China property giant Evergrande seeks to recover $6 bn BEIJING: China's heavily indebted real estate giant Evergrande said Monday that it and its liquidators were seeking... Published 05 Aug, 2024 10:13pm
Stocks Global rout: Pakistan’s local participation component is likely to help avert wider selloff Fear of the US falling into recession after weak economic data last week triggered panic across global markets with... Updated 05 Aug, 2024 10:49pm
Business & Economy US firm presents Aurangzeb proposal to streamline regulatory system in Pakistan Federal Minister for Finance and Revenue Muhammad Aurangzeb held a meeting with Scott Jacobs, the Managing Director... Updated 05 Aug, 2024 06:34pm
Forex Rupee sees marginal decline against US dollar Currency settles at 278.63 in inter-bank market Updated 05 Aug, 2024 06:44pm
Companies Indus Motor again temporarily shuts production citing low inventory Indus Motor Company Limited (IMC), the assembler/manufacturer of Toyota-brand vehicles in Pakistan, again said it... Published 05 Aug, 2024 03:32pm
Bullion Rate Gold price per tola decreases Rs300 in Pakistan Gold prices in Pakistan continued to decline on Monday, in line with a decrease in international rates. In the local... Published 05 Aug, 2024 01:47pm
Stocks European stocks hit near six-month low on US recession fears European shares tumbled to a near six-month low at the start of the week amid a global sell-off in equities on fears... Published 05 Aug, 2024 01:25pm
Forex South African rand, stocks sink as US recession fears hit riskier assets JOHANNESBURG: South African stocks and the rand sank in early trade on Monday as global investor sentiment soured... Published 05 Aug, 2024 01:21pm
Stocks London’s FTSE 100 drops as U.S. recession fears spark global sell-off London’s FTSE 100 plunged over 1.5% on Monday to hit their lowest in over three months, as recession fears in the... Published 05 Aug, 2024 01:19pm
Forex Kenyan shilling strengthens with expected gains from tea sector FX inflows NAIROBI: Kenya’s shilling firmed slightly in early trade on Monday and it was expected to strengthen further,... Published 05 Aug, 2024 01:16pm
Stocks Gulf markets slide on US recession fears, regional tensions Major stock markets in the Gulf tumbled on Monday, tracking Asian shares lower on fears that the United States could... Published 05 Aug, 2024 01:13pm
Commodities Palm oil declines as weaker crude oil, firmer ringgit weighs KUALA LUMPUR: Malaysian palm oil futures fell on Monday, as weaker crude oil prices and a stronger ringgit weighed... Published 05 Aug, 2024 12:20pm
Forex Indian rupee ends at record low as US growth worries spill over, spur outflows MUMBAI: The Indian rupee closed at its weakest level on record on Monday pressured by likely outflows from local... Updated 05 Aug, 2024 03:29pm
Stocks Taiwan stocks fall by record 8.4% on tech sector fears, exchange to brief media TAIPEI: Taiwan stocks ended down 8.4% on Monday, a record slump, with tech stocks including TSMC plunging as... Published 05 Aug, 2024 12:11pm
Stocks Selling pressure at PSX, KSE-100 loses 1,141 points Selling pressure was witnessed at the Pakistan Stock Exchange (PSX) as the benchmark KSE-100 Index lost 1,141 points... Updated 05 Aug, 2024 07:19pm
Money & Banking Societe Generale to sell two units to Swiss bank UBP for 900mn euros PARIS: French banking giant Societe Generale said Monday it was selling two subsidiaries – one in Britain and the... Published 05 Aug, 2024 11:43am
Stocks Asian stocks tank after US data fans recession fears HONG KONG: Tokyo led a collapse across Asian equities Monday, while the yen hit a six-month high after weak US jobs... Published 05 Aug, 2024 11:40am
Commodities Japan rubber futures hit over one-week high on weather concerns SINGAPORE: Japanese rubber futures hit a more than one-week high on Monday, buoyed by adverse weather woes in top... Published 05 Aug, 2024 11:31am
Forex Bitcoin, ether sink to multi-month lows as recession worries take hold Bitcoin and ether tumbled on Monday to multi-month lows as worries over a possible U.S. recession in the wake of... Published 05 Aug, 2024 11:22am
Forex Australia, NZ dollars struggle amid flight to safety; bonds rally SYDNEY: The Australian and New Zealand dollars started the week on the back foot after weak U.S. jobs data magnified... Published 05 Aug, 2024 11:17am
Commodities Iron ore hits two-week high on improved Chinese economic outlook SINGAPORE: Iron ore futures prices hit a two-week high on Monday, buoyed by an improved Chinese economic outlook... Published 05 Aug, 2024 11:09am
Forex China’s yuan leaps to 7-month high, led by stronger yen, unwinding of carry trade SHANGHAI: China’s yuan leapt to a seven-month high against the dollar on Monday, boosted by a stronger Japanese yen... Published 05 Aug, 2024 11:06am
Financial JGB yields sink on US recession fears, BOJ rate path questions TOKYO: Japanese government bond (JGB) yields sank on Monday, following a decline in U.S. yields amid concerns of a... Published 05 Aug, 2024 11:01am
Commodities London copper climbs on China data, Fed rate-cut prospects BEIJING: Prices of copper and other metals in London kicked off the week higher on Monday, following data showing... Published 05 Aug, 2024 10:57am
Commodities Gold prices flat as profit-taking counters US rate outlook Prices of safe-haven gold were flat on Monday as some profit-taking partially offset support from U.S. recession... Published 05 Aug, 2024 10:44am
Stocks Australia shares slump more than 3% as US recession worries trigger sell-off Australian shares slumped more than 3% in their worst trading session in over two years on Monday, joining a global... Updated 05 Aug, 2024 12:14pm
Stocks Tokyo’s Nikkei dives 12.4%, suffers record points loss TOKYO: Tokyo stocks sank more than 12 percent Monday, battered by a resurgent yen and weak US jobs data that fuelled... Updated 05 Aug, 2024 11:37am
Stocks China stocks buck global sell-off as services activity rises; Hong Kong slips SHANGHAI: China stocks edged up on Monday after data showed growth in the country’s services activity accelerated in... Published 05 Aug, 2024 10:33am
Stocks Indian shares log worst day in two months on US recession fears BENGALURU: Indian shares tumbled more than 2.5% on Monday, in their steepest drop in two months amid a global... Updated 05 Aug, 2024 04:02pm
Stocks South Korean shares trigger trading curb for first time since 2020 amid tech rout SEOUL: South Korean shares fell for a second straight session on Monday, with trading curbs activated for the first... Published 05 Aug, 2024 10:28am
Energy Oil drops as US recession fears spark broader selloff HOUSTON: Oil fell on Monday, trailing a stock market selloff sparked by fears of a U.S. recession, though declines... Updated 05 Aug, 2024 08:34pm
Forex Yen rises to 7-month highs as US slowdown fears spill over SINGAPORE: Japan’s yen hit its highest levels against the dollar since January on Monday, as marketsextended moves... Published 05 Aug, 2024 10:22am
Industry Permanent employment termed workers’ fundamental right KARACHI: At the conclusion of a three-day protest camp held at Karachi Press Club against the contractual system,... Published 05 Aug, 2024 08:26am
Taxes Tax refunds to large taxpayer companies: FIA issues another notice to Member IR (Operation) ISLAMABAD: Federal Investigation Agency (FIA) has issued another notice to Mir Badshah Khan Wazir Member Inland... Published 05 Aug, 2024 08:24am
Sri Lanka needs to raise fiscal revenue to maintain stability: IMF COLOMBO: Sri Lanka must make further efforts to raise fiscal revenue if it is to maintain economic stability and... Published 05 Aug, 2024 07:59am
GPCCI, BVMW sign MoU to enhance business ties PESHAWAR: The German Pakistan Chamber of Commerce and Industry (GPCCI) and the German Association of Small and ... Published 05 Aug, 2024 07:15am
MENA Journey from Hyderabad to Dubai: Badami’s auto parts company is now a global player KARACHI: Born in Hyderabad, Sindh, Asad Badami is now the Managing Director of Al-Mukarram Auto Parts (A-MAP), a... Updated 05 Aug, 2024 10:29am
‘My Karachi Exhibition’ concludes: Efforts afoot to overcome economic challenges: minister KARACHI: Federal Minister for Maritime Affairs Qaiser Shaikh had said that people participated in the My Karachi... Published 05 Aug, 2024 06:12am
Musk says Fed foolish not to have cut rates NEW YORK: Billionaire Elon Musk said on Sunday the Federal Reserve needs to cut interest rates and that it was... Published 05 Aug, 2024 06:12am
Money & Banking Yuan strengthens against dollar SHANGHAI: China’s yuan strengthened against the US dollar on Friday and looked set for a second consecutive week ... Published 05 Aug, 2024 06:12am
KP-BoIT, TDAP to hold investment conference at Chitral PESHAWAR: Khyber Pakhtunkhwa Board of Investment & Trade (KP-BoIT) in collaboration with Trade Development... Published 05 Aug, 2024 06:12am
German economy unexpectedly shrinks in second quarter FRANKFURT: The German economy unexpectedly shrank in the second quarter, preliminary data showed Tuesday, falling... Updated 05 Aug, 2024 07:32am
Companies Byju avoids bankruptcy MUMBAI: An Indian appeals tribunal stopped bankruptcy proceedings against troubled educational technology firm Byju... Updated 05 Aug, 2024 07:34am
China issues plan to boost household consumption BEIJING: China has issued a set of directives aimed at boosting household consumption, a weakness weighing on growth... Updated 05 Aug, 2024 08:01am