Budgets After fresh tax: milk in Pakistan becomes more expensive than in France Milk prices in Pakistan surged by more than a fifth after a new tax was applied in the federal budget, making the... Published 04 Jul, 2024 07:44pm
Forex SBP-held foreign exchange reserves increase $494mn, now stand at $9.39bn Central bank says official inflows from multilateral agencies helped boost foreign currency reserves Published 04 Jul, 2024 07:26pm
Business & Economy Non-filers: FBR blocks 210,000 SIM cards to ‘encourage’ tax payment KARACHI: Pakistan’s tax authority, the Federal Board of Revenue (FBR), said Thursday it has blocked 210,000 SIM... Updated 04 Jul, 2024 08:50pm
Stocks Most Gulf markets gain on rate cut hopes Most stock markets in the Gulf ended higher on Thursday following soft U.S. labour market data that buoyed investor... Published 04 Jul, 2024 06:42pm
Commodities Asia rice: Thai, Vietnam prices drop; African demand slows on high freight rates Prices of rice exported from Thailand and Vietnam slipped this week on slow buying as traders await import policy... Published 04 Jul, 2024 05:27pm
Stocks After positive start, KSE-100 ends session on flat note After initial gains that propelled the benchmark index to near the 81,000 level, the Pakistan Stock Exchange (PSX)... Updated 04 Jul, 2024 11:08pm
Stocks Indian shares end flat; fall in HDFC Bank offsets IT gains BENGALURU: Indian shares ended Thursday on a flat note as a drop in heavyweight HDFC Bank offset gains across... Published 04 Jul, 2024 05:20pm
Stocks Sri Lanka shares end lower as utilities and energy stocks weigh CSE All Share index settled down 0.92% at 11,926.59 Published 04 Jul, 2024 05:16pm
Commodities Copper steady as potential interest rate cuts balance soft demand LONDON: Copper prices firmed slightly on Thursday as investors balanced optimism over potential U.S. interest rate... Published 04 Jul, 2024 05:15pm
Stocks Arif Habib Limited now expects KSE-100 to hit 109,000 by June 2025 Propelled by optimism over inking a “new longer and larger” programme with the International Monetary Fund (IMF) and... Updated 04 Jul, 2024 08:53pm
Commodities Palm oil ends lower; export and production data in focus JAKARTA: Malaysian palm oil futures dropped on Thursday, tracking loss in the Dalian soyoil contract, while the... Published 04 Jul, 2024 05:09pm
Stocks FTSE Russell downgrades Pakistan to frontier market from secondary emerging status In a key development, FTSE Russell has lowered Pakistan ranking to frontier market status from secondary emerging.... Updated 04 Jul, 2024 08:51pm
Commodities Gold price per tola increases Rs1,000 in Pakistan Gold prices in Pakistan registered gains for the second consecutive session on Thursday in line with an increase in... Published 04 Jul, 2024 03:07pm
Forex Kenyan shilling steady as traders believe protests mostly over NAIROBI: The Kenyan shilling was flat in a quiet session on Thursday, as traders said they thought the worst... Published 04 Jul, 2024 02:46pm
Stocks Major Gulf markets gain on US rate cut hopes Most major stock markets in the Gulf rose in early trade on Thursday following soft US labour market data that... Published 04 Jul, 2024 02:45pm
Forex Ugandan shilling weakens on energy, manufacturing FX demand KAMPALA: The Ugandan shilling was weaker on Thursday, undercut by a pick-up in appetite for dollars from energy... Published 04 Jul, 2024 02:42pm
Stocks London stocks, pound climb as Britons head to polls LONDON: London’s stock market and the pound advanced versus the dollar Thursday as Britons voted in a general... Updated 04 Jul, 2024 05:35pm
Stocks China shares end lower; Fed rate cut bets buoy Hong Kong stocks SHANGHAI: Mainland China stocks ended lower on Thursday, dragged by property shares, while Hong Kong shares rose... Published 04 Jul, 2024 01:46pm
Commodities London copper edges up on soft dollar Copper prices rose on Thursday on a weaker dollar, but poor economic data and softer physical demand at higher... Published 04 Jul, 2024 01:44pm
Money & Banking Bank of Punjab to open offices in Bahrain, UAE The Board of Directors of the Bank of Punjab (BoP) has given its approval to the bank to establish a Wholesale... Updated 04 Jul, 2024 05:06pm
Mutual Funds Sri Lanka bond holders agree to take 28% haircut: govt COLOMBO: Sri Lanka’s private creditors have accepted a 28 percent haircut on $12.5 billion in sovereign bonds, the... Published 04 Jul, 2024 11:40am
GM fined $146 million for lowballing vehicle emissions NEW YORK: General Motors will pay nearly $146 million in penalties for underestimating emissions produced by its... Published 04 Jul, 2024 11:30am
Stocks Asia stocks hit 27-month top, dollar slips on rate cut talk SYDNEY: Asia stocks hit 27-month highs on Thursday as softer US data narrowed the odds on a September rate cut... Published 04 Jul, 2024 11:01am
India’s solar output grows at slowest pace in six years in first half of 2024 SINGAPORE: India’s solar power generation grew at the slowest pace in six years in the first half of 2024, an... Published 04 Jul, 2024 10:58am
Energy Aramco, ADNOC reportedly weighing bids for Australia’s Santos, but analysts sceptical Saudi Aramco and Abu Dhabi National Oil Company (ADNOC) have been separately considering bids for Santos, Bloomberg... Published 04 Jul, 2024 10:48am
Commodities Palm opens up, tracking Dalian’s palm oil contracts JAKARTA: Malaysian palm oil futures rose slightly on Thursday, tracking gains on the palm oil contract at the Dalian... Published 04 Jul, 2024 10:43am
Forex China’s yuan rebounds from 7-1/2-month low after weaker-than-expected US data SHANGHAI: China’s yuan rebounded on Thursday from a 7-1/2-month low against the dollar hit a day earlier, thanks to... Published 04 Jul, 2024 10:41am
Forex Australian dollar hovers near six-month high on US rate outlook SYDNEY: The Australian dollar stood tall near a six-month high on Thursday, after cracking major resistance levels... Published 04 Jul, 2024 10:39am
Nissan, Honda consider partnering on software, charging infrastructure, Nikkei says TOKYO: Japanese automakers Nissan Motor and Honda Motor are considering using standardised automotive software and... Published 04 Jul, 2024 10:34am
Exchange Rupee registers marginal decline against US dollar Currency settles at 278.50 against US dollar in inter-bank market Updated 04 Jul, 2024 08:48pm
Companies UK new car sales rose in June, preliminary industry data shows Registration of new cars in Britain increased “slightly” in June and the market crossed the half-year “million... Published 04 Jul, 2024 10:28am
China’s BYD opens EV factory in Thailand, first in Southeast Asia RAYONG: China’s BYD opened an electric vehicle plant in Thailand on Thursday, the auto maker’s first factory in... Published 04 Jul, 2024 10:19am
Bullion Rate Gold inches up after weak data fuels US rate cut bets Gold prices drifted higher on Thursday after softer-than-expected US economic data fuelled hopes that the Federal... Published 04 Jul, 2024 10:16am
Stocks South Korean shares hit 29-month high as auto, financial stocks jump SEOUL: Round-up of South Korean financial markets: South Korean shares rise on robust data; battery, biopharma... Published 04 Jul, 2024 10:11am
Stocks Miners, banks lift Australian shares after US data renews Fed rate-cut hopes Australian shares rose on Thursday led by miners and banks, after encouraging US data renewed hopes of the Federal... Published 04 Jul, 2024 10:07am
Stocks Japan’s Topix hits record high as banks and automakers rise TOKYO: Japan’s Topix hit a record high on Thursday, led by gains in automakers and banks, as the market expects a... Published 04 Jul, 2024 10:05am
Forex Indian rupee to inch up on relief for Asia FX after weak US data MUMBAI: The Indian rupee is expected to open higher on Thursday after weak US services and labor data prompted a... Published 04 Jul, 2024 09:59am
Forex Dollar on the defensive after soft data, little relief for yen TOKYO: The dollar was on the back foot on Thursday after US economic data continued to point to slowing growth,... Published 04 Jul, 2024 09:56am
Energy Brent crude oil holds above $87 a barrel LONDON: Oil prices for Brent crude held above $87 a barrel on Thursday, near their highest level since late April... Updated 04 Jul, 2024 07:21pm
Mutual Funds Indian bond yields dip as US peers off key high level MUMBAI: Indian government bond yields were lower in the early session on Thursday following a slump in US peers as... Published 04 Jul, 2024 09:49am
Stocks IT leads Indian shares to record highs BENGALURU: Information technology companies led Indian shares higher on Thursday, in line with Asian peers, after... Published 04 Jul, 2024 09:47am
Zardari urges SCB’s Group CE to invest in agri sector ISLAMABAD: President Asif Ali Zardari asked a delegation led by Group Chief Executive of the Standard Chartered Bank... Published 04 Jul, 2024 08:08am
Industry Karachi-based textile unit announces closure KARACHI: In the throes of Pakistan’s worst economic crisis, a Karachi-based textile unit has announced to lock its... Updated 04 Jul, 2024 03:38pm
Taxes Fruits, vegetables: Exports may face downward trend due to load of taxes: PAHF KARACHI: Exporters have warned that export of fruit and vegetables may face a declining trend due to imposition of... Published 04 Jul, 2024 07:53am
Companies Jazz, Google, Tech Valley celebrate success of ‘Digital Safar’ programme ISLAMABAD: Jazz in collaboration with Google and Tech Valley, a social enterprise, celebrated the success of their... Published 04 Jul, 2024 07:36am
Industry KATI chief urges govt to provide urgent relief to industries KARACHI: President of the Korangi Association of Trade and Industry (KATI), Johar Qandhari, has called on the... Published 04 Jul, 2024 07:34am
Money & Banking Japan launches banknotes with hologram portraits TOKYO: Japan began circulating its first new banknotes in 20 years on Wednesday, featuring three-dimensional... Published 04 Jul, 2024 07:22am
Companies Shell launches country’s first-ever recycled plastic retail site KARACHI: Shell Pakistan Limited (SPL) has launched Pakistan’s first-ever recycled plastic retail site, Malik... Published 04 Jul, 2024 07:16am
Pharma, healthcare sectors also reeling amid economic crisis KARACHI: Pakistan’s economy and its people are facing a health crisis. With an economy burdened by high debt and... Published 04 Jul, 2024 06:09am
Industry CPEC offers opportunity to strengthen educational sector as well: PCJCCI chief LAHORE: Moazzam Ghurki, President Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) highlighted that... Published 04 Jul, 2024 05:47am
EU gives conditional nod to Lufthansa’s proposed ITA Airways stake BRUSSELS: The EU on Wednesday announced its conditional approval for German airline Lufthansa’s proposed stake in... Published 04 Jul, 2024 05:47am
Rice exports hit historic high of $3.88bn in FY24 KARACHI: For the first time in the history, Pakistan’s rice sector has achieved a historic milestone of $ 3.88... Published 04 Jul, 2024 05:47am
Special purpose FCAs: Banks told to submit report as per revised code list KARACHI: The State Bank of Pakistan (SBP) has revised the code list pertaining to reporting of Special Purpose... Published 04 Jul, 2024 05:47am
Money & Banking Yen skids to fresh 38-year low; US dollar tumbles NEW YORK: The yen sank to a fresh 38-year low against the US dollar and a record trough versus the euro on ... Published 04 Jul, 2024 05:47am
Money & Banking Yuan slides to seven-month low HONG KONG: China’s yuan skidded to a seven-month low against the dollar on Wednesday on weak economic data and as... Published 04 Jul, 2024 05:47am
Money & Banking Indian rupee ends little changed MUMBAI: The Indian rupee closed marginally weaker on Wednesday as dollar demand from local corporates and state-run... Published 04 Jul, 2024 05:47am
Energy Tanveer urges govt to annul agreements with IPPs forthwith LAHORE: Patron-in-Chief United Business Group (UBG), S M Tanveer, has strongly urged the federal government to ... Published 04 Jul, 2024 05:47am
Export of agro and food products soars to $8bn KARACHI: Pakistan has witnessed a remarkable surge in the exports of agro and food products during the financial ... Published 04 Jul, 2024 05:47am
LED bulb parts, LED light parts: Customs’ values on import from China revised ISLAMABAD: Directorate General of Customs Valuation Karachi has revised Customs values on the import of LED bulb... Published 04 Jul, 2024 05:47am
Chagai: MPCL granted two exploration licences KARACHI: The Directorate General Mines and Minerals Balochistan has granted two Exploration Licences EL-322 and... Published 04 Jul, 2024 05:47am
Taxes Tax exemption to pensioners costs kitty Rs78bn ISLAMABAD: The income tax exemption to pensioners has caused an annual revenue loss of Rs 78 billion to the national... Published 04 Jul, 2024 05:47am
Industry LTA President parts ways with FPCCI Mian Anjum group LAHORE: In a significant development, the President of the Lahore Traders Association, Majahid Maqsood Butt,... Published 04 Jul, 2024 05:47am
Companies AHL joins SLIC as key distribution partner for insurance solutions KARACHI: State Life Insurance Corporation of Pakistan (SLIC) and Arif Habib Limited (AHL) have teamed up in a... Published 04 Jul, 2024 05:47am
Customs’ values on import of ride-on toy cars/bikes from China revised ISLAMABAD: Directorate General of Customs Valuation Karachi has revised Customs values on the import of ride-on toy... Updated 04 Jul, 2024 08:05am
Pakistan long-term partner, but policy is to deny support to its long-range ballistic missile programme: US