Fed 'closely Monitoring' Trade Impact On Economy: Powell
A day after another Fed official said an interest rate cut would be needed "soon" to preserve economic growth, Powell said the central bank "will act as appropriate to sustain the expansion." But in a speech Monday, St Louis Federal Reserve Bank President James Bullard said a rate cut "may be warranted soon" given uncertainty about trade conflicts and ...
Fed 'closely Monitoring' Impact Of Trade Disputes: Powell
A day after another Fed official said an interest rate cut would be needed "soon" to preserve economic growth, Powell said the Fed "will act as appropriate to sustain the expansion. "And with inflation remaining stubbornly below the Fed's two percent target, Powell said central bankers "take seriously" the risk that inflation shortfalls persist even in a robust economy and are ...
OGDCL, EME Centre Sign MoU For Research, Development
The MoU would strengthen relationship between both the entities in the fields of R&D, Training and Corporate Social Responsibility (CSR), an OGDCL press release said. Under the arrangement, the ICE2 would extend support to OGDCL in technical issues, guidance in locally made equipment and provision of trainings. While, OGDCL through its CSR programme would extend support in R&D and training besides ...
European Stocks Markets Climb, Dollar Falls On Rates Focus
Frankfurt's DAX 30 index was the lead performer, up nearly one percent in early afternoon trading, despite official figures that showed eurozone inflation dropped sharply in May, raising the spectre of a global economic slowdown sparked by the Washington-led trade war. Meanwhile fears of an economic slowdown have mounted in recent days with US President Donald Trump threatening Mexico ...
Businessmen to support Govt in amnesty scheme and widening of tax net: Iftikhar Malik
ISLAMABAD (APP) ? Founder Chairman Pak US Business Council and veteran trade leader Iftikhar Ali Malik Tuesday said the entire business community including Federation of Pakistan Chambers of Commerce, all its affiliated chambers, trade bodies and associations will extend full support to Prime Minister Imran Khan?s recently announced tax amnesty scheme and broadening tax base across the country to ...
Industrial development key to economic uplift of country: Adviser
ISLAMABAD (APP) ??Adviser to Prime Minister on Commerce Abdul Razak Dawood Tuesday terming project of Allama Iqbal Industrial City imperative for industrial development in the country said projects like Faisalabad Industrial Estate Development and Management Company (FIEDMC) would help the industry generating economic activities by attracting foreign and local investors besides enhancing volume to exports to meet the challenges ...
SoftBank Group to book 1.2trn yen profit on Alibaba share sale
TOKYO: Japan?s SoftBank Group Corp said on Tuesday it expects to book around 1.2 trillion yen ($11.12 billion) in pre-tax profit on the sale of shares in China?s Alibaba Group Holding Ltd. SoftBank Group shares closed down 3pc on Tuesday ahead of the Alibaba sale announcement, giving the conglomerate a market capitalisation of 10.2 trillion yen. New York-listed Alibaba ...
Businessmen to support Govt in amnesty scheme and widening of tax net says Iftikhar Malik
ISLAMABAD, Jun 04 (APP):Founder Chairman Pak US Business Council and veteran trade leader Iftikhar Ali Malik Tuesday said the entire business community including Federation of Pakistan Chambers of Commerce, all its affiliated chambers, trade bodies and associations will extend full support to Prime Minister Imran Khan?s recently announced tax amnesty scheme and broadening tax base across ...
Chinese Shenzhen Port To Sign 'Sister' Agreement With Italy's Genoa - Official
Nevertheless, the two maritime hubs have one important thing in common the willingness to cooperate in the wake of signing a memorandum of understanding with on 's ambitious Belt and Initiative (BRI) earlier this year. At the moment, has sister agreements with 25 port cities around the . However, the only Italian port on this ...
US Stocks Bounce After May Rout
The broad-based S&P 500 gained 0.7 percent to 2,764.67, while the tech-rich Nasdaq Composite Index advanced 0.8 percent to 7,390.49.
Russia orders Tinder dating app to share user data on demand
MOSCOW: Popular dating app Tinder said Tuesday it had agreed to be added to a list of entities obliged to hand over user data and messages to Russian law enforcement agencies on demand but had not divulged anyone?s personal information yet. Tinder, owned by Match Group, holds data on millions of users around the world who use its app ...
Kenya central bank to hold its rate-setting meeting on July 24
NAIROBI: Kenya’s Monetary Policy Committee will hold its next rate-setting meeting on July 24, the central bank said on its website on Tuesday. At its last meeting in May, the central bank left its benchmark lending rate unchanged at 9.0pc and said it would keep an eye on recent food and fuel price rises that could fuel inflation.
Australia central bank chief says rates could go even lower
SYDNEY: Australia?s top central banker said on Tuesday its cash rate could move further down, only hours after it eased policy to an all-time trough in an effort to reduce unemployment and stoke inflation. Commenting on the prospects for further policy easing in a speech in Sydney, Lowe said it?s not ?unreasonable to expect a lower cash rate.? ?It is ...
Russia's Rosneft Stands By Venezuela Investments
Rosneft's first-vice-president Pavel Fyodorov said in that PDVSA's debt to Rosneft had "dropped $2.3 to $1.8 " over the first quarter of , and that the payments were being made as planned.
S.Africa Economy Contracts 3.2 Percent In First Quarter: Stats SA
According to Stats SA, gross domestic product (GDP) for 's most developed economy contracted 3.2 percent in the first three months of the year compared to the previous quarter, the largest quarterly drop in about 10 years.
German Car Sales Shake Off Emissions-test Blues
A break-down of the manufacturers' showed that sales of VW's own-brand cars fell 4.6 percent in , but still made up almost one in five new registrations with 60,906 .
New Head Of Italian-Russian Chamber Of Commerce Confident Of Russian Economic Potential
We live in such times, where geopolitics has become part of the entrepreneurial strategy of any ," Trani said, speaking during the IRCC general in . Earlier in the day, the announced that Trani, the founder and president of General Invest , would the IRCC.
Bank of England picks De La Rue, Australia’s CCL for plastic banknotes
LONDON: The Bank of England said on Tuesday it had awarded an eight-year contract to produce the polymer for a new plastic 50-pound banknote and future five and 10-pound notes to printers De La Rue of Britain and Australia?s CCL Secure.
Total sees start-up of huge UK Culzean field within days, under budget
SCOTLAND: French energy group Total will start up the Culzean field in the British North Sea within days, the group?s UK Exploration and Production Chief Jean-Luc Guiziou said on Tuesday, shortening the timeline for the project. Culzean, part of Total?s acquisition of Maersk?s oil and gas portfolio, will eventually produce 100,000 barrels of oil equivalent per day (boed) and ...
Facebook says EU court opinion undermines freedom of speech
BRUSSELS: Facebook on Tuesday said an EU court opinion calling for it to seek out content deemed illegal by a local court on its platform undermined free speech across borders. An advisor to the EU?s top court said on Tuesday that Facebook could be ordered to seek out all content on its platform identical to that found to be illegal by a court injunction.
