 match against Zimbabwe at Harare. In his debut match, he batted at number 7 position, scoring 19 runs off 24 balls in India's pursuit of Zimbabwe's target of 145/7, though India ultimately lost the match by 10 runs. Throughout his career, Samson has maintained a presence in Indian cricket, particularly through his performances with Rajasthan Royals in the Indian Premier League (IPL). However, his position in the national team setup has not been consistent over the years. The year 2024 proved to be a breakthrough period in Samson's international career. He was part of India's T20 World Cup winning squad and demonstrated his batting prowess with three remarkable centuries within a span of two months. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Villas in Dubai | Search Ads Get Info Undo His century-scoring streak began with a knock of 111 runs against Bangladesh in Hyderabad. He followed this with another century, scoring 107 runs against South Africa in Durban. The third century came in quick succession, as he remained unbeaten on 109 against South Africa in Johannesburg. Poll Should Sanju Samson be a regular member of the national team? Absolutely Not sure No, there are better options These performances highlighted Samson's attacking cricket style and his ability to contribute significantly to Team India's success. The three centuries in such a short timeframe represented his most successful phase in international cricket to date. The decade-long journey has seen Samson evolve from a young, dynamic player to an experienced member of the Indian cricket team. His role as a wicketkeeper-batter has added value to his presence in the team, offering flexibility in team combinations. Despite the statistical aspects of his career not fully reflecting his potential, Samson's positive approach towards his international career is evident in his anniversary message. His emphasis on the journey rather than the numbers demonstrates his perspective on his cricket career. The journey from his debut in Harare to becoming part of a World Cup-winning team represents the evolution of Samson as an international cricketer, encompassing both challenges and achievements in his career spanning ten years. Catch Rani Rampal's inspiring story on Game On, Episode 4. Watch Here!
