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Economy

Oil rises thanks to the US Central Bank’s statements and tension in the Middle East by Reuters

by Alexandra Hartman Editor-in-Chief January 5, 2024

written by Alexandra Hartman Editor-in-Chief

2024-01-05 03:23:00

SINGAPORE (Archyde.com) – It rose on Friday following the minutes of the Federal Reserve meeting indicated that inflation was under control as US Secretary of State Antony Blinken prepared for a tour of the Middle East to prevent escalation in the conflict between and Gaza.

By 0229 GMT, crude futures rose 37 cents, or 0.5 percent, to 77.96 per barrel. US West Texas Intermediate crude futures increased 50 cents, equivalent to 0.7 percent, to $72.69.

The two benchmark crude oils recovered almost all of the losses they incurred on Thursday, when settlement prices recorded a decline following a volatile session due to a large weekly increase in gasoline and distillate stocks. Both prices are heading to end the first week of the year on the rise.

The minutes of the US Central Bank meeting did not provide direct indications regarding when interest rate cuts might begin, but the discussions showed a growing feeling that inflation is under control and growing concern regarding the risks of “excessive tightening” of monetary policy on the economy.

Lower interest rates reduce consumer borrowing costs, which may boost economic growth and demand for oil.

Concerns regarding supplies increased due to developments in the Middle East, as the Israeli Defense Minister said on Thursday that the forces intend to follow a new, more targeted approach in the northern part of the Gaza Strip and continue to pursue the leaders of the Palestinian Islamic Resistance Movement (Hamas) in the south.

The US State Department said that Secretary Blinken will head to the Middle East to make diplomatic efforts over a week with the aim of preventing the conflict from expanding.

(Prepared by Duaa Muhammad for the Arabic Bulletin)

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#Oil #rises #Central #Banks #statements #tension #Middle #East #Archyde.com

January 5, 2024 0 comments

Economy

Five Montreal restaurants announced their closure in less than 24 hours

by Alexandra Hartman Editor-in-Chief January 5, 2024

written by Alexandra Hartman Editor-in-Chief

2024-01-05 05:02:32

After the three Brasserie T! restaurants, managed by Normand Laprise, two other Montreal restaurants announced their closure in less than 24 hours. These are the Beaufort bistro, on Plaza Saint-Hubert, and the Les Malins café-boutique, on Avenue du Mont-Royal.

Is this the start of a massacre? “It will not necessarily be a massacre, but yes, there will be closures,” predicts Martin Vézina, vice-president of public and government affairs for the Association Restauration Québec (ARQ).

These announcements reflect the difficulties experienced in this economic sector at the start of the year. Restaurant owners are struggling with significant increases in food prices and wages, combined with a drop in attendance since this summer. Many are still in debt due to efforts to survive the pandemic. According to the ARQ, many of them have to refinance, through their financial institution, the $40,000 loan obtained through the federal government’s Emergency Account for Canadian Businesses, which expires on January 18.

“Will, in the coming years, with the economic slowdown, restaurants have good enough traffic to think regarding repaying this loan? This is a concern in the industry, says Mr. Vézina. With the fall a little moribund and a holiday season that may not have been in their favor, some restaurateurs will do the math in January and make the decision to close, because now is not the time to they will remake themselves. This is a historically low-traffic period. »

In the case of the Beaufort bistro, which had existed for around ten years, a major rent increase added to these challenges. “I mightn’t fulfill my financial obligations,” said the owner, Jean-François Girard, who is going through business and personal bankruptcy, in an interview.

He thus lost the $600,000 he said he invested in renovating the former Reitmans store where his restaurant moved in 2022. Until December, he hoped to find new investors to stay afloat. “But the outlook is not very encouraging in catering. Everyone is nervous,” said Mr. Girard, a few minutes following handing over the keys to his premises. He expects several more restaurants to close in 2024.

In a Facebook post, the managers of the boutique café Les Malins spoke of the major current challenges of the catering sector, affirming that “these do not [les] have not spared. “On the other hand, the traffic demonstrated that we were responding to a need in the neighborhood: we have not lost hope that an entrepreneur will take up the torch to continue to bring this unique place to life,” mentions the publication. This café where reading and gourmet sandwiches are featured is managed by Éditions Les Malins. It will close on February 8.

Both closures were greeted with great sadness by dozens of customers on social media.

To watch on video

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#Montreal #restaurants #announced #closure #hours

January 5, 2024 0 comments

Economy

New high! Oil prices on Thursday raise tension in the Middle East. Here are the prices

by Alexandra Hartman Editor-in-Chief January 5, 2024

written by Alexandra Hartman Editor-in-Chief

2024-01-05 03:06:01

Early transactions today, Thursday, January 4, 2024, witnessed a new rise in oil prices, with Middle Eastern countries fearing a halt to supplies due to the cessation of Libyan field production and the escalation of ongoing war events in various countries.

This morning, Brent crude oil rose to record a price of 75.89 US dollars per barrel, and West Texas Intermediate crude also rose to record a price of 70.38 US dollars per barrel.

Read also: The dream of the Mercato is snatched from him Al-Hilal’s intentions seek to seize Al-Ittihad’s first goal in the English Premier League. The fact that studies were suspended during Ramadan for the third semester. Here is a link to the social security calculator developed by the Ministry of Human Resources 2024. Which of them will give up?! The lack of harmony between the Moroccan and the French in the brigadier general opens the departure files in the Mercato

The average price of diesel with 1% sulfur concentration today reached $464.75 per ton, with experts expecting it to continue rising during the coming period as a result of the current situation and unrest in the region, especially the current situation between the Houthis and Yemen and their control of fuel crossings in the world.

Win Big with Eurodreams: Monthly Pension Jackpot of 22,222 Francs for 30 Years

by Alexandra Hartman Editor-in-Chief January 5, 2024

written by Alexandra Hartman Editor-in-Chief

2024-01-04 20:28:00

A lucky person won a monthly pension of 2,222 francs for five years thanks to Eurodreams on Thursday evening. She checked the six correct numbers 15, 21, 22, 29, 30 and 39, announced the Loterie romande.

Offered in Switzerland and seven other European countries, the Eurodreams game offers a main gain in the form of a monthly annuity of 22,222 francs for a period of 30 years.

ATS

The jackpot was won in one of the eight European countries offering this new game. In Switzerland, Eurodreams is operated by Loterie romande and by Swisslos on the German side.

The jackpot is a monthly pension of 22,222 francs for 30 years. To do this, you need to find the 6 correct numbers as well as a special number called “dream”. The draw for the game is carried out on Monday and Thursday evenings.

https://jeux.loro.ch/games/eurodreams

lena, ats

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#lucky #person #monthly #pension #francs #years

January 5, 2024 0 comments

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Economy

Oil rises thanks to the US Central Bank’s statements and tension in the Middle East by Reuters

Five Montreal restaurants announced their closure in less than 24 hours

To watch on video

New high! Oil prices on Thursday raise tension in the Middle East. Here are the prices

Win Big with Eurodreams: Monthly Pension Jackpot of 22,222 Francs for 30 Years

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