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US stock indices rose on Wednesday after a volatile session as investors assess the Federal Reserve’s policy statements and upcoming US-China trade talks. In a step that wasn’t surprising, the Fed decided to maintain interest rates unchanged at below 4.5%, due to ongoing economic uncertainty. The statements asserted the FOMC continues to monitor risks closely, and believes that unemployment and higher inflation risks are on the upside. The statement hinted that tariffs threaten higher prices and could slow growth, which opens the door to the scenario of inflationary recession. Most Fed policymakers believe the central bank…
The HKMA maintained the base rate at 4.75 per cent on Thursday after the Fed left its target in a range of 4.25 to 4.5 per cent, following the third Federal Open Market Committee (FOMC) meeting of the year.At a press conference after the announcement, Fed chairman Jerome Powell said there was no need to be in a hurry to change US monetary policy and “the decision was clear” to wait and watch data for any inflationary impact from tariffs.The Fed, which runs its monetary policy independently, has held its interest rate in place for three straight meetings despite pressure…
The HKMA maintained the base rate at 4.75 per cent on Thursday after the Fed left its target in a range of 4.25 to 4.5 per cent, following the third Federal Open Market Committee (FOMC) meeting of the year.At a press conference after the announcement, Fed chairman Jerome Powell said there was no need to be in a hurry to change US monetary policy and “the decision was clear” to wait and watch data for any inflationary impact from tariffs.The Fed, which runs its monetary policy independently, has held its interest rate in place for three straight meetings despite pressure…
Stay informed with free updatesSimply sign up to the Technology sector myFT Digest — delivered directly to your inbox.British chip designer Arm warned that uncertainty around US tariff policies meant it was unable to give guidance for annual revenue, while customers such as Nvidia and Apple face shocks to global supply chains.Reporting its fourth-quarter results on Wednesday, SoftBank-owned Arm issued a conservative sales outlook, forecasting revenue between $1bn and $1.1bn in the current quarter, at the lowest end of Wall Street predictions due to the timing of closing new licensing deals.Its shares dropped as much as 9 per cent to…
The escalation of the conflict between India and Pakistan has exposed the limits of China’s role as a Global South leader and peace broker, and it leaves Beijing with difficult choices to make, analysts say.India launched missiles and deadly attacks on nine sites in Pakistan and Pakistan-administered Kashmir on Wednesday morning in retaliation for what it believes was an Islamabad-backed militant attack on April 22.Pakistan said it shot down five Indian Air Force jets and a drone in response.China expressed “regret” over India’s attacks on Pakistan and called for restraint, urging the two neighbours to “avoid taking actions that would…
A Republican bill that could severely restrict partnerships between American and Chinese universities passed the full US House of Representatives with bipartisan support on Wednesday, while policymakers also signalled interest in limits on other possible Chinese threats to US national security.The bill, which would prevent US universities from receiving Department of Homeland Security funding if they “have a relationship” with certain Chinese universities, including those tied to China’s top science institute, advanced 266-153, with only Democrats voting against it.It would need to pass the full Senate before it could be sent to US President Donald Trump for signing into law.“It’s…
Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldCalifornia and a coalition of 16 states filed a lawsuit against the Trump administration on Wednesday, saying it had unlawfully blocked $5bn in congressional funds allocated to build electric vehicle charging infrastructure.The states allege that an executive order by President Donald Trump directing federal agencies to stop releasing money appropriated for EV infrastructure under former president Joe Biden’s Infrastructure Investment and Jobs Act is unlawful. It is the latest in a series of legal challenges by Democratic-led states against orders…
ISLAMABAD: Minister for National Food Security and Research on Wednesday said that the decision to export surplus urea fertilizer will be made only after a detailed assessment of domestic requirements for the upcoming Rabi and Kharif crop seasons in 2025-26. Speaking during a meeting with ENGRO CEO Ali Rathore, the minister said the ministry will first gather comprehensive data from all provinces regarding their urea fertiliser needs for both crop seasons. “Only after confirming that the available stock exceeds domestic demand the government will consider allowing exports,” the minister stated. During the meeting, the ENGRO CEO informed the minister that…
ISLAMABAD: Minister for National Food Security and Research on Wednesday said that the decision to export surplus urea fertilizer will be made only after a detailed assessment of domestic requirements for the upcoming Rabi and Kharif crop seasons in 2025-26. Speaking during a meeting with ENGRO CEO Ali Rathore, the minister said the ministry will first gather comprehensive data from all provinces regarding their urea fertiliser needs for both crop seasons. “Only after confirming that the available stock exceeds domestic demand the government will consider allowing exports,” the minister stated. During the meeting, the ENGRO CEO informed the minister that…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The US commerce department has scrapped a rule put in place by the Biden administration that limited exports of artificial intelligence chips, arguing it was full of red tape that made it “unenforceable”, a US official said. The move by the Trump administration comes as it takes a more lenient approach to the regulation of AI and other advanced technologies domestically and contends with the rise of Chinese companies in the sector. Instead of allowing the Biden-era controls to take effect on…