News Archives for Business & Finance - 2024-09-23

Stocks

KSE-100 loses 224 points on profit-taking, closes below 82,000

After closing at a record high in the previous session, the Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index...

Updated 23 Sep, 2024 09:49pm

Interest Rates

Big rate cut was ‘appropriate’ first step: Fed official

WASHINGTON: The US Federal Reserve’s decision to cut interest rates by half a percentage-point was “an appropriate...

Published 23 Sep, 2024 06:18pm

Industry

New Energy Vehicles: Sazgar Engineering gears up for local assembly in Pakistan by Dec 2025

Sazgar Engineering Works Limited (SAZEW), a Pakistani auto manufacturer, on Monday announced its plans to launch New...

Updated 23 Sep, 2024 10:24pm

Money & Banking

SBP’s profit hits record Rs3.4tn in FY24, govt set for windfall

Higher interest rates, exchange gain help central bank post record earnings

Updated 23 Sep, 2024 11:01pm

Stocks

Amreli Steels bleeds, loss for FY24 stands at Rs6.1bn as sales drop

Amreli Steels Limited sustained massive losses to the tune of Rs6.1 billion amid a drop in sales and high expenses...

Updated 23 Sep, 2024 10:25pm

Energy

OGDC’s profit down 7% in FY24 despite higher sales

Oil and Gas Development Company Limited (OGDCL), the country’s largest exploration and production (E&P) company,...

Published 23 Sep, 2024 03:15pm

Bullion Rate

Gold price per tola decreases Rs600 in Pakistan

After increasing for three consecutive sessions, gold prices in Pakistan declined on Monday in line with their...

Published 23 Sep, 2024 02:29pm

Stocks

Most Gulf markets extend gains on rate cuts; regional tensions weigh

Most major stock markets in the Gulf rose in early trade on Monday, continuing a rally sparked by interest rate cuts...

Published 23 Sep, 2024 02:13pm

Stocks

China stocks rise for 4th day amid stimulus hopes; Hang Seng hits 3-month high

SHANGHAI: China stocks rose on Monday for a fourth straight session, with the country’s 30-year treasury yield...

Published 23 Sep, 2024 01:47pm

Forex

South African rand softens against the dollar

JOHANNESBURG: South Africa’s rand softened against the dollar on Monday, retreating from a fresh 20-month high it...

Published 23 Sep, 2024 01:44pm

Commodities

Iron ore hits over 1-year low on soft China demand prospects, firmer supply

SINGAPORE: Iron ore futures fell on Monday to their lowest in more than a year, as investors weighed prospects of...

Published 23 Sep, 2024 12:49pm

Stocks

European shares flat ahead of data-packed week

European shares started Monday on a subdued note as investors maintained a cautious stance ahead of a slew of key...

Published 23 Sep, 2024 12:33pm

Commodities

London copper climbs on better China demand, lower stocks

BEIJING: London copper prices climbed on Monday with signs of better demand in top consumer China and falling...

Published 23 Sep, 2024 11:37am

Commodities

Palm rises for fourth session on rivals’ strength; output concerns cap gains

KUALA LUMPUR: Malaysian palm oil futures extended gains on Monday for a fourth straight session, tracking strength...

Updated 23 Sep, 2024 03:52pm

Commodities

US rate cut, geopolitical woes lift gold to record high

Gold prices extended gains to scale a record high on Monday, driven by the momentum generated by the Federal...

Published 23 Sep, 2024 11:05am

Forex

China’s yuan slows uptick amid rising trade tensions, lower bond yields

SHANGHAI: China’s yuan was little changed on Monday following a six-session rising streak, as the dollar stabilized...

Published 23 Sep, 2024 11:02am

Exchange

Rupee remains stable against US dollar

Currency settles at 277.87 against US dollar in inter-bank market

Updated 23 Sep, 2024 10:32pm

Stocks

Asia stocks, Wall St futures edge up; China trims repo rate

SYDNEY: Asian stocks firmed on Monday ahead of central bank meetings that are widely expected to deliver two more...

Published 23 Sep, 2024 09:47am

Stocks

South Korean stocks close higher with key US inflation data in focus

KOSPI rose 8.64 points, or 0.33%, to 2,602.01

Updated 23 Sep, 2024 12:08pm

Financial

Indian bond yields seen little changed with focus on domestic triggers

MUMBAI: Indian government bond yields are expected to start the week with a flattish trend, with focus shifting to...

Published 23 Sep, 2024 09:41am

Currency

Indian rupee ends flat after hitting 3-month peak; oil firms’ dollar bids weigh

MUMBAI: The Indian rupee ended flat on Monday as dollar demand from local oil companies pulled the currency off a...

Updated 23 Sep, 2024 03:46pm

Stocks

Australian shares snap 7-day rally as Woolworths, Coles weigh

Australian shares declined on Monday, breaking a seven-day winning streak as investors pulled back ahead of the...

Updated 23 Sep, 2024 12:11pm

Stocks

Indian shares continue to scale new peaks after US rate cut

BENGALURU: Indian shares hit record highs for the third straight session on Monday as the outsized U.S. rate cut...

Updated 23 Sep, 2024 03:29pm

Energy

Oil edges higher on Middle East tensions, storm worries

HOUSTON: Oil prices ticked up on Monday as investors worried about supply after tensions in the Middle East...

Updated 23 Sep, 2024 08:43pm

Forex

Bitcoin jumps while Japan holiday dulls most currencies

SINGAPORE: Bitcoin was the notable mover as it reached for one-month highs on Monday, sustaining its rally after the...

Published 23 Sep, 2024 09:27am

Xi’an witnessing increased Pak-China cooperation

ISLAMABAD: Xi’an, the capital of Shaanxi Province in northwestern China, is witnessing an unprecedented surge in...

Published 23 Sep, 2024 06:45am

Energy

OGDCL, Chinese co sign MoU on shale, tight gas exploration

ISLAMABAD: In a significant development, during the ongoing 8th Silk Road International Expo for investment and ...

Published 23 Sep, 2024 06:45am

UK trade commissioner begins key visit

ISLAMABAD: UK Trade Commissioner for Middle East and Pakistan Oliver Christian has landed in Islamabad on his first...

Updated 23 Sep, 2024 08:44am

Taxes

Increase in sales tax from 10pc to 18pc on tractors criticized

ISLAMABAD: The poor farmers and agriculturists have expressed serious concern over the Federal Board of Revenue’s...

Published 23 Sep, 2024 06:45am

Direct shipping route, air flights help increase trade: Bangladeshi HC

KARACHI: The High Commissioner of Bangladesh to Pakistan Muhammad Ruhul Alam Siddique has said people-to-people...

Published 23 Sep, 2024 06:45am

Money & Banking

Yuan jumps to 16-month high

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

Published 23 Sep, 2024 06:45am

Money & Banking

Sterling rises vs dollar

LONDON: Sterling edged up against the dollar and the euro on Friday, as strong UK retail sale data provided an extra...

Published 23 Sep, 2024 06:45am

Money & Banking

Australia, NZ dollars near 2024 highs

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

Published 23 Sep, 2024 06:45am

Money & Banking

Russian rouble weakens against dollar

MOSCOW: The Russian rouble weakened against all major currencies on Friday after regaining some ground against the...

Published 23 Sep, 2024 06:45am

Industry

SCCI elections: campaigning heats up

PESHAWAR: The Businessman Forum (BF) of Ilyas Ahmad Bilour and Haji Ghulam Ali led newly-formed Sarhad Business...

Published 23 Sep, 2024 06:45am

Vegetable farmers’ groups: Maryam announces subsidy on seeds, fertilizers and solarization

LAHORE: Vegetable farmer groups consisting of 5 to 10 farmers will be given subsidy on seeds, fertilizers, drip...

Published 23 Sep, 2024 06:45am

Industry

7th Pakistan Pharma Summit: event aims to highlight innovations, collaborative growth in pharmaceutical sector

KARACHI: As Pakistan’s pharmaceutical industry looks to evolve amidst local and global challenges, the 7th ...

Published 23 Sep, 2024 06:45am

Companies

BoK participates in Islamabad Expo 2024

ISLAMABAD: Bank of Khyber (BoK) participated in the Islamabad Expo 2024, an event hosted by the Islamabad Women...

Published 23 Sep, 2024 06:45am

Companies

NBP launches easy loan facility ‘Cash N Gold’

KARACHI: National Bank of Pakistan introduces its latest service, “NBP Cash N Gold,” offering a seamless way for...

Published 23 Sep, 2024 06:45am

Companies

PSI Pakistan appoints Bond Advertising as its agency partner

KARACHI: Population Services International, Pakistan (PSI), a leading not for profit organisation in quality...

Published 23 Sep, 2024 06:45am

Industry

KCCI elections: All 30 candidates of BMG defeat their opponents

KARACHI: All 30 candidates of the Businessmen Group (BMG), led by BMG Chairman and former KCCI president Zubair...

Published 23 Sep, 2024 06:45am

Companies

StanChart Pakistan announces launch of ‘SC Women In Tech Cohort 6’

KARACHI: Standard Chartered Pakistan, launched the 6th Cohort of the Standard Chartered Women in Tech Programme ...

Published 23 Sep, 2024 06:45am

Swiss govt sees below average economic growth in 2024

ZURICH: The Swiss economy is expected to grow by 1.2% this year, the government said on Thursday, below the...

Published 23 Sep, 2024 06:45am