Updates on the local and global economy and financial markets.
On Saturday, President Donald Trump signed an executive order aimed at protecting the financial proceeds from Venezuelan oil sales held in U.S. treasury accounts, preventing any potential legal claims or seizures.
Italian energy company Eni plans to invest up to $100 million to drill two new offshore wells in the Denis field near Port Said, aiming for production by 2027.
The International Monetary Fund identifies 2026 as a crucial year for the Saudi economy, noting that the Kingdom is well-positioned to navigate challenges such as declining oil prices and increasing financing demands.
A fleet of oil tankers has returned to Venezuelan waters after departing in January, according to the state oil company PDVSA. This development coincides with ongoing negotiations for a new oil supply deal with Washington.
The Bank of France cautions that failure to reduce the budget deficit to 5% or less could lead to long-term financial challenges for the country.
U.S. Energy Secretary Chris Wright stated that the influence of the United States in Venezuela has evolved, with the Venezuelan government showing a growing readiness to collaborate with Washington and address corruption issues.
Swiss authorities have frozen the assets of Venezuelan President Nicolás Maduro, shortly after his arrest by U.S. forces in Caracas on January 3, amid escalating international scrutiny of his administration.
The U.S. Department of Energy has initiated the global marketing of Venezuelan oil, with revenues directed to U.S.-controlled accounts to ensure transparency and mutual benefits for both nations.
Xi Jinping's New Year speech outlines a long-term vision of competition with India, emphasizing China's strategic advantages and the need for India to adapt.
In December, Egypt's foreign currency reserves surged by $1.236 billion, achieving a record level, as reported by the Central Bank.
U.S. President Donald Trump announced plans for significant investments by American oil companies in Venezuela, focusing on infrastructure projects. This move follows recent military actions and reflects a strategy of economic engagement with the country.
In 2025, the Russian ruble achieved remarkable gains of approximately 44.2% against the US dollar, making it the strongest currency globally.
In 2025, global sovereign wealth funds saw their managed assets rise by approximately $1.8 trillion from the previous year, underscoring their effectiveness in diversifying investments and stabilizing income sources amidst market volatility.
As 2026 approaches, the US dollar faces significant losses, influenced by market expectations regarding interest rates and potential Federal Reserve leadership changes.
The Libyan National Oil Corporation reported a 21% increase in average daily crude oil production for 2025, reaching 1.374 million barrels per day, the highest output in ten years.
In 2025, the Argentine peso suffered a dramatic decline, leading a group of underperforming currencies impacted by hyperinflation and economic instability.
Luberef Saudi Arabia announced the successful completion of its largest maintenance operation at the Yanbu facility, with operations scheduled to resume on January 1, 2026.
Kuwait's latest initiative to alleviate citizens' debts has successfully settled over 15 million Kuwaiti Dinars, assisting thousands in regaining financial stability.
In October, U.S. oil production reached a record 13.87 million barrels per day, driven by increases in New Mexico and the Gulf region, despite a minor drop in Texas output.
Mortgage interest rates in the United States have fallen this week to their lowest point of the year, presenting a favorable opportunity for prospective buyers to purchase homes or refinance existing loans at more advantageous rates.
