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The National Electric Power Regulatory Authority (Nepra) on Thursday notified a negative fuel cost adjustment (FCA) of Rs3 per unit for consumers of K-Electric in March’s bills on account of a variation in fuel charges for December. According to a notification issued by Nepra today, the authority “decided to allow negative FCA of Rs3/kWh to KE for the month of December 2024, to be passed on to the consumers in the billing month of March 2025”. Nepra said the negative FCA would apply to “all the consumer categories except lifeline consumers, domestic protected consumers, Electric Vehicle Charging Stations (EVCS) and…
The Japanese yen fell in Asian trade on Thursday away from five-month highs against the dollar on profit-taking, as the odds of Japanese interest rate hike in March declined following cautious remarks by BOJ officials. The yen is also pressured by higher US 10-year treasury yields ahead of important US labor data this week, which could provide fresh pricing for the odds of a Fed rate cut in the next quarter. The Price The USD/JPY pair rose 0.3% today to 149.33, with a session-low at 148.72. The yen rose 0.6% against the dollar on Wednesday, approaching…
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. U.S. stocks are lower Thursday — returning Wednesday’s gains and then some as investor confidence remains shaken over President Donald Trump’s tariff measures. Commerce Secretary Howard Lutnick told CNBC on Thursday morning that more exemptions are likely beyond automakers. A short time later , Trump said he paused Mexico tariffs until April 2 on goods and services covered by the United States-Mexico-Canada Agreement. Markets are also concerned about the economy, including layoffs and consumer…
Privatisation Minister Abdul Aleem Khan has said that the government has decided to make changes according to preferences of the interested parties for the Pakistan International Airlines (PIA) sale and the process would be completed within the next three months, according to a press release from the Privatisation ministry on Thursday. In October last year, the government’s plan for privatisation of the national carrier fell flat after the only bidder, Blue World City consortium refused to match the minimum expectation of the Privatisation Commission (PC) of Rs85.03 billion and stuck to an offer of Rs10 billion for a 60% stake…
The euro rose in European trade against a basket of major rivals, expanding gains for the fourth straight session against the dollar and hitting a four-month high, and surpassing the $1.08 barrier for the first time since November. The just-announced massive German spending plan accelerated inflation forecasts once more, which might prompt the European Central Bank to tighten its policies once more to control such risks. Now global markets await the policy decisions following the ECB’s policy meeting later today, expected to announce the fifth interest rate cut in a row. The Price The EUR/USD rose…
The US dollar fell in European trade on Thursday against a basket of major rivals, expanding losses for the fourth straight session and plumbing a four-month low amid a heavy selloff. Positive sentiment is dominating the market after German parties announced massive stimulus plans, while Donald Trump decided to exempt cars from the tariffs on Mexico and Canada. Now markets await important US labor data, which could provide crucial pricing to the odds of a Fed rate cut in March. The Index The dollar index fell 0.3% today to 104.02, the lowest since November 6, with…
ECB cut its deposit rate to 2.5 percent, citing slowing growth and declining inflation The European Central Bank (ECB) made the anticipated decision to lower interest rates on Thursday, while also leaving the possibility open for further reductions amidst a potential trade conflict with the U.S. and plans for increased military expenditure, which are contributing to Europe’s most significant economic policy shifts in decades.Easing measures continue amidst economic challengesMarking the sixth easing since June, the ECB reduced its deposit rate to 2.5 percent, acknowledging the ongoing issues of declining inflation and sluggish growth. The bank indicated that interest rates were…
Shoppers purchasing groceries in Thiruvananthapuram (Trivandrum), Kerala, India, on April 8, 2024.Creative Touch Imaging | Nurphoto | 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 storyIt has been over a month since India unveiled its Union Budget, which offered a massive tax relief aimed at boosting urban consumption. The move, however, has done little to lift consumer stocks.The Nifty FMCG (fast-moving consumer goods) index — which captures 15…
Privatisation and Investment Minister Abdul Aleem Khan on Thursday said that the government would complete all the steps to privatise Pakistan International Airlines (PIA) during the next three months. As part of reforms urged by the International Monetary Fund (IMF), the Privatisation Commission said in April 2024 that it was putting on the block a stake ranging from 51 per cent to 100pc of the national carrier. The government’s failed first attempt to privatise PIA cost the national exchequer $4.3 million, the National Assembly Standing Committee on Privatisation was informed on February 26. The lack of interest shown by the…
The bank’s monetary policy committee decreased its headline lending rate by 250 basis points on March 6 Türkiye’s central bank has reduced interest rates for the third time since December, pointing to a decrease in inflationary pressures and a softening of domestic demand as reasons for its choice.The bank’s monetary policy committee decreased its headline lending rate by 250 basis points on March 6, bringing its interest rate down to 42.5 percent from the previous rate of 45 percent, which was set on January 23. A reduction in the bank’s key lending rate was largely anticipated following better-than-expected inflation figures…