Business
Asian stocks rise as US markets rally on tariff pause
An employee of a foreign exchange dealing company sits under an electronic board showing the stock index of Japan’s Nikkei 225, in Tokyo Thursday, April 10, 2025. (AP)
TOKYO, April 10, (AP): World markets soared on Thursday, with Japan’s benchmark jumping more than 9%, as investors welcomed U.S. President Donald Trump’s decision to put his sharp tariff hikes on hold for 90 days, though he excluded China from the reprieve.
In early trading, Germany’s DAX initially gained more than 8%. It was up 7.5% at 21,141.53 a bit later, while the CAC 40 in Paris gained 7.2% to 7,360.23. Britain’s FTSE 100 surged 5.4% to 8,090.02.
However, U.S. futures edged lower and oil prices also declined. Chinese shares saw more moderate gains, given yet another jump in the tariffs each side is imposing on each others’ exports.
The future for the S&P 500 was down 0.4% while that for the Dow Jones Industrial Average edged 0.2% lower. Analysts had expected the global comeback given that U.S. stocks had one of their best days in history on Wednesday as investors registered their relief over Trump’s decision.
On Thursday, Japan’s benchmark Nikkei 225 jumped 9.1% to finish at 34,609.00, zooming upward as soon as trading began. Australia’s S&P/ASX 200 soared 4.5% to 7,709.60.
South Korea’s Kospi gained 6.6% to 2,445.06. Hong Kong’s Hang Seng added 2.4% to 20,750.65. The Shanghai Composite rose 1.2% to 3,223.64. Investors went “from fear to euphoria,” Stephen Innes, managing partner at SPI Asset Management, said in a commentary.
“It’s now a manageable risk, especially as global recession tail bets get unwound, and most of Asia’s exporters breathe a massive sigh of relief,” he said, referring to the tariffs on China, which Trump has kept.
On Wall Street, the S&P 500 surged 9.5%, an amount that would count as a good year for the market. It had been sinking earlier in the day on worries that Trump’s trade war could drag the global economy into a recession. But then came the words investors worldwide had been waiting and wishing for.
“I have authorized a 90 day PAUSE,” Trump said, saying more than 75 countries are negotiating on trade and not retaliating against his latest increases in tariffs. Treasury Secretary Scott Bessent later told reporters that Trump was pausing his so-called ‘reciprocal’ tariffs on most of the country’s biggest trading partners, but maintaining his 10% tariff on nearly all global imports.
China was a huge exception, though, with Trump saying tariffs are going up to 125% against its products. The trade war is not over, and an escalating battle between the world’s two largest economies can create plenty of damage.
U.S. stocks are also still below where they were just a week ago, when Trump announced worldwide tariffs on what he called “Liberation Day.” But on Wednesday, at least, the focus on Wall Street was on the positive. The Dow Jones Industrial Average shot to a gain of 2,962 points, or 7.9%.
The Nasdaq composite leaped 12.2%. The S&P 500 had its third-best day since 1940. The relief came after doubts had crept in about whether Trump cared about the financial pain the U.S. stock market was taking because of his tariffs. The S&P 500, the index that sits at the center of many 401(k) accounts, came into the day nearly 19% below its record set less than two months ago.
That surprised many professional investors who had long thought that a president who used to crow about records for the Dow under his watch would pull back on policies if they sent markets reeling. Wednesday’s rally pulled the S&P 500 index away from the edge of what’s called a “bear market.”
That’s what professionals call it when a run-of-the-mill drop of 10% for U.S. stocks, which happens every year or so, graduates into a more vicious fall of 20%. The index is now down 11.2% from its record. Wall Street also got a boost from a relatively smooth auction of U.S. Treasurys on Wednesday.
Earlier jumps in Treasury yields had rattled the market, indicating increasing levels of stress. Trump said he had been watching the bond market “getting a little queasy.” Higher yields on Treasurys put pressure on the stock market and push upward on rates for mortgages and other loans for U.S. households and businesses.
U.S. Treasury yields historically have dropped – not risen – during scary times for the market because the bonds are usually seen as some of the safest possible investments.
This week’s sharp rise had brought the yield on the 10-year Treasury back to where it was in late February. After approaching 4.50% in the morning, the 10-year yield pulled back to 4.34% following Trump’s pause and the Treasury’s auction.
That’s still up from 4.26% late Tuesday and from just 4.01% at the end of last week. In energy trading, benchmark U.S. crude fell 81 cents to $61.54 a barrel. Brent crude, the international standard, declined 93 cents to $64.55 a barrel. In currency trading, the U.S. dollar fell to 146.77 Japanese yen from 147.38 yen. The euro cost $1.0986, up from $1.0954.
Jamal Al-Loughani, Secretary-General of the Arab Energy Organization (AEO), formerly known as OAPEC.
KUWAIT CITY, Aug 13: The global economy showed signs of relative improvement in the second quarter of 2025, driven primarily by accelerated spending on imports in anticipation of higher US tariffs, alongside a general improvement in global financial conditions. This was revealed by Jamal Al-Loughani, Secretary-General of the Arab Energy Organization (AEO), in a statement to Kuwait News Agency (KUNA) on Wednesday, following the release of the organization’s second quarterly report on the global oil market.
Al-Loughani noted that the global economic growth rate forecast for 2025 was revised upward to 3%, compared to the earlier forecast of 2.8%. He attributed this positive shift to factors such as improved financial conditions and preemptive import spending. However, he cautioned that the lack of comprehensive trade agreements continues to stir concerns about the long-term impact of ongoing global trade uncertainties.
Despite this uptick in global growth, Al-Loughani pointed to a concerning 12.1% decline in the average spot prices of the OPEC basket of crudes, which fell to USD 67.4 per barrel during the second quarter. The prices of crude oil futures also recorded quarterly losses, with Brent crude and US West Texas Intermediate (WTI) falling by 10.8%, reaching $66.8 and $63.7 per barrel, respectively.
The AEO Secretary-General attributed the drop in oil prices to several factors, including shifts in US trade policy, growing concerns about a potential slowdown in global economic growth, and weaker oil demand. Additionally, he mentioned that the downgrade of the US sovereign credit rating due to rising government debt and a slowdown in China’s industrial production and retail sales further dampened investor sentiment.
Global oil supplies showed a slight increase, rising by 0.4% compared to the previous quarter, reaching 104 million barrels per day. This uptick was largely due to increased output from OPEC+ nations and the United States. On the demand side, however, global oil consumption saw a modest decline of 0.03% quarter-on-quarter, influenced by weaker demand from China and other Asian countries.
OPEC member states experienced a 9.5% decrease in crude oil exports during the second quarter of 2025, dropping to approximately $100 billion. This drop in revenue was primarily attributed to falling oil prices. Al-Loughani noted that these developments had a direct impact on the economic performance of member states, with a decline in oil revenues negatively affecting public finances and external accounts.
Despite these challenges, he emphasized that OPEC member states continued to pursue economic reforms aimed at reducing inflation, stimulating investment, and boosting labor market growth. Furthermore, the non-oil sector provided some support to these economies, helping to mitigate the overall economic impact.
Looking ahead, Al-Loughani expressed optimism for the continued growth of the oil sector, particularly with the OPEC+ decision to implement additional voluntary cuts in April and November 2023. These cuts are set to gradually increase production, reaching 411,000 barrels per day in July, 548,000 barrels per day in August, and 457,000 barrels per day in September. This increase in oil production is expected to positively affect oil revenues, which remain a crucial source of national income for member states.
Despite these positive steps, Al-Loughani warned that the global oil market remains surrounded by uncertainty. While OPEC forecasts indicate a decline in oil supplies from non-OPEC+ countries in the third quarter of 2025, global oil demand is expected to rise to approximately 105.5 million barrels per day. These projections, however, remain speculative due to several ongoing uncertainties, including escalating global trade tensions, geopolitical risks in the Middle East and Eastern Europe, and concerns over global economic growth.
Al-Loughani praised the continued efforts by OPEC+ countries, including six members of the Arab Energy Organization, to maintain balance and stability in the global oil market. These ongoing precautionary measures are aimed at ensuring the oil market remains resilient amid global economic and geopolitical challenges.
While the global economy has shown signs of recovery in the second quarter of 2025, the outlook for the oil market remains volatile, with both supply and demand factors contributing to continued uncertainty.
Business
Gulf Bank Concludes Successful Participation in University Admission Fairs at Kuwait University and Abdullah Al-Salem University
KUWAIT CITY, Aug 12: As part of its ongoing commitment to supporting education and empowering Kuwaiti youth, Gulf Bank has successfully concluded its distinguished participation in the university admission fairs at Kuwait University and Abdullah Al-Salem University. The Bank actively engaged with new students, introducing them to its tailored banking solutions designed specifically for young people.
Gulf Bank took part in the interactive admission fair held at Kuwait University’s Sabah Al-Salem University City in Al-Shadadiya from 19 to 29 July 2025. The Bank’s booth attracted a high turnout from students and parents, who showed great interest in the banking services designed for university students.
Similarly, the Bank participated in the admission fair hosted by Abdullah Al-Salem University at its Khaldiya campus from 6 to 17 July 2025. Gulf Bank’s presence featured direct interaction with visitors, providing comprehensive information on student accounts and other tailored services.
These participations are part of Gulf Bank’s continuous efforts to strengthen engagement with youth and support them in the early stages of their academic journey. Alongside sharing information on academic majors and admission processes, the Bank also offered financial tips to help students manage their resources effectively from the start of their university life.
At both events, Gulf Bank showcased its red account, one of its leading banking solutions designed for customers aged 15 to 25. The account offers a wide range of benefits, including prepaid cards, exclusive discounts, rewards on purchases, and access to unique events and experiences that enrich both personal and professional growth.
Beyond its features, the red account serves as a platform to promote financial literacy among youth, equipping them with the knowledge and skills to make informed financial decisions early in life – positively shaping their future and fostering a generation that is financially aware and capable of managing resources effectively.
Gulf Bank’s team expressed pride in supporting students throughout their high school and university years, offering innovative banking services designed to keep pace with their fast-paced lifestyles.
Gulf Bank concluded its participation by thanking the administrations of both universities for organizing the fairs, which serve as valuable platforms to connect with youth. The Bank reaffirmed its commitment to continuing its support for educational and youth initiatives that contribute to Kuwait’s development and enhance the quality of life for its students and community.
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