US stocks fell sharply in the Wall Street market. The Dow Jones Industrial Average closed down 1.1% at 33,027.49, while the broader S&P 500 Index declined 1.5%. The technology-heavy Nasdaq Composite Index fell 2.2% to 10,476.12. Edward Moya of the OANDA trading platform referred to the decline as a “Grinch selloff”. US Stocks on Wall … Read more
The American economy’s first-sector downturn changed into barely worse than at first pronounced, no matter persisted robust consumer spending, consistent with revised government facts launched Thursday. The slowdown got here after a huge gain inside the very last 3 months of 2021 because the Omicron variant spread within the United States and worldwide deliver chain … Read more
Orders for US-made, large-price tag manufactured goods persevered their upward trend final month, although at a slower pace, pushed frequently by means of demand for commercial aircraft, consistent with authorities data launched Wednesday. Durable goods orders rose 0.4 percent in April, the Commerce Department stated, barely less than what analysts had anticipated but nevertheless indicating … Read more
The US important bank opened its coverage meeting Tuesday, that’s predicted to produce a huge rate hike as policymakers go at the attack against document-high inflation. Following a quarter-factor increase in the benchmark lending rate in March, Federal Reserve Chair Jerome Powell and different critical bankers have stated a half-factor increase may be introduced whilst … Read more
China’s economy grew 4.8percent within the first zone, the National Bureau of Statistics said Monday, warning of “giant demanding situations” beforehand as a resurgence of the coronavirus threatens Beijing’s bold annual goal. The international’s 2d-biggest economy was already losing steam within the latter half of the remaining 12 months with a property droop and regulatory … Read more
WASHINGTON: US manufactured goods orders increased far more than expected in January, according to government data released Friday, driven by a big increase in aircraft sales. The Commerce Department reported durable goods sales rose 1.6 per cent last month, while December”s 0.9 per cent slump in sales was revised sharply upwards to show a 1.2 … Read more
WASHINGTON: Strong American export business caused a large drop in the US trade deficit last month, even as imports also rose, according to government data released on Tuesday. The gap between imports and exports of goods and services dropped 17.6 per cent to $67.1 billion last month, bringing the trade deficit down from a record … Read more
ISLAMABAD: Since its inception in 2015, Careem has invested $100 million in Pakistan, creating a customer base of 9 to 10 million people. Careem, the Super App of the Middle East and Pakistan, has partnered with Oxford Economics to release “The Socioeconomic Impact of Careem”, an independent report, including data from 2015/19. The report is … Read more
DUBAI: Dubai’s economy is rebounding faster-than-expected, as property sales are rising and restaurants are busy, at a time when Europe is experiencing a surge in the Covid cases and tightening restrictions again, Bloomberg reported “The recovery has been faster than we expected,” said Scott Livermore, chief economist for Oxford Economics Middle East in Dubai. “Expo has played … Read more
According to the World Travel & Tourism Council, the UK government should abandon its current travel strategy in order to aid economic recovery (WTTC). The organization claims that a lack of international cooperation, significant travel restrictions, and lower vaccination rates in some parts of the world have impeded the sector’s recovery, which is still in … Read more
