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Canada stands as the largest foreign supplier of steel and aluminum to the U.S.Canada is set to impose retaliatory tariffs on U.S. imported goods valued at CAD29.8 billion ($20.7 billion) starting March 13. This decision comes in response to U.S. President Donald Trump’s steel and aluminum tariffs, as stated by Canada’s Finance Minister Dominic LeBlanc.Trump’s heightened tariffs on steel and aluminum imports came into force on Wednesday, coinciding with the expiration of prior exemptions, duty-free quotas, and product exclusions. This move is part of his strategy to shift global trade standards in favor of the U.S.Canada’s role in steel and…

Pakistan and Danish officials this week reviewed the progress of Denmark’s $2 billion investment in the South Asian country’s maritime sector. As per a statement, the development occurred during a high-level meeting between Federal Minister for Maritime Affairs, Muhammad Junaid Anwar Chaudhry and the Ambassador of the Kingdom of Denmark to Pakistan, Jacob Linulf. During the meeting, both sides discussed the implementation of the $2 billion investment plan under the Memorandum of Understanding (MoU) signed last year between Pakistan and Denmark, read the statement. Ministry assures Maersk of ‘full support’ as Pakistan seeks $2bn investment from Danish company The investment…

CBUAE reported M1 money supply rose 2.3 percent to $257.7 billion by December 2024 The Central Bank of the UAE (CBUAE) has revealed that gross banks’ assets, which include bankers’ acceptances, increased by 2.4 percent, rising from AED4,451.4 billion at the end of November 2024 to AED4,560.0 billion ($1.24 billion) by the end of December 2024. Meanwhile, gross credit experienced a modest increase of 0.8 percent, moving from AED2,163.4 billion at the end of November 2024 to AED2,181.1 billion at the end of December 2024. This rise in gross credit was primarily fueled by an 8.3 percent increase in foreign…

Aldar Investment Properties (AIP) has successfully raised $500 million through a 10-year green sukuk, it announced on Thursday.AIP is a subsidiary of Aldar Properties PJSC and owner-manager of an AED28 billion ($7.6 billion) portfolio of income-generating properties.Strong responseThe issuance was oversubscribed 7.2 times, attracting $3.6 billion in orders, with regional and international investors representing 61 percent and 39 percent of the total transaction allocation, respectively.Read: Aldar’s 2024 net profit jumps 47 percent to $1.77 billion driven by strong pace of cross-platform growthWith a 5.25 percent coupon rate, the sukuk was competitively priced at a spread of 110 basis points over…

Trump’s tariffs may fuel inflation, pushing safe-haven gold to a record high of $2,956.15Gold prices rose on Thursday as uncertainty surrounding tariffs continued, prompting increased safe-haven demand. Additionally, a cooler-than-expected U.S. inflation report bolstered expectations for rate cuts, further supporting bullion. Gold rates in the UAE rose today. The price of 24-carat gold increased by AED3, settling at AED 354.25. Likewise, 22-carat gold saw a rise of AED3, reaching AED330.25. The price of 21-carat gold went up by AED2.75 to AED316.5, while 18-carat gold also increased by AED2.25, now priced at AED 271.25.Spot gold experienced a 0.4 percent increase, reaching $2,943.03…

Joao SantosLocal Democracy Reporting ServiceAlice CunninghamBBC News, SuffolkJoao Santos/LDRSKatie Chappell feared the charity would not be able to help as many people due to the National Insurance hikeA charity is facing an £18,000 bill next month as changes to National Insurance contributions come into effect.Reach Community Projects, based in Haverhill, Suffolk, will pay an extra £12,000 on top of its current contributions.It comes after Chancellor Rachel Reeves announced in her autumn Budget she would increase the National Insurance (NI) rate for employers to boost funding for public services including the NHS.Head of fundraising at Reach, Katie Chappell, said the announcement…

Premier Li Qiang has urged officials to pull out all the stops in a race to achieve China’s major goals laid out during the past week’s “two sessions” meetings, such as maintaining an economic growth rate of around 5 per cent.“We must refine measures and speed up their implementation, race against time amid various uncertainties, and work quickly and proactively,” Li said at a meeting of the State Council on Wednesday, a day after China’s top legislative and consultative bodies concluded their annual gathering.All government agencies should “take the initiative to fulfil their responsibilities and take more positive actions to…

Customers queue outside an Apple store ahead of its opening hours during the first day of sale of the iPhone 15 smartphone in Mumbai, India, on Friday, Sept. 22, 2023. Dhiraj Singh | Bloomberg | Getty ImagesThis report is from this week’s CNBC’s “Inside India” newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. Like what you see? You can subscribe here.The big storyThe general consensus was that U.S. President Donald Trump and Indian Prime Minister Narendra Modi had a successful meeting in Washington last month. What went wrong…

Rupee’s Performance Against US Dollar Since 20 Jan 2025 The Pakistani rupee saw marginal decline against the US dollar, depreciating 0.03% in the inter-bank market on Thursday. At close, the currency settled at 280.05, a loss of Re0.08 against the greenback. On Wednesday, the rupee had closed at 279.97. Internationally, the US dollar rebounded slightly on Thursday thanks to a rise in US Treasury yields, though currencies traded in tight ranges as investors struggled to determine the impact of an escalating global trade war on US inflation and growth. US President Donald Trump on Wednesday threatened further tariffs on European…

Workers on the production line at the new Ferrari NV E-building factory in Maranello, Italy, on Friday, June 21, 2024. Francesca Volpi | Bloomberg | Getty ImagesThe chief executive of Ferrari on Thursday said the company was prepared for potential U.S. tariffs on European automakers.”We are ready with some countermeasures,” Ferrari CEO Benedetto Vigna told CNBC’s Robert Frank at CONVERGE LIVE in Singapore on Thursday, without providing specifics on the plan.”You wait for the official number to be published,” he said, referring to U.S. President Donald Trump’s threat of tariffs “in the neighborhood of 25%” on global carmakers.”We are watching what’s going…