Wall Street's Big Loans to Emerging Markets Spark Risk Worries
Panama has borrowed $6 billion in bank loans denominated in US dollars, euros and Swiss francs within the past 10 months. Angola, which is using most of its fiscal revenue to pay salaries and service debt, in January increased its bond program to use the notes as collateral for about $1 billion of loans from JPMorgan Chase & Co. Now Colombia is in talks for up to $10 billion of loans in Swiss francs.
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Time Business News
35 minutes ago
- Time Business News
Rolex Super Clones in Dubai: Style, Precision, and Value
Dubai has long been known as a global hub for luxury, style, and opulence. From the glittering skyline of Downtown to the lavish malls and gold souks, the city embraces a lifestyle where elegance is part of daily life. Among the most coveted symbols of this luxury is the Rolex watch. However, in recent years, there has been a growing interest in Rolex super clones high‑quality replicas that closely match the original in appearance and function. These super clones have carved a niche in Dubai's luxury scene, offering a blend of style, precision, and value for those who want the Rolex experience without paying the six‑figure price tag. Collectors, tourists, and professionals are all drawn to Dubai's flourishing watch market. It is hardly surprising that Rolex super clones have acquired a devoted following here, given the constant increase in demand for high-end timepieces. Super clones, as opposed to regular replicas, are carefully designed and frequently use premium stainless steel, sapphire crystal, and Swiss-made movements that replicate the accuracy of real Rolex watches. These timepieces are frequently available in specialty shops or covertly through private sellers in Dubai. They appeal to buyers not just because they seem like the real thing but also because of the quality that makes them dependable over time. One of the main reasons Rolex super clones are so popular in Dubai is their uncanny resemblance to authentic Rolex models. Whether it's the elegant Datejust, the sporty Submariner, or Super clones watches in usa the prestigious Daytona, these watches are almost indistinguishable from the originals at first glance. In a city where fashion and first impressions are paramount, wearing a timepiece that mirrors the prestige of a Rolex can elevate one's style without breaking the bank. The finish, weight, and even the way the second hand sweeps are designed to emulate the real experience. Many super clones also feature fully functional chronographs, rotating bezels, and water resistance, making them not just visually appealing but also practical. While style is a key selling point, the engineering behind Rolex super clones is what sets them apart from standard replicas. High‑end versions often use Swiss or Japanese automatic movements, ensuring accuracy and smooth performance. Some even incorporate the same mechanical complications as the originals, such as dual time zones or date magnification through a cyclops lens. In Dubai's competitive luxury market, precision matters. Professionals and enthusiasts appreciate that these watches don't just look the part—they perform with a level of reliability that rivals many mid‑tier luxury brands. This technical craftsmanship makes them appealing to those who value both form and function. Depending on the model and rarity, the price of a real Rolex can range from several thousand to hundreds of thousands of dirhams. However, at a fraction of the price, Rolex super clones provide a comparable look and functionality. Because high-quality super clones in Dubai may be purchased for a few hundred to several thousand dirhams, a larger audience can afford them. For many, this is a wise fashion investment. They enjoy the status of donning a Rolex design without having to worry about breaking a valuable original or incurring financial obligations. Additionally, buying super clones makes it more cheap to have a variety of styles thanks to Dubai's vibrant social scene. While Rolex super clones are legal to own in many cases, selling counterfeit goods as genuine is prohibited in the UAE. Buyers should be aware that these watches, despite their quality, are still replicas. Reputable sellers will be upfront about this and market them as super clones rather than trying to pass them off as originals. It is also important to note that while the best super clones can last for years, they may not have the same long‑term durability or resale value as an authentic Rolex. Maintenance and servicing should be done carefully, ideally by watchmakers familiar with replica movements. Dubai's passion for high-end timepieces, whether genuine or not, stems from its sophisticated and international culture. This lifestyle is well suited to Rolex super clones, which provide an inexpensive entryway into the world of watchmaking. They can be an unforgettable buy for visitors, capturing the city's glitz without breaking the bank. Locals use them as fashionable everyday attire that complements the opulent style of the city. Dubai itself is reflected in many ways by Rolex super clones: a fusion of modernity and heritage, where aspiration and craftsmanship coexist. They appeal to a wide range of consumers because they strike a balance between luxury and usefulness. Rolex super clones in Dubai are more than just replicas—they are finely crafted timepieces that deliver style, precision, and value. While they will never fully replace the prestige of owning a genuine Rolex, they offer a compelling alternative for those who appreciate the design and functionality without the hefty price tag. In a city where image and excellence go hand in hand, these super clones have secured their place as a stylish and accessible choice for watch lovers. TIME BUSINESS NEWS
Yahoo
2 hours ago
- Yahoo
Switzerland scrambles to ink trade deal with US amid certain 'economic blow' due to tariffs
The Swiss government announced on Monday that it is preparing a "more attractive offer" in its trade negotiations with the United States, in a bid to avoid high 39% US tariffs on its imports, which would severely damage the export-driven Swiss economy. In an official statement following an emergency government meeting, the Federal Council - the executive body of the Swiss government - confirmed its intention to continue talks with Washington, even after US President Donald Trump's 7 August deadline for the new tariffs to come into force. The government said in a statement: "Switzerland enters this new phase ready to present a more attractive offer, taking US concerns into account and seeking to ease the current tariff situation." While pledging to continue dialogue and secure fair trade treatment compared to its main competitors, the government did not disclose the details of the offer and stressed that it is not currently considering countermeasures. An unexpected blow for Switzerland Switzerland was caught off guard on Friday by the US administration's decision to impose some of the highest tariffs as part of Trump's policy to restructure global trade. The decision has caused widespread concern in economic circles, with industry organisations warning that tens of thousands of jobs are threatened by the new tariffs. It is estimated that the tariffs, which come into effect next Thursday, will affect about 60% of Swiss exports to the United States, leaving few options for Bern, which considers Washington its largest market for its exports of medicines, watches, machinery and chocolate. The Swiss government declined to comment on whether President Karin Keller-Sutter would travel to Washington for direct talks, a proposal made by a number of officials, including Nick Hayek, CEO of watchmaker Swatch. Related Boeing worker strike stalls production of new and advanced US fighter jet Europe's M&A market is alive and kicking - in spite of the odds According to economist Hans Gersbach of the ETH University in Zurich, a 39% tariff could reduce Switzerland's GDP by between 0.3% - 0.6%. If the pharmaceutical sector, which is currently untouched by the tariffs, is included, the contraction could exceed 0.7%, while long-term disruptions could reduce GDP by more than 1%. Nomura expects the escalation to prompt the Swiss National Bank to cut interest rates at its next meeting in September. US accusations of 'unilateral trade relationship' The White House justified its decision to impose tariffs by accusing Switzerland of not making "meaningful concessions" on the issue of removing trade barriers, describing the current relations between the two countries as "one-sided". On the other hand, Swiss officials and economists expressed surprise that their country was targeted by this measure, despite the depth of trade relations between the two sides. The Swiss statement noted that the volume of bilateral trade has quadrupled over the past 20 years, while Switzerland is the sixth largest foreign investor in the United States. He also pointed out that Switzerland had unilaterally abolished all customs duties on industrial goods as of 1 January 2024, allowing more than 99% of US goods to enter the Swiss market without duties. Trade deficit at the centre of the crisis Trump blames the current regime for a trade deficit estimated at $1.2 trillion (€1.04tn). According to official data, Switzerland recorded a trade surplus with the US of 38.5 billion Swiss francs (€41.2bn) last year, putting it under the microscope as part of Trump's efforts to reduce the deficit. Swiss President Keller-Sutter told Reuters on Friday: "The president is very focused on the trade deficit, because he sees it as an economic loss for the United States." Related The Big Question: Is a Swedish start-up the answer to Europe's ammunition problem? Seven all-American products that are actually 'Made in Europe', set to be hit by US tariffs The US decision has angered Switzerland because of what it sees as "discrimination". Government data shows that the European Union, Japan and South Korea - all of which have larger trade surpluses with Washington - have been able to negotiate tariffs of no more than 15%. Figures show that the EU's trade surplus with the US is about $235bn (€204bn), compared to $70bn (€61bn) for Japan and $56bn (€49bn) for South Korea. Options on the table Swiss Economy Minister Guy Parmelin hinted over the weekend that the government is open to reviewing its offer, talking about options including buying US liquefied natural gas and increasing Swiss investments in the US. However, some politicians have called for a stronger response, including one who suggested cancelling a 6 billion CHF deal to buy F-35A Lightning II fighter jets from the US. Related Boeing worker strike stalls production of new and advanced US fighter jet In financial markets, the main Swiss stock index (.SSMI) fell 0.4% on Monday, bucking the positive trend in Europe where the STOXX 600 index rose 0.8%. Shares of luxury watch companies such as Richemont and Swatch fell amid volatile trading. Richemont was down 1.5% after a 3.5% drop on the day, while Swatch was down 1.8% after a 5% loss earlier in the day. On the currency front, the Swiss franc was the worst performer against the dollar, rising 0.4% to CHF0.8073, nearing a one-month high. 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Yahoo
3 hours ago
- Yahoo
Posthaste: Condo prices in the suburbs are cratering
Canada's condo market has taken a beating recently, but nowhere more so than in the suburbs. Prices in communities surrounding Toronto such as Halton Hills, Ont., have plummeted by more than 50 per cent from their peak, says a report by Moody's Analytics. Brampton, Mississauga and Oakville have also suffered 'significantly' steeper losses than the City of Toronto itself. White Rock, B.C. and West Vancouver have seen peak-to-trough declines of 30 to 40 per cent compared with the national condo price drop of about 8 per cent. 'Given the booming supply, proximity is commanding a premium, and periphery markets are giving back their pandemic gains,' said Brendan LaCerda, director of economic research at Moody's. During COVID-19 lockdowns, prices soared in regions surrounding Toronto and Vancouver, as remote work prompted an exodus from downtown cores. In response, developers built more, and supply boomed, eroding the price premium on suburban condos, said the report. Since Canada's housing market peaked in mid-2022, the performance of multifamily housing markets and that of single-family homes has diverged sharply, said Moody's. Both markets plunged when mortgage rates began to rise, but after bottoming out a year later, the single-family home market has made steady gains, while the multi-family market has suffered further declines. By the first quarter of 2025, condo sales in the Toronto area had dropped 75 per cent from their peak in mid-2022, said Canada Mortgage and Housing Corporation in a separate report. Months of inventory for pre-construction condominiums here hit a record high, 14 times higher than in 2022. Moody's said the outlook in the short run depends on how well the condo market can absorb the new inventory. Pre-construction sales were driven by low interest rates, but as these are reset at a higher rate, distressed borrowers could be forced to sell, putting more pressure on prices. 'With a wave of new supply poised to hit the market and interest rates remaining elevated, the downward trend in condo prices is likely to endure,' said LaCerda. to get Posthaste delivered straight to your almighty American consumer seems to be taking a breather, and tariff price hikes may be to blame. After shrinking in May, U.S. real personal spending rose just 0.1 per cent in June, said Sal Guatieri, a senior economist with BMO Capital Markets. 'Services spending was soft, but the real standout was a 0.5 per cent drop in durables even after a previous large decline,' he said. Durable goods have been hit by new duties, and as BMO's chart shows, prices have climbed 3.2 per cent annualized over the past five months, the biggest increase in nearly three years. Household appliances spiked 16 per cent, computing equipment 14 per cent and home furnishings 5 per cent. 'Further price increases are expected, which could depress consumption in the second half of the year,' said Guatieri. The voting period for unionized Air Canada flight attendants on a strike mandate ends today. Greater Vancouver realtors are expected to release July housing data today, followed by the Toronto Regional Real Estate Board Wednesday. Today's Data: Canada International merchandise trade, United States trade balance Earnings: Suncor Energy Inc., Pfizer Inc., Great-West Lifeco Inc., Pet Valu Holdings Ltd., Molson Coors Beverage Co. 'The mood is dour': Threat of trade deal delay weighs on some sectors more than others Bank of Canada offers no lifeboats for drowning mortgagors How does John decide whether to sell or lease his grain farm before he retires next spring? It's mid-summer, and the markets — and the business world — just get weirder and weirder. From the meme stock revival to Donald Trump's feud with Fed chair Jerome Powell, investing pro Peter Hodson looks at some of the summer's more bizarre trends. Read on Are you worried about having enough for retirement? Do you need to adjust your portfolio? Are you starting out or making a change and wondering how to build wealth? Are you trying to make ends meet? Drop us a line at wealth@ with your contact info and the gist of your problem and we'll find some experts to help you out while writing a Family Finance story about it (we'll keep your name out of it, of course). McLister on mortgages Want to learn more about mortgages? Mortgage strategist Robert McLister's Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won't want to miss. Plus check his mortgage rate page for Canada's lowest national mortgage rates, updated daily. Financial Post on YouTube Visit the Financial Post's YouTube channel for interviews with Canada's leading experts in business, economics, housing, the energy sector and more. Today's Posthaste was written by Pamela Heaven with additional reporting from Financial Post staff, The Canadian Press and Bloomberg. Have a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at posthaste@ Why Canada's job market might be too good to be true Canadian businesses cautiously optimistic as they absorb tariff challenges Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
