Financial markets

European equities mostly rise

New York - Muslimchronicle

Investing.com - Here are the top five things you need to know in financial markets on Friday, December 8: 1. Dollar Rises With U.S. Employment Report on Tap The U.S. Labor Department will release its November nonfarm payrolls report at 8:30 a.m. ET (13:30 GMT) on Friday, and it will be watched more for what it says about wages than hiring. The consensus forecastRead more

Foreign exchange rates in Pakistan

Karachi - APP

The Exchange Rates Committee of Financial Markets Association of Pakistan issued the following exchange rates bulletin, here on Tuesday. LIBOR FOR CALCULATING INTEREST ON SPECIAL US DOLLAR BONDS VIDE SBP F.E. CIRCULAR NO.42 & 21.07.98 & 04.08.98 RESPECTIVELY. LIBOR VALUE 6 MONTHS US DOLLAR 1.4282 06.06.17 CONVERSION RATES FOR 6TH JUNE 2017 FOR FOREIGN CURRENCY FOR FORWARD COVER FOR DEPOSITSRead more

IMF foresees global economy accelerating to 3.5% in 2017

Washington - Arab Today

A resilient China, rising commodity prices and sturdy financial markets are offering a sunnier outlook for the global economy and helping dispel the gloom that has lingered since the Great Recession ended. That is the picture sketched Tuesday by the International Monetary Fund (IMF), which predicts that the world economy will grow 3.5 percent this year, up from 3.1 percentRead more

Beijing urged to break ‘feedback loop’ behind yuan’s falls

Shanghai - Arab Today

Beijing needs to stem capital outflows and manage expectations when market jitters risk putting falls in China’s yuan into a potentially destructive feedback loop, a senior Chinese central bank researcher said. “At the moment, the fall in the yuan’s exchange rate is shaping market expectations. Depreciation triggers capital flight, and capital flight exerts even bigger pressure on the yuan,” saidRead more

Fed's Yellen signals that rate hike likely soon

Washington - Arab Today

Federal Reserve chief Janet Yellen on Thursday gave financial markets what they were looking for, and expecting -- a clear signal a US rate hike is likely coming in December to get ahead of inflation. Yellen pledged to serve out her four-year term, despite accusations from President-elect Donald Trump that she has kept interest rates low in order to helpRead more

New Zealand Central Bank Cuts Interest Rate to All-Time Low

Wellington - QNA

The New Zealand Reserve Bank on Thursday cut the interest rate by a quarter of a per cent to an all-time low of 1.75%. Reserve Bank governor Graeme Wheeler said the exchange rate remained higher than was sustainable for balanced economic growth, the (dpa) reported. "Significant surplus capacity exists across the global economy (and) global inflation remains weak," heRead more

Dollar tumbles against yen, euro on strong Trump showing

Tokyo - Arab Today

The dollar tumbled against the yen and euro while the Mexican peso fell off a cliff as polling results in the knife-edge US presidential race pointed to a strong showing by property mogul Donald Trump. The greenback plunged 3.8 percent to 101.50 yen while it lost almost two percent against the euro, which bought $1.1224 in Tokyo trading. The peso,Read more

US election ‘unlikely to be major risk for markets’

Tokyo - Arab Today

The US presidential election is unlikely to be a major risk for financial markets as Congress is likely to put a brake on many policies, whoever wins, the fixed income chief investment officer of JPMorgan Asset Management said. Bob Michele said the world’s fifth largest asset manager increased exposure to inflation-linked bonds (TIPS) and emerging market debt in the lastRead more

CMA participates in IOSCO’s board meeting in Hong Kong

Hong Kong - Arab Today

The CMA (Capital Market Authority) participated in the International Organization of Securities Commissions (IOSCO) Board’s meeting held in Hong Kong on Oct. 20-21. The CMA’s delegation was headed by Mohammed bin Abdullah Al-Jadaan, chairman of the board of the CMA. During the meeting, several issues related to the financial markets regulation and common challenges were discussed by the member states.Read more

US, UK growth data to give steer on monetary policy

London - Arab Today

Third-quarter growth figures from the US and Britain will be scrutinized by financial markets in the week, and a business survey will provide the first evidence on how the euro zone has fared going into the fourth quarter. Disappointing growth in the world’s largest economy might make it less likely the US Federal Reserve will raise interest rates in December.Read more