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

Finance Minister Aurangzeb says private sector has to lead country

Pakistan’s Finance Minister Muhammad Aurangzeb on Monday said the government had no business being in business and...

Updated 09 Sep, 2024 11:24pm

Stocks

FTSE 100 jumps over 1% on Entain boost; Burberry and Hostmore tumble

London’s benchmark FTSE 100 climbed over 1% amid broader gains led by travel and leisure stocks after an upbeat...

Published 09 Sep, 2024 09:42pm

Stocks

European shares rebound from dour week with central banks in focus

European bourses rose on Monday, recovering from steep declines the previous week as focus shifted to an anticipated...

Published 09 Sep, 2024 09:39pm

Business & Economy

Pakistan’s remittance inflow stands at $2.9bn in August, up 40.5% year-on-year

On monthly basis, inflow down 2%

Updated 09 Sep, 2024 10:35pm

Companies

Apple’s iPhone 16 to put AI features in focus, Huawei’s new phone racks up pre-orders

SAN FRANCISCO: Apple on Monday is set to unveil its iPhone 16, focusing on how its flagship device’s features are...

Published 09 Sep, 2024 07:03pm

Stocks

Most Gulf markets retreat as Fed uncertainty persists

Most stock markets in the Gulf ended lower on Monday as investors exercised caution ahead of key U.S. inflation data...

Published 09 Sep, 2024 06:35pm

Stocks

KSE-100 sheds 283 points in another range-bound session

The Pakistan Stock Exchange (PSX) witnessed another range-bound session on Monday as the KSE-100 closed lower by 283...

Updated 09 Sep, 2024 08:54pm

Energy

Morgan Stanley cuts Brent crude price view as market signals demand softness

Morgan Stanley on Monday cut its Brent crude oil forecasts for coming quarters and said the global oil market is...

Published 09 Sep, 2024 04:46pm

Stocks

Consumer stocks help Indian shares end higher in choppy session

BENGALURU: India’s benchmark indexes ended higher in a choppy session on Monday, led by gains in consumer goods...

Published 09 Sep, 2024 04:37pm

Stocks

Sri Lanka shares end lower as consumer staples, financials drag

CSE All-Share index settled down 1.05% at 10,663.10

Published 09 Sep, 2024 04:34pm

Commodities

Copper bounces as market looks ahead to US inflation data

LONDON: Copper prices bounced on Monday as hopes for stimulus in top consumer China and sliding stocks in Shanghai...

Published 09 Sep, 2024 04:32pm

Commodities

Palm oil ends lower after sell-off in rival soyoil

NEW DELHI: Malaysian palm oil futures ended lower on Monday after a sell-off in rival soyoil, while the market...

Published 09 Sep, 2024 04:29pm

Industry

Aramco has not commissioned any site in Pakistan as misleading pictures circulate

No Aramco site has been commissioned anywhere in Pakistan so far, and a formal announcement will be made in this...

Published 09 Sep, 2024 04:17pm

Millat Tractors post profit of Rs10.6bn in FY24, up 167%

Millat Tractors Limited (MTL), Pakistan’s largest tractor manufacturer, reported a profit-after-tax (PAT) of Rs10.64...

Updated 09 Sep, 2024 10:47pm

Stocks

London’s FTSE 100 rebounds amid broad gains; Entain soars after upbeat forecast

London’s FTSE 100 rebounded from six sessions of declines on Monday, amid broader gains led by travel and leisure...

Published 09 Sep, 2024 03:07pm

Forex

Russian rouble weakens against yuan amid liquidity shortage

MOSCOW: The Russian rouble weakened against China’s yuan on Monday amid continued liquidity shortage in the market...

Published 09 Sep, 2024 02:50pm

Stocks

Most Gulf markets ease as Fed uncertainty persists

Most major stock markets in the Gulf fell in early trade on Monday as caution prevailed ahead of key US inflation...

Published 09 Sep, 2024 02:37pm

Companies

BF Biosciences gets DRAP nod for brownfield expansion

Pakistan’s pharmaceutical company BF Biosciences Limited (BFBL) has secured approval from the Drug Regulatory...

Updated 09 Sep, 2024 10:42pm

Business & Economy

Pakistan not on IMF agenda till Sept 18, no word on external financing yet

The International Monetary Fund (IMF) has not yet included Pakistan on the agenda of its Executive Board calendar...

Updated 09 Sep, 2024 10:36pm

Stocks

European stocks, dollar recover from US jobs disappointment

LONDON: European stock markets and the dollar recovered Monday after big pre-weekend falls caused by concerns about...

Updated 09 Sep, 2024 05:35pm

Bullion Rate

Gold price per tola decreases Rs1,100 in Pakistan

Gold prices in Pakistan maintained their downward trajectory on Monday in line with the decrease in the...

Updated 09 Sep, 2024 04:49pm

Energy

Saudi Arabia cuts Oct Arab light crude price for Asia to near 3-year low

Top oil exporter Saudi Arabia has cut the October price for flagship Arab light crude to Asia to the lowest in...

Published 09 Sep, 2024 12:18pm

Commodities

Copper weighed down by economic concerns

BEIJING: Copper prices fell on Monday after weaker-than-expected US jobs data fanned more worries over the health of...

Published 09 Sep, 2024 12:09pm

Forex

China’s yuan dips as long-dated yield falls further amid deflation worries

SHANGHAI: China’s yuan dipped against the dollar on Monday as long-dated yields hit record lows after monthly...

Published 09 Sep, 2024 12:05pm

Energy

Sale of Dawood Lawrencepur’s subsidiary cancelled as Artistic Milliners ‘decides not to proceed’

Dawood Lawrencepur Limited (DLL) informed that the proposed sale of Tenaga Generasi Limited, an independent power...

Updated 09 Sep, 2024 10:43pm

Energy

Goldman Sachs says oil subject to downside into 2025-2026 due to surplus

SINGAPORE: Oil prices are still subject to downside into 2025-2026 amid a surplus market, Daan Struyven, head of oil...

Published 09 Sep, 2024 11:45am

Mutual Funds

India bond yields flat as traders unclear over Fed rate cut size

MUMBAI: Indian government bond yields were flat at the start of the week, with the benchmark 10-year yield holding...

Published 09 Sep, 2024 11:43am

Commodities

China stocks hit 7-month low on economic worries; HK shares fall amid Asia weakness

SHANGHAI: China stocks fell to a seven-month low on Monday, as August inflation data deepened economic worries,...

Published 09 Sep, 2024 11:41am

Commodities

Palm oil opens lower, extending losses from last week

NEW DELHI: Malaysian palm oil futures opened down on Monday, extending losses from the previous session, as the...

Published 09 Sep, 2024 11:39am

Energy

APPEC-S&P Global expects OPEC+ to increase oil output next year

SINGAPORE: The Organization of the Petroleum Exporting Countries and its allies, the group known as OPEC+, is...

Published 09 Sep, 2024 11:34am

Mutual Funds

JGB yields rebound as US job report jitters pass

TOKYO: Japanese government bond (JGB) yields rebounded on Monday as investors rolled back some of the bond buying...

Published 09 Sep, 2024 11:29am

Companies

Lucky Core Industries completes acquisition of Pfizer’s Karachi facility and assets

Lucky Core Industries Limited (LCI), previously known as ICI Pakistan Limited, has completed the acquisition of a...

Updated 09 Sep, 2024 05:25pm

Mutual Funds

Philippines awards $401mn T-bill offer

MANILA: Following are the results of the Philippine Bureau of the Treasury’s (BTr) auction of T-bills on Monday:...

Published 09 Sep, 2024 11:21am

Exchange

Rupee falls marginally against US dollar

Currency settles at 278.7 against the greenback in inter-bank market

Updated 09 Sep, 2024 10:46pm

Stocks

Asia shares slip, but US and EU futures find a bid

SYDNEY: Asian share markets slipped on Monday as worries about US and Chinese growth weighed on sentiment, though US...

Published 09 Sep, 2024 11:05am

Bullion Rate

Gold slips below $2,500 mark, market awaits further Fed guidance

Gold prices remained steady on Monday and was trading slightly below the key $2,500 an ounce level, as the market...

Published 09 Sep, 2024 10:59am

Commodities

Corn falls for third session, wheat hits one-week low

SINGAPORE: Chicago corn and soybeans lost more ground on Monday, with market participants taking positions ahead of...

Published 09 Sep, 2024 10:56am

Forex

Australia, NZ dollars steady after selling, bond rally stalls

SYDNEY: The Australian and New Zealand dollars steadied on Monday after last week’s sell-off driven by fears of a US...

Published 09 Sep, 2024 10:45am

Stocks

Japan’s Nikkei sinks 2% as tech stocks track Wall Street slide

TOKYO: Japan’s Nikkei share average fell more than 2% on Monday, with technology stocks among the biggest decliners,...

Published 09 Sep, 2024 10:42am

Forex

Indian rupee may dip on risk aversion; Fed uncertainty persists

MUMBAI: The Indian rupee is likely to open weaker on Monday, tracking the decline in Asian equities and currencies...

Published 09 Sep, 2024 10:33am

Stocks

Indian shares set to open little changed

BENGALURU: Indian shares are set to open flat on Monday as concerns over the health of the US economy persist after...

Published 09 Sep, 2024 10:31am

Stocks

Australian shares tumble in broad sell-off as US jobs data weighs

Australian shares slipped on Monday, with all sectors trading in the red, after a mixed US jobs report failed to...

Published 09 Sep, 2024 10:29am

Forex

Dollar tentative, yen dips on muddled Fed rate-cut outlook

SINGAPORE: The dollar held to tight ranges on Monday while the yen pared some of its safe-haven gains, as investors...

Published 09 Sep, 2024 10:23am

Energy

Oil prices edge up as storm approaches US Gulf Coast after week of heavy losses

NEW YORK: Oil prices edged up about 1% on Monday after falling to multi-month lows last week on concerns a hurricane...

Updated 09 Sep, 2024 10:51pm

Money & Banking

Indian rupee gains on broad dollar decline

MUMBAI: The Indian rupee ended higher on Friday, tracking gains across regional currencies ahead of the crucial US...

Published 09 Sep, 2024 07:27am

Money & Banking

Canadian dollar falls against the greenback

TORONTO: The Canadian dollar weakened to a two-week low against its US counterpart on Friday as oil prices fell and...

Published 09 Sep, 2024 07:25am

Money & Banking

South African rand slips

JOHANNESBURG: The South African rand slipped on Friday after US data suggested a big Federal Reserve interest rate...

Published 09 Sep, 2024 07:24am

Stocks

Wall Street Week Ahead: Economic worries back on Wall Street’s radar after jobs data

NEW YORK: Uncertainty over the US economy’s health is rippling through markets, adding fuel to an already-volatile...

Published 09 Sep, 2024 07:21am

Companies

SLIC stands on a strong footing with 2024 half-yearly results

KARACHI: The State Life Insurance Corporation of Pakistan (SLIC) closed its half yearly results (January – June...

Published 09 Sep, 2024 07:19am

Companies

AkzoNobel welcomes minister to its new Faisalabad plant

FAISALABAD: Akzo-Nobel proud manufacturers of Dulux paints, welcomed the esteemed visit of Chaudhry Shafay Hussain,...

Published 09 Sep, 2024 07:16am

Industry

NOC process for telecom operators: MoITT launches RoW one-window operation

ISLAMABAD: The Ministry of Information Technology and Telecommunication (MoITT) has introduced the Right of Way ...

Published 09 Sep, 2024 07:03am

OMAP seeks PM’s intervention to help resolve issues facing petroleum industry

LAHORE: The Oil Marketing Association of Pakistan (OMAP) has sounded the alarm on the country’s petroleum industry,...

Updated 09 Sep, 2024 09:37am

Enhanced Pak-US ties: Traders call for simplification of visa process

PESHAWAR: The business community called for simplifying business visa process, exchange of trade delegations and...

Published 09 Sep, 2024 07:03am

Need stressed for integrating respect of human rights into business practices

PESHAWAR: Representatives from the United Nations Development Programme (UNDP) and the Federation of Pakistan...

Published 09 Sep, 2024 07:03am

Companies

Boeing reaches labour deal with 25pc pay hike

WASHINGTON: Boeing said on Sunday it had reached a tentative agreement with a union representing more than 32,000...

Published 09 Sep, 2024 07:03am

Business & Economy

Amid Pakistan’s economic crisis, women take charge in the workplace

KARACHI: Amina Sohail veers through heavy traffic to pick up her next passenger -- the sight of a woman riding a...

Published 09 Sep, 2024 01:14am