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Gold heads for first weekly drop amid mixed signals from Fed officials

Bloomberg Gold headed for the first weekly decline as traders weighed mixed signals from Federal Reserve officials on the size of the next interest rate increase. Bullion dropped to a three-week low amid an ongoing discussion on whether the Fed will shift to less aggressive rate hikes. The policy makers offered divergent views, with St. Louis’s James Bullard urging another …

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Arab economies to see 5.4% growth this year

Abu Dhabi / WAM The expected economic growth rate for the Arab countries will rise to 5.4 percent in 2022 due to rising oil prices, the increase in production in Arab oil-exporting countries, and the continuation of reforms that promote growth, according to the Seventeenth Edition of the Arab Economic Outlook Report (AEOR), released by the Arab Monetary Fund (AMF) …

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Target misses its lowest profit estimate, yet predicts rebound

Bloomberg Target Corp is betting heavily on a dramatic financial comeback the rest of this year after badly trailing its own forecast as well as Wall Street’s estimates in the second quarter. The retailer stuck with its outlook for operating income of about 6% of sales during its fiscal second half after taking a painful hit from aggressive moves to …

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