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US stock indices fell on Tuesday and expanded the losses amid new escalation in the trade war, which threatens a potential recession in the US.    President Trump said during a Fox News interview that the US is undergoing a transition phase, with return of wealth to the US through trade and economic policies, including tariffs to boost local industry.   In yet another escalation, US President Trump raised tariffs on Canadian steel and aluminum imports by an additional 25% to a total of 50%.   Trump said the decision comes in response to Ontario’s decision to impose 25% taxes…

This expansion showcases greater utilization of government assets to boost economic growth and private partnerships Bahrain has announced the introduction of 23 new investment opportunities via the Government Land Investment Platform, marking the largest offering since the platform’s inception.Nouf Abdulrahman Jamsheer, chairperson of the Government Land Investment Committee and undersecretary for Research and Projects at the Office of the Prime Minister, stated that this expansion signifies the growing utilization of government assets to boost economic development, strengthen partnerships with the private sector, and promote projects that align with the aspirations of citizens across the various regions and governorates of the…

My top 10 things to watch Wednesday, March 12 1. Wall Street was heading for a higher open that kicked into a higher gear on cooler-than-expected consumer inflation data. The stock market has been slammed recently on economic worries about President Donald Trump’s tariffs. 2. February’s consumer price index rose 2.8% year over year. Core CPI, excluding food and energy prices, gained 3.1% year over year. Both numbers this morning were lower than expected. Wholesale inflation data is out tomorrow. 3. Tariffs went on today. Trump imposed 25% levies on steel and aluminum imports. The U.S. imports nearly 30% of our…

China’s ambitious “Made in China 2025” industrial strategy has put the country on track to become a global leader in smart manufacturing within the next few years, though breakthroughs are still needed in several bottleneck technologies, according to a new report by Beijing’s Renmin University of China.The Made in China 2025 project, launched a decade ago, aimed to propel China to the forefront of a slew of hi-tech industries, including aerospace, electric cars, robotics and telecommunications.Though Beijing has become reluctant to publicly name-check the policy in recent years amid global pushback – especially from the United States – the strategy…

In an aerial view, a Volkswagen assembly plant is seen on April 19, 2024 in Chattanooga, Tennessee.Elijah Nouvelage | Getty Images News | Getty ImagesPorsche’s CEO Oliver Blume on Wednesday said the company could lean into its partnership with Volkswagen — which has its own U.S. manufacturing base — as it braces for potential tariffs imposed by the White House.”We have an industrial cooperation agreement together with Volkswagen, and in the end, we are working so close together, so this should play a role” in responding to tariffs, Blume told CNBC’s Annette Weisbach.The U.S. is Porsche’s top market, but the…

Prices for goods and services moved up less than expected in February, providing some relief as consumers and businesses worry about the looming impact tariffs might have on inflation, the Bureau of Labor Statistics reported Wednesday.The consumer price index, a wide-ranging measure of costs across the U.S. economy, ticked up a seasonally adjusted 0.2% for the month, putting the annual inflation rate at 2.8%, according to the Labor Department agency. All-item CPI had increased 0.5% in January.Excluding food and energy prices, core CPI also rose 0.2% on the month and was at 3.1% on a 12-month basis. Core CPI has…

Al Etihad Payments ties up with Mastercard to offer the co-branded cards in the UAEAl Etihad Payments and Mastercard have announced a strategic collaboration to launch ‘Jaywan-Mastercard’ co-badged debit and prepaid cards in the UAE.Al Etihad Payments, a wholly owned subsidiary of the Central Bank of the UAE (CBUAE), operates the UAE’s national card switch (UAESWITCH) and manages domestic card scheme Jaywan.Jaywan-Mastercard debit and prepaid cards will enable cardholders to carry out secure, simpler, smarter and more accessible payment transactions, including e-commerce transactions, setting a new benchmark in the UAE’s payment landscape by combining innovative products and value-added services.Wide range…

Dubai’s luxury transport sector recorded a 44 percent increase in trips in 2024, reaching 43,443,678 compared to 30,219,821 in 2023. The sector has achieved record growth, the highest in recent years for the luxury transport sector via e-hail, Dubai Media Office reported.This growth in the luxury transport sector and e-hail services confirms the strategic vision adopted by the Roads and Transport Authority in Dubai to enhance mobility solutions and meet the growing needs of residents and visitors alike.Read more | Dubai: 747 million riders used public transport, taxis in 2024 with daily average exceeding 2 million Sustained growthAdel Shakri, director of…

As we enter 2025, the S&P 500 index has captured the attention of investors on Wall Street with its climb to new record levels.   Last February, the upward momentum of one of the most important U.S. stock indices continued as it surpassed the 6,000‐point barrier for the first time in its history and recorded an all‐time high of 6,147 points.   This strong performance has raised investor optimism, but at the same time, it has led analysts to cautiously anticipate the index’s trajectory in the new year—especially in light of political and economic developments that could reshape the financial…

As the risk of an economic slowdown grows in the United States, a trade pact with China could help reduce its severity by obliging Chinese importers to buy more American goods and making Chinese products cheaper in the US, analysts said, while cautioning that many obstacles stood in the way of any such deal.An agreement binding China to buy more US agricultural and energy products – something similar to the phase one trade deal reached in 2020 – would give the US a quick windfall, economists said.They said that if a reduction in US tariffs on imports from China, particularly…