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China on Thursday condemned Mexico’s plan to sharply raise import tariffs on automobiles and other goods from countries with which Mexico does not have trade agreements, calling the measures discriminatory and saying they were the result of outside pressure.Foreign Affairs Ministry spokesperson Lin Jian told reporters Beijing “firmly rejects moves that are taken under coercion to constrain China or undermine China’s legitimate rights and interests under any pretext”.“We will firmly protect our rights and interests in light of the developments of the situation,” Lin added, stressing that China “advocates a universally beneficial and inclusive economic globalisation” and opposes all forms…
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 Thursday’s key moments. 1. The S & P 500 on Thursday added to the prior session’s all-time highs. Investors were betting that the hotter-than-expected monthly increase in the August consumer price index would not deter the Federal Reserve from cutting interest rates by 25 basis points next week. The year-over-year CPI increase was in line with estimates. Jim Cramer said the consumer inflation data does make Thursday “very confusing,” especially amid fluctuating bond yields. “But we have to…
BRATISLAVA, Slovakia (AP) — Thousands gathered at the Slovak capital on Thursday to protest a meeting between populist Prime Minister Robert Fico and Russian President Vladimir Putin, in an escalation of previous protests against Fico’s pro-Russia stance. The government’s planned austerity measures also drew condemnation from protesters.The latest wave of protests was fueled by a trip by Fico to China where he again met Putin, along with other authoritarian leaders. Fico traveled to Beijing for a military parade hosted by Chinese President Xi Jinping to mark the 80th anniversary of the end of World War II.Fico was the only head…
KARACHI: Car sales in Pakistan surged by 62% year-on-year (YoY) and 27% month-on-month (MoM) in August 2025 amid improving consumer sentiment and availability of bank financing. In August 2025, car sales (including LCVs, vans, and jeeps) stood at 14,050 units, against 8,699 units in August 2024 and 11,034 units in July 2025, according to Pakistan Automotive Manufacturers Association (PAMA) data. The PAMA’s report for August 2025 also revealed a 140% YoY increase in the truck sales to 596 units from 249 units recorded in August 2024. The sales of two and three-wheelers, including motorbikes and rickshaws, climbed by 42% to…
KARACHI: Sinolink REIT Management Company has successfully raised Rs921.07 million through selling 92.02 million units of Image REIT during two-day book building (Dutch bidding) process culminated at the Pakistan Stock Exchange (PSX) on Thursday. The REIT got a “strike price” of Rs10.01/unit, inching up from the bid opening (floor) price of Rs10/unit on the first day. This was the third IPO at the PSX for the year 2025 after the IPOs of Zarea Limited and Barkat Frisian Agro, according to a PSX official. The strike price was allowed to increase by 40% to Rs14/unit during the two-day bidding from the…
The assets managed by UBS Group in the Asia-Pacific region recently surpassed US$1 trillion, out of the bank’s global total of US$6.6 trillion, it said on Thursday.As clients seek diversification across markets amid geopolitical tensions, “our global wealth management in the Asia-Pacific region recorded the highest net new asset growth to [US$11.1 billion] in the second quarter among all regions”, said Amy Lo Choi-wan, the firm’s chairman of global wealth management in Asia and CEO of UBS Hong Kong. She spoke at the bank’s annual disruptive technology CEO summit in Hong Kong.“The set of strong results demonstrate how we have…
The assets managed by UBS Group in the Asia-Pacific region recently surpassed US$1 trillion, out of the bank’s global total of US$6.6 trillion, it said on Thursday.As clients seek diversification across markets amid geopolitical tensions, “our global wealth management in the Asia-Pacific region recorded the highest net new asset growth to [US$11.1 billion] in the second quarter among all regions”, said Amy Lo Choi-wan, the firm’s chairman of global wealth management in Asia and CEO of UBS Hong Kong. She spoke at the bank’s annual disruptive technology CEO summit in Hong Kong.“The set of strong results demonstrate how we have…
Asset prices reflected an optimistic mood on Wednesday, as Bitcoin (BTC) regained the $112,000 level, trading at $112,366.98, while European stocks opened higher, with analysts increasingly emphasizing that the odds of recession or stagflation raised by the shocking US jobs data are receding. The US Bureau of Labor Statistics (BLS) published a striking update on Tuesday, showing that the economy likely added 911,000 fewer jobs than previously reported over the 12 months through March 2025. For much of last year, equity and crypto investors bet that a strong labor market would keep the economy on track despite persistent…
Catch up on some of SCMP’s biggest China stories of the day. If you would like to see more of our reporting, please consider subscribing.1. China Rocket Force bans nearly 200 suppliers, evaluators after corruption probeThe People’s Liberation Army Rocket Force has terminated nearly 200 partnerships with experts and suppliers, following an investigation into procurement corruption covering the past nine years, as scrutiny of the troubled military branch continues.2. Is China’s rare earths policy frustrating US upgrades to the F-35 stealth jet?America’s upgrade programme for its F-35 stealth fighter jet is facing further delays and China’s control of rare earths…
My top 10 things to watch Thursday, Sept. 11 1. Wall Street was heading for a higher open today, which would add to yesterday’s record-high close for the S & P 500. This morning’s inflation and jobless claims data didn’t change the near lock on a 25-basis-point Federal Reserve interest rate cut at next week’s meeting. Chances for a half-point cut increased. Bond yields were lower. 2. Following yesterday’s cooler wholesale inflation print, the August consumer price index showed hotter-than-expected month-over-month retail inflation. Weekly jobless claims came in worse than expected. Further signs of labor deterioration increased dramatically the market odds…