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Trump tariffs jolt Tokyo: Stocks on track for worst week in 5 years

The Nikkei index was down 3.6 per cent at 33,474.56, and on course for a weekly decline of nearly 10 per cent

Reuters
Reuters

04 April, 2025

Trump tariffs jolt Tokyo: Stocks on track for worst week in 5 years
Image credit: Getty Images

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Japanese stocks sank on Friday to their lowest levels since last August, and were set for their sharpest weekly drop in five years, as fears of a global recession in the wake of US President Donald Trump’s sweeping tariffs gripped markets.

As of 0420 GMT, the Nikkei index was down 3.6 per cent at 33,474.56, and on course for a weekly decline of nearly 10 per cent, if losses hold.

The broader Topix fell 4.6 per cent to 2,448.94, poised for a weekly drop of 11 per cent. Both indexes were set for their steepest weekly losses since March 2020.

The brutal selloff came after Trump announced on Wednesday Washington’s steepest trade barriers in more than 100 years, sending investors scrambling for safe-haven assets, including the yen, which added further pressure on Japanese stocks.

The rout was led by banking stocks as the spectre of tariffs and their potential impact on economic growth stoked speculation that the Bank of Japan may need to delay rising interest rates.

Read more: Full list: Trump’s tariffs on every country, including the UAE, Saudi

Japanese bank shares recently gained popularity among investors betting on rising BOJ interest rates.

All but three of the Tokyo Stock Exchange’s 33 industry sub-indexes dropped on Friday, with the banking index down 11 per cent, making it the worst performer and triggering a circuit breaker.

The banking index was on track for a decline of more than 20 per cent this week, its worst weekly performance on record. Shares of Mitsubishi UFJ Financial Group, one of Japan’s biggest banking groups, fell 11.6 per cent and were set for their biggest one-day drop since August 5.

“Banks in Japan are caught in the crossfire of waning rate-hike expectations coinciding with the market coming to terms with increased chances of a global recession,” said Jon Withaar, who manages an Asia special situations hedge fund at Pictet Asset Management.

Read more: Global markets reel as Trump slaps sweeping tariffs

BOJ Governor Kazuo Ueda said that the central bank will scrutinise the impact of US tariffs on the country’s economy when setting monetary policy, warning the higher levies will likely weigh on global and domestic economic growth.

Wall Street benchmarks slumped on Thursday, ending with the largest single-day percentage losses in years. S&P 500 companies lost a combined $2.4 trillion in stock market value.

Takamasa Ikeda, senior portfolio manager at GCI Asset Management, said the Nikkei has “double headwind – the tariff and the stronger yen” and could fall to as low as 32,000 this month.

Big news from WhatsApp: Here’s what its new feature is all about

The feature is being rolled out globally and will expand over the next few weeks

Nida Sohail
Nida Sohail

03 April, 2025

Big news from WhatsApp: Here’s what its new feature is all about
Image credit: Getty Images

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WhatsApp has introduced a new feature that allows users to add music to their ‘Status’ updates.

Not only do these updates provide users with a fun advantage, but WhatsApp Status has always been a way to share life’s moments with friends and family.

Read- 7 ways to ensure your WhatsApp account doesn’t get hacked

According to a blog post by WhatsApp, users can add music to their WhatsApp statuses by tapping on the ‘music note icon’ at the top of their screen, unlocking a song library to choose from. From there, users can pick from top hits, something new, or the earworm stuck in their head. They can also choose the exact part of the song that fits the moment – up to 15 seconds for a photo and up to 60 seconds for a video.

With millions of songs to choose from, users’ statuses are end-to-end encrypted, so WhatsApp cannot see what users share, nor can it know which songs are added to statuses.

The feature is being rolled out globally and will expand over the next few weeks.

In March of this year, WhatsApp launched the ‘Lists’ feature for its UAE users.

With this feature, WhatsApp users can filter their chats into custom categories of their choice. Lists can be created for families, work colleagues, friends, or even neighborhoods, helping users focus on the chats that are most important when needed.

Lists can be created and edited by tapping the + icon in the filter bar at the top of your Chats tab or by long-pressing a list.

Similar to ‘Favorites,’ users can add both groups and one-on-one chats to a list, and any list they create will appear in the filter bar.

WhatsApp has become absolutely synonymous with communication in today’s world. Whether for personal or business use, it’s the first app people turn to when they need to convey a message immediately across the globe.

OPEC+ speeds up oil output hikes, oil drops

After a meeting of the eight countries held online on Thursday, the group announced it would boost output by 411,000 bpd in May

Reuters
Reuters

03 April, 2025

OPEC+ speeds up oil output hikes, oil drops
Credit: Getty Images

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Eight OPEC+ countries agreed on Thursday to advance their plan to phase out oil output cuts by increasing output by 411,000 barrels per day in May, an unexpected decision that prompted oil prices to extend earlier losses.

Oil, which was already down over 4 per cent on US President Donald Trump’s announcement of tariffs on trading partners, extended declines after OPEC updated its plans in a statement, with Brent crude dropping over 6 per cent towards $70 a barrel.

Eight members of OPEC+, which includes the Organization of the Petroleum Exporting Countries and allies led by Russia, had been scheduled to raise output by 135,000 barrels per day in May as part of a plan to gradually unwind their most recent layer of output cuts.

But after a meeting of the eight countries held online on Thursday, the group announced it would boost output by 411,000 bpd in May. OPEC cited “continuing healthy market fundamentals and the positive market outlook.”

“This comprises the increment originally planned for May in addition to two monthly increments,” OPEC said in a statement referring to the volume. “The gradual increases may be paused or reversed subject to evolving market conditions.”

The May hike is the next increment of a plan agreed by Russia, Saudi Arabia, UAE, Kuwait, Iraq, Algeria, Kazakhstan and Oman to gradually unwind their most recent output cut of 2.2 million bpd, which came into effect this month.

OPEC+ also has 3.65 million bpd of other output cuts in place until the end of next year to support the market.

Focus on compliance

The decision on Thursday partly reflects OPEC+ leaders’ wish to improve compliance with production quotas, analysts said.

“OPEC+ focus is on compliance and this decision forces the laggards to step up compliance,” said Amrita Sen, co-founder of Energy Aspects.

Record output in Kazakhstan has angered several other members of the group, including top producer Saudi Arabia, sources have told Reuters. OPEC+ is urging the Central Asian country, among other members, to make further cuts to compensate for excess production.

Kazakhstan has been producing oil well above the targets agreed with OPEC+ in recent months. OPEC data also shows some other OPEC+ nations such as the United Arab Emirates, Nigeria and Gabon pumping above their quotas, but by far smaller amounts.

Production in Kazakhstan could drop this month and exports could decline after Russia ordered to shut some export capacity on the CPC pipeline, the main evacuation route for oil in Kazakhstan produced by oil majors such as U.S. Chevron and Exxon Mobil.

The eight OPEC+ countries will meet on May 5 to decide on June output, OPEC’s statement said.

ORO24 unveils new identity

The transformation includes a refreshed logo and powerful visuals, symbolizing the company’s growth and forward-looking direction

Gulf Business
Gulf Business

03 April, 2025

ORO24 unveils new identity
Image credit: Supplied

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ORO24 has unveiled a new brand identity that reflects the company’s commitment to innovation, excellence, and delivering unparalleled real estate experiences.

The transformation includes a refreshed logo and powerful visuals, symbolizing the company’s growth and forward-looking direction.

Read- ORO24’s Atif Rahman on elevating Dubai’s real estate game

While ORO24’s outward appearance is evolving, their core mission remains steadfast: to deliver exceptional assets that inspire and enrich lives. The brand deeply values the trust and support of its clients, partners, and community, and is confident that this rebranding will strengthen its bond with all stakeholders.

The company may still be using some of its previous branding in certain locations during the rebrand.

Some of their upcoming developments include Torino, Elano, and a mosque in Arjan, as well as Levanto in JVC.

Additionally, the company is developing its remarkable new headquarters in the Umm Al Sheif area. The headquarters will feature spacious offices, cutting-edge technology, infrastructure, and luxurious facilities, providing an inspiring environment for business to flourish.

Located along Sheikh Zayed Road, the headquarters sits at the heart of Dubai’s commercial hub. Its prime location ensures effortless access to major transportation networks, with the Equity Metro Station and bus station just steps away, facilitating seamless travel for occupants and visitors. Furthermore, its proximity to key business districts adds to its appeal.

7 ways to ensure your WhatsApp account doesn’t get hacked

Stolen WhatsApp accounts are frequently used for various criminal activities, including spam distribution, scams, and other illicit schemes

Nida Sohail
Nida Sohail

03 April, 2025

7 ways to ensure your WhatsApp account doesn’t get hacked
Image credit: Getty Images

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WhatsApp accounts are a popular target for cybercriminals, not only for jealous spouses and nosy coworkers but also for malicious actors.

Stolen WhatsApp accounts are frequently used for various criminal activities, including spam distribution, scams, and other illicit schemes. Cybercriminals are constantly seeking WhatsApp accounts and use various methods to gain unauthorised access.

How cybercriminals can gain control of your account

Cybercriminals can take control of a WhatsApp account in two ways: by adding another device to the existing account using the “Linked devices” feature, or by re-registering the account on their own device, as though the user had bought a new phone.

Read-WhatsApp launches ‘Lists’ in UAE: What the new feature has to offer

In the first case, the user can continue using WhatsApp normally, but the criminals also have access to all recent conversations.

In the second case, the user loses access to their personal account. When attempting to log in, WhatsApp notifies them that the account is already in use on another device. The attackers can then control the account but won’t have access to past conversations.

Protecting your privacy

“Messengers are a private space, often containing personal details about our lives, relationships, work, and sometimes confidential information. If you notice unusual activity, such as replies to messages you didn’t send or your friends complain about strange messages coming from your account, it’s important to take immediate action to protect your privacy,” says Seifallah Jedidi, Head of Consumer Channel at META, Kaspersky.

While instructions are available on what to do if your WhatsApp account is compromised, here are the key steps to prevent your account from being hacked:

  1. Enable two-step verification and memorize your PIN — it’s not a one-time code.
    • Go to Settings → Account → Two-step verification.
  2. Never share your PIN or one-time registration codes with anyone. Only scammers will ask for these details.
  3. Enable passkeys for additional security. If activated (Settings → Account → Passkeys), you’ll use biometric authentication to log in, and your smartphone will store a cryptographic key instead of relying on PIN codes. This option is highly secure but may not be ideal if you frequently change devices or switch between Android and iOS.
  4. Set up a backup email address for account recovery: Settings → Account → Email address.
  5. If you’ve already added an email address, log in and change your email password to something strong and unique. Use a password manager, like Kaspersky Password Manager, to store it securely.
  6. Enable two-factor authentication for your email account.
  7. Avoid falling victim to a SIM swap scam:
    • Contact your mobile carrier — preferably in person — and verify that no duplicate SIM cards have been issued for your number. Also, ensure there’s no unauthorized call forwarding set up on your account. Cancel any suspicious changes and inquire about additional security measures for your SIM card. These may include requiring your presence for SIM-related actions, adding extra authentication passwords, or other security options. These measures vary by country and mobile carrier.

Any security features within WhatsApp will be ineffective if your smartphone or computer is infected with malware. Therefore, install comprehensive protection on all your devices.

Next UAE long weekend? Here’s when to expect it

However, these dates may vary depending on the moon sighting

Nida Sohail
Nida Sohail

03 April, 2025

Next UAE long weekend? Here’s when to expect it
Image credit: Getty Images

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With the holy month of Ramadan and the Eid Al Fitr holidays behind us, many in the UAE might now be looking forward to the next long weekend.

The next long weekend in the UAE will be for Arafat Day and the Eid Al Adha holidays in June 2025.

Read-Planning your next break? Here’s the list of UAE public holidays in 2025

According to UAE regulations, residents are entitled to one day of leave on Arafat Day (9th Dhul Hijjah) and three days of leave for Eid Al Adha (from 10th to 12th Dhul Hijjah).

The 9th Dhul Hijjah 1446 is expected to coincide with June 5, 2025 (Thursday). This suggests the holidays will begin on June 5 and end on June 8, resulting in a four-day long weekend.

However, these dates may vary depending on the moon sighting.

In 2024, for example, the Saudi Supreme Court confirmed the crescent moon sighting on June 6, marking the beginning of Dhul Hijjah. Eid Al Adha then fell on Sunday, June 16, corresponding to the 10th day of Dhul Hijjah.

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