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Car sales in Pakistan fell 29% month-on-month (MoM) in February 2025 to clock in at 12,084 units, as compared to the previous month. However, on a year-on-year (YoY) basis, February sales recorded a 24% rise, as per data from the Pakistan Automotive Manufacturers Association (PAMA). In January 2025, car sales in the country significantly increased by 73% MoM to 17,010 units primarily due to the low base effect. “[In February] MoM decline was largely expected due to seasonality, as many buyers delayed December purchases to register their vehicles in the new year, boosting January sales,” Myesha Sohail, an auto sector…
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…
The removal of Wells Fargo’s $1.95 trillion asset cap holds a hidden benefit – billions upon billions of dollars in savings. Wells Fargo has been paying no small fortune to chip away at all of the regulatory fallout from past misdeeds at the bank, including the 2018 Federal Reserve-imposed asset cap and a long list of consent orders with other agencies. Charlie Scharf was brought in as CEO in 2019 to clean things up after the 2016 fake accounts scandal and others. A few weeks ago, Wells Fargo closed its 10th consent order , leaving four remaining. Proving that the…
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Tuesday’s key moments. 1. The S & P 500 is lower again Tuesday, continuing Monday’s sell-off amid increasing recession fears. President Donald Trump announced he is planning to raise tariffs on Canadian steel and aluminum to 50%, up from 25%. He’s also threatened to significantly raise tariffs on imported cars, contending that could shut down auto manufacturing in Canada. “The market wants to see some type of resolution,” said Jeff Marks, director of portfolio analysis. The health-care sector…
The 15-piece collection includes five pairs of earrings, four necklaces, three rings, a bracelet and a jewelry watchChopard recently unveiled its latest Insofu Collection, a 15-piece high jewelry collection created from one 6,225-carat rough emerald unearthed in Zambia a few years ago. Following the release of the Garden of Kalahari Collection – born from a 342-carat rough diamond in 2017 – the story of the Insofu Collection began in 2022 in Paris, when Caroline Scheufele, Chopard’s visionary co-president and artistic director, unveiled the massive emerald.Awestruck, the miners named it Insofu, meaning “elephant” in the local Bemba language, a nod to…
Last week, China’s leaders made promises to support the China-Europe Railway Express – an overland freight link that has become a symbol of Beijing’s ambitious drive to recreate the ancient Silk Road.But the reality is that traffic along the intercontinental rail link has been declining for months, as a wave of Russian goods seizures causes logistics companies to lose confidence in the project, industry insiders said.“We have not dared to ship [goods via the railway] since November,” said Andrew Jiang, general manager of freight forwarding company Air Sea Transport in Shanghai.In October, Moscow banned a series of goods from being…
Attendees and recruiters at a City Career Fair hiring event in Sacramento, California, US, on Thursday, Feb. 27, 2025. David Paul Morris | Bloomberg | Getty ImagesJob openings increased in January, providing at least a momentary sign of stability as questions linger over labor market stability, the Bureau of Labor Statistics reported Tuesday.The Job Openings and Labor Turnover Survey showed that postings rose to 7.74 million on the month, up 232,000 from December and slightly ahead of the Dow Jones estimate for 7.6 million. The tally kept the ratio of openings to available workers around 1.1 to 1.Much of the gain…
More Americans fear missed paymentsHouseholds also grew more worried about being able to pay their bills, the New York Fed’s survey found. Respondents’ perceived likelihood of missing a minimum debt payment over the next three months rose to 14.6%, the highest level since April 2020, near the start of the Covid-19 pandemic.”The past few months have shown a resurgence in price increases in many food and energy products,” said Greg McBride, chief financial analyst at Bankrate.com. “Coupled with shelter costs that continue to increase faster than many workers’ wages, the pressure on household budgets is unrelenting.”Consumers are understandably worried about an economic…
The US dollar declined in European trade on Monday against a basket of major rivals, on track for the sixth loss in a row, about to plumb four-month lows amid concerns about US growth due to Trump’s trade policies. The US economy added less jobs than expected in February, bolstering the odds of a Fed rate cut during the first half of the year, with traders now waiting for US inflation data this week to gather more clues. The Index The dollar index fell 0.35% today to 103.56, with a session-high at 104.03. On Friday, the…
Emirates NBD is one of the UAE’s most visible and popular banks. It started operations in 1963 with the establishment of the National Bank of Dubai (NBD), the first national bank of the UAE. Today, it has grown to serve over nine million active customers across 13 countries, employs more than 30,000 people, and is one of the country’s most diversified employers, with staff from over 90 nationalities.Overview of Emirates NBDEmirates NBD Group is a leading financial services brand in the MENAT region. It has operations in the UAE, Egypt, India, Türkiye, the Kingdom of Saudi Arabia, Singapore, the United…