The 2020-2021 season was very bad financially, at least, as the Spanish League announced a loss of 892 million, due to the effects of the Corona virus on the player market and ticket sales.
The association announced that its revenues last season amounted to 3.818 billion euros, and the volume of losses amounted to 892 million euros, and that Barcelona caused 56 percent of them.
Javier Gomez, director general of the association, said that the effects of this were reflected in the current season, where the expected losses will be 297 million.
Gomez explained that this is due to two main reasons, namely the decline in player transfers, and the absence of income resulting from subscriptions and ticket sales, as almost the entire season was played without fans.
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Kuwaiti newspaper newspaper | Oil prices fell due to the closures in China
written by Alexandra Hartman Editor-in-Chief
Oil futures prices fell during trading on Tuesday, following fears of falling demand as a result of the closure measures in China to combat the emerging Corona virus, outweighed fears of supply disruptions due to the Russian war once morest Ukraine.
West Texas crude, the US oil benchmark, was trading at around $102 a barrel today, in a trading session that was characterized by a lack of cash available.
And the Bloomberg news agency indicated that crude oil prices fluctuated during the past three weeks in the range of $ 15 a barrel, as markets evaluate fears of a decline in demand due to measures to combat the Corona virus in China, the largest importer of crude oil in the world, and fears of supply disruptions due to the Russian war.
Investors are also awaiting the approval of the US Federal Reserve (Central Bank) during its periodic meeting, which begins tomorrow and lasts for two days, for the largest increase in the US interest rate since 2000, which might reduce the demand for crude.
The price of West Texas Intermediate crude fell today by $2.76 to $102.41 a barrel in the New York Mercantile Exchange.
Brent crude, the global oil benchmark, fell by $2.61 to $104.97 a barrel in trading on the London Stock Exchange.
Kuwait .. A new development regarding the detention of Sheikh Fahd Salem Al-Sabah after his arrest due to a tweet
written by Alexandra Hartman Editor-in-Chief
Al-Marsad newspaper: The Public Prosecution released Sheikh Fahd Salem Al-Ali Al-Sabah with a financial guarantee following his detention continued for three days in a state security case due to a tweet that the Ministry of Interior considered criminal, despite the accused deleting it from his Twitter account.
According to “Al-Qabas”, quoting an informed source, the Public Prosecution is still investigating the case and it is expected to refer it to the Criminal Court and demand that the legal punishment be imposed on the accused.
The source pointed out that deleting the criminal tweet does not absolve its owner from punishment.
The price of gold fell due to pressures of rising US Treasury bond yields and anticipation of a meeting of the Federal Reserve
written by Alexandra Hartman Editor-in-Chief
Gold prices fell as rising US Treasury yields pressured gold demand, ahead of a key meeting of the Federal Reserve (the US Central Bank) later this week, when the central bank is expected to raise interest rates.
And gold fell in spot transactions 0.3 percent to $ 1890.69 an ounce at 00:53 GMT. And gold futures contracts in the United States fell one percent to 1893,4 dollars.
The Federal Reserve’s Federal Open Market Committee is expected to start its two-day meeting on interest rates on May 3 and announce its decision the next day.
It appears that Fed policy makers are ready to announce a series of aggressive rate hikes until at least the summer to counteract rapid inflation and rising labor costs.
The yields of the benchmark US 10-year Treasury bonds rose on Monday, which put pressure on gold demand.
Gold prices rose one percent on Friday following the US dollar fell, but ended the month of April slightly lower due to bets on the US central bank’s tightening of its policy.
As for other precious metals, silver fell in spot transactions by 0.4 percent to $22.66 an ounce, platinum fell 0.2 percent to $929.51 and palladium fell 1.7 percent to $2281.99.