Specialist Alex Weitzman works at his post on the floor of the New York Stock Exchange on July 21. (AP)

NEW YORK, July 24, (AP): US stocks set more records on Wednesday following a trade deal between the world’s No. 1 and No. 4 economies, one that would lower proposed tariffs on Japanese imports coming to the United States. The S&P 500 added 0.8% to its all-time high. The Dow Jones Industrial Average rallied 507 points, or 1.1%, and the Nasdaq composite climbed 0.6% to hit its own record.

Stocks jumped even more in Tokyo, where the Nikkei 225 rallied 3.5% after President Donald Trump announced a trade framework that would place a 15% tax on imports coming from Japan. That’s lower than the 25% rate that Trump had earlier said would kick in on Aug. 1. “It’s a sign of the times that markets would cheer 15% tariffs,” said Brian Jacobsen, chief economist at Annex Wealth Management.

“A year ago, that level of tariffs would be shocking. Today, we breathe a sigh of relief.” Trump has proposed stiff taxes on imports from around the world, which carry the double-edged risk of driving up inflation for US households while slowing the economy. But many of Trump’s tariffs are currently on pause, giving time to reach deals with other countries that could lower the tax rates.

Trump also announced a trade agreement with the Philippines on Tuesday. So far, the US economy has seemed to hold up OK despite the pressures on it. And tariffs already in place may be having less of an effect than expected, at least when it comes to the prices that US households are paying at the moment.

“The main lesson about tariffs so far is that passthrough to consumer prices is tracking somewhat lower than in 2019,” according to Goldman Sachs economist David Mericle. Tariffs are certainly having an effect, to be sure, as big US companies across industries have been showing through their profit updates in recent days.

Hasbro took a $1 billion, non-cash hit to its results for the spring to write down the value of some of its assets following a review triggered by the implementation of tariffs. It said tariffs have had no impact yet on how much profit it’s making from each $1 of its sales, but it expects to see costs ramp during the current quarter. 

KUWAIT CITY, July 23: As part of its annual summer campaign for riders, talabat, the leading on-demand online ordering and delivery platform in the MENA region, is bringing back its rest stop initiative, with four strategically located, air-conditioned buses across Kuwait. This initiative aligns with the company’s corporate social responsibility (CSR) strategy and commitment to providing riders with a safe working environment where their health and wellbeing remains the top priority, especially during summertime.

Building on the initiative’s success for four consecutive years, talabat continues to extend its welcome this year to all riders across Kuwait. Including those from outside its network, to rest and replenish at any of its bus stop rest areas. These stations are well-equipped with comfortable seating, water, and first-aid essentials, reinforcing talabat’s role in promoting inclusivity and accessibility for all. Commenting on the revival of the initiative, Bader Al-Ghanim, Vice President and Managing Director of talabat Kuwait, said: “Our role in the communities we serve extends beyond delivery. We are invested in the wellbeing of every individual who contributes to keeping our ecosystem running, starting with the riders. These rest stations, launched as part of our summer campaign for the fourth year in a row, refl ect our continued efforts to ensure safe and comfortable working conditions for riders all year long.”

He added: “As part of our day-to-day operation, which is powered by a wide network of riders, logistics partners, and support teams, we remain deeply aware of the unique challenges they face on the ground every day. This understanding drives us to provide meaningful support that responds to the nature of their work, with a strong focus on health, wellbeing and improving the overall work environment.” Although talabat riders are hired through logistics partners, Al-Ghanim confirmed that the talabat remains responsible for ensuring they receive insurance coverage, summer kits, and regular access to road safety workshops and health screenings. He emphasized that riders are core contributors to the reliable, high-quality service that talabat delivers to its customers, and as such, remain a top priority within the company’s wellbeing efforts. It’s worth noting that the fully equipped rest station initiative rolled out across Kuwait is just one of several efforts talabat has launched during the summer to support rider wellbeing and promote safer, more comfortable working conditions on the road. Through initiatives like these, talabat continues to lead by example, demonstrating how companies can adopt a people-first approach rooted in long-term commitment to those at the heart of the delivery ecosystem.

Chairman of the Board of Directors of Kuwait Airways Corporation, Abdul Mohsen Al-Faqan, and Director General of the Kuwait Foundation for the Advancement of Sciences, Dr. Amina Farhan, in a group photo with a number of the company’s leaders.

KUWAIT CITY, July 23: Kuwait Airways discussed with the Kuwait Foundation for the Advancement of Sciences (KFAS) ways to enhance training, cultural, and social responsibility initiatives, in addition to cooperating on training courses across various specializations. Chairman of the Board of Directors of Kuwait Airways, Abdul Mohsen Al-Faqan, told Kuwait News Agency (KUNA) on Wednesday that the airline explored avenues for joint cooperation with KFAS, particularly in the fields of energy and artificial intelligence. Al-Faqan added that Kuwait Airways will focus on developing human resources and training employees and leaders in collaboration with KFAS through specialized technical and scientific courses.

He stated that investing in human capital and leadership development plays a vital role in achieving the company’s goals, especially in supporting its strategy for digital transformation and innovation. He noted that the meeting also addressed ways to enhance Kuwait Airways’ efficiency in terms of both human and technological resources. In addition, both parties emphasized the importance of spreading and promoting scientific culture, stressing that the visit reflects Kuwait Airways’ ongoing efforts to strengthen cooperation with national institutions. Al-Faqan affirmed that the visit falls within Kuwait Airways’ commitment to foster collaboration with entities from both the public and private sectors. He emphasized that the airline, being a key component of the national economy, is keen to contribute to driving economic growth and development in the country. It is worth noting that Kuwait Airways has signed several agreements and partnerships with national companies and government agencies, including Zain, the Public Authority for Applied Education and Training, the Touristic Enterprises Company, the Kuwait Oil Company, and the Kuwait Flour Mills and Bakeries Company, among others (KUNA)

By Mohammad Al-Mutairi