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The British pound fell slightly against a firmer dollar on Thursday but remained close to four-month highs, bolstered by the UK’s relatively measured approach to U.S. trade ructions. The pound was last down 0.15% at $1.2941, having hit $1.299 on Wednesday, its highest level since November 7. “It’s mostly a dollar story at the moment driving markets. Cable is easing back from almost touching 1.30, moving back towards 1.29,” said Francesco Pesole, FX strategist at ING of Thursday’s slight GBP weakness. Analysts highlighted Britain’s largely balanced trade position with the U.S. as a supportive factor for the pound. While the…
On October 25, 1985, Emirates operated its first flights from Dubai to Karachi and Mumbai, using a Boeing 737 and an Airbus 300 B4The Emirates Group is one of Dubai’s most popular brands. Emirates airline, the group’s flagship entity, is one of the world’s best and most recognisable carriers, putting Dubai on the world map. The airline brings in millions of tourists into the UAE every year, helping sustain the boom in tourism that has become a key contributor to the emirate’s GDP.Other key brands operating under the group are dnata, one of the world’s largest air services providers, and…
The stock market has been rocked over the past month as recession fears mounted on Wall Street and Donald Trump’s shifting tariff policy escalated into a global trade war. Since the Club’s February Monthly Meeting, the S & P 500 , Nasdaq Composite and Dow Jones Industrial Average surrendered all their postelection gains. The tech-heavy Nasdaq also entered into correction territory, defined as down more than 10% from a recent high, and on Monday posted its steepest one-day drop since 2022. The stock market’s slide has come amid a string of disorderly trade policy moves , which have shaken corporate…
The Canadian dollar rose against most major rivals today following the Bank of Canada’s interest rate decision. The Bank of Canada cut overnight interest rates by 25 basis points to 2.75%, the lowest since July 2022. It’s the seventh interest rate cut in the current BOC monetary easing cycle, as inflation remained near the bank’s 2% target. Current inflation rates hover around 1.9%, and it comes amid uncertainty in the market and economic disruptions as US President Donald Trump imposes tariffs on steel and aluminum, which went into effect on Wednesday. Trump repeatedly imposed 25% tariffs…
The new regulation includes all essential elements for certifying drone air navigation service providersThe UAE General Civil Aviation Authority (GCAA) has introduced the region’s first national regulation for the certification of air navigation service providers for unmanned aircraft, referred to as CAR Airspace Part Uspace. This regulation establishes a thorough framework for organizations aiming to deliver air navigation services for drones, ensuring they adhere to stringent operational and safety prerequisites.Comprehensive framework for certificationRead more | WGS 2025: UAE initiates mapping of air corridors to revolutionize urban transportation with air taxis, cargo dronesCommitment to safety and efficiencySaif Mohammed Al Suwaidi, director-general…
My top 10 things to watch Thursday, March 13 1. President Donald Trump said today he plans 200% tariffs on alcohol from France and other European nations if the EU does not remove 50% levies on U.S. whiskey imports. 2. U.S. stocks were looking at a lower open following Trump’s tariff threat, which came out shortly before the government’s cooler February wholesale inflation reading. Wednesday’s consumer inflation gains were also smaller than expected. 3. Concerns about tariffs and their impact on the U.S. economy have the Dow on a three-session losing streak. The S & P 500 and Nasdaq were…
Wholesale prices were flat in February providing some more welcome news on inflation amid tariff fears, the Bureau of Labor Statistics reported Thursday.The producer price index, considered a leading indicator for pipeline inflation pressures, showed no gain for the month after jumping an upwardly revised 0.6% in January, seasonally adjusted figures showed. Economists surveyed by Dow Jones had been looking for a 0.3% increase.Excluding food and energy, core PPI decreased 0.1%, also against an estimate for a 0.3% rise and the first negative reading since July. Core prices excluding trade services showed a gain of 0.2%, also below a 0.3%…
Russia’s President Vladimir Putin attends a meeting with his Belarusian counterpart Alexander Lukashenko at the Kremlin in Moscow, Russia, March 13, 2025. Maxim Shemetov | ReutersU.S. negotiators are in Moscow for Ukraine war ceasefire talks on Thursday, but Russia’s willingness to buy into the terms of a temporary truce devised without its input is still in question.Russia is under pressure to sign up to the White House-brokered 30-day ceasefire agreement, which the U.S. says will show whether the Kremlin is serious about ending the war against Ukraine.U.S. Secretary of State Marco Rubio on Wednesday said the ball was in Russia’s court…
The government has reduced the buyback rate for net metering electricity to Rs10 per unit from previously Rs27 per unit, attributing the decision to “significant increase in the number of solar net-metering consumers, with associated financial implications for grid consumers”. The Economic Coordination Committee (ECC) of the Cabinet, under the chairmanship of Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, approved a set of amendments to the existing net-metering regulations aimed at reducing the “growing financial burden on grid consumers”, according a statement from the Finance Division on Thursday. “As part of the approved changes, the ECC has revised…
The Canadian dollar rose against most major rivals today following the Bank of Canada’s interest rate decision. The Bank of Canada cut overnight interest rates by 25 basis points to 2.75%, the lowest since July 2022. It’s the seventh interest rate cut in the current BOC monetary easing cycle, as inflation remained near the bank’s 2% target. Current inflation rates hover around 1.9%, and it comes amid uncertainty in the market and economic disruptions as US President Donald Trump imposes tariffs on steel and aluminum, which went into effect on Wednesday. Trump repeatedly imposed 25% tariffs…