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The US dollar was on track Friday to record its worst weekly performance since July, as escalating trade tensions between the United States and China, along with signs of weakness among US regional banks, drove investors toward safe-haven assets such as the Swiss franc and the Japanese yen. Further signs of softness in the US economy have emerged, while the ongoing federal government shutdown has delayed the release of key economic data, leaving investors less certain about the true state of economic conditions. The Swiss franc reached its strongest level in a month, while the yen also strengthened,…
Foreign tourists in China are increasingly drawn to shopping, said Steven Zhao, CEO of China Highlights, a travel agency that organises tours of the country.“They’ll buy drones and take them back home,” he said, noting the trend has become “more obvious” over the past two years – especially among Middle Eastern travellers – as China produces an outsized share of the global total, with some devices small enough to fit in the hand.“Drone prices are cheap and the choices are numerous,” he said, referring to products available on the Chinese market.Relaxed visa policies could make China an even stronger draw…
In a rare public display, China has showcased the advanced capabilities of the cutting-edge Z-20T assault helicopter at a military exhibition in Tianjin this week, demonstrating precision manoeuvres by the all-weather aircraft.The helicopters performed a hover salute, a backward ascent and a vertical climb and also fired jamming flares at the 7th China Helicopter Exposition, which wraps up on Sunday.The last time the Z-20T was seen in public was on September 3, when seven of the aircraft flew over Tiananmen Square during Beijing’s Victory Day parade.This model is an army-specific version of the Z-20 helicopter and is designed for air…
The US dollar was on track Friday to record its worst weekly performance since July, as escalating trade tensions between the United States and China, along with signs of weakness among US regional banks, drove investors toward safe-haven assets such as the Swiss franc and the Japanese yen. Further signs of softness in the US economy have emerged, while the ongoing federal government shutdown has delayed the release of key economic data, leaving investors less certain about the true state of economic conditions. The Swiss franc reached its strongest level in a month, while the yen also strengthened,…
In a turnaround from the tough stance he took a week ago, US President Donald Trump said Friday that he planned to meet with Chinese President Xi Jinping in South Korea in two weeks and suggested that imposing an additional 100 per cent tariff on all Chinese goods appeared unworkable.But he also blamed China for the latest stand-off in trade talks.“It’s not sustainable, but that’s what the number is,” Trump said on Fox News, suggesting that Beijing had given him little option but to throw out such a high number. “They forced me to do that.”Trump also threatened new export…
The Club’s 10 things to watch Oct. 17, 2025 — Today’s newsletter was written by Investing Club editors Kevin Stankiewicz and Matthew J. Belvedere 1. S & P futures are flat this morning following yesterday’s sell-off on renewed credit quality concerns emanating from regional lenders Zions Bancorp and Western Alliance . It fanned the flames created by the recent bankruptcies of Tricolor and First Brands. The loan issues may give the Fed more reason to cut at its late October meeting, said Jim Cramer. 2. Baird upgraded Zions to buy from hold, contending the $1 billion in lost market cap…
A Pakistani Shariah-compliant insurance firm plans to raise about Rs1.1 billion ($3.9 million) in an initial public offering (IPO) next month, taking advantage of Pakistan Stock Exchange’s (PSX) record-breaking rally, according to a Bloomberg report on Friday. Pak-Qatar Family Takaful Ltd will offer 50 million shares at up to Rs21/share through book building, said Shahid Ali Habib, Chief Executive Officer at Arif Habib Ltd., lead manager and book runner to the transaction, in an interview. The funds would be used to meet the minimum capital requirement, expand digital channels and support the development of customer-centric products, Habib said. The company…
KARACHI: In a major step toward liberalising its power sector, Pakistan is set to hold its first-ever auction to sell electricity at a competitive price to bulk consumers by November this year under the newly introduced Competitive Trading Bilateral Contract Market (CTBCM), with the name of winning power suppliers to be announced by January 2026. “We will hold the auction [and announce its results] by end of January 2026,” Independent System and Market Operator (ISMO), Executive Director (Market Operations), Omer Haroon Malik, told Business Recorder on the sidelines of a workshop titled ‘The Stakeholders Workshop: Understanding the Competitive Trading Bilateral…
At the campaign’s launch in Shanghai on Thursday, Alibaba vice-president Zhang Kaifu, who also serves as head of applications for the company’s e-commerce businesses, said the firm’s use of Qwen’s large language models (LLMs) had led to a “significant uplift across a number of key metrics”. Qwen models are developed by Alibaba Cloud, the AI and cloud computing unit of Hangzhou-based Alibaba, owner of the South China Morning Post.Some metrics cited at the launch include a 20 per cent improvement in relevant results for complex queries, a 12 per cent increase in the return on merchants’ advertising costs and a…
A breast cancer awareness fundraiser by a South Korean high fashion magazine has come under fire for focusing too much on the celebrities and not on the cause itself.Photos and videos of celebrities such as BTS’ V and RM, Aespa’s Karina and Lovely Runner actor Byeon Woo-seok drinking and partying at W Korea’s “Love Your W 2025” breast cancer awareness campaign at the Four Seasons Hotel in Seoul’s Jongno district on Wednesday sparked criticism that the event looked more like a fashion party than a charity initiative, The Korea Times newspaper reported.Online comments on W Korea’s social media posts of…