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MUMBAI: The Indian rupee weakened on Thursday, weighed down by outflows tied to near-term dollar payments by local corporates, which offset the positive impulse from the Federal Reserve’s rate cut and less-hawkish-than-anticipated commentary. The rupee weakened nearly 0.3% to 90.21 against the U.S. dollar, as of 10:30 a.m. IST. A sharply divided U.S. Fed cut interest rates on Wednesday but signalled borrowing costs are unlikely to drop further in the near term. Asian currencies were trading mixed on Thursday, while the dollar index recouped some losses after dropping to a near two-month low following the Fed’s rate decision. Weakness in…

With the end of the year approaching, the European Commission is rapidly ramping up its de-risking efforts through a flurry of broadsides against Chinese firms – even as the bloc’s most powerful member states appear to be moving in different directions on China.Foreign subsidy regulation probes were launched against online retailer Temu and Nuctech, a maker of airport scanning equipment, on Wednesday and Thursday respectively.E-commerce giant Temu saw its Dublin headquarters raided by investigators looking for evidence of subsidies that distort the EU’s single market. This mirrored the commission’s dramatic raid of Nuctech’s EU offices last year. On Thursday, the…

US stock indices fell on Thursday as markets digested the Federal Reserve’s statement, alongside pressure on the technology sector following disappointing earnings from Oracle.   In a move widely anticipated as a “hawkish cut,” the Federal Reserve on Wednesday lowered the federal funds rate by a quarter percentage point, bringing it into a range between 3.5% and 3.75%.   However, the move was accompanied by cautionary signals regarding the future path of monetary policy, with three dissenting votes within the Federal Open Market Committee — something not seen since September 2019.   The committee also raised its projection for economic…

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 Dow Jones Industrial Average touched a fresh record high this morning, while the S & P 500 tumbled following Oracle’s disappointing earnings report on Wednesday, which revived fears of an AI bubble. Jim Cramer is focused on the stocks that are positively impacted by the Federal Reserve’s decision yesterday to cut its benchmark interest rate by a quarter percentage point. “You just got a very good chance to buy,” Jim said. “It…

Thai Prime Minister Anutin Charnvirakul dissolved parliament on Friday, setting the stage for an early election after a major political party backing his minority government threatened to withdraw its support.Anutin said in a Facebook post late on Thursday that he would “return power to the people”. Hours later, King Maha Vajiralongkorn endorsed Anutin’s recommendation to dissolve the 500-member House of Representatives – a formality under the Thai constitution.Under Thai rules, an election must be held between 45 and 60 days of the house dissolution, meaning voters in the Southeast Asian nation will be headed to polling stations as early as…

NICOSIA, Cyprus (AP) — The rival leaders of divided Cyprus on Thursday agreed on multiple projects to boost mutual trust in hopes of getting back on track long-stalled formal talks to resolve the island’s 51-year-old ethnic cleave.Nikos Christodoulides, the island’s Greek Cypriot president, and Tufan Erhurman, the leader of the breakaway Turkish Cypriots, agreed to work out a deal that would allow Turkish Cypriot manufacturers of Halloumi cheese, or Hellim in Turkish — a rubbery, squeaky cheese that’s the island’s top export — to access European markets.They also agreed to help expedite traffic at the busiest of some nine crossing…

Pak-Qatar Family Takaful Limited (PQFTL) share price remained stick at the minimum offered price at Rs14 per share on the first day, Thursday, of the two-day Dutch bidding process at the Pakistan Stock Exchange (PSX), as it put 50 million share on sale to attract investment for business expansion. The share price can increase by a maximum 50% to Rs21 per share from the minimum (floor) price of Rs14 per share in the two-day book building process ending on Friday. The PSX book building screen shows the institutional and high-net worth individual investors placing bids in the range of Rs14…

Gold prices rose in the European market on Thursday, extending gains for a third consecutive session, supported by a weaker US dollar after the latest Federal Reserve meeting delivered a less-hawkish tone than markets had anticipated.   As expected, the Federal Reserve cut its benchmark rate by 25 basis points to a range of 3.75 percent — the lowest since September 2022 — marking a third consecutive rate cut.   Price Overview   • Gold prices today: Spot gold rose 0.45 percent to $4,247.81, from an opening level of $4,228.27, after touching an intraday low of $4,210.44.   • At…

Car sales in Pakistan gained substantial momentum during the first five months of the current fiscal year (July to November FY2025-26) on the account of rising new purchases and improved economic sentiments, following new models and varieties in the local market. The Pakistan Automotive Manufacturers Association (PAMA) on Thursday reported 43% hike in car sales (excluding jeeps and pickups) to 55,239 units in 5MFY26, against 38,597 units sold in the same period last year (SPLY). “Monthly car sales have been steadily rising, reflecting a clear recovery in the auto sector. Improving economic sentiment and friendly and supportive policies by the…

The Trump administration is possibly facing a “dilemma” as tensions between China and Japan intensify, one Chinese analyst has suggested, while another noted that any breakthrough in the diplomatic dispute still hinged on direct engagement between the two Asian neighbours.Beijing issued another travel warning targeting Japan on Thursday – less than four weeks after its previous advisory – this time citing Monday’s 7.5-magnitude earthquake off the island nation’s northeastern coast.Also on Thursday, Tokyo confirmed that its fighter jets had flown over the Sea of Japan, or East Sea, the previous day alongside US nuclear-capable bombers, following a joint patrol by…