Global News

[ad_1] An undated editorial photo of Chinese yuan cash bills and the flag of the People's Republic of China. Javier Ghersi | Moment | Getty Images China's consumer prices were flat in September, while factory gate prices saw annual declines slow for a third month — pointing to the uneven post-Covid recovery in the world's second-largest economy that may require further policy support. Consumer price index for September was flat on an annual basis, the National Bureau of Statistics reported Friday , below than the median estimate for a 0.2% increase in a Reuters poll. CPI inched up 0.1% in August for the first year-on-year increase in three months. Core inflation — excluding energy and food prices — however, climbed 0.8% in September from a year earlier, the bureau said in a separate statement . This rate of increase was similar to the one recorded in August. China's producer price index fell 2.5% from a year earlier , weaker than expectations for a 2.4% decline, af

[ad_1] The prices of petroleum products may increase by over Rs32/litre from February 16 (tomorrow) owing to the US dollar exchange rate. Petroleum, oil and lubricants prices closed at Rs236.40 per dollar which currently stands at 271.82 for the next fortnight. However, the free-on-board Platt prices saw a decline as compared to last fortnight’s pricing. As per media reports, the Mogas price would likely go up by 12.8% per litre or by Rs32.07 to stand at Rs281.87 from Rs249.8 per litre. Similarly, the price of diesel could rise by 12.5% or by Rs32.84 to stand at Rs295.64 from Rs262.8 per litre previously. Kerosene oil price was forecast to increase 14.8% or by Rs28.05 to stand at Rs217.88 per litre, while light diesel oil (LDO) could go up 5.3% or by Rs9.90 to stand at Rs196.90 from Rs187 per litre set in the last review. The above prices have been assumed based on the current government taxes and estimated Pakistan State Oil (PSO) incidentals. The government might adjust

[ad_1] Gold prices continued upward trajectory in Pakistan and registered a major increase as the rupee depreciated. According to data issued by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) gained Rs6,200 per tola and Rs5,316 per 10 grams to settle at Rs221,000 and Rs189,472, respectively. Meanwhile, the price of the yellow metal gained $10 to settle at $1,967 in the international market today. The gold rate has been volatile in Pakistan recently amid continued political and economic uncertainty, and high inflation. According to market practice, local prices of gold usually go up on the rupee's depreciation against the US dollar and declining prices of commodities in the international market. Data shared by the association showed the price of silver remained unchanged at Rs2,650 per tola and Rs2,271.94 per 10 grams. A day earlier, the prices of the yellow metal increased by Rs1,600 per tola and Rs1,371 per 10 grams, respec

[ad_1] Almost all Federal Reserve officials at their June meeting indicated further policy tightening is likely, if at a slower pace than the rapid-fire rate increases that had characterized monetary policy since early 2022, according to minutes released Wednesday. Policymakers decided against a rate increase amid concerns over economic growth, even though most members think further hikes are on the way. Citing the lagged impact of policy and other concerns, they saw room to skip the June meeting after enacting 10 straight rate increases. Officials felt that "leaving the target range unchanged at this meeting would allow them more time to assess the economy's progress toward the Committee's goals of maximum employment and price stability." Federal Open Market Committee members voiced hesitance over a multitude of factors. They said that a brief pause would give the committee time to assess the impacts of the hikes, which have totaled 5 percentage points, the mos