Latest news with #الأنباط
Al Anbat News
3 days ago
- Business
- Al Anbat News
Gold Prices Soar to Unprecedented Heights Amid Global Instability
الأنباط - "Gold Prices Soar to Unprecedented Heights Amid Global Instability" Recently, gold has experienced significant fluctuations in its prices due to ongoing economic and political changes both regionally and globally. Gold prices have been heavily influenced by global inflation, monetary policies implemented by central banks, as well as political tensions and wars, which have led to an increase in demand for gold as a safe haven. Additionally, investment funds and central banks have played a prominent role in driving prices higher. Saleem Dheeb, Secretary-General of the Jewelers' Syndicate, spoke to Al-Anbat, stating: "As inflation rises, the value of gold increases as a safe haven against the erosion of the purchasing power of currencies. Consequently, gold has become a crucial refuge for investors who are looking to preserve their wealth amid the ongoing rise in prices." He pointed out that global deficits and high debt, along with interest rates on the U.S. dollar, have contributed to the surge in gold prices, explaining that whenever interest rates are reduced, gold prices directly increase. This is due to a decrease in returns on U.S. dollar investments, prompting investors to turn to gold as a safer alternative. Dheeb continued: "Since gold is priced in dollars, any decline in the dollar's purchasing power leads to a rise in gold prices against the dollar. This depreciation of the dollar contributes to the increased demand for gold, thereby pushing its prices higher." He noted that one of the key factors contributing to the rise in gold prices has been the continuous effort of investment funds and central banks to increase their gold reserves, creating pressure on supply and further driving up prices. Dheeb further explained that the U.S. Federal Reserve's monetary policy has been caught between two difficult choices: either raise interest rates to curb inflation, which could lead to increased unemployment and a decrease in durable goods sales, or lower interest rates, which would lead to a rise in gold prices. He also emphasized that economic decisions made by the U.S. administration under President Trump significantly contributed to the rise in gold prices, particularly with changes in policies such as raising tariffs, followed by President Trump's visit to the Middle East, which brought some stability to gold prices. However, with the ongoing Gaza conflict, the Russia-Ukraine war, and Israel's entry into a war with Iran, gold prices have once again experienced extreme volatility. On the other hand, Dheeb highlighted the impact of global prices on the local market in Jordan, where pricing starts from the global price and is then adjusted based on local supply and demand. He added that demand for gold in Jordan has shifted this year, with investment purchases surpassing those for jewelry. The market has seen an increase in demand for gold ounces and liras, particularly after the price of an ounce rose by more than 30% in one year. He mentioned that the Jewelers' Syndicate has kept up with price fluctuations by issuing daily bulletins on changes in global prices. The Syndicate also allowed the production of 14-karat gold in an effort to offer an option more suited to the financial capabilities of citizens, while closely monitoring local markets in collaboration with the Jordan Standards and Metrology Organization. Mohammad Al-Hroub, a trader, stated that the rise in global gold prices has become extreme, especially given the ongoing wars between Russia and Ukraine, the Gaza conflict in the Middle East, and the recent war between Iran and Israel, along with the continuous political tensions in the region. He also pointed out that China has been buying large quantities of gold as a safe haven, adding economic weight. He observed the confusion and anxiety evident in the actions of local citizens, as the vast majority are now buying gold as a store of wealth rather than for decoration. This shift has led to an increase in demand for both the Rasheed and English gold liras, as well as ounces. Many people have also opted to sell their existing gold and jewelry in order to make substantial profits compared to gold prices from previous years. Al-Hroub noted that local traders and gold markets have adapted by offering lower-karat gold jewelry, such as 14-karat gold, and smaller weights, making it more affordable for citizens, especially those preparing for marriage. He emphasized that many young couples are now unable to afford the traditional wedding jewelry, known as "the bride's dowry," which is a crucial part of Jordanian marriage customs. In conclusion, gold prices remain susceptible to ongoing fluctuations due to global political and economic events. Despite the challenges facing gold markets, this precious metal will continue to be one of the safest havens sought by individuals and institutions during times of crisis. It is expected that gold price volatility will continue based on changes in monetary policy and global geopolitical factors, making it crucial for investors, traders, and citizens to closely monitor these developments.
Al Anbat News
23-04-2025
- Business
- Al Anbat News
Orange Jordan Unveils its All-New "Ma'ak" Mobile Lines
الأنباط - For the first time in the Kingdom: Free 5G Service. Unprecedented Rewards for All Orange Jordan Unveils its All-New "Ma'ak" Mobile Lines Orange Jordan is reinforcing its promise to customers across Jordan by launching innovative digital experiences and unprecedented offers to be always "here' for them and with them, marking a significant step in its commitment. This includes brand-new mobile offerings for both prepaid and postpaid subscribers, along with a completely reimagined rewards program. These developments demonstrate Orange Jordan's dedication to understanding and responding to the evolving needs of its customers, in addition to the requirements of the digital age. This strategic and significant announcement embodies the "Orange is Here' slogan, introduced last year. The new "Ma'ak' plans have been specifically created to cater to the diverse and customized needs of Orange Jordan's customer base. In a move to empower every Jordanian with access to the digital world, Orange Jordan is proud to be the first in the Kingdom to offer all-free 5G services to all "Ma'ak' subscribers. This allows customers to seamlessly and smoothly select the features that best suit their specific needs, unlocking a world of comprehensive digital possibilities starting today. These competitive offers begin at just JD 6.50. Orange Jordan also offers the widest 5G network coverage across Jordan. To further enhance the online experience, customers who purchase new lines through Orange Jordan's digital channels, such as the E-shop, the Max it, and Jood applications will receive a 25% extra Internet bundle within their subscription. Additionally, Orange Jordan is excited to relaunch its loyalty program, "Tikram,' under a new name: "Max it Rewards.' This reintroduced program will offer all subscribers exclusive rewards, with youth customers benefiting from double points. And because Orange values every customer, everyone will be entitled to join the program with no minimum spending per month opening a whole new era of loyalty and rewards concept. The CEO of Orange Jordan, Eng. Philippe Mansour, expressed his great pride in the company's proactive approach, which not only places it at the forefront of the local market but also empowers every Jordanian to embark on a digital journey where Orange is "here" every step of the way. This is particularly true as it coincides with the 25th anniversary of Orange Group's partnership with the Jordanian government and its customers. Eng. Mansour further added that Orange continues to align with the latest global trends in customer experience and mobile portfolio management, making the new customer experience a comprehensive formula that combines the customized needs of each customer along with future considerations. The company also culminates its commitment to providing the best 5G coverage by enabling the largest possible number of customers to get access to the network through both coverage and new offers. To learn more, visit our website: - End – About Orange Jordan Orange Jordan, with over 1800 employees across nearly 300 shops and locations throughout Jordan, strives to provide the best customer experience through an integrated set of digital solutions including fixed lines, mobile lines, internet, data, and Smart Life Solutions to around 4.6 million customers in Jordan. Orange Jordan is a subsidiary of Orange Global Group, which is present in 26 countries worldwide. In line with the Group's strategy "Lead the Future' and through its positioning as a true responsible digital leader, Orange Jordan supports the national digital transformation vision. Orange Jordan prioritizes community service, and in this context, it implements a comprehensive CSR strategy that revolves around 4 pillars including digital education, digital inclusion, entrepreneurship, climate, and environment. In addition to serving individual customers, Orange Jordan offers tailored solutions for businesses through its sub-brand, (Orange Business). To learn more, please visit our website: About Orange Orange is one of the world's leading telecommunications operators with revenues of 40.3 billion euros in 2024 and 127,000 employees worldwide at 31 December 2024, including 71,000 employees in France. The Group has a total customer base of 291 million customers worldwide at 31 December 2024, including 253 million mobile customers and 22 million fixed broadband customers. These figures account for the deconsolidation of certain activities in Spain following the creation of MASORANGE. The Group is present in 26 countries (including non-consolidated countries). Orange is also a leading provider of global IT and telecommunication services to multinational companies under the brand Orange Business. In February 2023, the Group presented its strategic plan "Lead the Future", built on a new business model and guided by responsibility and efficiency. "Lead the Future" capitalizes on network excellence to reinforce Orange's leadership in service quality.
