Author: gulf-daily.com

The US dollar declined for a second consecutive session as fresh inflation data reinforced expectations that the Federal Reserve may begin cutting interest rates as early as September. The US Dollar Index (DXY) fell to 97.87, its lowest level since late July, amid growing market consensus that monetary easing is imminent. Consumer price data released for July showed headline inflation remained stable, rising 0.2 percent on the month and 2.7 percent on the year. Dollar volatility rises as Fed policy outlook turns more uncertain Core inflation, which excludes food and energy, increased by 0.3 percent monthly and 3.1 percent annually. While core inflation…

DermaRite Industries, a North Bergen, New Jersey-based manufacturer of over-the-counter healthcare products, has issued a voluntary nationwide recall of multiple soap and skincare products after testing revealed contamination with Burkholderia cepacia complex (Bcc), a bacterium that can cause severe infections. The affected items were distributed across the United States and Puerto Rico, with some sold through major retailers including Walmart and Amazon. The recall, announced on August 8 and detailed by the U.S. Food and Drug Administration (FDA) on August 9, covers specific lots of four products: DermaKleen antiseptic lotion soap with vitamin E, DermaSarra external analgesic cream, KleenFoam antimicrobial…

Spirit Airlines has issued a going-concern warning, raising doubts about its ability to continue operations within the next year, just five months after emerging from Chapter 11 bankruptcy protection. The low-cost carrier, based in Florida, cited persistent weak demand for domestic leisure travel and elevated industry capacity as key factors eroding its pricing power and straining its financial position. The announcement triggered a steep market reaction, with Spirit’s shares plunging more than 40% on Tuesday. In its latest quarterly filing, Spirit reported that the challenging conditions seen in the second quarter of 2025 are expected to persist through year-end, further pressuring…

United States automakers are recalibrating their strategies following significant shifts in federal electric vehicle policy under President Donald Trump. Since taking office, Trump has acted to dismantle measures favoring EVs, beginning with an executive order to eliminate what he described as an “electric vehicle mandate” and to end subsidies benefiting the sector. The Environmental Protection Agency has also proposed rescinding its 2009 finding that greenhouse gases threaten public health, which would remove requirements for automakers to measure, control, or report such emissions. A key provision in Trump’s recent tax and spending bill will terminate federal tax credits for EV purchases after September 30.…

Lamborghini has unveiled the first Ad Personam edition of its newly launched Temerario, debuting in Porto Cervo, Sardinia, during the height of the summer season. The model, named Temerario “Porto Cervo” for the occasion, was introduced at a private gathering in the exclusive Casa Fiorichiari within the Twiga club, attended by 300 guests. This bespoke version reflects the glamour of Sardinia’s coastal elegance and highlights the extensive customization capabilities offered by Lamborghini’s personalization program. The presentation followed the global dynamic launch of the Temerario earlier this month. The name “Temerario,” meaning “bold” in Italian, reflects the car’s fearless performance philosophy and…

United States President Donald Trump announced on Friday that he will meet Russian President Vladimir Putin in Alaska on 15 August to discuss a potential agreement aimed at ending the war in Ukraine. The meeting, which Trump described as a critical step toward achieving peace, comes amid reports that negotiations between the parties have reached an advanced stage. Ukrainian President Volodymyr Zelenskiy has been engaged in talks with both Washington and Moscow in recent weeks, with discussions reportedly focusing on the terms of a possible ceasefire. The conflict in Ukraine, which began in February 2022 following Russia’s invasion, has entered its fourth year with heavy human and economic costs. According…

Switzerland is facing one of its most severe trade challenges in decades after the United States implemented a 39 percent tariff on Swiss exports, a rate among the highest imposed under President Donald Trump’s ongoing overhaul of global trade rules. The levy, which took effect on Thursday, targets a wide range of Swiss products, including luxury watches, jewelry, cheese and chocolate, while pharmaceuticals, Switzerland’s largest export to the U.S., remain temporarily exempt. The decision followed a failed attempt by Swiss President Karin Keller-Sutter to secure a significantly lower 10 percent rate during last-minute negotiations in Washington. The tariff represents a sharp escalation from the 31 percent rate first announced…

Dodge has announced that starting August 13, 2025, every model in the 2026 Dodge Durango lineup will come standard with a HEMI V-8 engine. This marks the first time the entire Durango range, from the base GT to the high-performance SRT Hellcat, will be powered exclusively by V-8 engines, a move aimed at delivering more power, capability, and value across the board. The entry-level 2026 Durango GT will now be equipped with a 5.7-liter HEMI V-8 producing 65 more horsepower than the outgoing V-6 version. Priced from $42,495 in the U.S., the GT is now the most affordable all-wheel-drive V-8 vehicle…

NASA’s Hubble Space Telescope has captured the most detailed images yet of 3I/ATLAS, a rare interstellar comet traveling through our solar system at over 130,000 miles per hour (210,000 kilometers per hour). The observations, made last month, when the comet was approximately 277 million miles (445 million kilometers) from Earth, reveal a teardrop-shaped cloud of dust streaming from its icy nucleus. The latest data offers new insights into the comet’s size and characteristics as it approaches the Sun for a close pass in late October, during which it will remain on the far side of the star from Earth. 3I/ATLAS, first detected…

Gold futures in the United States surged to a record high on Friday after confirmation that country-specific import tariffs may apply to the most widely traded bullion size, the one-kilogram bar. The ruling, posted by the US Customs and Border Protection (CBP), classifies these bars under a category subject to tariffs, raising concerns over disruptions to global gold supply chains. The development places New York, one of the three key global pricing venues alongside London and Shanghai, at a steep price premium compared to other markets. The CBP decision reclassifies one-kilogram and 100-ounce gold bars under code 7108.13.5500, categorizing them as “semi-manufactured” rather…