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EBM expands global reach at Gulfood 2025 English Biscuit Manufacturers participated in Gulfood 2025 in Dubai, UAE, with an aim to strengthen its global reach, as per a press release.Gulfood brings together industry professionals to explore the latest products, analyse global market trends, and connect with suppliers. The 30th edition of Gulfood featured over 5,500 exhibitors from 129+ countries.At the event, EBM unveiled new product innovations tailored for global markets while reinforcing its commitment to sustainability and responsible manufacturing. By investing in production technology, expanding global distribution, and refining its export strategy, EBM continues to contribute to Pakistan’s economic resilience.…
The Treasury Secretary of the Trump Administration, Scott Bessent, says the US has a strong currency policy, but that doesn’t mean that other countries have got to have a weak one. Though the outlook for getting fairer purchasing power parity for different currencies against the dollar may be improved by the US de-globalisation policy, it seems unlikely to happen in the immediate future in a meaningful way. However, Pakistan can also, apparently, draw some form of moral support for its policy to manage a relatively stable local currency from Mr Bessent’s observation regarding the ongoing tariff confusion due to lack…
American inflation ahead A recent inflation reading has returned prices to the public eye. In January, America’s “core” consumer-price index, which strips out volatile food and energy costs, jumped by 5.5pc at an annualised rate. In response, Larry Summers, a former treasury secretary, called this the “riskiest period for inflation policy since the early Biden administration”, after which inflation rose to its highest in four decades. Since Donald Trump’s election, the median expectation for price growth over the next year has surged by 1.7 percentage points, a recent consumer survey suggests. That is the joint-largest three-month rise since 1979. These…
Protestors in New York City demonstrate against the push by President Donald Trump and Elon Musk, who leads the so-called Department of Government Efficiency, to gut federal services and impose mass layoffs, Feb. 19, 2025.Michael Nigro/Pacific Press/LightRocket via Getty ImagesThe Trump administration’s purge of federal workers may ultimately amount to the biggest job cut in U.S. history, which is likely to have ramifications for the economy, especially at the local level, according to economists.The White House, with the help of Elon Musk’s so-called Department of Government Efficiency, has fired or offered buyouts to workers across the federal government, the nation’s…
Although inflation has eased considerably, in many ways, it is still alive and well.The consumer price index, which measures the cost of a wide-ranging basket of goods and services, has fallen gradually from a 9.1% pandemic-era peak in June 2022 to 3% in January. But it is still above the Federal Reserve’s 2% goal.”The progress toward 2% inflation has stalled out, and the Fed knows it,” said Greg McBride, chief financial analyst at Bankrate.com. Federal Reserve officials have also expressed concern about the impact tariffs may now have on inflation.How TIPS workTIPS are issued and backed by the U.S. government like typical Treasury bonds, however,…
U.S. Treasury yields were sharply lower on Friday as investors ran for cover in the middle of a stock market sell-off, while concern over the health of the economy grew.The 10-year Treasury yield dropped about 7 basis point to 4.427%, and the 2-year Treasury yield was lower by more than 6 basis point at 4.202%.One basis point is equal to 0.01%, and yields and prices move in opposite directions.The S&P Global Purchasing Managers’ Index for manufacturing came in at 51.6 for February. That was below a consensus estimate from Dow Jones that called for 52.8. Services, meanwhile, contracted for the month.The University of Michigan’s…
Michael Race & Harry FarleyBusiness reporter & political correspondent BBC newsBBCPressure has increased on the chancellor’s tax and spending plans after a surplus in government finances missed official forecasts.The surplus – the difference between what the government spends and the tax it takes in – was £15.4bn in January, the highest level for the month since records began more than three decades ago.But the figure was much lower than the £20.5bn predicted by the UK’s official forecaster, reigniting speculation that Rachel Reeves will either have to cut public spending or raise taxes further next month to meet her self-imposed rules…
U.S. Treasury yields were slightly lower on Thursday as investors parsed further economic data and digested President Donald Trump’s latest tariff plans.The 10-year Treasury yield slipped 3.2 basis points to 4.503%, while the 2-year Treasury pulled back less than 1 basis point to 4.272%.One basis point is equal to 0.01%, and yields move inversely to prices.On Thursday, investors digested the weekly initial jobless claims for the week of Feb. 15, which came in at 219,000. Economists polled by Dow Jones were looking for 215,000.Meanwhile, investors are mulling over Trump’s most recent tariff suggestions, which include implementing a 25% duty on automobiles, pharmaceuticals and…
US President Donald Trump speaks while signing an executive order in the Oval Office of the White House to impose 25% tariffs on all US imports of steel and aluminum, broadening his trade restrictions to some of the country’s top trading partners.Bloomberg | Bloomberg | Getty ImagesAs President Donald Trump ratchets up the rhetoric over tariffs against top international trading partners, fears of unintended consequences for the U.S. and world economy are running high.”This is a sledgehammer approach to trade negotiation,” said William George, director of research at ImportGenius.But the simplest explanation for Trump’s approach — which ranges from tariffs…
Federal Reserve officials in January agreed they would need to see inflation come down more before lowering interest rates further, and expressed concern about the impact President Donald Trump’s tariffs would have in making that happen, according to meeting minutes released Wednesday.Policymakers on the Federal Open Market Committee unanimously decided at the meeting to hold their key policy rate steady after three consecutive cuts totaling a full percentage point in 2024.In reaching the decision, members commented on the potential impacts from the new administration, including chatter about the tariffs as well as the impact from reduced regulations and taxes. The…