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The US dollar rose gradually on Monday after fears of a renewed escalation in the trade war between the United States and China eased, while political developments in France and Japan weighed on both the euro and the yen.   The dollar index — which measures the performance of the US currency against a basket of six major peers — climbed 0.2% to 99.2, recovering from last week’s losses that followed President Donald Trump’s announcement of 100% tariffs on China.   That announcement revived memories of “Liberation Day” last April, when Trump imposed sweeping tariffs on Chinese imports, triggering a…

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Monday began a series of official meetings in Washington DC, focusing on investment and development financing as part of his participation in the annual gatherings of the International Monetary Fund (IMF) and the World Bank. According to a statement issued by the Finance Division, Aurangzeb met with Riccardo Puliti, Regional Vice President of the International Finance Corporation (IFC) for the Middle East, Central Asia, Türkiye, Afghanistan, and Pakistan, to review ongoing collaboration and explore new investment avenues. The minister highlighted Pakistan’s improving macroeconomic indicators and appreciated IFC’s role in scaling…

The US dollar rose gradually on Monday after fears of a renewed escalation in the trade war between the United States and China eased, while political developments in France and Japan weighed on both the euro and the yen.   The dollar index — which measures the performance of the US currency against a basket of six major peers — climbed 0.2% to 99.2, recovering from last week’s losses that followed President Donald Trump’s announcement of 100% tariffs on China.   That announcement revived memories of “Liberation Day” last April, when Trump imposed sweeping tariffs on Chinese imports, triggering a…

VIENNA (AP) — The U.N. nuclear watchdog is pushing Ukraine and Russia to agree to local ceasefires so that external power can be restored to Ukraine’s huge nuclear power plant in Zaporizhzhia, two diplomats familiar with the plan told The Associated Press.The plant is in an area under Russian control since early in Moscow’s full-scale invasion of Ukraine and is not in service, but it needs reliable power to cool its six shutdown reactors and spent fuel, to avoid any catastrophic nuclear incidents. It has been operating on diesel generators since Sept. 23 when its last remaining external power line…

China’s ambassador to Brazil used a keynote speech in São Paulo on Monday to reaffirm Beijing’s support for investment and export certifications aimed at helping South America’s largest economy weather US President Donald Trump’s tariff offensive.Speaking at the opening of the annual Brazil-China Business Council meeting, Ambassador Zhu Qingqiao told business leaders, senior Brazilian officials and diplomats that Beijing was committed to sustainable development and building a “world-class” business environment while jointly tackling challenges posed by an increasingly fractious global trade landscape.In a thinly veiled broadside against the US, the diplomat also warned about “some major powers, obsessed with power…

Alibaba Group Holding chairman Joe Tsai has expressed optimism about US-China trade tensions.“I’m actually quite optimistic that we’re not going to devolve into kind of a race to the bottom”, he said during an interview with CNBC dated October 10 and published on Monday. “The two countries’ leaders have the wisdom to come to a point where they recognise that this is a hugely symbiotic relationship,” he added.Tsai, who owns the Brooklyn Nets basketball team, spoke on the sidelines of an NBA pre-season game.On the subject of the race for dominance in artificial intelligence, Tsai said that “having large adoption…

Analysts said a mutual de-escalation is expected in the short term between the US and China, a development that would provide some relief for global markets after last week’s barrage of economic sanctions, export controls and vows of triple-digit tariffs threatened to send the world’s two largest economies into another devastating escalatory cycle.On Sunday, US President Donald Trump adopted a softer tone compared to previous comments on the tensions with Beijing, telling reporters, “I think we’re going to be fine with China,” and he had “a great relationship” with his Chinese counterpart, Xi Jinping.Trump’s more conciliatory remarks came two days…

Apple CEO Tim Cook on Monday said the iPhone Air would make its official debut in China next week, with pre-orders to start on Friday, according to his post on Weibo.Cook’s announcement was made on the same day that China Unicom said it received government approval to conduct commercial trials for eSIM functions on smartphones.Cook kicked off his second visit to China this year, meeting the men behind Pop Mart’s Labubu toys.He met Hong Kong artist Kasing Lung, creator of the popular Labubu toys, and Pop Mart CEO Wang Ning at a Labubu exhibition at The Bund in Shanghai, according…

The euro fell in European trading on Monday against a basket of major global currencies, resuming its decline after Friday’s brief rebound against the US dollar. The single currency is now heading toward a two-month low, weighed down by fresh political developments in France, the euro area’s second-largest economy.   The French presidency announced the formation of a new government led by Sébastien Lecornu, with President Emmanuel Macron reappointing one of his closest allies, Roland Lescure, as finance minister.   With inflationary pressures once again building across the eurozone, expectations for further interest rate cuts by the European Central Bank…

KYIV, Ukraine (AP) — Ukrainian President Volodymyr Zelenskyy said Monday he will travel to the United States this week for talks on the potential U.S. provision of long-range weapons, a day after U.S. President Donald Trump warned Russia he may send Kyiv long-range Tomahawk missilesA meeting between Zelenskyy and Trump could take place as early as Friday, the Ukrainian president said, adding that he also would meet with defense and energy companies and members of Congress.“The main topics will be air defense and our long-range capabilities, to maintain pressure on Russia,” Zelenskyy said.He spoke at a meeting with EU High…