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Oil prices rise as questions linger about the Strait of Hormuz
Oil prices are rising again after a brief drop following news of a U.S.-Iran ceasefire. CBS News' Jill Schlesinger has some advice for those watching the markets.
NYC Finance Head Pitches Limits on Using Savings for Budget Gaps
New York City Comptroller Mark Levine wants stricter limits on when the city can dip into its emergency savings accounts, after Mayor Zohran Mamdani proposed drawing down $980 million in reserves to help close a $5.4 billion two-year budget gap.
War Has Caused Lasting Damage to the Dollar System
The US’s war with Iran has put a potentially irreversible strain on the global trading system, with gold reserves having eclipsed central bank holdings of valuation-adjusted dollar assets for the first time in several decades.
ALMAR Capital Launches In Casablanca, Targets Complex Investment Operations
Agadir – Morocco welcomes the launch of a new independent investment bank ALMAR Capital on April 6. The firm is opening its doors in Casablanca with a mission to support executives, shareholders, and investors in navigating complex strategic operations. “After nearly 15 years in investment banking and financial advisory, I am pleased to announce the launch of Almar Capital, an independent investment bank based in Casablanca,” Amine Alami, the bank’s founder and managing partner, announced...
Markets Can Live With $100 Oil for a While, JPM’s Michele Says
Bob Michele, global head of fixed income at JPMorgan Asset Management, sees a path to markets turning optimistic and putting the Iran war “in the distant rearview mirror” over the next month, even if oil remains at $100 per barrel. (Source: Bloomberg)
USPS halts contributions to pension plan after warning of "cash crisis"
MoneyWatch USPS suspends contributions to employee pensions after warning of "cash crisis" .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Aimee Picchi Aimee Picchi Associate Managing Editor, MoneyWatch Aimee Picchi is the associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has written for national news outlets including USA Today and Consumer Reports. Rea...
World Bank cuts GDP forecast to 3%
The World Bank on Thursday cut Pakistan's economic growth forecast to 3% for this fiscal year due to adverse implications of the Middle East war, which is significantly lower than the estimates that Islamabad has shared with the International Monetary Fund (IMF). In its first detailed report on the implications of the war, the World Bank also said that Pakistan's current account deficit (CAD) could widen to 1.2% of the size of the economy, equal to $4.9 billion. The projected defic...
SBP reserves rise $19m to $16.4b
Pakistan's foreign exchange reserves held by the State Bank of Pakistan (SBP) recorded a modest increase of $19 million on a weekly basis to reach $16.4 billion, according to the latest data released by the SBP. The country's total liquid foreign reserves stood at $21.89 billion, indicating a steady buffer against external payment pressure. Of this, $16.4 billion was held by the SBP, while net reserves with commercial banks amounted to $5.5 billion. The Pakistani rupee edged up 0....
FinMin seeks input for budget
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb chaired a virtual meeting with presidents and senior office bearers of chambers of commerce and business entities from across the country to discuss the prevailing economic situation, upcoming budget priorities, and avenues for strengthening economic recovery and growth, according to an official statement from the finance ministry on Thursday. The meeting, which lasted nearly 90 minutes, was also attended by Minister of St...
Urea smuggling risk alarms minister
Federal Minister for National Food Security Rana Tanveer Hussain chaired a high-level meeting of the Fertiliser Review Committee to review the supply-demand situation of urea and other key fertilisers, with a special focus on the ongoing Rabi season, Kharif 2026 projections and preparedness for Rabi 2026-27, according to a statement issued by the Ministry of National Food Security & Research on Thursday. The meeting was informed that the urea situation during the Rabi season remained l...
Chinese tyre firm to invest $120m
Federal Minister for Commerce Jam Kamal Khan held a meeting with Jin Yongsheng, chairman of Service Long March Tyres (Private) Limited, and his delegation to discuss investment expansion, export growth and tariff policy support for Pakistan's tyre industry, according to an official statement issued on Thursday. During the discussion, the company announced an additional investment of $120 million in Pakistan, reaffirming its confidence in the country's industrial and economic potent...
Mild pullback follows record surge at PSX
The Pakistan Stock Exchange (PSX) on Thursday witnessed a volatile yet largely range-bound session following a record-breaking day in its history as the benchmark KSE-100 index slipped by around 300 points. The decline came after the previous session's sharp 9% surge, with investors adopting a cautious stance amid mixed signals and heightened geopolitical uncertainty, including Israel's attacks on Lebanon just after the truce between the US and Iran. The market experienced signifi...
Forbes Unveils New Self-Made 250 List Featuring America’s Trailblazing Leaders Who Rose From Adversity To Build Their Own Success
Forbes today announced the launch of its Self-Made 250 List, the latest installment of its Forbes 250 initiative, which explores how innovation, ambition and resilience continue to redefine the American Dream in the 21st century.
Morocco to Add 15 New Hilton Hotels Ahead of 2030 FIFA World Cup
Casablanca – Morocco is set to more than double Hilton’s footprint as the global hotel group moves to open 15 new properties, part of a wider tourism investment push tied to the country’s fast-rising visitor numbers and preparations for the 2030 FIFA World Cup. Tourism Minister Fatim-Zahra Ammor met in Rabat on Wednesday with Hilton President and CEO Christopher J. Nassetta to review the group’s expansion plans and discuss how to speed up the development of its hotel portfolio in Morocco. SMIT...
How the Iran ceasefire could impact the U.S. economy
CBS News business analyst Jill Schlesinger breaks down when Americans could see relief at the gas pump and how the temporary Iran ceasefire could impact consumer spending and the U.S. economy.
Four in 10 UK parents struggle to afford essentials for newborns, study says
Exclusive: Survey of 2,000 people by Barnardo’s also finds almost half feel their child has missed opportunities due to costUK politics live – latest updatesFour in 10 parents across the UK are struggling to afford essential items for the care of their newborn babies, according to research.The survey of 2,000 parents with children aged under five by the charity Barnardo’s found that almost half (49%) felt their child had missed out on opportunities to learn or play because of the cost of living....
IMF Chief Says Oil Shock Tests a World With Little Fiscal Buffer
The International Monetary Fund said that the conflict in the Middle East is a major supply shock that will test the resilience of a world with limited scope for fiscal support, even as US and Iran have negotiated a two-week ceasefire.
Head of IMF says Iran war will permanently scar global economy even if peace is reached
Kristalina Georgieva says even ‘most hopeful scenario’ will lead to growth downgrade and cause permanent hit to living standardsBusiness live – latest updatesThe head of the International Monetary Fund has warned that the Iran war will permanently scar the global economy even if a durable peace deal in the Middle East can be reached.In a speech delivered as the ceasefire in the conflict threatens to unravel, Kristalina Georgieva said the “scarring effects” caused by the war to date would mean sl...
CVC Said to Seek Partners to Back €10.9 Billion Recordati Deal
CVC Capital Partners Plc is seeking co-investors to help bankroll its proposed €10.9 billion ($12.7 billion) takeover of Italian drugmaker Recordati SpA, according to people familiar with the matter.
US Consumer Spending Muted as Inflation Persists
US consumer spending barely rose in February and the so-called core personal consumption expenditures price index increased 0.4% from January and 3% from the prior year. Recurring jobless claims fell to a nearly two-year low and Inflation-adjusted gross domestic product increased at a 0.5% annualized rate in the fourth quarter. Michael McKee reports on Bloomberg Television. (Source: Bloomberg)