News Archives for Business & Finance - 2024-09-24

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Business & Finance - 2024-09-24

Energy

Rs8.92 per unit: KE says received ‘Pakistan’s lowest tariff bid’ for 220MW hybrid project

Power utility K-Electric (KE) on Tuesday said it had received the “country’s lowest tariff bid” of Rs8.9189 per unit...

Published 24 Sep, 2024 08:17pm

Google, Volkswagen partner on smartphone AI assistant

SAN FRANCISCO: Alphabet’s Google is providing key capabilities for an artificial intelligence assistant for...

Published 24 Sep, 2024 04:58pm

Commodities

Explaining the price-surge: all that glitters is gold in Pakistan

The price of one-tola gold in Pakistan hit yet another all-time high on Tuesday to Rs273,000, breaking the previous...

Published 24 Sep, 2024 04:43pm

Commodities

New record high: gold price hits Rs273,000 per tola in Pakistan

After declining in the previous session, gold prices in Pakistan jumped on Tuesday in line with their increase in...

Published 24 Sep, 2024 02:41pm

Companies

Newage Cables and China Electric Power Equipment & Technology (CET) sign agreement worth RMB75 million

Newage Cables and China Electric Power Equipment & Technology (CET) have signed an agreement through their...

Published 24 Sep, 2024 02:08pm

Stocks

Most Gulf markets gain in line with oil, Asian shares

Most major stock markets in the Gulf rose in early trade on Tuesday in line with oil prices and Asian shares buoyed...

Published 24 Sep, 2024 01:50pm

Stocks

London shares jump as China stimulus lifts mining, luxury stocks

UK stocks rose on Tuesday tracking global gains, as markets cheered fresh stimulus measures in China that lifted...

Published 24 Sep, 2024 01:19pm

Industry

Mari Petroleum says will invest Rs10bn in tech-focused subsidiary

The Board of Directors of Mari Petroleum Company Limited (MARI), one of Pakistan’s largest E&P companies, has...

Updated 24 Sep, 2024 10:33pm

Stocks

European shares jump on China stimulus; luxury stocks shine

European shares opened higher on Tuesday, as China’s sweeping stimulus measures boosted stocks of luxury companies...

Published 24 Sep, 2024 01:17pm

Companies

TOMCL secures $12mn beef export deal with China

In a major development, The Organic Meat Company Limited (TOMCL) has secured a $12-million contract from China for...

Updated 24 Sep, 2024 08:29pm

Stocks

KSE-100 sees selling pressure, closes 367 points lower

Selling pressure was seen at the Pakistan Stock Exchange (PSX) on Tuesday as the benchmark KSE-100 Index closed...

Updated 24 Sep, 2024 10:31pm

Commodities

Palm snaps four-session winning run on firm ringgit, India demand concerns

KUALA LUMPUR: Malaysian palm oil futures fell for the first time in five sessions on Tuesday, on stronger ringgit...

Published 24 Sep, 2024 12:29pm

Stocks

Chinese stocks, bonds, yuan rally after Beijing slashes rates

SINGAPORE: Chinese stocks surged on Tuesday, the yuan jumped and bonds rallied briefly after Beijing announced a...

Published 24 Sep, 2024 12:11pm

Companies

Amreli Steels temporarily halts operations at Karachi facility amid economic issues

Due to economic hardships, the Board of Directors (BoD) of Amreli Steels Limited (ASTL) has decided to temporarily...

Updated 24 Sep, 2024 08:49pm

Exchange

Rupee records marginal improvement against US dollar

Currency settles at 277.80 level against the greenback in inter-bank market

Updated 24 Sep, 2024 10:14pm

Middle East

Qatar Airways suspends Beirut flights until Wednesday

DOHA: Qatar Airways said Tuesday it had suspended flights to Beirut until Wednesday as tensions escalated between...

Published 24 Sep, 2024 11:11am

Commodities

Gold holds ground on dovish Fed-speak, Mideast concerns

Gold prices steadied on Tuesday after surging to a record high in the previous session, following broadly dovish...

Published 24 Sep, 2024 11:01am

Commodities

Iron ore recovers on fresh China stimulus, seasonal stockpiles

SINGAPORE: Prices of iron ore futures recouped losses on Tuesday, as a wave of new monetary stimulus from China and...

Published 24 Sep, 2024 10:41am

Financial

JGB yields fall as bets ease for near-term rate hike after dovish BOJ

TOKYO: Japanese government bond (JGB) yields slumped on Tuesday, as investors digested the Bank of Japan’s (BOJ)...

Published 24 Sep, 2024 10:30am

Commodities

Soybeans ease after rally, supply worries limit decline

SINGAPORE: Chicago soybeans edged lower on Tuesday, surrendering some of the previous session’s gains that drove...

Published 24 Sep, 2024 10:28am

Commodities

Copper hits two-month high on US rate cut momentum, improving China demand

Copper prices rose on Tuesday on continued momentum of the U.S. interest rate cut last week and improving demand in...

Published 24 Sep, 2024 10:22am

Stocks

Asia stocks hit 2-1/2-year high on China’s stimulus measures

SINGAPORE: Asian stocks rose on Tuesday to their highest in more than two and half years, boosted by a slew of...

Published 24 Sep, 2024 10:11am

Stocks

South Korea stocks extend gains to sixth session on further US rate cut hopes

KOSPI closed up 29.26 points, or 1.12%, at 2,631.27

Updated 24 Sep, 2024 12:14pm

Forex

Indian rupee’s upside seen largely capped at current level

MUMBAI: The Indian rupee is expected to open little changed to slightly higher on Tuesday amid a dovish Federal...

Published 24 Sep, 2024 10:00am

Financial

India bond yields steady ahead of $4bn state debt sale

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

Published 24 Sep, 2024 09:58am

Stocks

Australian equities slip as bank losses edge out jump in miners

Australian shares ticked lower on Tuesday with financials leading losses after the central bank left interest rates...

Updated 24 Sep, 2024 12:22pm

Stocks

Japan’s Nikkei posts 3-week closing high on Wall Street strength, dovish BOJ

TOKYO: Japan’s Nikkei share average rose on Tuesday to a three-week closing high as markets resumed trade after a...

Updated 24 Sep, 2024 12:25pm

Stocks

Indian shares take a breather at record high levels

BENGALURU: Indian shares opened relatively flat on Tuesday, holding steady at record highs as traders paused...

Published 24 Sep, 2024 09:51am

Energy

Oil prices climb 2% on China stimulus, Middle East conflict

Oil prices climbed about 2% to a three-week high on Tuesday on news of monetary stimulus from China, the world’s top...

Updated 24 Sep, 2024 09:09pm

Forex

Aussie dollar near 2024 high as China cuts rates ahead of RBA

TOKYO: The Australian dollar hovered close to its highest level this year on Tuesday, with the central bank set to...

Published 24 Sep, 2024 09:45am

‘Pakistan should promote trade, economic ties with SCO member states’

KARACHI: Pakistan needs to aggressively promote its trade, investment and economic ties with Shanghai Cooperation...