Stocks Wall St gains on September rate-cut hopes; Meta soars Wall Street’s main indexes rose on Thursday, lifted by the Federal Reserve’s signals of a September rate cut and a... Published 01 Aug, 2024 08:06pm
Money & Banking World Bank offers roadmap to avoid ‘middle-income trap’ WASHINGTON: More than 100 countries, including China, are at risk of entering a “middle-income trap” and failing to... Published 01 Aug, 2024 07:22pm
Forex SBP-held foreign exchange reserves increase $75mn, now stand at $9.1bn Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $75 million on a weekly basis,... Published 01 Aug, 2024 07:16pm
Stocks Gulf stocks mixed on Middle East tensions, US rate-cut outlook Stock markets in the Gulf ended mixed on Thursday amid tensions in the Middle East following the killing of Hamas... Published 01 Aug, 2024 07:12pm
Commodities Asia rice: India rates climb to six-week peak; Thai prices steady India’s rice export prices rose to their highest level since mid-June this week, while Thailand’s prices were little... Published 01 Aug, 2024 06:12pm
Stocks KSE-100 closes 147 points lower after volatile trading The Pakistan Stock Exchange (PSX) witnessed a negative session on Thursday, as its benchmark KSE-100 closed the... Published 01 Aug, 2024 05:54pm
Money & Banking Bank of England cuts rates from 16-year high, ‘careful’ on future moves LONDON: The Bank of England cut interest rates from a 16-year high on Thursday after a narrow vote in favour from... Published 01 Aug, 2024 05:43pm
Stocks India’s blue-chips log record closing highs on US rate cut prospects BENGALURU: India’s benchmark indexes registered record closing highs on Thursday, boosted by prospects of a U.S.... Published 01 Aug, 2024 05:29pm
Stocks Sri Lanka shares end higher as energy, consumer discretionary gain CSE All-Share index settled 0.29% higher at 11,439.70 Published 01 Aug, 2024 05:27pm
Commodities Copper falls on soft Chinese factory data, higher inventories LONDON: Copper prices retreated on Thursday on worse-than-expected factory data in top metals consumer China and... Published 01 Aug, 2024 05:25pm
Commodities Palm oil falls for second session as firmer ringgit, rival oils weigh JAKARTA: Malaysian palm oil futures dropped for a second consecutive session on Thursday as a stronger ringgit and... Published 01 Aug, 2024 05:23pm
Business & Economy Five Chinese firms bid to help with Pakistan’s Panda Bond issuance ISLAMABAD: Five Chinese firms have placed bids to work on Pakistan’s issuance of Panda Bonds, the South Asian... Published 01 Aug, 2024 05:18pm
Stocks Hascol posts loss of Rs1.74bn in first quarter of 2024 Hascol Petroleum Limited sustained a loss of Rs1.74 billion in the first three months of 2024 (January-March),... Published 01 Aug, 2024 04:56pm
Commodities Gold price per tola increases Rs1,400 in Pakistan Gold prices in Pakistan registered gains on Thursday in line with the increase in the international rate. In the... Published 01 Aug, 2024 04:15pm
Stocks MSCI Index: Pakistan’s weight likely to go up by 35-45bps: Topline Securities Pakistan’s weight is likely to increase in the upcoming Morgan Stanley Capital International (MSCI) Quarterly Index... Published 01 Aug, 2024 03:55pm
Money & Banking Bank Alfalah’s profit jumps 53% in 2QCY24, clocks in at Rs12bn Despite lower net interest income, Bank Alfalah saw its consolidated profit jump to Rs12 billion during the quarter... Published 01 Aug, 2024 03:09pm
Forex Ugandan shilling weaker due to increased commercial bank FX demand KAMPALA: The Ugandan shilling was weaker on Thursday, pressured by strong demand for dollars from commercial banks,... Published 01 Aug, 2024 02:57pm
Business & Economy Pakistan’s headline inflation clocks in at 11.1% in July 2024, lowest since November 2021 Reading lower than official expectations that put figure in range of 12-13% Updated 01 Aug, 2024 05:55pm
Stocks European stock markets open mixed LONDON: Europe’s main stock markets opened mixed Thursday, but London rose as investors awaited a possible... Published 01 Aug, 2024 01:44pm
Bullion Rate Gold scales 2-week high as Fed signals likely Sept rate cut Gold prices hit a two-week high on Thursday as US Federal Reserve Chair Jerome Powell opened the door to cutting... Published 01 Aug, 2024 01:28pm
Forex China’s yuan eases slightly as economic woes remain SHANGHAI: China’s yuan weakened slightly against the US dollar on Thursday, after surging in the previous session in... Published 01 Aug, 2024 01:24pm
Hugo Boss misses Q2 operating profit expectations Hugo Boss reported a 42% drop in second-quarter operating profit on Thursday, below market expectations, two weeks... Published 01 Aug, 2024 01:22pm
Forex Malaysian ringgit hits one-year high; most Asian FX, stocks advance The Malaysian ringgit was on a tear on Thursday amid buoyant emerging Asian currencies, while share markets rose,... Published 01 Aug, 2024 01:17pm
Energy Asia’s crude oil imports drop in July as China stays weak: Russell LAUNCESTON: Asia’s crude oil imports dropped to the lowest in two years in July as demand remained weak in top... Published 01 Aug, 2024 01:14pm
Wizz Air cuts annual forecast after first-quarter profit slumps 44% Wizz Air lowered its annual profit forecast on Thursday after reporting a 44% drop in first-quarter operating... Published 01 Aug, 2024 01:12pm
Shell Q2 profit slides to $6.3bn on weaker trading, refining LONDON: Shell reported a 19% quarter-on-quarter drop in profit to $6.3 billion on Thursday reflecting weaker... Published 01 Aug, 2024 01:08pm
Energy OPEC+ likely to stick to output policy at meeting, sources say LONDON: OPEC+ key ministers meet on Thursday to decide output policy with sources expecting it is unlikely to make... Published 01 Aug, 2024 01:06pm
Commodities Chicago soybeans, corn edge down on ample US supplies, China demand worries BEIJING: Chicago soybean and corn futures eased on Thursday to trade near their lowest since 2020, weighed by ample... Published 01 Aug, 2024 01:04pm
Business & Economy Cannot defer reform agenda anymore, says Aurangzeb Finance minister says state-owned insurance companies should also be handed over to private sector Updated 01 Aug, 2024 09:34pm
Stocks China stocks fall as manufacturing activity shrinks SHANGHAI: China stocks fell on Thursday, following the biggest one-day gain in five months in the previous session,... Published 01 Aug, 2024 12:13pm
Forex Indian rupee edges higher tracking Asian peers, forward premiums rise MUMBAI: The Indian rupee gained slightly on Thursday, tracking strength in its broader Asian peers after remarks... Published 01 Aug, 2024 12:01pm
Exchange Rupee records marginal improvement against US dollar Currency settles at 278.66 against the greenback in the inter-bank market Updated 01 Aug, 2024 06:01pm
China woes cut BMW’s auto profit margin in Q2 BERLIN: BMW on Thursday reported a lower-than-expected profit margin in its core automotive segment during the... Published 01 Aug, 2024 11:34am
Volkswagen’s profit falls as restructuring, costs weigh on first half Volkswagen on Thursday reported a 2.4% drop in its second quarter operating profit as Europe’s top automaker... Published 01 Aug, 2024 11:32am
Daimler Truck orders fall on weakness in Europe and Asia Second-quarter order intake at Daimler Truck fell 5% on the prior year, the firm said on Thursday, with weakening... Published 01 Aug, 2024 11:30am
Toyota posts 17% rise in Q1 operating profit TOKYO: Toyota Motor posted a 17% rise in first-quarter operating profit at 1.3 trillion yen ($8.70 billion) on... Published 01 Aug, 2024 11:22am
Forex Australia, NZ dollars off the floor, bonds build big rally SYDNEY: The Australian and New Zealand dollars steadied above recent lows on Thursday as a sharp fall in US yields... Published 01 Aug, 2024 11:16am
Stocks Australian shares extend gains on mining and energy boost Australian shares rose for a second straight session on Thursday in broad-based buying, with energy and mining... Published 01 Aug, 2024 10:48am
Stocks Asian shares extend global rally, Nikkei an outlier as yen surges SYDNEY: Asian shares rallied on Thursday, tracking a huge revival in global tech stocks helped by Meta and Nvidia,... Published 01 Aug, 2024 10:43am
Stocks India’s Nifty tops 25,000 points to record highs amid Fed-inspired global rally BENGALURU: Indian shares hit all-time highs at the open on Thursday, with the Nifty breaching the 25,000-point mark,... Published 01 Aug, 2024 10:40am
Forex Soft dollar keeps yen aloft as Fed hints rate cuts on the way SINGAPORE: The US dollar on the defensive on Thursday after the Federal Reserve opened the door for an interest rate... Published 01 Aug, 2024 10:35am
Energy Oil prices steady as OPEC sticks to oil policy HOUSTON: Oil prices were little changed on Thursday as investors weighed producer group OPEC+’s decision to keep its... Updated 01 Aug, 2024 07:58pm
Commodities Palm oil falls for second session as firmer ringgit, rival oils weigh JAKARTA: Malaysian palm oil futures dropped for a second consecutive session on Thursday as a stronger ringgit and... Published 01 Aug, 2024 10:28am
Stocks Japanese shares tumble as yen rallies further TOKYO: Japan’s Nikkei share average fell more than 3% in morning trade on Thursday as the yen appreciated further... Published 01 Aug, 2024 10:24am
Steel industry: govt urged to revisit agreements with IPPs ISLAMABAD: Exorbitant power tariffs and imposition of unjustified high-capacity charges have badly affected the ... Published 01 Aug, 2024 07:27am
Saudi budget deficit tops $4bn in Q2 DUBAI: Saudi Arabia’s budget deficit rose to 15.3 billion riyals ($4.09 billion) in the second quarter, almost... Published 01 Aug, 2024 07:27am
‘Textile sector exports struggle amid harsh taxation, high energy costs’ ISLAMABAD: Pakistan’s textile and clothing exports saw a slight increase of 0.93% in FY24, reaching $16.55 billion... Published 01 Aug, 2024 07:27am
SECP releases report titled ‘Insured Pakistan: Pools Dynamics’ ISLAMABAD: To meet the objectives of the Insured Pakistan 5-year Strategic Plan, the Securities and Exchange... Published 01 Aug, 2024 07:21am
China revises drone export controls amid western scrutiny BEIJING: China will amend drone export controls from Sept.1, including adding high-precision measurement equipment ... Published 01 Aug, 2024 06:06am
Industry ‘Meagre’ cut in interest rate termed disappointing KARACHI: United Business Group (UBG) leadership, comprising S M Tanveer, Zubair Tufail, Khalid Tawab, Hanif Gohar,... Published 01 Aug, 2024 06:06am
Energy Petrol price cut by Rs6.17, HSD’s by Rs10.86 ISLAMABAD: The federal government on Wednesday announced to slash the prices of petrol and high-speed diesel (HSD) ... Published 01 Aug, 2024 06:06am
Money & Banking UBS sues Bank of America for $200m over crisis-era mortgage costs NEW YORK: UBS sued Bank of America for $200 million on Wednesday, saying the second-largest US bank refused to cover... Published 01 Aug, 2024 06:06am
WTO chief sees ‘troubling times’ for trade GENEVA: The head of the World Trade Organization on Tuesday said global commerce was going through troubling times,... Published 01 Aug, 2024 06:06am
Govt raises Rs140bn through PIBs auction KARACHI: The federal government on Wednesday raised some Rs 140 billion through the sale of long-term investment... Updated 01 Aug, 2024 08:03am
Companies CCP approves significant steel industry merger ISLAMABAD: The Competition Commission of Pakistan (CCP) has approved a significant merger in the steel industry with... Published 01 Aug, 2024 06:06am
Companies Pak Suzuki begins exporting vehicles KARACHI: Hiroshi Kawamura, CEO of Pak Suzuki, revealed that the company has begun exporting vehicles to Bangladesh... Published 01 Aug, 2024 06:06am
Companies PITB signs accord with Bookme LAHORE: The Punjab Information Technology Board (PITB) and Bookme, an online ticket-booking platform, have signed an... Published 01 Aug, 2024 06:06am
Industry More reduction in interest rate needed: FPCCI leader KARACHI: Chairman of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Advisory Board and ... Published 01 Aug, 2024 06:06am
Industry Hailey College of Commerce: LCCI chief appointed as visiting faculty member LAHORE: Hailey College of Commerce has announced the appointment of the President of Lahore Chamber of Commerce ... Published 01 Aug, 2024 06:06am
Industry NTEF BOGs elect Naveed as Chairman LAHORE: The Board of Governors of National Textile Education Foundation (NTEF) has unanimously elected Naveed Gulzar... Published 01 Aug, 2024 06:06am
Money & Banking BOJ lifts rates, outlines plan to trim bond purchases TOKYO: The Bank of Japan raised interest rates in a mostly unexpected move on Wednesday and unveiled a detailed plan... Published 01 Aug, 2024 06:06am
Companies UPaisa integrated into Bookme to enhance ticket purchasing experience ISLAMABAD: Leading digital financial service platform, UPaisa, has signed a strategic agreement with Bookme,... Published 01 Aug, 2024 06:06am
Companies Jubilee Life and Oladoc partner up KARACHI: Jubilee Life Insurance, Pakistan’s leading life insurance company in the private sector has collaborated... Published 01 Aug, 2024 06:06am
Companies Indus Motor exports ‘Make in Pakistan’ Toyota vehicles KARACHI: In a first, Indus Motor Company (IMC) announced its pioneering export initiative at a ceremony held at the... Published 01 Aug, 2024 06:06am
Money & Banking Mobilink Bank launches women-led incubator programme ISLAMABAD: Pakistan’s leading digital microfinance bank, Mobilink Bank strengthens its commitment to women’s... Published 01 Aug, 2024 06:06am
Money & Banking Yen jumps as BOJ hikes rates NEW YORK: The Japanese yen hit a four-month high against the dollar on Wednesday after the Bank of Japan raised ... Published 01 Aug, 2024 06:06am
Money & Banking Asian currencies: Thai baht, South Korea won lead gains BENGALURU: Emerging Asian currencies and stocks rose on Wednesday, with investors awaiting the US Federal ... Published 01 Aug, 2024 06:06am
SPL posts highest-ever sales, PBT up 55pc KARACHI: Security Papers Limited (SPL) delivered its highest-ever profit, sales and dividend performance, with a... Updated 01 Aug, 2024 06:41am
US Fed keeps key lending rate unchanged WASHINGTON: The US Federal Reserve left its key lending rate unchanged again on Wednesday and said it had made "some... Published 01 Aug, 2024 12:34am
Pakistan long-term partner, but policy is to deny support to its long-range ballistic missile programme: US