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Saudi Shooter Mohammed Tolo Secures Silver in Petanque at Asian Games in Hangzhou

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Saudi Shooter Mohammed Tolo Secures Silver in Petanque at Asian Games in Hangzhou

AAWSAT Flag
AAWSAT Flag

Saudi shooter Mohammed Tolo secured the third Saudi medal at the 19th Asian Games “Hangzhou 2022,” claiming silver in the shot put during the athletics competition held on Sunday, in the presence of Prince Fahd bin Jalawi bin Abdulaziz bin Musaed, head of the Saudi delegation to the tournament.Hangzhou
The decisive throw occurred during the third attempt when Tolo achieved a distance of 20.18 meters, securing his lead, according to SPA. However, in the sixth and final attempt, the Indian athlete "Toor" clinched the gold with a distance of 20.36 meters, while Tolo settled for the silver, and Liu of China earned the bronze with a throw of 19.97 meters.
In response, Prince Fahd bin Jalawi extended his congratulations to Tolo for his remarkable achievement. He also expressed his belief that Tolo is poised to secure the gold medal in future tournaments, highlighting that, at just 22 years old, he is the youngest among his competitors.
Tolo expressed immense joy at securing the silver in the shot put during his debut in Asian tournaments.
He aspires to break the three-consecutive record of Asian gold medals, previously achieved by his colleague Sultan Al-Habashi.

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Federal Reserve Cuts Key Rate by Sizable Half-point

News screens display the Federal Reserve rate announcement on the trading floor at The New York Stock Exchange (NYSE) in New York City, US, September 18, 2024. REUTERS/Andrew Kelly
News screens display the Federal Reserve rate announcement on the trading floor at The New York Stock Exchange (NYSE) in New York City, US, September 18, 2024. REUTERS/Andrew Kelly
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Federal Reserve Cuts Key Rate by Sizable Half-point

News screens display the Federal Reserve rate announcement on the trading floor at The New York Stock Exchange (NYSE) in New York City, US, September 18, 2024. REUTERS/Andrew Kelly
News screens display the Federal Reserve rate announcement on the trading floor at The New York Stock Exchange (NYSE) in New York City, US, September 18, 2024. REUTERS/Andrew Kelly

The Federal Reserve on Wednesday cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years of high rates helped tame inflation but that also made borrowing painfully expensive for American consumers.
The rate cut, the Fed’s first in more than four years, reflects its new focus on bolstering the job market, which has shown clear signs of slowing, The Associated Press reported. Coming just weeks before the presidential election, the Fed’s move also has the potential to scramble the economic landscape just as Americans prepare to vote.
The central bank’s action lowered its key rate to roughly 4.8%, down from a two-decade high of 5.3%, where it had stood for 14 months as it struggled to curb the worst inflation streak in four decades. Inflation has tumbled from a peak of 9.1% in mid-2022 to a three-year low of 2.5% in August, not far above the Fed’s 2% target.
The Fed’s policymakers also signaled that they expect to cut their key rate by an additional half-point in their final two meetings this year, in November and December. And they envision four more rate cuts in 2025 and two in 2026.
In a statement, the Fed came closer than it has before to declaring victory over inflation: It said it “has gained greater confidence that inflation is moving sustainably toward 2%.”
Though the central bank now believes inflation is largely defeated, many Americans remain upset with still-high prices for groceries, gas, rent and other necessities. Former President Donald Trump blames the Biden-Harris administration for sparking an inflationary surge. Vice President Kamala Harris, in turn, has charged that Trump’s promise to slap tariffs on all imports would raise prices for consumers even further.
Rate cuts by the Fed should, over time, lower borrowing costs for mortgages, auto loans and credit cards, boosting Americans’ finances and supporting more spending and growth. Homeowners will be able to refinance mortgages at lower rates, saving on monthly payments, and even shift credit card debt to lower-cost personal loans or home equity lines. Businesses may also borrow and invest more.
Average mortgage rates have already dropped to an 18-month low of 6.2%, according to Freddie Mac, spurring a jump in demand for refinancings.
The Fed’s next policy meeting is Nov. 6-7 — immediately after the presidential election.