Fed leaves rates unchanged, flags ‘lack of further progress’ on inflation Likely that gaining greater confidence will take longer than previously expected, says Fed Chair Jerome Powell Published 01 May, 2024 11:53pm
Business & Finance Bank of Canada: can’t cut rates until it sees more inflation progress OTTAWA: The Bank of Canada (BoC) kept its key interest rate unchanged at a near 23-year high of 5% on Wednesday and... Published 10 Apr, 2024 07:58pm
World 'Almost all' Fed officials agreed to skip June hike: minutes WASHINGTON: A united U.S. Federal Reserve agreed to hold interest rates steady at the June meeting as a way to buy... Published 06 Jul, 2023 12:01am
Markets Fed's Powell says rate hikes will come at a 'careful pace' from here WASHINGTON: U.S. Federal Reserve Chair Jerome Powell said on Thursday the central bank would move interest rates at ... Published 22 Jun, 2023 10:52pm
Markets Oil jumps 3% on US debt ceiling progress, OPEC+ in focus BENGALURU: Oil prices rose more than $2 a barrel on Thursday on hopes for a pause in U.S. interest rate hikes and... Published 01 Jun, 2023 11:26pm
World Fed's Powell: don't assume Fed can protect U.S. economy from debt limit default WASHINGTON: The U.S. Federal Reserve is unlikely to be able to shield the U.S. economy from the fallout of a failure... Published 04 May, 2023 12:59am
World U.S. Treasury, Federal Reserve in touch with Swiss authorities after UBS deal to buy Credit Suisse WASHINGTON: The U.S. Federal Reserve and the Treasury Department said on Sunday they welcomed the announcements by... Published 20 Mar, 2023 12:57am
World What caused Silicon Valley Bank’s failure? NEW YORK: SVB Financial Group Inc’s shutdown and takeover by banking regulators on Friday can be traced to the U.S.... Updated 11 Mar, 2023 06:51pm
Business & Finance Banking regulators close SVB, move quickly to avert crisis California banking regulators on Friday closed SVB Financial Group, the largest bank failure since the financial... Published 10 Mar, 2023 11:04pm
Markets Japan must take steps against ‘excessive, one-sided’ yen moves, official says TOKYO: Japan’s government must take steps as needed against excessive declines in the yen, deputy chief cabinet... Published 11 Sep, 2022 02:38pm
Markets Gold in tight range as dollar, T-bond yields pick up steam Gold prices edged up on Wednesday, pressured by a stronger dollar and Treasury yields as hawkish comments from U.S.... Published 03 Aug, 2022 11:35pm
Business & Finance Saudi central bank increases key rates by 75 bps DUBAI: The Saudi Central Bank said on Wednesday it increased its key interest rates by 75 basis points, moving in... Published 28 Jul, 2022 12:51am
Markets Dollar slightly lower after Fed hikes by 75 basis points NEW YORK: The dollar was slightly lower on Wednesday against a basket of major currencies after the U.S. Federal... Published 28 Jul, 2022 12:44am
Business & Finance Stronger dollar pushes gold to fifth weekly loss LONDON: Gold slipped on Friday and was headed for a fifth consecutive weekly loss, knocked down by the dollar’s... Published 16 Jul, 2022 04:20am
Business & Finance Qatar central bank raises deposit rate by 75 bps to 2.25% The Central Bank of Qatar said on Wednesday it raised its main deposit rate by 75 basis points (bps) to 2.25%, ... Published 16 Jun, 2022 12:56am
Business & Finance UAE central bank increases base rate by 75 bps The Central Bank of the United Arab Emirates said on Wednesday it increased its base rate by three quarters of a... Published 16 Jun, 2022 12:51am
Business & Finance Fed’s Waller backs 50 bps rate hikes until “substantial” reduction in inflation FRANKFURT: The U.S. Federal Reserve should be prepared to raise interest rates by a half percentage point at every... Published 30 May, 2022 10:45pm
Markets Gold prices slip as Fed affirms aggressive policy stance Gold prices slipped on Thursday as the U.S. Federal Reserve’s aggressive monetary policy tightening plan dimmed the... Published 27 May, 2022 12:49am
Markets Dollar slides to one-month low as Lagarde comments boost euro NEW YORK: The U.S. dollar index hit a nearly one-month low on Tuesday after European Central Bank President... Published 25 May, 2022 12:06am
World Economic outlook has ‘darkened’, business and government leaders warn in Davos DAVOS: Multiple threats to the global economy topped the worries of the world’s well-heeled at the annual Davos... Published 23 May, 2022 09:27pm
Markets S&P 500 on pace to confirm bear market, falls 20% from record close The benchmark S&P 500 index is trading down 20% from its Jan. 3 record close in volatile trading on Friday, as... Published 20 May, 2022 11:23pm
Business & Finance IMF urges Asia to be mindful of spillover risks from tightening TOKYO: Asian economies must be mindful of spillover risks as a decade of unconventional easing policies by major... Published 20 May, 2022 10:10am
Business & Finance Fed wants to see US growth ‘moving down’: Fed’s Powell WASHINGTON: The US central bank wants to see economic growth slowing and “clear” evidence of inflation decelerating... Published 18 May, 2022 12:59am
Business & Finance Sterling drops back towards 21-month lows before BoE decision LONDON: Britain’s pound weakened against a rebounding dollar despite expectations that the Bank of England will... Published 06 May, 2022 05:03am
Markets European shares slammed by lacklustre earnings, Fed jitters European stocks dropped on Wednesday, weighed by disappointing earnings and investor jitters ahead of a policy... Published 04 May, 2022 10:40pm
Markets South Africa’s rand weakens as markets await Fed meet outcome JOHANNESBURG: The South African rand weakened against the dollar on Wednesday, as investors waited for cues from the... Published 04 May, 2022 10:37pm
Markets Copper steadies near 4-1/2 month lows but demand worries linger LONDON: Copper prices steadied on Wednesday near 4-1/2 month lows as traders weighed the risks of rising interest... Published 04 May, 2022 10:11pm
Markets Sterling little changed near 21-month low ahead of BoE, Fed LONDON: The British pound was little changed on Wednesday, near its lowest level in 21 months, ahead of central bank... Published 04 May, 2022 08:20pm
Markets Toronto index rises on energy boost; Fed decision in focus Canada’s main stock index rose on Wednesday, as higher crude prices bolstered energy shares, while investors awaited... Published 04 May, 2022 07:44pm
Markets Gold prices subdued as investors look to Fed rate decision Gold prices inched down on Wednesday, a day after hitting an over two-month low, as investors awaited a policy... Published 04 May, 2022 05:55pm
PIA privatisation: Blue World City refuses to match PC’s ‘minimum expectation’ of Rs85.03bn, sticks to Rs10bn offer
PIA privatisation: Blue World City refuses to match PC’s ‘minimum expectation’ of Rs85.03bn, sticks to Rs10bn offer