Latest news with #Traders
Zawya
4 hours ago
- Business
- Zawya
Mideast Stocks: Gulf shares muted on lower corporate earnings; US inflation in focus
Stock markets in the Gulf were subdued in Monday, as investors remained cautious ahead of U.S. July inflation data, while a slew of regional corporate earnings also weighed on the sentiment. U.S. consumer prices, scheduled for Tuesday, will offer cues on the Federal Reserve's path for rate cuts. A hotter-than-expected reading could dampen expectations for near-term interest rate reductions. Traders are currently pricing in about a 90% probability of easing in September and at least one more cut by year-end. Monetary policy shifts in the U.S. have a significant impact on Gulf markets, where most currencies are pegged to the dollar. Saudi Arabia's benchmark stock index slipped 0.3%, with most constituents in the red. Saudi Advanced Industries Co slumped 7% after the investment firm posted a second-quarter net loss, compared to profit a year earlier. MBC Group slid 3.7% after reporting a 38% fall in quarterly net profit. Among other losers, Almunajem Foods Co dropped 10% after the food products company reported a 51% year-on-year decline in quarterly net profit on Sunday. Dubai's benchmark stock index was down 0.1%, with communication, real estate and financial stocks retreating. Emirates Central Cooling dropped 1.1% and bellwether Emaar Properties fell 0.7%. Tolls operator Salik and state-run utility Dubai Electricity And Water Authority gained 1.1% and 0.4% respectively. DEWA reported an over-25% jump in second-quarter profit on Friday. In Abu Dhabi, the benchmark index shed 0.1%, pressured by a 0.4% drop in Aldar Properties and a 4.3% loss in Ghitha Holding. Dana Gas, however, rose 1.6% after the natural gas company reported a 1% increase in half-year net profit. However, its second-quarter profit dipped 11.8%. The Qatari benchmark index fell 0.3%, with Qatar National Bank, the region's largest lender, down 0.3% and telecoms services provider Ooredoo 1.3% lower. (Reporting by Md Manzer Hussain; Editing by Rachna Uppal)
Yahoo
5 hours ago
- Business
- Yahoo
US Gold Futures Fall as Traders Await Clarification on Tariffs
(Bloomberg) — Gold futures (GC=F) in New York declined as traders awaited clarification from the White House over its tariff policy, after a US government agency stunned the market last week by formally ruling that 100-ounce and one-kilogram bullion bars would be subject to tariffs. Sunseeking Germans Face Swiss Backlash Over Alpine Holiday Congestion New York Warns of $34 Billion Budget Hole, Biggest Since 2009 Crisis Three Deaths Reported as NYC Legionnaires' Outbreak Spreads A New Stage for the Theater That Gave America Shakespeare in the Park Chicago Schools' Bond Penalty Widens as $734 Million Gap Looms Futures were trading about $62 an ounce over the global spot benchmark on Monday, after surging to a record on Friday before erasing gains as the administration told Bloomberg that it would clarify what it called 'misinformation' on the tariffing of gold and other specialty products. The price differential between trading hubs in the US and London fell below $60 an ounce in reaction to the news, after earlier surging to above $100 in response to the initial levy shock. Washington's policy has sweeping implications for the flow of bullion around the world, and potentially for the smooth functioning of the US futures contract. The administration had exempted the precious metal from duties back in April, and until there is long-term clarity, traders say, precious metals markets will remain on edge. 'We see the various segments of the gold markets behaving in an orderly manner as the industry awaits this potential clarification,' Joseph Cavatoni, senior market strategist for North America at the World Gold Council, wrote in a post on LinkedIn. 'We will continue to monitor the situation and update our research and insights as information becomes clearer.' The precious metal has climbed about 30% this year, although the bulk of those gains occurred in the first four months as geopolitical and trade tensions rattled the market. On Friday, prices closed higher for a second consecutive week to within around $100 of April's all-time high. Traders will be looking to Tuesday's US inflation print for clues on how the Federal Reserve will approach interest rates in the months ahead. Economists expect that consumer prices, excluding volatile food and energy, rose 0.3% in July, quickening from a 0.2% increase the prior month. The central bank has been resisting pressure from President Donald Trump to loosen monetary policy, as it seeks to balance the risks of a cooling job market and still-elevated inflation. Lower rates are positive for non-interest bearing gold. US gold futures were down 1.5% as of 1:47 p.m. in Singapore. Meanwhile, spot gold slipped 0.6% to $3,377.77 an ounce. The Bloomberg Dollar Spot Index edged lower. Silver and platinum fell, while palladium edged higher. —With assistance from Yihui Xie. The Game Starts at 8. The Robbery Starts at 8:01 The Pizza Oven Startup With a Plan to Own Every Piece of the Pie Digital Nomads Are Transforming Medellín's Housing It's Only a Matter of Time Until Americans Pay for Trump's Tariffs Russia's Secret War and the Plot to Kill a German CEO ©2025 Bloomberg L.P. Sign up for the Yahoo Finance Morning Brief By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
7 hours ago
- Business
- Yahoo
US Gold Futures Fall as Traders Await Clarification on Tariffs
(Bloomberg) -- Gold futures in New York declined as traders awaited clarification from the White House over its tariff policy, after a US government agency stunned the market last week by formally ruling that 100-ounce and one-kilogram bullion bars would be subject to tariffs. Sunseeking Germans Face Swiss Backlash Over Alpine Holiday Congestion New York Warns of $34 Billion Budget Hole, Biggest Since 2009 Crisis Three Deaths Reported as NYC Legionnaires' Outbreak Spreads A New Stage for the Theater That Gave America Shakespeare in the Park Chicago Schools' Bond Penalty Widens as $734 Million Gap Looms Futures were trading about $62 an ounce over the global spot benchmark on Monday, after surging to a record on Friday before erasing gains as the administration told Bloomberg that it would clarify what it called 'misinformation' on the tariffing of gold and other specialty products. The price differential between trading hubs in the US and London fell below $60 an ounce in reaction to the news, after earlier surging to above $100 in response to the initial levy shock. Washington's policy has sweeping implications for the flow of bullion around the world, and potentially for the smooth functioning of the US futures contract. The administration had exempted the precious metal from duties back in April, and until there is long-term clarity, traders say, precious metals markets will remain on edge. 'We see the various segments of the gold markets behaving in an orderly manner as the industry awaits this potential clarification,' Joseph Cavatoni, senior market strategist for North America at the World Gold Council, wrote in a post on LinkedIn. 'We will continue to monitor the situation and update our research and insights as information becomes clearer.' The precious metal has climbed about 30% this year, although the bulk of those gains occurred in the first four months as geopolitical and trade tensions rattled the market. On Friday, prices closed higher for a second consecutive week to within around $100 of April's all-time high. Traders will be looking to Tuesday's US inflation print for clues on how the Federal Reserve will approach interest rates in the months ahead. Economists expect that consumer prices, excluding volatile food and energy, rose 0.3% in July, quickening from a 0.2% increase the prior month. The central bank has been resisting pressure from President Donald Trump to loosen monetary policy, as it seeks to balance the risks of a cooling job market and still-elevated inflation. Lower rates are positive for non-interest bearing gold. US gold futures were down 1.5% as of 1:47 p.m. in Singapore. Meanwhile, spot gold slipped 0.6% to $3,377.77 an ounce. The Bloomberg Dollar Spot Index edged lower. Silver and platinum fell, while palladium edged higher. --With assistance from Yihui Xie. The Game Starts at 8. The Robbery Starts at 8:01 The Pizza Oven Startup With a Plan to Own Every Piece of the Pie Digital Nomads Are Transforming Medellín's Housing It's Only a Matter of Time Until Americans Pay for Trump's Tariffs Russia's Secret War and the Plot to Kill a German CEO ©2025 Bloomberg L.P. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Associated Press
7 hours ago
- Business
- Associated Press
VEX 2025 Global CFD Trading Championship Opens Registration
08/11/2025, Hong Kong, Hong Kong // PRODIGY: Feature Story // $1 Million Prize Pool, 7-Day Cross-Timezone Competition, Traders from Around the World Go Head-to-Head Eastern Time August 2, 2025, VEX Volcano Exchange, an international digital asset platform, today announced the official opening of registration for the VEX 2025 Global CFD Trading Championship. The competition will launch on September 1, 2025, and run for seven consecutive days, welcoming traders worldwide. With a total prize pool of $1 million USD, thousands of participants from 84 countries and regions have already expressed interest and initiated registration. As one of the largest international trading competitions in recent years, this event emphasizes real-world performance of trading strategies across live market conditions. It spans multiple asset classes including digital assets, stock indices, forex, commodities, and derivatives of real-world assets (RWA), offering both professional and retail traders a transparent, fair arena to compete. Competition Mechanics: High-Intensity Realism, Mirroring Professional Trading Environments The 7-day tournament fully covers the Asian, European, and North American trading sessions, requiring participants to continuously manage positions, control risk, and optimize execution under sustained market pressure. The structure mirrors the operational pace of professional traders in hedge funds and proprietary trading firms, rigorously testing psychological resilience, adaptability, and cross-market analytical skills. Compared to previous editions, the 2025 scoring system has been refined to include Sharpe Ratio, maximum drawdown, and trade frequency rationality, in addition to final return. This multi-dimensional evaluation discourages high-risk, all-in strategies and rewards disciplined, sustainable trading behavior. Participants must deposit a minimum of $1,000 USD as initial capital, which will be held in segregated accounts exclusively for competition trading. No additional fees are charged by the platform. Leverage is set at industry-standard levels and adjusted dynamically per asset class. Four Trading Arenas, Separate Leaderboards, Multi-Dimensional Challenges The championship features four distinct trading arenas, each with its own leaderboard and dedicated prizes: Traders may specialize in one arena or compete across all four to qualify for the 'Ultimate Trader' overall ranking. The top 10 in the composite ranking will receive additional rewards and industry-recognized certification. Technology Infrastructure: Low Latency, High Availability, Auditable Execution To ensure fairness and execution quality, VEX aggregates liquidity from over a dozen Tier-1 liquidity providers (LPs), building a deep order book. The average order execution speed is under 10 milliseconds, with historical data showing 92% of orders executed with zero slippage — significantly outperforming industry averages. The system employs a distributed microservices architecture, deployed across multiple data centers with disaster recovery and automatic failover mechanisms, ensuring over 99.9% system uptime. The core trading engine has passed stress tests under tens of thousands of concurrent users, supporting bulk orders, algorithmic strategies, and high-frequency trading modes simultaneously. Multi-Platform Access: Designed for Professional and Mobile Traders The competition supports access via web, iOS, and Android native apps, accommodating diverse user preferences. The desktop platform offers customizable multi-screen workspaces, drag-and-drop layouts, layered technical indicators, and real-time alerts. The mobile app features biometric login, price movement push notifications, and a streamlined trading interface — enabling rapid response during volatile market events. All platforms share the same trading core, ensuring consistent logic and execution results, eliminating unfair advantages from 'platform arbitrage' or 'device-based disparities.' Context: RWA Growth Drives Derivatives Innovation Since its launch, VEX Volcano Exchange has focused on tokenizing real-world assets (RWA), enabling fractional ownership, enhanced liquidity, and cross-border transfer via blockchain technology — opening new investment channels for global investors. According to research firm ChainRadar, the global RWA market surpassed $50 billion USD in 2024, with an annual growth rate exceeding 60%. As regulatory frameworks mature, more traditional financial institutions are exploring collaboration with blockchain platforms. Registration and Key Dates Participants can register, deposit funds, and download the trading guide at the official website: Industry Insight: Trading Competitions as a Talent Pipeline In recent years, the number of trading competitions worldwide has steadily increased. Beyond VEX, numerous exchanges, hedge funds, and blockchain projects are using such events to identify promising trading talent — with top performers often receiving internship offers, job placements, or capital backing. Industry experts note that these competitions not only raise public awareness of financial markets but also provide young traders with a low-barrier, real-world training ground — especially valuable in regions with limited access to traditional financial career paths. VOLCANO CAPITAL LIMITED Contact Us Address：RM C1，11/F TML TOWER 3 HOI，SHING RD TSUEN WAN HONG KONG Email: [email protected] Website: Disclaimer: This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements. Source published by Submit Press Release >> VEX 2025 Global CFD Trading Championship Opens Registration
Los Angeles Times
a day ago
- Business
- Los Angeles Times
L.A. is under the gun to add housing units. The hard part? Where and how many
Los Angeles needs more affordable housing. When presented with the problem in the past, builders and developers were able to turn lima bean fields and orange groves into row after row of homes. But the vast swaths of open land on the city's fringes vanished decades ago. The California Department of Housing and Community Development has said that Los Angeles should add 456,643 new units by 2029 — a number that has generated controversy. To meet those demands, the city will have to create new ways of growing its inventory — strategies that will allow the city's established communities to welcome many more residents than they are able to accommodate now. The big questions are, as always: where, how and how much new housing should be built. The Times reached out to two sources with scenarios that challenge conventional thinking — two plans for the San Fernando Valley, which, half a century ago, provided the space for much of the city's growth. The first scenario proposes awakening a sleepy commercial corridor with low- and mid-rise apartments. The other focuses on 20 miles of vacant land — below electrical transmission lines that snake through the Valley. Like many L.A. suburbs, Reseda began as a small town center surrounded by fields. As the West San Fernando Valley developed after World War II, those fields filled with an expansive grid of single-family homes. Vestiges of Reseda's small-town beginning still survive in block after block of single-story businesses like the Traders pawnbroker and jewelry store at the intersection of Reseda Boulevard and Sherman Way. But snapshots of the future have begun to appear. A few blocks to the north, a five-story apartment building rises between a Thai restaurant and a used car lot. How many more of those would be needed for Reseda, or any similar community, to contribute its fair share of the state's Regional Housing Needs Allocation for the city of Los Angeles? The Times posed that question to Los Angeles-based policy think tank Pacific Urbanism, which has spent years examining the causes of and solutions for L.A.'s housing shortage. Its recent research created an equity scale to calculate targets for individual communities based on five factors: affordability, environmental quality, transit availability, past down-zoning and socioeconomics. In the modern era, housing construction across Los Angeles peaked twice, once before the Great Depression and then in a postwar boom. Reseda was a part of the postwar boom. Initially dominated by single-family homes, growth then shifted to medium-size apartment buildings. Construction of both types fell off precipitously by 1990, as anti-development sentiments gained ascendance. A tiny sliver representing accessory dwelling units has appeared in the last decade, part of a shift in housing topology that is just beginning. The Reseda-West Van Nuys community falls near the middle of the city's 34 community planning areas and will need 13,885 new housing units to meet its target. At one extreme, 14,000 single-family homes would meet the need. At the other it would take 1,400 100-unit buildings. The first is unfeasible — there isn't that much land — and the other, a new high-rise canyon, would be unpalatable. The Pacific Urbanism staff imagined a hybrid model that, they believe, would allow Reseda to achieve its goal with the least amount of community angst. The plan looks a lot like a return to the building patterns of the 1970s but with a few significant differences. Like then, more than half of the new units would be provided in large and medium-size apartment buildings. But in place of single-family home construction that was already dwindling, almost a quarter of the new units would come from new housing types that did not exist then — accessory dwelling units (ADUs) and the conversion of existing commercial space into housing. Above all, the pace of development would have to increase precipitously to reach the state's 2029 goal. The reimagined Reseda includes 37 buildings of 100 or more units, 73 medium-size buildings of 25 to 99 units and 484 duplex and small apartment buildings of up to 24 units. There would be 1,854 ADUs, including more than 1,000 that have already been built or permitted since 2020 and more than a thousand units in commercial conversions. A similar result could be achieved with a different mix of housing types. But Dario Rodman Alvarez, Pacific Urbanism president, says that his organization's hybrid scenario, based on building trends across the city, is the most feasible, if those trends persist. Some progress has been made. Since 2019, city law has given single-family homeowners a right to build second units on their property. A raft of recent state laws provides incentives to builders and homeowners such as increased density for affordable housing and up to four units on single-family lots. And Mayor Karen Bass' Executive Order 1 streamlined the approval of affordable projects. Those changes have helped, but don't 'get us anywhere close to what's needed to meet the target, much less in an equitable way where all communities contribute a fair share,' Alvarez said. According to his calculations, the current rate of construction in Reseda would have to increase 16-fold to meet the target by 2029. Pacific Urbanism proposes upgrading the zoning from medium- to high-density near the intersection of Reseda Boulevard and Sherman Way and creating medium-density zones to replace much of what is now single-family residences and small businesses. A review of the Reseda-West Van Nuys community plan, including the zoning, is underway and is in the consulting phase. It's expected to be complete in a year or two. Considering the fight that single-family communities generally put up to preserve the character of what has come to represent the 'American Dream' — and the single family home and yard —there's no guarantee those changes will be made. The state housing mandate requires the city only to create a pathway to the housing targets by adjusting zoning that is currently too restrictive. If you've spent time in the San Fernando Valley, it would be easy to view the overhead electrical transmission lines that stretch for more than 20 miles simply as essential wallpaper of modern living. The lines help ensure that 1.6 million households and businesses across the city can turn on the lights through a mostly uninterrupted band of 100- to 200-foot tall towers on a 150-foot wide strip of land. But what if that land, which travels through the heart of Northridge, Granada Hills, Mission Hills, Arleta and North Hollywood, could continue to power Los Angeles while also meeting the housing needs of tens of thousands of people? The idea is almost too simple: Put the transmission lines underground and homes on top. We wish such an innovative concept was ours. But it comes from Jingyi 'Jessy' Qiu, a Boston-based landscape designer who conceived of the idea while studying at the Harvard Graduate School of Design a few years ago. In Qiu's vision, the project reclaims dead space in the middle of bustling neighborhoods for the public good. Qiu calls the right of way beneath the power lines 'a land of opportunity to solve the housing problem in L.A.' The project ticks many of the boxes for what large, sustainable development in Los Angeles can be. It's climate-friendly. As the region becomes hotter and drier, taking down overhead power lines lowers the risk of sparking wildfires. And by building in established communities, new residents will be able to reduce their commutes for work and shopping, while existing residents will have new offices and stores nearby. There's a way to pay for it. At one point, the Los Angeles Department of Water and Power, which owns the lines and the land underneath, told us it would cost roughly $100 million to put the lines underground. More recently, the public utility said it couldn't provide a price tag, and that, although possible, undergrounding transmission lines is rare, complex and expensive. An optimist would respond that revenue from the new development could cover much of, if not all, the cost, especially since the land itself would be free. It's a lot of housing. By Qiu's calculations, 23,000 homes could be built along the 20 miles. Qiu modeled the project through designing superblocks that could be repeated end to end throughout each community. Neighborhoods and topography along the route differ and so does the planned development. In North Hollywood, a denser mix of small apartments, mixed-use complexes and single-family homes with casitas fills the flatlands. In Granada Hills, lower densities fit in the highlands. In Northridge, student housing is prioritized near the state university. Today, people who live near the power lines complain of dust, litter and loitering, and worry about wires falling in high winds and storms. It's not that the right of way under the power lines now is unkempt. Many nursery businesses fill the land underneath. Landscaping is maintained. It's just that, as one neighbor put it, barren land attracts negative activity. Of all things, the right of way is dark at night. Besides housing, the development opens up space to the broader community. There's room for continued nursery operations while adding parks, courtyards and shared gardens. Qiu even proposes repurposing some existing transmission towers, especially in the hills, into platforms for bird-watching. One fear, of course, is adding this many new homes to an existing area could cause congestion. But the 20-mile stretch of homes ensures that traffic would be spread out. Superblocks could tie into the current road network and add parking while also providing long and unified bike and pedestrian infrastructure — not to mention the centralized open and community space — to neighborhoods lacking it now. A future Los Angeles that takes its housing and climate challenges seriously will have to look for opportunities to make better use of space. Fitting 23,000 new homes into the Valley by redeveloping a land now used for a relic hits that mark.
