News Archives for Business & Finance - 2024-08-27

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Business & Finance - 2024-08-27

Two Pakistani startups included in Forbes Asia 100 to Watch 2024 list

Two Pakistani startups, DealCart and NayaPay, have made their way to the Forbes list of Asia 100 To Watch 2024....

Published 27 Aug, 2024 10:54pm

Taxes

FBR says no plans to offer amnesty scheme to legalise smuggled vehicles

The Federal Board of Revenue (FBR) has clarified that there are no plans to offer an amnesty scheme for regularizing...

Published 27 Aug, 2024 10:28pm

Moody’s warns of significant ratings impact for Israel from all-out conflict

LONDON: An all-out military conflict with Hezbollah or Iran could have significant “credit consequences” for Israeli...

Updated 27 Aug, 2024 11:01pm

Industry

Federal cabinet approves merger, dissolution of 82 SOEs

PM Shehbaz constitutes committee to protect interests of employees to be affected, Ministry of Information and Broadcasting says

Published 27 Aug, 2024 10:05pm

Stocks

Wall St drops on caution ahead of Nvidia results, economic data

Wall Street’s main indexes were lower on Tuesday, weighed down by tech-related stocks, as caution prevailed ahead of...

Published 27 Aug, 2024 07:31pm

Stocks

Most Gulf markets ease on regional tensions

Most stock markets in the Gulf ended lower on Tuesday on rising tensions in the Middle East, although looming U.S....

Published 27 Aug, 2024 06:44pm

Stocks

KSE-100 loses another 487 points as participants jittery over IMF programme

The Pakistan Stock Exchange (PSX) witnessed a bearish session for the second consecutive day on Tuesday, as its...

Published 27 Aug, 2024 06:11pm

Stocks

Energy, financial stocks weigh on Sri Lankan shares

CSE All-Share index settled 0.95% lower at 11,093.48 points

Published 27 Aug, 2024 05:58pm

Companies

Sony, India’s Zee settle dispute over scrapped $10bn merger

BENGALURU: India’s Zee Entertainment Enterprises and Sony’s unit in the country have agreed to withdraw all claims...

Published 27 Aug, 2024 04:53pm

Stocks

Indian shares settle flat as financials offset losses in energy, consumer stocks

BENGALURU: Indian shares were largely unchanged on Tuesday as a rise in financials offset a drop in energy and...

Published 27 Aug, 2024 04:32pm

Commodities

Copper powers to almost six-week high on US rate cut hopes

LONDON: Copper prices rose to their highest in nearly six weeks on Tuesday, with buying triggered by expectations of...

Published 27 Aug, 2024 04:29pm

Commodities

Palm oil snaps four-day rally on global demand uncertainties

SINGAPORE: Malaysian palm oil futures reversed early gains on Tuesday to end a four-session climb, as investors...

Published 27 Aug, 2024 04:26pm

Business & Economy

Pakistan aims to secure $4bn from Middle Eastern banks by FY26: SBP governor

Jameel Ahmad says Pakistan is in 'advanced stages' of securing $2 billion in additional external financing required for IMF executive board approval

Updated 27 Aug, 2024 10:18pm

Companies

Standard Chartered Pakistan’s profit marginally up YoY in 2QCY24

Standard Chartered Bank (Pakistan) Limited (SCBPL), a subsidiary of Standard Chartered Plc, posted earnings of...

Published 27 Aug, 2024 03:30pm

Companies

Bawany Air Products says will raise Rs6bn through rights issue

Bawany Air Products Limited (BAPL) said on Tuesday it will raise Rs6 billion through a rights issue of nearly 600...

Published 27 Aug, 2024 02:37pm

Stocks

Miners, energy shares drive FTSE 100 higher; Bunzl hits record high

UK’s benchmark FTSE 100 stock index jumped on Tuesday led by miners and energy shares, as copper prices touched a...

Published 27 Aug, 2024 02:34pm

Companies

PSO’s profit doubles, clocks in at Rs19.6bn in FY24

Pakistan State Oil Company Limited’s (PSO) profit-after-tax (PAT) doubled, clocking in at Rs19.65 billion for the...

Updated 27 Aug, 2024 05:54pm

Forex

Russian rouble strengthens as exporters sell foreign currencies

MOSCOW: The Russian rouble strengthened against the US dollar on Tuesday, supported by foreign currency sales by...

Published 27 Aug, 2024 02:26pm

Forex

Kenyan shilling steady as diaspora FX inflows match demand

NAIROBI: The Kenyan shilling was steady on Tuesday, with foreign exchange inflows from the diaspora matching muted...

Published 27 Aug, 2024 02:24pm

Stocks

Most Gulf markets slip on regional tensions; Dubai gains

Most major stock markets in the Gulf fell in early trade on Tuesday on rising tensions in the Middle East, although...

Published 27 Aug, 2024 01:51pm

Stocks

European shares edge higher as miners support

European shares inched higher on Tuesday following a subdued start to the week, supported by heavyweight miners,...

Published 27 Aug, 2024 01:26pm

Bullion Rate

Gold holds above $2,500/oz level on Fed optimism, Middle East concerns

Gold prices were little changed on Tuesday, but held above the $2,500 per-ounce psychological level on investor...

Published 27 Aug, 2024 01:24pm

Money & Banking

JS Bank records 678% jump in consolidated profit in 2QCY24

JS Bank Limited (JSBL) posted massive earnings of Rs5.5 billion during the quarter ending June 30, 2024, up over...

Published 27 Aug, 2024 01:14pm

Commodities

Palm oil extends gains on Indonesia supply outlook, biodiesel plan

SINGAPORE: Malaysian palm oil futures rose for a fifth consecutive day on Tuesday, sustaining its longest rally in...

Published 27 Aug, 2024 01:13pm

Toyota and BMW to upgrade fuel cell alliance, Nikkei Asia says

TOKYO: Toyota Motor Corp and BMW will upgrade their partnership in fuel cell vehicles, Nikkei Asia reported on...

Published 27 Aug, 2024 12:14pm

Stocks

China stocks slip on tariffs, e-commerce warning

SINGAPORE: Chinese stock markets fell on Tuesday, with Canadian tariffs weighing on shares in electric vehicle and...

Published 27 Aug, 2024 12:12pm

China’s BYD to use Huawei’s advanced autonomous driving system in off-road EVs

BEIJING: Chinese electric vehicle (EV) giant BYD has signed an agreement with Huawei to use the Chinese tech...

Published 27 Aug, 2024 12:10pm

Forex

Rupee registers minor gain against US dollar

Currency settles at 278.32 against the greenback in inter-bank market

Updated 27 Aug, 2024 10:15pm

Mutual Funds

India bond yields drift higher ahead of state debt supply

MUMBAI: Indian government bond yields edged higher early in the session on Tuesday, as traders braced for...

Published 27 Aug, 2024 10:55am

Forex

Indian rupee to wrestle with weak Asian leads, jump in oil prices

MUMBAI: The Indian rupee is expected to largely struggle on Tuesday amid a decline Asian currencies, weak risk...

Published 27 Aug, 2024 10:53am

Stocks

Asian stocks slide as geopolitical worries sap confidence

SINGAPORE: Asian stocks fell on Tuesday as investors pondered looming US interest rate cuts and awaited earnings...

Published 27 Aug, 2024 10:43am

Commodities

Corn ticks up on bargain-buying but stays close to four-year low

SINGAPORE: Chicago corn futures were largely unchanged on Tuesday, with the market trading near previous session’s...

Published 27 Aug, 2024 10:40am

Forex

Australian dollar rally pauses ahead of inflation data

SYDNEY: The Australian dollar paused its rally on Tuesday ahead of domestic inflation data that is shaping up to be...

Published 27 Aug, 2024 10:35am

Stocks

Japan’s Nikkei slips as tech losses weigh; softer yen buoys exports

TOKYO: Japan’s Nikkei share average dipped in morning trade on Tuesday, as domestic technology shares followed...

Published 27 Aug, 2024 10:26am

Stocks

Australian shares rise as BHP Group, Woodside Energy shine on upbeat earnings

Australian shares advanced on Tuesday, led by mining and energy stocks after sector majors BHP Group and Woodside...

Published 27 Aug, 2024 10:25am

Stocks

Indian shares likely to open little changed

BENGALURU: Indian shares are likely to open little changed on Tuesday with traders expecting profit booking as the...

Published 27 Aug, 2024 10:23am

Forex

Currencies tread water as Middle East risks temper rate cut optimism

SINGAPORE: The dollar edged higher on Tuesday and major currencies traded sideways as lingering concerns over...

Published 27 Aug, 2024 10:10am

Energy

Oil slips after surge on Libyan outages and Middle East risk

LONDON: Oil prices slipped slightly on Tuesday after rebounding more than 7% over the previous three sessions on...

Updated 27 Aug, 2024 04:37pm

Industry

Iranian CG visits LCCI

LAHORE: A high-powered Iranian delegation, led by Consul General of Iran Mehran Movahedfar, visited the Lahore...

Published 27 Aug, 2024 07:57am

Companies

HBL H1’24 PBT rises to Rs57.8bn, an increase of 12pc YoY

KARACHI: HBL on Monday declared a consolidated profit before tax of Rs 57.8 billion for the first half of 2024, 12...

Published 27 Aug, 2024 07:54am

Industry

BMP, PIAF announce support to planned shutter-down strike

LAHORE: Warning the government of a countrywide shutter-down strike, the Federation of Pakistan Chambers of ...

Published 27 Aug, 2024 07:26am

Taxes

Sales tax returns: KTBA seeks e-filing deadline extension

KARACHI: Karachi Tax Bar Association (KTBA) has requested the Federal Board of Revenue (FBR) to extend the date of...