News Archives for Business & Finance - 2024-09-27

<<>>

Business & Finance - 2024-09-27

Stocks

Wall Street edges higher after inflation report; small caps outperform

US main stock indexes inched up on Friday and small-cap stocks outperformed after a benign inflation report cleared...

Published 27 Sep, 2024 07:58pm

Stocks

Sri Lanka shares end higher after cenbank leaves rates unchanged

CSE All-Share index settled up 0.87% at 11,773.9

Published 27 Sep, 2024 06:33pm

Financial

Fed seen cutting rates another 50 bps in November

The Federal Reserve is likelier than not to deliver a second 50-basis-point interest rate cut in November, traders...

Published 27 Sep, 2024 06:23pm

Middle East

Israel joins Asian Development Bank

MANILA: Israel has become the newest non-regional member of the Asian Development Bank, the Philippines-based lender...

Published 27 Sep, 2024 06:14pm

Forex

India’s FX reserves advance for 6th week to hit record, inch closer to $700bn

MUMBAI: India’s foreign exchange reserves continued to rise for a sixth straight week to a record high of $692.3...

Published 27 Sep, 2024 05:54pm

Stocks

UAE stocks end lower on weak oil, regional tensions

Stock markets in the United Arab Emirates fell on Friday despite China’s big stimulus steps as weak oil prices and...

Published 27 Sep, 2024 05:19pm

Finance Ministry projects Pakistan’s headline inflation at 8-9% in September, October

Economy indicates positive developments during first two months of FY2025, says Monthly Economic Update and Outlook for September

Updated 27 Sep, 2024 11:33pm

Commodities

Global LNG: Asian spot LNG price flat amid tepid demand

KUALA LUMPUR: Asian spot liquefied natural gas (LNG) prices were flat this week amid tepid demand in northeast Asia,...

Published 27 Sep, 2024 04:53pm

Stocks

PSX sees selling pressure again, KSE-100 down nearly 0.5%

Index-heavy banking and cement sectors saw some selling pressure on Friday as the benchmark KSE-100 Index lost over...

Updated 27 Sep, 2024 06:03pm

Stocks

Indian shares end off record highs; rise for third straight week

BENGALURU: Indian shares settled marginally lower on Friday as investors booked profits at the end of a week that...

Published 27 Sep, 2024 04:44pm

Commodities

Aluminium at 16-week high, driven by China’s stimulus measures

LONDON: Aluminium prices in London touched a 16-week high on Friday due to a fund buying triggered by the fresh...

Published 27 Sep, 2024 04:41pm

Commodities

Palm closes over 2% lower but posts weekly gain

KUALA LUMPUR: Malaysian palm oil futures ended more than 2% lower on Friday, snapping a seven-session rally due to a...

Published 27 Sep, 2024 04:38pm

Companies

Nishat Mills looks to sell hospitality business, will establish subsidiary in Türkiye

The board of Nishat Mills Limited (NML), the flagship company of Nishat Group, has approved to dispose off 100%...

Updated 27 Sep, 2024 11:34pm

Companies

UAE’s Gargash Group commences ownership transfer for stake in TPL Trakker’s Middle East subsidiary

Gargash Group, a UAE-based conglomerate, has initiated ownership for a 50.1% equity stake in Trakker Middle East LLC...

Published 27 Sep, 2024 02:39pm

Bullion Rate

Gold price per tola decreases Rs300 in Pakistan

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

Published 27 Sep, 2024 02:16pm

Stocks

London stocks edge higher ahead of US inflation data; set for weekly gains

UK shares edged higher on Friday, ahead of a key US inflation print for signals on the scope of Federal Reserve’s...

Published 27 Sep, 2024 02:00pm

Sri Lanka holds rates steady, sees rosy inflation, growth outlook

COLOMBO: Sri Lanka’s central bank kept interest rates unchanged on Friday in line with expectations, citing domestic...

Published 27 Sep, 2024 01:58pm

Forex

South African rand holds on to gains against dollar

JOHANNESBURG: South Africa’s rand was steady against the dollar on Friday, as the local currency held onto recent...

Published 27 Sep, 2024 01:54pm

Forex

China’s yuan skips the stimulus party as state banks sell

SHANGHAI/BEIJING: China’s yuan has stayed steady through a week that saw authorities roll out massive stimulus and...

Published 27 Sep, 2024 01:53pm

Commerzbank, UniCredit to meet Friday morning, source says

FRANKFURT: A meeting between bankers from Commerzbank and UniCredit will be held virtually on Friday morning, a...

Published 27 Sep, 2024 01:45pm

Mutual Funds

Euro zone government bond yields drop after inflation data

Euro zone government bond yields dropped on Friday after inflation data from France and Spain, with investors...

Published 27 Sep, 2024 12:36pm

Stocks

STOXX 600 hits record intraday high

LONDON: Europe’s STOXX 600 rose 0.2% to a record high of 526.72 points on Friday, eclipsing late August’s all-time...

Published 27 Sep, 2024 12:32pm

Energy

India will not buy from Russia’s sanctioned Arctic LNG 2 project, oil secretary says

NEW DELHI: India will not buy liquefied natural gas (LNG) produced from Russia’s Arctic LNG 2 project, which is...

Published 27 Sep, 2024 12:15pm

Commodities

Copper set for best weekly gain since mid-May on Chinese stimulus

Copper prices fell in London on Friday but were set for their best weekly gain in more than four months, on hopes of...

Published 27 Sep, 2024 12:04pm

Toyota global output falls for 7th straight month in August

TOKYO: Toyota Motor’s global production fell 11% in August, declining for a seventh straight month, dragged lower by...

Published 27 Sep, 2024 11:48am

Stocks

China stocks set for best week in 16 years on stimulus package

SHANGHAI: China and Hong Kong stocks are on track for their best weekly performances in 16 years, as Beijing rolled...

Published 27 Sep, 2024 11:46am

Business & Economy

PM Shehbaz engages World Bank, IMF leaders on Pakistan’s economic reforms

Expresses appreciation for IMF's technical assistance and capacity-building programs

Updated 27 Sep, 2024 11:33pm

Exchange

Rupee largely stable against US dollar

Currency settles at 277.64 against the greenback in inter-bank market

Updated 27 Sep, 2024 06:15pm

Forex

Australia, NZ dollars energised as China optimism boosts risk, resources

SYDNEY: The Australian and New Zealand dollars basked near multi-month highs on Friday as hopes for truly potent...

Published 27 Sep, 2024 10:51am

Forex

Indian rupee to gauge trimmed bets of jumbo Fed cut; US inflation data in focus

MUMBAI: The Indian rupee is likely to open little changed on Friday as traders gauge the pullback in odds of another...

Published 27 Sep, 2024 10:49am

Commodities

Wheat falls on demand worries, but set for weekly gain

SINGAPORE: Chicago wheat slid on Friday as dismal demand for US cargoes weighed on prices, although the market is on...

Published 27 Sep, 2024 10:39am

Stocks

Miners lift Australian shares up for second straight day

Australian shares extended gains on Friday as mining stocks surged, set for for their best week in more than eight...

Published 27 Sep, 2024 10:25am

Bullion Rate

Gold holds steady with spotlight on key US inflation data

Gold held its ground on Friday after hitting a record high in the previous session on mounting expectations of...

Published 27 Sep, 2024 10:23am

Mutual Funds

India bond yields rise as 2H borrowing disappoints

MUMBAI: Indian government bond yields rose in early trading on Friday, after New Delhi kept its market borrowing for...

Published 27 Sep, 2024 10:19am

Stocks

Indian shares open muted; IT stocks jump

BENGALURU: Indian shares opened little changed on Friday, hovering near record highs, as a surge in IT stocks after...

Published 27 Sep, 2024 10:18am

Commodities

Palm set to snap 7-day rally on weaker crude oil and stronger ringgit

KUALA LUMPUR: Malaysian palm oil futures opened lower on Friday after a seven-session rally, as pressure from weaker...

Published 27 Sep, 2024 10:16am

Mutual Funds

JGB yields fall as market braces for nationalist win at ruling party election

TOKYO: Yields on Japan’s government bonds with shorter maturities fell on Friday as the market braced for the...

Published 27 Sep, 2024 10:14am

Stocks

Nikkei rises on tech; investors eye Japan leadership election

TOKYO: Japan’s Nikkei share average edged up on Friday, led by a rally in semiconductor-related shares after...

Published 27 Sep, 2024 10:12am

Forex

Dollar wavers, risk-sensitive currencies boosted by China optimism

SINGAPORE: The dollar wobbled on Friday and looked set for a third straight month of declines as investors weighed...

Published 27 Sep, 2024 10:09am

Energy

Oil steady but on track for weekly drop on firmer supply outlook

LONDON: Oil prices held steady on Friday but remained on track for a weekly fall as investors weighed expectations...

Updated 27 Sep, 2024 05:33pm

Companies

Fatima Euricom Rice Mills (Pvt) Ltd by M/s Euricom SPA: CCP grants approval of acquisition of 50pc shareholding

ISLAMABAD: The Competition Commission of Pakistan (CCP) has granted approval for the acquisition of a 50 percent...

Published 27 Sep, 2024 07:25am

Taxes

FBR announces prize scheme for customers of Tier-1 retailers

ISLAMABAD: The Federal Board of Revenue (FBR) on Thursday announced a prize scheme for the customers of integrated...

Published 27 Sep, 2024 07:24am

Taxes

FBR chief pays surprise visit to LTO Islamabad

ISLAMABAD: Chairman Federal Board of Revenue (FBR) Rashid Mahmood paid a surprise visit to Large Taxpayer Office...

Published 27 Sep, 2024 07:23am

Industry

Govt urged to facilitate traders after successful IMF talks

LAHORE: United Business Group (UBG) Patron-in-Chief S M Tanveer has urged the government to facilitate the business...

Published 27 Sep, 2024 07:21am

Companies

Pharma Summit & Awards: Haleon Pakistan awarded for exporting Rs1.1bn pharma products

ISLAMABAD: Haleon Pakistan Limited has been was awarded with export award at the Pakistan Pharma Summit and Awards...

Published 27 Sep, 2024 07:19am

RLNG supplies: SNGPL’s SOS to PD over power sector underpayment

ISLAMABAD: The Sui Northern Gas Pipelines Limited (SNGPL) has sent SOS to the Petroleum Division against less...

Updated 27 Sep, 2024 09:13am

Govt braces for ‘transitional pain’

ISLAMABAD: Pakistan said Thursday it would have to go through “transitional pain” after the International...