News Archives for Business & Finance - 2024-09-06

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Business & Finance - 2024-09-06

Stocks

FTSE 100 clocks weekly decline; personal goods shares biggest drag

UK’s main stock index ended lower on Friday, dragged down by personal goods and automobile shares, while investors...

Published 06 Sep, 2024 09:53pm

Stocks

Wall St slides to over 3-week low after mixed payrolls data

Wall Street’s main indexes fell to their lowest in over three weeks on Friday after a crucial jobs report did little...

Published 06 Sep, 2024 09:50pm

USA

Fed’s Williams says time has arrived to start rate cuts

The stance of monetary policy can be moved to a more neutral setting over time depending on the evolution of the data, the outlook, and the risks to achieving our objectives, says Federal Reserve Bank of New York President John Williams

Updated 06 Sep, 2024 10:17pm

Stocks

KSE-100 closes nearly flat as late-session selling erases intra-day gains

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index closed nearly flat on Friday after profit-taking wiped...

Updated 06 Sep, 2024 09:21pm

Stocks

UAE stocks muted as investors eye key US jobs data

Stock markets in the United Arab Emirates ended mostly subdued on Friday as investors held a cautious stance ahead...

Published 06 Sep, 2024 05:41pm

Energy

Global LNG: Asia spot LNG prices down on muted demand, cooler weather

LONDON: Asian spot liquefied natural gas (LNG) prices fell this week on signals of weak economic growth in China...

Published 06 Sep, 2024 05:38pm

Money & Banking

India’s forex reserves hit record high

MUMBAI: India’s foreign exchange reserves rose for a third straight week to a record high of $683.99 billion as of...

Published 06 Sep, 2024 05:07pm

Stocks

Indian shares post worst week in three months, key US jobs data on tap

BENGALURU: India’s benchmark indexes logged their worst week in three months on Friday amid jitters ahead of a...

Published 06 Sep, 2024 05:03pm

Stocks

Sri Lanka shares end lower as utilities, energy slip

CSE All-Share index settled 0.23% lower at 10,775.87

Published 06 Sep, 2024 05:01pm

Commodities

Copper heads for second weekly fall on global growth concerns

LONDON: Copper prices were on track for a second consecutive weekly fall on Friday as concerns about global economic...

Published 06 Sep, 2024 04:58pm

Commodities

Palm ends with a weekly loss, Malaysia data eyed

JAKARTA: Malaysian palm oil booked a weekly loss on Friday, while the market is expecting the Malaysian Palm Oil...

Published 06 Sep, 2024 04:56pm

Forex

Russian rouble weakens on first day of reduced yuan sales by central bank

MOSCOW: The Russian rouble weakened against the dollar and China’s yuan on Friday, the first day of a reduction in...

Published 06 Sep, 2024 03:35pm

Business & Economy

Electric vehicles will account for up to half of auto sales by 2030, BYD Pakistan says

BYD has plans to open an assembly plant in early 2026, but will introduce vehicles for sale later this year, after launching three models in August

Updated 06 Sep, 2024 09:17pm

Forex

Ugandan shilling firmer; agriculture sector dollar inflows help

KAMPALA: The Ugandan shilling was slightly stronger on Friday, helped by dollar inflows from exporters in the...

Published 06 Sep, 2024 03:24pm

Commodities

Copper set for weekly fall on concerns about demand outlook

Copper was on track for a weekly fall on Friday, weighed down by demand concerns fuelled by weak economic data from...

Published 06 Sep, 2024 03:03pm

Toyota cuts 2026 global EV output plans by a third, Nikkei reports

TOKYO: Japan’s Toyota Motor has slashed its electric vehicle production plans for 2026 by a third, the Nikkei...

Published 06 Sep, 2024 03:01pm

Statistics

Fourth successive decline: weekly SPI down to 3-year low

The Sensitive Price Indicator (SPI) for the week ended September 05, 2024 decreased by 0.15%, according to the...

Updated 06 Sep, 2024 10:18pm

Forex

South African rand stable, focus on US jobs data

JOHANNESBURG: The South African rand was stable in early trade on Friday, as markets looked to US jobs data for...

Published 06 Sep, 2024 02:56pm

Stocks

FTSE 100 slips as energy, miners weigh ahead of key US payrolls data

UK’s main stock index was lower on Friday, dragged down by energy and mining shares, as investors awaited a US jobs...

Published 06 Sep, 2024 02:55pm

Stocks

Another Pakistani company to establish subsidiary in UAE: Symmetry Group announces plan

Looking to take advantage of business-friendly environment in the UAE, another listed Pakistani company announced...

Updated 06 Sep, 2024 10:18pm

Stocks

European shares drop on caution ahead of US payrolls report

European shares slipped for a fifth straight session on Friday as caution prevailed ahead of the crucial US jobs...

Published 06 Sep, 2024 02:18pm

ADB to devote half its lending to climate finance by 2030

The Asian Development Bank said on Friday it approved a new goal to devote 50% of its annual lending to climate...

Published 06 Sep, 2024 02:16pm

Commodities

India to extend sugar export ban to boost local supplies, ethanol output, sources say

MUMBAI: India plans to extend a ban on sugar exports for the second straight year as the world’s biggest consumer of...

Published 06 Sep, 2024 02:08pm

Exchange

Gold price per tola increases Rs1,400 in Pakistan

Gold prices in Pakistan maintained its upward trajectory for the second straight session on Friday in line with the...

Updated 06 Sep, 2024 10:24pm

Commodities

Palm oil opens up tracking Dalian, stronger ringgit

JAKARTA: Malaysian palm oil futures rose on Friday, tracking soyoil and palm oil contract at the Dalian market and a...

Published 06 Sep, 2024 11:50am

Forex

China’s yuan flat despite weak dollar as easing expectations weigh

SHANGHAI: China’s yuan was steady on Friday, as easing expectations offset the positive impact from a weaker dollar....

Published 06 Sep, 2024 11:39am

Mutual Funds

JGB yields directionless as caution prevails before US jobs data

TOKYO: Japanese government bond (JGB) yields struggled for direction on Friday as market participants kept to the...

Published 06 Sep, 2024 11:36am

Exchange

Rupee marginally appreciates against US dollar

Currency settles at 278.57 against greenback in inter-bank market

Updated 06 Sep, 2024 10:12pm

Stocks

Markets on tenterhooks ahead of key US jobs data

SYDNEY: Asian shares clung to tight ranges and the dollar nursed losses on Friday, with investors on tenterhooks...

Published 06 Sep, 2024 11:00am

Commodities

Wheat, corn and soy slip after rally but all head for weekly gains

CANBERRA: Chicago wheat, corn and soybean futures eased on Friday as traders decided that a fortnight-long rally...

Published 06 Sep, 2024 10:57am

Bullion Rate

Gold holds below 1-week high ahead of US jobs data, heads for weekly gain

Gold held below a one-week high on Friday and was on track for a weekly gain, as market participants focussed on US...

Published 06 Sep, 2024 10:53am

Forex

Australia, NZ dollars long for clarity on US rates, recession risk

SYDNEY: The Australian and New Zealand dollars held still on Friday ahead of US jobs data that should help clarify...

Published 06 Sep, 2024 10:50am

Stocks

Japan’s Nikkei falls ahead of US jobs data

TOKYO: Japan’s Nikkei share average traded lower on Friday as investors awaited key US jobs data due later in the...

Published 06 Sep, 2024 10:46am

Stocks

Australian shares tick higher as banks gain, US jobs data in focus

Australian shares inched higher on Friday, helped by gains in banks, as investors awaited a key US jobs report that...

Published 06 Sep, 2024 10:42am

Mutual Funds

India 10-year bond yield glued near 6.85% before debt sale, US data

MUMBAI: Indian government bond yields were largely flat early on Friday, with the benchmark yield remaining close to...

Published 06 Sep, 2024 10:39am

Forex

Indian rupee to hold near 84/USD; dollar struggles ahead of key US jobs data

MUMBAI: The Indian rupee is expected to hold near its all-time low on Friday, finding little relief from the US...

Published 06 Sep, 2024 10:28am

Stocks

Indian shares likely to open flat ahead of US jobs data

BENGALURU: India’s benchmark indexes are set to open little changed on Friday, as traders await a crucial US jobs...

Published 06 Sep, 2024 10:26am

Forex

Dollar wallows at one-week low as payrolls test looms large

TOKYO: The US dollar sagged near a one-week low versus major peers on Friday with job market indicators sending...

Published 06 Sep, 2024 10:22am

Energy

Oil falls more than 2% after US jobs data, set for weekly drop

Brent crude futures down $1.62, or 2.23%, to $71.07 a barrel

Updated 06 Sep, 2024 10:02pm

Money & Banking

China’s yuan gains against dollar

HONG KONG: China’s yuan extended recent advances on the dollar on Thursday as the US currency struggled against ...

Published 06 Sep, 2024 08:22am

Money & Banking

Asian currencies: Malaysian ringgit and rupiah gains

BENGALURU: Emerging Asian stocks gained some ground on Thursday after a steep sell-off in the previous session, as...

Published 06 Sep, 2024 08:19am

Money & Banking

Dollar treads water ahead of US payrolls data

NEW YORK: The dollar was little changed against most majors on Thursday in choppy trading after economic data ...

Published 06 Sep, 2024 08:17am

Forex reserves up

KARACHI: State Bank of Pakistan (SBP) Thursday said the total liquid foreign reserves held by the country stood at...

Published 06 Sep, 2024 08:02am

Economy moving in the right direction: Aurangzeb

ISLAMABAD: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb held a virtual meeting with Johanna...

Published 06 Sep, 2024 08:01am

Interest Rates

Further ease in monetary policy stance expected

KARACHI: The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) announced the next monetary policy...

Published 06 Sep, 2024 07:53am

Govt debt stocks rise to Rs69.9trn

KARACHI: The federal government’s total debt stocks rose to Rs 69.6 trillion mark at the end of July 2024 primarily...

Updated 06 Sep, 2024 08:56am

PM seeks plans for $25bn IT exports

ISLAMABAD: Prime Minister Shehbaz Sharif has urged IT experts to come up with their strategies and plans to achieve...

Updated 06 Sep, 2024 08:55am

Aug cement despatches decline 25.68pc to 3.336m tons YoY

LAHORE: The unprecedented and extremely high tax measures leading to a huge increase in cement prices have caused a...

Published 06 Sep, 2024 07:04am

New banknote series: SBP announces results of art contest for designs

KARACHI: The State Bank of Pakistan (SBP) on Thursday announced the successful conclusion of Art Competition for the...

Published 06 Sep, 2024 07:04am

ProDevice to expand business in country

KARACHI: Global tech firm, ProDevice has signed a strategic agreement with SI Global Solutions, leading Pakistani...

Published 06 Sep, 2024 07:04am

Commodities Futures Market: SECP and US CFTC organise training programme

KARACHI: Securities and Exchange Commission of Pakistan (SECP) in collaboration with the US Commodity Futures ...

Published 06 Sep, 2024 07:04am

PBF urges traders to pay taxes to help ensure increased revenue collection

KARACHI: The Pakistan Business Forum (PBF) urged the traders and shopkeepers to pay their taxes to increase revenue...

Published 06 Sep, 2024 07:04am

Parliamentary penal informed: ‘PSDP allocations being revised downward on IMF instruction’

ISLAMABAD: A parliamentary panel, Thursday, was informed that Public Sector Development Programme (PSDP) allocations...

Published 06 Sep, 2024 07:04am

Tessori, Chinese ambassador discuss bilateral relations

KARACHI: Governor Sindh Kamran Khan Tessori hosted a meeting at the Governor House with the Chinese Ambassador to...

Published 06 Sep, 2024 07:04am

Eight OPEC+ members extend oil supply cuts until end of Nov

VIENNA: Eight members of the OPEC+ group of oil-producing nations agreed Thursday to extend their voluntary supply...

Published 06 Sep, 2024 07:04am

Statistics

FE-25 deposits: SBP drops monthly reporting requirement

KARACHI: The State Bank of Pakistan (SBP) has discontinued the monthly reporting of “FE-25 Deposits and their...

Published 06 Sep, 2024 07:04am

Pak cos participate in 24 Fintech 2024 exhibition

ISLAMABAD: The 24 Fintech 2024 exhibition held from 3-5 September 2024 in Riyadh, celebrated the best in Fintech and...

Published 06 Sep, 2024 07:04am

Companies

Meezan Bank & Mastercard renew strategic partnership to enhance offerings for customers across country

KARACHI: Meezan Bank has announced the renewal of strategic partnership with Mastercard to enhance bank’s debit...

Published 06 Sep, 2024 07:04am

Taxes

Current year’s liability: Tax dept fails to object to adjustment of unverified refund

LAHORE: The tax department has failed to object to adjustment of unverified refund towards current year’s...

Published 06 Sep, 2024 07:04am

Industry

CCP, PAS enhancing collaboration to promote self-regulation

ISLAMABAD: The Competition Commission of Pakistan (CCP) and the Pakistan Advertisers Society (PAS) expand their...

Updated 06 Sep, 2024 09:46pm

Companies

EFU Life launches wellness proposition, WIN

KARACHI: EFU Life Assurance Ltd, a leading private sector Life, Takaful and Health insurance provider, announced the...

Published 06 Sep, 2024 07:04am

Industry

Businessmen assail poor state of Karachi’s infrastructure

KARACHI: Leaders of the United Business Group (UBG) President Zubair Tufail, Chairman Sindh Zone Khalid Tawab,...

Published 06 Sep, 2024 07:04am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Sep 23	278.07
USD PKR Interbank Buying / Sep 23	277.87
USD to Japanese Yen / Sep 23	143.48
USD to Swiss Franc / Sep 23	0.85
Pound Sterling to USD / Sep 23	1.33
Euro to USD / Sep 23	1.11

Stock	Volume
S&P 500 / Sep 23	5,716.44
India Sensex / Sep 23	84,928.61
Tokyo Nikkei / Sep 23	37,723.91
Nasdaq / Sep 23	17,982.79
Hang Seng / Sep 23	18,247.11
FTSE 100 / Sep 23	8,259.71
Dow Jones / Sep 23	42,126.45
Germany DAX 30 / Sep 23	18,846.79

Item	Value
Gold 10 Grams PKR / Sep 21	233,625
Crude Oil USD/Barrel / Sep 23	70.45
Karachi Cotton PKR/37.32 KG / Sep 23	18,935
Gold Spot USD/Ounce / Sep 23	2,627.33
Cotton US¢/pound / Sep 23	73.44
Petrol/Litre / Sep 24	249.10

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Sep 24 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Sep 24 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Sep 24 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Sep 24 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Sep 24 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Sep 24 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Sep 24 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Sep 24 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Sep 24 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Sep 24 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Sep 24 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Sep 24 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Sep 24 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Sep 24 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Sep 24 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Sep 24 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Sep 24 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Sep 24 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Sep 24 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Sep 24 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Sep 24 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Sep 24 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Sep 24 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Sep 24 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Sep 24 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Sep 24 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Sep 24 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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