Author: admin

The Canadian dollar fell against most major rivals on Friday following mixed jobs data.   Canada’s jobless rate held steady at 6.6% in February, beating estimates of a rise to 6.7%.    Canada’s economy added 1.1 thousand new jobs in February, below estimates of 19.7 thousand, and down from 76.0 thousand in the previous reading.    On trading, the Canadian dollar fell 0.5% as of 20:44 GMT to 0.6958.   Aussie   The Australian dollar fell 0.4% as of 20:44 GMT against the US counterpart to 0.6310.   US Dollar   The dollar index fell 0.2% as of 20:23 GMT…

The Canadian dollar fell against most major rivals on Friday following mixed jobs data.   Canada’s jobless rate held steady at 6.6% in February, beating estimates of a rise to 6.7%.    Canada’s economy added 1.1 thousand new jobs in February, below estimates of 19.7 thousand, and down from 76.0 thousand in the previous reading.    On trading, the Canadian dollar fell 0.5% as of 20:44 GMT to 0.6958.   Aussie   The Australian dollar fell 0.4% as of 20:44 GMT against the US counterpart to 0.6310.   US Dollar   The dollar index fell 0.2% as of 20:23 GMT…

KARACHI: Business leaderships and traders have urged the Governor of the State Bank to reduce interest rates to single digit to stimulate economic growth and end the stagnation currently gripping the country. Acting President of the Korangi Association of Trade and Industry (Kati) Ejaz Ahmed Sheikh has urged the State Bank of Pakistan (SBP) to announce a significant reduction in interest rates in the upcoming monetary policy meeting. He stated that with inflation now at its lowest level in nine years, keeping interest rates high is unjustifiable. “Inflation has dropped to 1.5% in February 2025, marking a significant decline. When…

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has announced ‘Consumer Protection Principles’ for the Non-Banking Microfinance Companies (NBMFCs) and in tandem with women equality in finance policy for the non-banking microfinance sector. Senior SECP officials told media here on Friday that the principle aims to ensure that consumers are well-informed, treated fairly, and provided with the necessary tools and support to make sound financial decisions, while enhancing transparency, promoting financial inclusion and strengthening the overall relationship between consumers and non-banking microfinance companies. The NBMFCs are directed to comply with the following requirements and are encouraged to integrate guiding…

ISLAMABAD: The first meeting of the committee formed by the prime minister to review the Export Facilitation Scheme (EFS) was held under the chairmanship of the Federal Minister for Planning and Special Initiatives, Ahsan Iqbal, along with Federal Minister for Commerce Jam Kamal Khan. The meeting was attended by Secretary Commerce, Chief Economist of the Planning Commission, representatives from the Federal Board of Revenue (FBR), and senior officials from relevant ministries. More than 60 representatives from the business community participated via video link in a detailed consultative session with government officials. The FBR briefed the committee on the EFS, its…

ISLAMABAD: The Sensitive Price Index-based inflation for the week ended March 6, 2025 decreased by 0.09 percent owing to a reduction in the prices of onions (5.59 per cent), tea Lipton (4.47per cent), garlic (3.89per cent), tomatoes (3.60per cent), pulse gram (3.49per cent), maash(2.82per cent), potatoes (2.60 per cent), diesel (2 per cent), masoor(1.50 per cent) and petrol (0.24 per cent). The SPI data released here on Friday by Pakistan Bureau of Statistics on year-on-year (YoY) depicted a reduction of 0.87per cent owing to a decrease in prices of onions by 64.92per cent, tomatoes 57.05 per cent, wheat flour 36.81…

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market update: This week’s volatility on Wall Street, marked by tariff confusion, continued Friday, with the S & P 500 reversing higher after slumping more than 1% earlier in the session. The Dow and Nasdaq both flipped from negative to positive in afternoon trading. Friday’s bottom came after the tone of Federal Reserve Chairman Jerome Powell’s afternoon remarks eased the market’s anxieties about the economy, which helped lift stocks. Despite what looks…

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 Friday’s key moments. 1. The selling on Wall Street continued Friday, with the tech-heavy Nasdaq sinking further into correction territory. In an overlooked glimmer of hope, the latest jobs report was not as bad as anticipated. The U.S. economy added 151,000 nonfarm payrolls versus the 160,000 expected. Hourly earnings were also “really terrific,” Jim Cramer said during the Morning Meeting. “We had a jobs number that I thought was about as perfect as you can get. There’s no…

A hiring sign is displayed in the window of a Chipotle on August 22, 2024 in Alexandria, Virginia. Anna Rose Layden | Getty ImagesThe unemployment rate among Black men saw a significant improvement in February – even as the rate ticked higher for U.S. workers in general.The overall unemployment rate edged higher last month to 4.1% from 4% in January, according to the U.S. Bureau of Labor Statistics report on Friday. Nonfarm payrolls growth also came out underwhelming, according to the data.To be sure, the unemployment data for February comes amid a push from President Donald Trump and Elon Musk’s Department…

Jerome Powell, chairman of the US Federal Reserve, speaks during the University Of Chicago Booth School Of Business Monetary Policy Forum in New York, US, on Friday, March 7, 2025. Yuki Iwamura | Bloomberg | Getty ImagesNEW YORK — Federal Reserve Chairman Jerome Powell said Friday that the central bank can wait to see how President Donald Trump’s aggressive policy actions play out before it moves again on interest rates.With markets nervous over Trump’s proposals for tariffs and other issues, Powell reiterated statements he and his colleagues have made recently counseling patience on monetary policy amid the high level of uncertainty.The…