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Global markets remain on negative course

ISTANBUL: Global markets remain on the negative course as the cautious tone in the statements of Fed officials on Monday contributed to the selling pressure’s gaining strength in equity markets, while uncertainties persist over the timing of the bank’…

Oil prices up as geopolitical tensions fuel supply concerns

ANKARA: Oil prices increased on Monday amid global supply concerns supported by heightened geopolitical risks.

International benchmark Brent crude traded at $85.21 per barrel at 10.29 a.m. local time (0729 GMT), a 0.45% rise from the closing price of…

Tech firm Ericsson to lay off 1,200 staffers

ISTANBUL: Swedish-based tech company Ericsson announced on Monday that it will lay off 1,200 staff as part of its global initiatives to improve its cost position.

The staff reduction will be done in Sweden, Ericsson said.

Ericsson expects “a challen…

Boeing CEO stepping down at end of 2024

ISTANBUL: Boeing announced Monday CEO Dave Calhoun will step down from his role at the end of this year.

“The eyes of the world are on us, and I know that we will come through this moment a better company,” Calhoun said in a letter to employees. “We …

Commodity markets witnessed downward pressure last week

ISTANBUL: Commodity markets were dominated by downward pressure last week, as demand for the US dollar hiked amid concerns that the Fed may cut rates later than other central banks.

Interest rate decisions of central banks influenced commodity market…

New home sales in US fall 0.3% in February

ISTANBUL: New home sales in the US decreased 0.3% in February from the previous month, according to a report released Monday by the Census Bureau and the Department of Housing and Urban Development.

Sales of new single-family homes were at a seasonal…

US stocks open lower to kick off new week

ISTANBUL: US stocks opened Monday with losses to kick off the new week on a lower note.

The Dow Jones was down 69 points, or 0.18%, to 39,406 at 9.42 a.m. EDT. The S and P 500 fell 16 points, or 0.32%, to 5,217.

The Nasdaq, meanwhile, decreased 113 …