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Ukraine Receives $1.5 Billion in Financial Aid

According to Ukraine Prime Minister Denys Shmyhal, the war-struck nation received a “grant of $1.5 billion” from the United States, aimed at revitalizing the economy with regards to budget expenditure for social aid programs and pension payments.

In total, Ukraine received $4.5 billion in international financial assistance from the United States via the World Bank Trust Fund.

MACROECONOMIC DATA ANALYSIS

Thailand Finance Minister reiterated the belief that the economy of the Asian nation is likely to grow 3% to 3.5% in 2022, and 3% to 4% next year, aided by surging exports and a boost in the tourism sector. Thailand expects 8 to 10 million tourists this year, having received five million so far this year.

China will impose sanctions on the CEOs of Boeing Defense and Raytheon due to their affiliation with the U.S. in the latest weapons sales to Taiwan, according to a foreign ministry’s remarks made on Friday. The sales include 60 anti-ship missiles and 100 air-to-air missiles, and the sanctions aim at protecting “China's sovereignty and security interests” as said by foreign ministry spokesperson Mao Ning.

CURRENCIES

The U.S. dollar remained intact on Friday, holding on to its gains on the backs of other currencies including the Canadian dollar which hit 2-year lows amid growing caution of inflation, and the Japanese yen and Chinese yuan slipping relentlessly. The dollar index, which tracks the USD against other major currencies, inched 0.05% lower to 109.392.

GOLD

The price of gold bumped higher on Friday’s trading hours after its value was wounded amid investor & trader concerns of aggressive inflationary hikes by the U.S. Federal Reserve to combat high inflation. The bullion traded 0.59% higher to $1,674 per ounce, remaining near lows unwitnessed in 2 years and a half.

OIL

Oil prices have stumbled for three weeks in a row, ending Friday’s trading session on a low despite trading slightly higher, as the dollar greenback soars amid growing worries that the Federal Reserve will implement another hefty interest rate hike this week.

Brent futures traded 0.80% higher to $91.57 a barrel, while WTI crude futures increased by 0.35% to $85.40 per barrel.

INDICES

USA: S&P500 -0.72%, Dow Jones Industrial Average -0.45%, Nasdaq Composite -0.55%

Europe: FTSE 100 -0.62%, DAX -1.66%, CAC 40 -1.31%

Asia: Nikkei 225 -1.11%, Hang Seng -0.89%, CSI 300 -2.35%, Nifty 50 -1.94%

Newest

Apple Shall Manufacture iPhone 14 in India

Apple announced on Monday that it will manufacture the iPhone 14 in India, as the tech giant shifts some of its manufacturing away from the dominant China.

At an event earlier this month, the tech tycoon unveiled the newest iPhone 14, emphasizing safety improvements over exciting new technical features—with the exception of a new watch designed with adventure in mind.

"The new iPhone 14 lineup introduces groundbreaking new technologies and important safety capabilities. We're excited to be manufacturing iPhone 14 in India," Apple (NASDAQ:AAPL) said in a statement.

Instacart Cuts Staff & Hiring Before IPO

Grocery delivery app Instacart has been letting go of staff, slowing hiring and slashing other expenses as it heads toward a public listing, as reported by The Information reported on Saturday.

Instacart disclosed in May that it had secretly filed with the U.S. Securities and Exchange Commission to go public, a short time after cutting its valuation by 40% to just under $24 billion due to market instability.

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