News Archives for Business & Finance - 2024-07-15

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Business & Finance - 2024-07-15

Business & Economy

Govt hikes petrol price by Rs9.99, diesel’s by Rs6.18 per litre

Petrol's new rate, applicable from July 16, stands at Rs275.6 per litre

Published 15 Jul, 2024 11:40pm

Energy

Power sector woes: IPP agreements benefit companies but not consumers, Dr Gohar Ejaz says

Former caretaker minister for Commerce and Industries Dr Gohar Ejaz has said that the agreements with the...

Published 15 Jul, 2024 10:23pm

Stocks

Wall Street gains as investors bet on second Trump term

The Dow hit a record high in Wall Street’s upbeat trading on Monday, on a greater chance of presidential candidate...

Published 15 Jul, 2024 08:12pm

Energy

Pakistan Oilfields discovers oil & gas reserves in Attock District

Pakistan Oilfields Limited (POL), an oil and gas exploration company, has discovered hydrocarbon reserves at its...

Published 15 Jul, 2024 08:07pm

Stocks

Major Gulf markets gain on firm oil prices, start to earnings season

Major stock markets in the Gulf ended higher on Monday as oil prices held steady and companies in the region started...

Published 15 Jul, 2024 06:42pm

Money & Banking

Goldman Sachs profits more than double to $2.9bn

NEW YORK: Goldman Sachs reported strong second-quarter results Monday demonstrating robustness across its trading,...

Published 15 Jul, 2024 06:04pm

Forex

Kenyan shilling unchanged versus dollar, LSEG data shows

NAIROBI: Kenya’s shilling was unchanged against the dollar on Monday, LSEG data showed. At 1100 GMT, the shilling...

Published 15 Jul, 2024 05:52pm

Stocks

State-owned firms power Indian stocks to record closing high

BENGALURU: India’s blue-chip indexes logged record closing highs on Monday, led by gains in state-owned companies,...

Published 15 Jul, 2024 05:39pm

Stocks

Sri Lankan shares close higher, led by financial stocks

CSE All Share index rose 0.41% at 11,892.15

Published 15 Jul, 2024 05:05pm

Commodities

China data and inventories weigh on copper

LONDON: Copper prices eased on Monday as weak demand prospects in top consumer China were emphasised by slow...

Published 15 Jul, 2024 05:02pm

Commodities

Palm oil extends losses as rival Dalian, Chicago contracts weaken

KUALA LUMPUR: Malaysian palm oil futures fell for a second consecutive session on Monday, mirroring weakness in...

Published 15 Jul, 2024 04:58pm

Energy

Sri Lanka to cut power prices by 22.5% from Tuesday

COLOMBO: Sri Lanka will cut power prices by 22.5% from Tuesday, the utilities regulator said, as the Indian Ocean...

Published 15 Jul, 2024 03:43pm

Goldman Sachs lowers China 2024 growth forecast to 4.9%

Goldman Sachs on Monday lowered its forecast for China’s 2024 gross domestic product to 4.9% from 5.0% on the back...

Published 15 Jul, 2024 12:39pm

Stocks

Sapphire Fibres expands power portfolio with acquisitions of UCH, UCH-II

Sapphire Fibres Limited (SFL), one of Pakistan’s largest textile manufacturer, has entered into key agreements with...

Updated 15 Jul, 2024 10:46pm

Stocks

European shares slip on earnings drag; Burberry leads losses

European shares opened lower on Monday after a raft of dour updates from companies made investors, already jittery...

Published 15 Jul, 2024 12:34pm

Commodities

Taiwan’s MFIG tenders to buy up to 65,000 metric tons corn

HAMBURG: Taiwan’s MFIG purchasing group has issued an international tender to buy up to 65,000 metric tons of animal...

Published 15 Jul, 2024 12:31pm

Commodities

Iron ore rises to one-week high on China stimulus hopes

SINGAPORE: Iron ore futures prices rose on Monday to their highest in a week, underpinned by growing bets top...

Published 15 Jul, 2024 12:28pm

Forex

Australia, NZ dollars fall as Trump shooting galvanises greenback

SYDNEY: The Australian and New Zealand dollars fell on Monday as the assassination attempt on former US President...

Published 15 Jul, 2024 11:45am

Mutual Funds

Euro zone bonds shrug off Trump shooting, focus on ECB

LONDON: Euro zone government bond yields edged higher on Monday, showing little initial reaction to the attempted...

Published 15 Jul, 2024 11:43am

ECB to opt for summer pause after initial rate cut

FRANKFURT: The European Central Bank is expected to leave interest rates unchanged Thursday, giving the eurozone...

Published 15 Jul, 2024 10:57am

Stocks

Rupee registers marginal gain against US dollar

Currency settles at 278.11 against greenback in inter-bank market

Updated 15 Jul, 2024 08:02pm

Commodities

London copper slips on firmer dollar; China data in focus

BEIJING: Prices of London copper dropped on Monday as the dollar firmed, while investors awaited economic data from...

Published 15 Jul, 2024 10:31am

Commodities

China’s June coal output hits six-month high as safety inspections ease

BEIJING: China’s coal output rose to a six-month high in June, statistics bureau data showed on Monday, notching the...

Published 15 Jul, 2024 10:28am

Stocks

Treasuries slip, dollar firm as markets grapple with US politics

SYDNEY: US bond futures slipped and the dollar firmed on Monday as investors wagered the attack on US presidential...

Published 15 Jul, 2024 10:21am

Mutual Funds

Indian bond yields may see uptick as local inflation rises

MUMBAI: Indian government bond yields are expected to open marginally higher on Monday after stronger-than-expected...

Published 15 Jul, 2024 10:18am

Commodities

China June aluminium output climbs on higher profits

BEIJING: China’s production of primary aluminium in June rose 6.2% from a year earlier, data showed on Monday, as...

Published 15 Jul, 2024 10:17am

Forex

Indian rupee likely to inch up despite weakness in Asian peers

MUMBAI: The Indian rupee is likely to open marginally higher on Monday, shrugging off the decline in Asian peers...

Published 15 Jul, 2024 10:15am

Stocks

Market cheers IMF bailout, KSE-100 gains over 1,200 points

Investors see staff-level agreement with lender as massive positive for struggling economy

Updated 15 Jul, 2024 10:36pm

Bullion Rate

Gold eases, investors seek more cues on Fed’s rate path

Gold prices dipped on Monday as the dollar held firm, while investors awaited comments from Federal Reserve...

Published 15 Jul, 2024 10:13am

Forex

China’s yuan slips from month high after weaker-than-forecast GDP

SHANGHAI: China’s yuan weakened on Monday from a one-month high against the dollar hit in the previous session,...

Published 15 Jul, 2024 10:10am

Commodities

Wheat drops to lowest in more than three months on supply pressure

SINGAPORE: Chicago wheat lost more ground on Monday, with prices dropping to their lowest levels in three-and-half...

Published 15 Jul, 2024 10:06am

Energy

China’s refinery output at 6-month low as weak fuel demand hurts

SINGAPORE: China’s refinery output fell 3.7% in June from a year earlier, official data showed on Monday, down for a...

Published 15 Jul, 2024 10:04am

Commodities

Malaysia palm oil futures seen averaging 3,850-4,000 ringgit/ton, industry body says

KUALA LUMPUR: Malaysia’s benchmark crude palm oil futures are expected to average between 3,850 ringgit and 4,000...

Published 15 Jul, 2024 10:02am

Indonesia’s exports up 1.2% y/y in June

JAKARTA: Indonesia’s exports in June rose 1.17% on a yearly basis to $20.84 billion, less than market forecasts,...

Published 15 Jul, 2024 09:59am

Stocks

Australian shares hit record high as banks and miners gain

Australian stocks rose to an all-time high on Monday, helped by gains in index heavyweights banks and miners, while...

Published 15 Jul, 2024 09:56am

Stocks

IT stocks power India’s Nifty 50 to record highs at the open

BENGALURU: India’s blue-chip Nifty 50 rose to record highs on Monday led by information technology stocks after...

Published 15 Jul, 2024 09:54am

Forex

Dollar buoyed by safe-haven gains; sliding yen on intervention watch

SINGAPORE: The dollar rose on safety bids on Monday in the wake of the attempted assassination of former US...

Published 15 Jul, 2024 09:52am

Energy

Oil holds its ground as Chinese demand concerns weigh

LONDON: Oil held its ground on Monday as downward pressure from concern about demand in top importer China offset...

Updated 15 Jul, 2024 07:41pm

Bitcoin soars to two-week high after Trump attack

SINGAPORE: Bitcoin surged to a two-week high on Monday after the attempted assassination of US presidential...

Published 15 Jul, 2024 09:47am

TDCP generates over Rs467m thru Patriata chairlift in FY24

LAHORE: The Tourism Development Corporation of Punjab (TDCP) successfully earned over Rs 467 million in the fiscal...

Published 15 Jul, 2024 07:40am

Energy

Progress of Spat Gah power project reviewed

PESHAWAR: Secretary Energy and Power Nisar Ahmad Khan called foreign investment as a milestone in the coming days...

Published 15 Jul, 2024 07:26am

Energy

Hike in prices of solar-powered inverters expected

LAHORE: Excessive panel imports have encouraged aggressive solar power system installations by consumers across the...

Published 15 Jul, 2024 07:22am

Industry

KP mulling establishing furniture-specific industrial zone

PESHAWAR: The provincial government of Khyber Pakhtunkhwa is going to establish a modern industrial zone for making...

Published 15 Jul, 2024 07:19am

Ambassador highlights potential of CBD Punjab’s projects

LAHORE: The newly appointed Pakistani Ambassador to US Rizwan Saeed Sheikh visited Punjab Central Business District...

Published 15 Jul, 2024 07:15am

Money & Banking

Australian dollar sails to six-month top as kiwi sinks

SYDNEY: The Australian dollar held near six-month peaks on Friday as markets sharply narrowed the odds on US rate...

Published 15 Jul, 2024 06:59am

Money & Banking

Sterling heads for best 2-week run since Nov

LONDON: The pound coursed towards its best two-week performance against the dollar in eight months on Friday, after...

Published 15 Jul, 2024 06:58am

Money & Banking

China’s yuan eases

SHANGHAI: China’s yuan eased on Friday after strengthening to a one-month high, as the central bank set a mild...

Published 15 Jul, 2024 06:57am

FBR asked to bring all hidden issues before PM immediately

ISLAMABAD: Prime Minister Shehbaz Sharif has directed the Federal Board of Revenue (FBR) to immediately bring all...

Updated 15 Jul, 2024 09:23am

Energy

Reactivating Neelum-Jhelum hydropower project: PM orders formation of body on urgent basis

ISLAMABAD: The closure of Neelum-Jhelum Hydropower Project is causing a loss of millions of rupees to the national...

Published 15 Jul, 2024 06:25am

Swiss authorities draw flak in Credit Suisse probe: report

ZURICH: Preliminary findings in an eagerly awaited parliamentary report into the 2023 collapse of Credit Suisse have...

Published 15 Jul, 2024 06:25am

Agriculture and Allied

Workshop on capacity building held for agri inputs dealers

PESHAWAR: The USAID’s Economic Recovery and Development Activity (ERDA) organised a one-day workshop for the...

Published 15 Jul, 2024 06:25am

Chinese investors call on Gandapur

PESHAWAR: A delegation of Chinese private sector Investment Company called on Chief Minister Khyber Pakhtunkhwa...

Published 15 Jul, 2024 06:25am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Sep 13	278.30
USD PKR Interbank Buying / Sep 13	278.03
USD to Japanese Yen / Sep 13	140.67
USD to Swiss Franc / Sep 13	0.85
Pound Sterling to USD / Sep 13	1.31
Euro to USD / Sep 13	1.11

Stock	Volume
S&P 500 / Sep 12	5,595.76
Nasdaq / Sep 12	17,569.68
Dow Jones / Sep 12	41,096.77
India Sensex / Sep 13	82,936.88
Tokyo Nikkei / Sep 13	36,581.76
Hang Seng / Sep 13	17,369.09
FTSE 100 / Sep 13	8,245.43
Germany DAX 30 / Sep 13	18,586.44

Item	Value
Karachi Cotton PKR/37.32 KG / Sep 12	18,735
Gold 10 Grams PKR / Sep 12	225,480
Petrol/Litre / Sep 13	259.10
Crude Oil USD/Barrel / Sep 13	69.49
Gold Spot USD/Ounce / Sep 13	2,568.28
Diesel/Litre / Sep 13	262.75

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Sep 13 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Sep 13 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Sep 13 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Sep 13 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Sep 13 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Sep 13 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Sep 13 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Sep 13 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Sep 13 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Sep 13 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Sep 13 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Sep 13 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Sep 13 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Sep 13 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Sep 13 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Sep 13 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Sep 13 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Sep 13 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Sep 13 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Sep 13 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Sep 13 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Sep 13 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Sep 13 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Sep 13 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Sep 13 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Sep 13 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Sep 13 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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