Mother of the Nation Endowment for Orphans’ initiative raises AED3.3bn during Ramadan; launches AED1 bn ‘Mother of the Nation City’ project
UAE sends 30 tonnes of food aid to support drought-affected communities in Kenya
UAE provides urgent relief to support flood-affected communities in Mozambique
UAE signs cooperation agreement with UN World Food Programme to support humanitarian efforts in sudan
Oil Prices Climb on Expectations of Imminent U.S. Interest Rate CutSingapore, 25 Aug (ONA) — Oil prices advanced modestly today, supported by growing optimism for a U.S. interest rate cut that could stimulate economic growth and bolster global fuel demand.Brent crude futures edged up by 6 cents to settle at $67.79 a barrel, while West Texas Intermediate (WTI) crude futures gained 9 cents to reach $63.75.The market’s positive shift was primarily driven by comments from Federal Reserve Chair Jerome Powell on Friday, which significantly strengthened the case for a rate cut at the Fed’s upcoming meeting. This prospect has enhanced investors’ risk appetite, weakening the U.S. dollar and making dollar-priced commodities like oil more attractive to holders of other currencies. The anticipation of lower borrowing costs, which typically spur economic activity, provided a firm foundation for the uptick in crude prices.— Ends/Khalid
