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Egypt’s net international reserves reached a record $55.07 billion in June 2026, rising nearly $2 billion from May, central bank data showed. The post Egypt foreign reserves reach record $55.07 billion in June appeared first on Arabian Observer: Observe more. Understand Arabia..

Volkswagen is reviewing up to 100,000 global job cuts, including 50,000 positions already covered by German agreements through 2030. The post Volkswagen reviews up to 100,000 global job cuts appeared first on Arabian Observer: Observe more. Understand Arabia..

EU Council approval completes the bloc’s process for the EU-Mexico interim trade agreement, now pending Mexico’s domestic procedures. The post EU Council clears modernised interim trade pact with Mexico appeared first on Arabian Observer: Observe more. Understand Arabia..

Donald Trump and Iraqi Prime Minister Ali al-Zaidi discuss wider US cooperation in oil, gas, power, trade and private investment across Iraq. The post US and Iraq expand economic and energy cooperation appeared first on Arabian Observer: Observe more. Understand Arabia..

US stocks ended lower after oil prices surged and chipmakers sold off, leaving the Nasdaq with the steepest decline among major indexes.

Brent crude jumped 9.6% to $83.30 and WTI rose 9.4% to $78.14 as Gulf shipping disruption drove a broad rally across global oil markets.

Gold prices recovered from a two-week low after a 3% selloff linked to rising oil, inflation pressure and stronger rate hike bets.

Brent crude climbed above $79 while WTI passed $74 as fresh US-Iran attacks coincided with reduced shipping through the Strait of Hormuz.

Burjeel Holdings lists its debut $500 million sukuk in London after a $1.6 billion orderbook, marking its first public debt market issue.

China’s temporary helium export ban took effect immediately, covering customs code 2804290010 with no expiry date announced on July 10.