Business
Gold hits record high amid trade war concerns, dollar weakens
Gold hits record $3,393 as dollar weakens and trade tensions rise.
NEW YORK, April 21: Gold prices soared to a new record on Monday, fueled by a weakening dollar and rising global economic uncertainty. The precious metal reached over $3,393 per ounce, driven by safe-haven demand as investors grew cautious amid ongoing trade tensions and concerns over the U.S. Federal Reserve’s stance.
While several markets remained closed for the Easter holiday, global markets continued to react to U.S. President Donald Trump’s ongoing tariff disputes, particularly with China. Several nations, including Japan and South Korea, are in talks with Washington to address trade tariffs, with South Korea’s finance and trade ministers set to hold high-level talks in Washington this week.
However, China has warned against any trade agreements that compromise its interests. The country has retaliated against U.S. tariffs with duties of up to 145 percent on American products, while the U.S. imposed a blanket 10 percent tariff on most other nations. China’s commerce ministry has condemned any attempts to prioritize short-term selfish interests over mutual benefits.
Trump, meanwhile, expressed optimism about a potential deal with China, despite the U.S. closing a tariff exemption for small Chinese parcels earlier this month, targeting low-cost online retailers. Global shipping giant DHL has also suspended deliveries of parcels worth more than $800 from businesses to individuals in the U.S.
The dollar fell against major currencies, including the yen and euro, amid concerns over Trump’s criticism of Fed Chair Jerome Powell, who warned that tariffs could cause inflation. Trump raised doubts about the Fed’s independence, calling for interest rate cuts. This created further uncertainty, with the possibility of Powell being removed from his position, which could harm the dollar’s credibility, according to experts.
In global stock markets, movements were mixed: Tokyo’s market suffered due to a stronger yen, while stocks in Shanghai, Seoul, Singapore, and other Asian markets saw gains. Oil prices also dropped, reflecting growing concerns about demand and the broader global economic outlook.
As the week progresses, traders are eyeing upcoming manufacturing data for indications of how Trump’s tariffs are impacting global economies. Analysts warn that the reputational damage to the U.S. is real, with concerns about the long-term effects on American policymaking and its impact on international relations.
Business
Gulf Bank Concludes Successful Participation in University Admission Fairs at Kuwait University and Abdullah Al-Salem University
KUWAIT CITY, Aug 12: As part of its ongoing commitment to supporting education and empowering Kuwaiti youth, Gulf Bank has successfully concluded its distinguished participation in the university admission fairs at Kuwait University and Abdullah Al-Salem University. The Bank actively engaged with new students, introducing them to its tailored banking solutions designed specifically for young people.
Gulf Bank took part in the interactive admission fair held at Kuwait University’s Sabah Al-Salem University City in Al-Shadadiya from 19 to 29 July 2025. The Bank’s booth attracted a high turnout from students and parents, who showed great interest in the banking services designed for university students.
Similarly, the Bank participated in the admission fair hosted by Abdullah Al-Salem University at its Khaldiya campus from 6 to 17 July 2025. Gulf Bank’s presence featured direct interaction with visitors, providing comprehensive information on student accounts and other tailored services.
These participations are part of Gulf Bank’s continuous efforts to strengthen engagement with youth and support them in the early stages of their academic journey. Alongside sharing information on academic majors and admission processes, the Bank also offered financial tips to help students manage their resources effectively from the start of their university life.
At both events, Gulf Bank showcased its red account, one of its leading banking solutions designed for customers aged 15 to 25. The account offers a wide range of benefits, including prepaid cards, exclusive discounts, rewards on purchases, and access to unique events and experiences that enrich both personal and professional growth.
Beyond its features, the red account serves as a platform to promote financial literacy among youth, equipping them with the knowledge and skills to make informed financial decisions early in life – positively shaping their future and fostering a generation that is financially aware and capable of managing resources effectively.
Gulf Bank’s team expressed pride in supporting students throughout their high school and university years, offering innovative banking services designed to keep pace with their fast-paced lifestyles.
Gulf Bank concluded its participation by thanking the administrations of both universities for organizing the fairs, which serve as valuable platforms to connect with youth. The Bank reaffirmed its commitment to continuing its support for educational and youth initiatives that contribute to Kuwait’s development and enhance the quality of life for its students and community.
KUWAIT / LODNON, Aug 12: Menzies Aviation, the leading service partner to the world’s airports and airlines, has announced it will deliver ground, air cargo and fuelling services at Mosul International Airport (OSM) in Iraq through MASIL, its joint venture with Iraqi Airways, Air BP and Al-Burhan Group.
One fully operational, MASIL will provide a full suite of aviation services at OSM, under a new 10-year license, further strengthening its footprint in the region. This builds on MASIL’s operations at Baghdad International Airport (BGW).
MASIL provided ground services for the presidential flight that signified the official reopening of OSM. The flight, attended by Iraq’s Prime Minister Mohammed Shia’ Al Sudani, represented a landmark moment in the airport’s history, which has been non-operational since 2014.
The milestone underscores the joint venture’s capabilities and readiness to support future air traffic at the revitalised airport.
Mosul International Airport has undergone extensive reconstruction and is now equipped with a main terminal, VIP lounge, and advanced radar surveillance system. The airport is expected to be fully operational within the coming months, supporting both domestic and international flights and handling an estimated 630,000 passengers annually.
The expansion marks a significant milestone in the continued growth of the MASIL joint venture across Iraq and demonstrates Menzies’ commitment to supporting the country’s aviation infrastructure and long-term development.
Charles Wyley, Executive Vice President Middle East, Africa and Asia, Menzies Aviation, said: “We’re proud to expand our presence in Iraq with new operations at Mosul International Airport through our MASIL joint venture. This is a major step in our journey to support the redevelopment of Iraq’s aviation sector and bring world-class standards to the country’s airports. Handling the presidential flight was a privilege and a clear signal of MASIL’s professionalism and reliability as a trusted service provider.”
Menzies Aviation and Iraqi Airways formed MASIL in 2021 to provide ground handling, cargo, and fuelling services. The joint venture includes operations at key airports including Baghdad and will soon include Mosul, as it continues to support the modernisation of Iraq’s aviation sector.
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