Money & Banking Bank of Canada cuts rates for third time in a row, frets over weak growth OTTAWA: The Bank of Canada on Wednesday cut its key policy rate by 25 basis points to 4.25% as forecast but... Published 04 Sep, 2024 09:07pm
Money & Banking Fed rate-cut size this month to hinge on job market health Federal Reserve policymakers are increasingly attentive to the U.S. labor market as they prepare for a... Published 04 Sep, 2024 09:00pm
US trade deficit widest in two years on imports surge WASHINGTON: The US trade deficit in July expanded to its largest since mid-2022, according to government data... Published 04 Sep, 2024 08:03pm
Stocks KSE-100 gains as Aurangzeb’s IMF-related remarks generate positivity The Pakistan Stock Exchange (PSX) witnessed a bullish sentiment on Wednesday as its benchmark KSE-100 rallied 492... Updated 04 Sep, 2024 09:23pm
Companies Chakwal Spinning (CLOUD) refutes inside trading reports even as share price shoots Chakwal Spinning Mills Limited (CLOUD) has claimed that reports around the company’s management being involved in... Updated 04 Sep, 2024 10:17pm
Business & Economy Coke, Pepsi boycott over Gaza lifts Pakistan, other countries’ local brands Restaurants, Karachi's private schools association and university students have all taken part in anti-Coca-Cola actions Updated 04 Sep, 2024 11:50pm
IMF mission starts fifth review of Ukraine program as Kyiv reshuffles government KYIV: An International Monetary Fund mission began work on Wednesday on the fifth review of its $15.6 billion... Published 04 Sep, 2024 02:57pm
Stocks European shares slump on risk-off mood after US selloff European stocks hit a two-week low on Wednesday, as global markets were rattled by concerns of an imminent slowdown... Published 04 Sep, 2024 02:54pm
Forex Russian rouble weakens versus US dollar on falling oil MOSCOW: The Russian rouble lost some of its previous day’s gains against the US dollar on Wednesday as oil prices... Published 04 Sep, 2024 02:51pm
Forex Ugandan shilling to firm due to dollar inflows into bond auction KAMPALA: The Ugandan shilling was little-changed on Wednesday and was expected to strengthen due to dollar inflows... Published 04 Sep, 2024 02:49pm
Commodities Japan to seek 65,000 tons of feed wheat and 25,000 tons barley via tender TOKYO: Japan’s Ministry of Agriculture, Forestry and Fisheries (MAFF) said on Wednesday that it will seek 65,000... Published 04 Sep, 2024 02:48pm
Business & Economy Aurangzeb engages with J.P. Morgan on investment opportunities in Pakistan High-level huddle discusses interests of institutional investors exploring fixed-income investment opportunities in Pakistan Updated 04 Sep, 2024 09:18pm
Commodities Gold price per tola decreases Rs1,400 in Pakistan Gold prices in Pakistan declined for the second consecutive session on Wednesday in line with the decrease in the... Updated 04 Sep, 2024 05:32pm
Stocks UK’s FTSE 100 hits three-week low as US economic worries dent risk sentiment UK’s main stock index hit a three-week low on Wednesday amid a broad-based decline, after concerns over US economic... Published 04 Sep, 2024 01:52pm
Companies Cathay races to repair Airbus fleet HONG KONG: Cathay Pacific raced Wednesday to replace a faulty engine part that has forced it to ground its A350... Published 04 Sep, 2024 11:58am
Swedish telecoms operator Telia says to cut 3,000 jobs STOCKHOLM: Swedish telecoms operator Telia said Wednesday it will cut 3,000 jobs as part of a cost-cutting drive... Published 04 Sep, 2024 11:56am
Commodities Soybeans steady after China’s plans to probe Canadian canola lift prices CANBERRA: Chicago soybean futures eased slightly on Wednesday, after rising sharply in the previous session as... Published 04 Sep, 2024 11:41am
Forex Australia, NZ dollars on defensive as risk assets hammered SYDNEY: The Australian and New Zealand dollars were on the defensive on Wednesday as a sell off on Wall Street... Published 04 Sep, 2024 11:37am
Commodities Palm oil opens lower on China’s anti-dumping probe, fall in Indian imports JAKARTA: Malaysian palm oil futures opened down on Wednesday, after China announced it would start an anti-dumping... Published 04 Sep, 2024 11:34am
Forex China’s yuan firms with dollar steady, eyes on US payrolls SHANGHAI: China’s yuan firmed on Wednesday as the US dollar stabilised after climbing to a two-week high, as traders... Published 04 Sep, 2024 11:32am
Commodities Dalian iron ore at more than two-week low on softer China data, weakening steel sector SINGAPORE: Prices of Dalian iron ore futures extended declines on Wednesday to touch their lowest in over two weeks,... Published 04 Sep, 2024 11:26am
Energy UAE non-oil business activity growth rebounds in August, PMI shows DUBAI: Growth in the United Arab Emirates’ non-oil private sector rebounded in August after expanding at its slowest... Published 04 Sep, 2024 11:21am
Commodities London copper inches up after sell-off, demand pickup hopes BEIJING: London copper prices inched higher on Wednesday, supported by dip-buying after the market sank to a... Published 04 Sep, 2024 11:19am
Companies BF Biosciences enters into agreement with Lucky Core Industries Pakistan’s pharmaceutical company BF Biosciences Limited (BFBL) has entered into a contract manufacturing and supply... Updated 04 Sep, 2024 09:11pm
Companies Volkswagen goes head-to-head with workforce over proposed company cuts BERLIN: Volkswagen management will face a tense and fearful workforce at a meeting in its headquarters on Wednesday... Published 04 Sep, 2024 11:05am
Australia economy stuck in slow lane, household spending drags SYDNEY: Australia’s economy stayed stuck in the slow lane in the June quarter as punishing borrowing costs and... Published 04 Sep, 2024 11:01am
Stocks China stocks slip tracking Wall Street tech sell off HONG KONG: China and Hong Kong shares dropped in early trade on Wednesday, tracking a sell-off in technology sector... Published 04 Sep, 2024 10:59am
Forex Indian rupee to remain mired near all-time low on global risk aversion MUMBAI: The Indian rupee is expected to hold near lifetime lows on Wednesday amid a selloff in risk assets on... Published 04 Sep, 2024 10:58am
Energy Philippines’ First Gen seeks LNG cargo for October delivery SINGAPORE: Philippine power producer First Gen Corp has issued a tender seeking a cargo of liquefied natural gas... Published 04 Sep, 2024 10:53am
Stocks Indian shares set to open lower as traders brace for US data BENGALURU: India’s benchmark indexes are likely to open lower on Wednesday, tracking a drop in Asian shares, on... Published 04 Sep, 2024 10:51am
Mutual Funds Indian bond yields seen slightly lower but major focus on US data MUMBAI: Indian government bond yields are expected to open marginally lower on Wednesday, tracking a fall in US... Published 04 Sep, 2024 10:49am
Stocks Australia shares fall amid broad-based sell off; GDP data in focus Australian shares slid on Wednesday in a broad-based sell off, as lacklustre data from the US dampened market... Published 04 Sep, 2024 10:47am
Stocks Japan’s Nikkei closes down more than 4% after Wall Street drop TOKYO: Japan’s key Nikkei index dived more than four percent on Wednesday, weighed down by falls on Wall Street and... Updated 04 Sep, 2024 11:51am
Bullion Rate Gold holds steady as US payrolls data grabs limelight Gold prices held steady on Wednesday as investors braced for a monthly US payrolls report that could influence how... Published 04 Sep, 2024 10:33am
Mutual Funds JGB yields slide in step with US peers; jobs report in focus TOKYO: Japanese government bond yields declined on Wednesday as US Treasury yields fell, while investors weighed the... Published 04 Sep, 2024 10:31am
Stocks Stocks, oil slide as growth worries resurface SINGAPORE: Asian shares and global stock futures tumbled on Wednesday while oil prices hit multi-month lows as a... Published 04 Sep, 2024 10:30am
Currency Rupee registers marginal decline against US dollar Currency settles at 278.77 against the greenback in inter-bank market Updated 04 Sep, 2024 10:17pm
Forex Safe-haven yen rallies, Aussie sinks as markets brace for US payrolls test TOKYO: The safe-haven Japanese yen rallied on Wednesday while riskier currencies like the Australian dollar and... Published 04 Sep, 2024 10:03am
Energy Brent crude falls $1/bbl on demand fears HOUSTON: Brent crude oil prices fell by $1 a barrel to $72.75 on Wednesday because of pessimism about demand in the... Updated 04 Sep, 2024 09:03pm
Taxes FPCCI says against any further increase in taxes KARACHI: Atif Ikram Sheikh, President FPCCI, has unequivocally stated that FPCCI vociferously opposed any further... Published 04 Sep, 2024 08:18am
Industry President KCCI inaugurates IFTECH Pakistan, Plasti & Pack Pakistan exhibition KARACHI: President Karachi Chamber of Commerce & Industry (KCCI), Iftikhar Ahmed Sheikh, inaugurated the 19th... Published 04 Sep, 2024 08:16am
Companies NBP and myZoi to enable financial inclusion KARACHI: National Bank of Pakistan (NBP) is proud to announce a strategic partnership with myZoi Financial Inclusion... Published 04 Sep, 2024 08:13am
China, South Africa agree to seek balanced trade, more investments BEIJING: China and South Africa, whose top leaders met in Beijing, agreed to promote balanced trade and discussed... Published 04 Sep, 2024 08:04am
Industry US manufacturing mired in weakness; construction spending falls WASHINGTON: US manufacturing contracted at a moderate pace in August amid some improvement in employment, but a... Published 04 Sep, 2024 07:59am
Taxes FBR digitalization: PM sets up 10-member task force KARACHI: In a move to modernize the country’s tax system, Prime Minister Shahbaz Sharif has formed a task force... Published 04 Sep, 2024 07:50am
Taxes FBR suspends officials found ‘involved’ in refund scam ISLAMABAD: The Federal Board of Revenue (FBR) has suspended Commissioner-Inland Revenue (Refunds), Regional Tax... Published 04 Sep, 2024 07:48am
‘Undue benefits’ to PEL: AGP asks PD to conduct inquiry ISLAMABAD: The Auditor General of Pakistan (AGP) has asked the Petroleum Division to conduct an inquiry and hold... Published 04 Sep, 2024 07:44am
Rs25bn recoveries from trade groups: CPPA-G rejects changes to Nepra determinations ISLAMABAD: The Central Power Purchasing Agency–Guaranteed (CPPA-G) has opposed any change in determinations of NEPRA... Updated 04 Sep, 2024 08:49am
Ministries, Divs barred from releasing funds for new projects ISLAMABAD: The Ministry of Planning, Development and Special Initiatives has barred ministries/Divisions from... Updated 04 Sep, 2024 09:14am
Surplus of HSD stock: PSO asked to re-evaluate HSD quantities contracted with Kuwait Petroleum Company ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has directed Pakistan State Oil (PSO) to reevaluate the... Updated 04 Sep, 2024 08:49am
Brazil economy beats projections with 1.4pc growth in Q2 BRASÍLIA: Brazil’s economy, the largest in Latin America, continued to pick up pace in the second quarter, ... Published 04 Sep, 2024 06:38am
AGP unearths huge irregularities in SOEs ISLAMABAD: The Auditor General of Pakistan (AGP) has unearthed hundreds of cases of financial irregularities,... Published 04 Sep, 2024 06:38am
Jul-Aug exports up 14pc to $5.05bn YoY ISLAMABAD: The country’s exports increased by 14 percent during the first two months (July-August) of current... Published 04 Sep, 2024 06:38am
CDWP approves 5 projects worth Rs15.35bn ISLAMABAD: The Central Development Working Party (CDWP) cleared eight development projects at cost of Rs144.3 ... Published 04 Sep, 2024 06:38am
TFA with trade bloc of South American states ‘MERCOSUR’ given ex-post facto approval ISLAMABAD: The federal cabinet on Tuesday gave ex-post facto approval of the Trade Framework Agreement between... Published 04 Sep, 2024 06:38am
USF approves Rs23bn budget for 2024-25 ISLAMABAD: The Universal Service Fund (USF) Policy Committee approved USF Company budget of Rs 23 billion for the... Published 04 Sep, 2024 06:38am
Jul-Aug oil sales decline 12pc to 2.4m tons YoY KARACHI: Pakistan’s Oil Marketing Companies (OMCs) sales decreased by 14 percent on year-on-year basis to 1.21... Published 04 Sep, 2024 06:38am
Taxes FBR forms body to evaluate cases before filing appeals with HCs ISLAMABAD: The Federal Board of Revenue (FBR) has constituted a Scrutiny Committee to evaluate all cases before... Published 04 Sep, 2024 06:38am
Industry WISPAP recommends PTA to open access to bandwidth for all ISPs ISLAMABAD: Chairman Wireless and Internet Service Providers Association of Pakistan (WISPAP) Shahzad Arshad urged ... Published 04 Sep, 2024 06:38am
Industry PTA confirms: ‘Wholesale IP bandwidth providers obstructing reselling by other operators’ ISLAMABAD: Pakistan Telecommunication Authority (PTA) has confirmed that wholesale IP bandwidth providers are... Published 04 Sep, 2024 06:38am
Industry KCCI urges Chairman NEPRA to address issues of consumers KARACHI: President Karachi Chamber of Commerce and Industry (KCCI) Iftikhar Ahmed Sheikh has urged Chairman National... Published 04 Sep, 2024 06:38am
Companies inDrive concludes Courier Champions 2024 ISLAMABAD: inDrive, a leading transportation and delivery platform, proudly concluded the “Courier Champions... Published 04 Sep, 2024 06:38am
Finance minister meets with Global CEO of FLSmidth ISLAMABAD: The Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a meeting with Mikko Keto,... Published 04 Sep, 2024 06:38am
Electricity billing system with smart meters way forward to resolve issues: Speakers ISLAMABAD: Speakers at a conference have said that improving Pakistan’s electricity billing system with smart... Published 04 Sep, 2024 06:38am
Companies 28 firms honoured at Solar Technology Excellence Awards 2024 LAHORE: The Solar Technology Excellence Awards 2024, a prestigious event celebrating innovation and leadership in ... Published 04 Sep, 2024 06:38am
Money & Banking China’s yuan dips SHANGHAI: China’s yuan eased against the dollar on Tuesday as disappointing August factory activity data raised... Published 04 Sep, 2024 06:38am
Money & Banking Dollar firms as traders eye data-heavy week NEW YORK: The dollar hovered near a two-week high against the euro on Tuesday as traders braced for a data-heavy... Published 04 Sep, 2024 06:38am
Money & Banking Asian currencies subdued ahead of US data BENGALURU: Equities and currencies in most emerging Asian markets were on the back foot on Tuesday, with Indonesian... Published 04 Sep, 2024 06:38am
Industry PPMA condemns allegations against efficacy of Pakistani drugs KARACHI: The Pakistan Pharmaceutical Manufacturers Association (PPMA) on Tuesday strongly condemned and... Published 04 Sep, 2024 06:38am
Money & Banking Raqami Islamic Digital Bank partners with Risk Associates KARACHI: Raqami Islamic Digital Bank Limited (RIDBL) announced a strategic partnership with Risk Associates, a... Updated 04 Sep, 2024 07:46am
