News Archives for Business & Finance - 2024-09-20

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Business & Finance - 2024-09-20

Stocks

Hacker uses Telegram chatbots to leak data of top Indian insurer Star Health

WASHINGTON/BENGALURU: Stolen customer data including medical reports from India’s biggest health insurer, Star...

Published 20 Sep, 2024 10:25pm

Chinese investment company to set up textile parks in Pakistan

ISLAMABAD: Chinese investment company RUYI will set up textile parks in Pakistan and will invite around 100 Chinese...

Published 20 Sep, 2024 09:25pm

Money & Banking

Domestic borrowing: govt to borrow on its own terms, says Aurangzeb

Finance minister urges banking system to focus on lending to private sector

Updated 20 Sep, 2024 10:46pm

Taxes

FBR’s digitisation, improved enforcement vital for economic reforms: PM Shehbaz

Enhanced tax receipts will upgrade service delivery, social sector, prime minister says

Updated 20 Sep, 2024 10:48pm

Commodities

New record: gold price hits Rs272,000 per tola in Pakistan

Gold prices in Pakistan maintained their upward momentum on Friday in line with their increase in international...

Published 20 Sep, 2024 04:47pm

Industry

FFBL board approves merger with Fauji Fertilizer

The Board of Directors of Fauji Fertilizer Bin Qasim Limited (FFBL) has given its in-principle approval to merge...

Updated 20 Sep, 2024 10:17pm

Companies

Pakistan’s Citi Pharma commences nutraceutical exports to US

Citi Pharma Limited (CPHL), a Pakistani pharmaceutical company, has commenced exports of nutraceuticals to the...

Updated 20 Sep, 2024 04:54pm

Energy

PPL’s earnings jump 19%, clock in at Rs115.5bn in FY24

Pakistan Petroleum Limited (PPL) saw its profit-after-tax (PAT) jump nearly 19% to clock in at Rs115.48 billion for...

Published 20 Sep, 2024 02:45pm

Stocks

China stocks set for rare weekly rise after Fed rate cut; HK shares jump

SHANGHAI: China stocks fell on Friday after benchmark lending rates were unexpectedly kept unchanged, but the main...

Published 20 Sep, 2024 02:14pm

UK retail sales rise 1% in August

LONDON: British retail sales rose 1% in August, official figures showed on Friday. Economists polled by Reuters had...

Published 20 Sep, 2024 02:08pm

Societe Generale to sell a majority stake in Guinean unit

French bank Societe Generale said on Friday it had reached a deal with Atlantic Financial Group for the sale of a...

Published 20 Sep, 2024 02:06pm

Money & Banking

TPL Corp, Abhi enter into SPA to acquire FINCA Microfinance Bank

In a major expansion move, TPL Corp Limited (TPL), a Pakistani financial platform, and Abhi (Private) Limited (Abhi)...

Updated 20 Sep, 2024 04:51pm

Commodities

Copper heads for weekly gain on Fed rate cut, China stimulus hope

BEIJING: Prices of copper rose for a third straight session and were set for a weekly gain as the demand outlook for...

Published 20 Sep, 2024 12:11pm

Commodities

Palm rises on stronger rival oils; on track for weekly gain

KUALA LUMPUR: Malaysian palm oil futures rose for a third straight session and were set for a weekly gain on Friday,...

Published 20 Sep, 2024 12:07pm

Companies

TRG Pakistan says indirect portfolio company Afiniti has agreed ‘comprehensive restructuring plan’

TRG Pakistan, being a shareholder in The Resource Group International (TRGI), announced on Friday that its indirect...

Updated 20 Sep, 2024 04:56pm

Huawei’s $2,800 phone launch disappoints amid supply concerns

SHENZHEN: Huawei and Apple’s latest smartphones went on sale in China on Friday, with many fans of the Chinese tech...

Published 20 Sep, 2024 12:06pm

Commodities

Russian supply glut drags wheat down to weekly loss despite Friday bounce-back

CANBERRA: Chicago wheat futures rose on Friday after the International Grains Council (IGC) cut its global...

Published 20 Sep, 2024 12:02pm

Bank of Japan leaves key interest rate unchanged

TOKYO: The Bank of Japan left interest rates unchanged on Friday, after a decision to hike them in July pushed the...

Published 20 Sep, 2024 11:43am

Stocks

KSE-100 gains another 615 points, closes at record high

Bulls continued to make further inroads at the Pakistan Stock Exchange (PSX), as the benchmark KSE-100 Index, led by...

Updated 20 Sep, 2024 10:18pm

Stocks

Asian markets track Wall Street record to extend global rally

HONG KONG: Asian markets built Friday on the latest global rally after a jumbo US interest rate cut this week, while...

Published 20 Sep, 2024 11:39am

Forex

China’s yuan jumps to 16-month high, state banks step in to curb gains

SHANGHAI: China’s yuan rose to its strongest level in nearly 16 months on Friday on bets that Beijing will unveil...

Published 20 Sep, 2024 10:56am

Energy

India has discussed raising oil imports from Brazil, minister says

NEW DELHI: India has discussed raising oil imports from Brazil in a meeting with the head of the South American...

Published 20 Sep, 2024 10:53am

Commodities

China soybean imports from US gain pace in August

BEIJING: China’s soybean imports from the United States rose 70% in August from a year earlier, customs data showed...

Published 20 Sep, 2024 10:47am

Bullion Rate

Gold hovers near record high as traders navigate Fed’s giant rate cut

Gold prices steadied near record highs on Friday and were poised for a weekly gain, as markets adjusted to the US...

Published 20 Sep, 2024 10:40am

Forex

Rupee gains further ground against US dollar

Currency settles at 277.84 against greenback in inter-bank market

Updated 20 Sep, 2024 09:16pm

Mutual Funds

India bonds steady with focus on 10-year benchmark bond auction

MUMBAI: Indian government bond yields were little changed in early trading on Friday as market participants awaited...

Published 20 Sep, 2024 10:26am

Forex

Indian rupee likely to extend winning run on upbeat risk, Fed outlook

MUMBAI: The Indian rupee is expected to open higher on Friday and add to its weekly advance, boosted by healthy risk...

Published 20 Sep, 2024 10:24am

Forex

Australia, NZ dollars near 2024 highs as risk assets rally

SYDNEY: The Australian and New Zealand dollars nestled near their highs for the year on Friday as the prospect of...

Published 20 Sep, 2024 10:21am

Stocks

Australia shares hit record high on Fed rate cut boost

Australian shares touched an all-time high on Friday, as optimism around the US Federal Reserve’s oversized interest...

Published 20 Sep, 2024 10:19am

Stocks

Japan’s Nikkei rallies on Wall Street’s lead as BOJ decision looms

TOKYO: Japan’s Nikkei share average rose strongly in early trading on Friday, tracking overnight gains on Wall...

Published 20 Sep, 2024 10:17am

ADB approves $500mn loan for Indonesia’s energy transition efforts

JAKARTA: The Asian Development Bank (ADB) said on Friday it has approved a $500 million policy-based loan to fund a...

Published 20 Sep, 2024 10:15am

Stocks

Indian shares set to open higher on US rate-cut euphoria

BENGALURU: Indian shares are set to open higher on Friday, as an outsized interest rate reduction by the US Federal...

Published 20 Sep, 2024 10:12am

Forex

Yen nurses losses as BOJ meets, dollar dogged by rate outlook

SYDNEY: The yen remained under pressure on Friday as investors wagered the Bank of Japan (BOJ) would wrap up a...

Published 20 Sep, 2024 10:08am

Energy

Oil prices set to end week higher after US rate cut

Oil prices eased on Friday but were on track to register gains for a second straight week following a large cut in...

Updated 20 Sep, 2024 09:45pm

AGP raises serious concerns over performance of DGPC

ISLAMABAD: The Auditor General of Pakistan (AGP) has raised serious concerns about the performance of the Director...

Published 20 Sep, 2024 07:55am

Industry

P@SHA elects new CEC for 2024-26

ISLAMABAD: The IT industry across the Pakistan has elected the new 10-member central executive committee (CEC) for...

Published 20 Sep, 2024 06:58am

Taxes

SRO 1064 to be amended to make Tajir Dost Scheme effective: Mir

LAHORE: Chief Coordinator Tajir Dost Scheme Mohammad Naeem Mir said on Thursday that SRO 1064 is likely to be ...

Published 20 Sep, 2024 06:58am

Virtual meeting held: Minister, US diplomat discuss ways to enhance trade ties

ISLAMABAD: Federal Minister for Commerce, Jam Kamal Khan, held a virtual meeting with United States Trade...

Published 20 Sep, 2024 06:41am

Auction for PIBs: Rs83bn raised against Rs200bn target

KARACHI: After rejecting T-Bills auction Wednesday, the federal government Thursday raised Rs 83 billion against the...

Updated 20 Sep, 2024 09:33am

Energy

Settlement of payments on reconciled dues: KE CEO seeks cooperation of Sindh PA body

KARACHI: Sharing information on a meeting held between CEO K-Electric and senior company officials with members of...