October 16, 2026
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Tag : interest rates

Business

Fed Chair Powell signals smaller rate cuts to keep economy in solid shape

omandailynews.com
MENA Newswire News Desk: Federal Reserve Chair Jerome Powell reiterated Monday that the central bank will take necessary measures to maintain the economy’s strength, although future interest rate cuts will likely come in smaller increments. Speaking during a Q&A session...
Business

Chinese Yuan hits record lows against surging US dollar

omandailynews.com
The yuan has hit new record lows against the surging US dollar, with the internationally-traded yuan reaching its lowest point since 2011 and China's domestic currency hitting its weakest level since the 2008 global financial crisis. This depreciation comes as...
Business

JPMorgan Chase exceeds expectations with stellar first-quarter results

omandailynews.com
JPMorgan Chase announced a record-breaking first-quarter profit and revenue that surpassed expectations on Friday. The New York-based bank reported a profit of $12.6 billion or $4.10 per share, up 52% from $8.3 billion or $2.63 per share a year earlier....