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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 Monday’s key moments. 1. Stocks opened higher to start the trading week, but gave back those gains after the February ISM manufacturing data missed estimates. While the report showed sector growth, it came in weaker than expected with concerns about order delays due to tariffs. President Donald Trump’s tariffs on Mexico and Canada are scheduled to start Tuesday, and potential retaliatory tariffs from these countries adds to the worries. “The market doesn’t like uncertainty,” said Club portfolio director…
Federal Energy Minister Awais Leghari on Monday reaffirmed the government’s commitment to “transparent and fair negotiations” with independent power producers (IPPs), stating that IPPs can “either engage in talks or opt for arbitration and forensic audits” to resolve disputes, according to a statement from the Ministry of Energy. Negotiations with the IPPs in the country so far are expected to save the government Rs1.4 trillion, with an annual saving of Rs137 billion, benefiting power consumers. Federal cabinet approves proposal to revise agreements with 14 IPPs: PMO Earlier, M/s Sapphire Electric Company Limited (SECL) claimed that sovereign power contracts were being…
The yen rallied in Asian trade on Friday against a basket of major rivals, resuming gains against the US dollar and about to hit a four-month high, with the Japanese currency on track for the largest monthly profit since July on strong investment demand. As inflationary pressures mounted in Japan and bullish remarks from BOJ officials increased, the odds of a Bank of Japan interest rate hike in March rose as well. The Japanese currency is also boosted by a steep drop in US 10-year treasury yields amid concerns in the markets after Donald Trump’s assertions on imposing…
Federal Energy Minister Awais Leghari announced plans on Monday to “rationalise net metering,” ensuring that no additional financial burden falls on other consumers, according to a statement from the Ministry of Energy. The minister also reiterated the government’s commitment to transparent and fair negotiations with the independent power producers (IPPs). He emphasised that IPPs have an option to “avoid talks or choose arbitration and forensic audits”. Solar net metering consumers: Discovering Rs9.8bn loss, FTO orders 18pc GST levy According to the ministry statement, the minister chaired a meeting with international development partners to discuss reforms in the power sector, aiming…
Saxo Bank experienced sustained growth and reached a record of almost 1.3 million clients by the end of 2024The Saxo Bank Group announced today its financial results for 2024, achieving the best results in the group’s history. The group reported a net profit of $146 million for 2024, compared to a net profit of $38 million for 2023, corresponding to an increase of 287 percent. The adjusted net profit for 2024 ended at $156 million.“The progress underscores our steadfast commitment to creating value for all our stakeholders and strengthening our foundation for sustainable growth. With almost 1.3 million clients and…
10 things to watch Monday, March 3 — Today’s newsletter was written by Jeff Marks, director of portfolio analysis. 1. Stocks are poised for a higher to start March following a strong oversold rally in Friday’s session. Wall Street is continuing to watch the latest trade headlines, with President Donald Trump’s tariffs on Mexican and Canadian imports set to go into effect tomorrow. 2. Bitcoin and other cryptocurrencies surging after Trump announced a U.S. strategic crypto reserve . The announcement is receiving some pushback for not solely being a bitcoin fund. Trump said it also will include XRP and ether,…
Bitcoin tumbled over 7.5% on Friday and resumed the losses while piercing the important barrier of $80,000 and plumbing three-month lows, on track for the heftiest monthly loss since 2022 on risk aversion. The crypto market is still tense amid a lack of positive stimuli, while US stocks continue to tumble on Wall Street, led by the tech sector. Prices Bitcoin tumbled over 7.5% at Bitstamp today to $78,018, the lowest since November 10, with a session-high at $84,798. On Thursday, bitcoin rose 0.7%, the first profit in five days on quick short-covering. Crypto Market…
With President Donald Trump planning to escalate his trade war this week with new tariffs on Canada, Mexico and China, the outsized role that Elon Musk is playing as one of the president’s closest advisors and leader of the Department of Government Efficiency is jeopardizing Tesla and other companies in his diverse business empire.The planned 25% tariffs on Canada and Mexico — America’s two biggest trading partners — were suspended for 30 days by the White House after both countries made concessions and the U.S. stock market nosedived. But the tariffs are now back, scheduled for implementation on Tuesday, according…
Startups in Saudi Arabia raised $250.3 million across 25 deals last month, leading the region in fundraisingThe MENA region’s startup ecosystem saw a remarkable surge in activity last month, recording a significant influx of investment, with startups raising a total of $494 million across 58 deals. This impressive figure represents a nearly fivefold increase compared to the investment amount secured in the same month of the previous year.In January, debt financing constituted 90 percent of the total investment. However, February saw a significant drop in debt financing, which made up only 15 percent of the total investment that month. Excluding debt…
Ericsson has also tied up with regional players to build efficient solutions and reduce energy consumptionSwedish networking and telecom giant Ericsson will be showcasing its energy-efficient 5G solutions at MWC Barcelona, 2025, as it remains committed to its net-zero targets. Speaking to Economy Middle East, Fida Kibbi, head of Marketing, Communications, Sustainability and Corporate Responsibility at Ericsson Middle East and Africa, highlights the importance of regional initiatives and partnerships in helping the ICT industry get on track to meet its sustainability targets. She also outlines initiatives at Ericsson to encourage more women to pursue careers in the field.Edited excerpts:What are…