News Archives for Business & Finance - 2024-10-02

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Business & Finance - 2024-10-02

Stocks

S&P 500, Nasdaq hit two-week lows as caution reigns over Middle East tensions

The benchmark S&P 500 and the Nasdaq traded near two-week lows on Wednesday as investors priced in a possible...

Published 02 Oct, 2024 07:23pm

Stocks

Most Gulf markets retreat on heightened regional tensions

Most stock markets in the Gulf ended lower on Wednesday after Iran’s ballistic missile strike on Israel stoked fears...

Published 02 Oct, 2024 06:46pm

Stocks

KSE-100 closes marginally higher as late-session selling trims intra-day gains

The Pakistan Stock Exchange (PSX) witnessed mixed trading on Wednesday, as the benchmark KSE-100 Index swayed in...

Updated 02 Oct, 2024 08:32pm

Stocks

Sri Lanka shares end lower as energy, materials drag

CSE All-Share index settled 0.49% lower at 11,934.23

Published 02 Oct, 2024 05:15pm

Commodities

Copper creeps higher on hopes for more China stimulus

LONDON: Copper prices drifted higher on Wednesday, still basking in the glow of stimulus measures unleashed by top...

Published 02 Oct, 2024 05:13pm

Commodities

Palm rises more than 4% in biggest jump in over a year on stronger oil, soyoil

KUALA LUMPUR: Malaysian palm oil futures jumped more than 4% on Wednesday, driven by gains in crude oil prices and...

Published 02 Oct, 2024 05:11pm

Business & Economy

Aurangzeb calls for ‘leveraging’ economic gains to ensure permanent stability

Finance Minister Mohammed Aurangzeb called for “leveraging” Pakistan’s improving economic position to achieve...

Updated 02 Oct, 2024 10:15pm

Bullion Rate

Gold price per tola increases Rs600 in Pakistan

After declining in the last four sessions, gold prices in Pakistan surged on Wednesday in line with their increase...

Updated 02 Oct, 2024 03:24pm

Forex

South African rand softens, global markets focus on Middle East tensions

JOHANNESBURG: The South African rand weakened slightly against a stable dollar in early trade on Wednesday, as...

Published 02 Oct, 2024 02:00pm

Commodities

Jordan issues tender to buy up to 120,000 T wheat, traders say

HAMBURG: Jordan’s state grain buyer has issued an international tender to buy up to 120,000 metric tons of milling...

Published 02 Oct, 2024 01:43pm

Forex

Russian rouble strengthens, helped by higher oil

MOSCOW: The Russian rouble strengthened against the US dollar on Wednesday, regaining ground after a fall in the...

Published 02 Oct, 2024 01:41pm

Energy

Saudi says oil may drop to $50 if OPEC+ members flout output curbs, WSJ reports

The Saudi oil minister has said that oil prices could drop to as low as $50 per barrel if OPEC+ members do not stick...

Updated 02 Oct, 2024 02:28pm

Stocks

Major Gulf markets retreat on heightened regional tensions

Major stock markets in the Gulf declined in early trade on Wednesday after Iran’s ballistic missile strike on Israel...

Published 02 Oct, 2024 01:32pm

Commodities

Copper edges higher on China stimulus, Middle East conflict

Copper prices gained on Wednesday as China’s stimulus measures brightened demand prospects, while rising oil prices...

Published 02 Oct, 2024 01:31pm

Mutual Funds

JGB yields slide on Middle East jitters

TOKYO: Japanese government bond (JGB) yields declined on Wednesday, as investors scooped up safer assets amid fears...

Published 02 Oct, 2024 01:29pm

Volvo Cars reports slight sales increase amid market uncertainty

COPENHAGEN: Volvo Cars’ sales rose by 1% year-on-year in September to 62,458 cars, the Sweden-based automaker said...

Published 02 Oct, 2024 01:28pm

Stocks

European shares buck global downturn on Middle East risks as energy stocks gain

European shares opened higher on Wednesday, led by energy stocks, defying a slump in Asian stocks and Wall Street...

Published 02 Oct, 2024 01:27pm

UniCredit’s rating might top Italy’s if it buys Commerzbank, Moody’s says

MILAN: Moody’s would consider hiking UniCredit’s credit rating one notch above Italy’s sovereign rating if it bought...

Published 02 Oct, 2024 01:25pm

Stocks

FTSE 100 rises on upbeat energy, metal stocks

The UK’s benchmark FTSE 100 stock index opened higher on Wednesday, led by energy and industrial metal mining...

Published 02 Oct, 2024 01:24pm

Forex

Ugandan shilling stable, to ease due to energy sector FX demand

KAMPALA: The Ugandan shilling was little-changed on Wednesday, but was expected to weaken, undercut by an uptick in...

Published 02 Oct, 2024 01:12pm

Business & Economy

Pakistan’s trade deficit widens marginally to $5.4bn in 3MFY25

Gap comes on account of higher imports that stand at $13.31bn, while exports clock in at $7.88bn in three months

Updated 02 Oct, 2024 10:17pm

Business & Economy

T-Bill buyback to boost lending to private sector: SBP governor

State Bank of Pakistan (SBP) Governor Jameel Ahmad on Wednesday said the government’s move to buy back Market...

Updated 02 Oct, 2024 10:14pm

Stocks

Hong Kong stocks rocket more than 6% on China stimulus

HONG KONG: Hong Kong stocks soared more than six percent Wednesday morning, led by another advance in developers...

Published 02 Oct, 2024 12:24pm

Forex

Australia dollar hampered by risk aversion, kiwi by rate calls

SYDNEY: The Australian and New Zealand dollars had stepped back from recent highs on Wednesday as escalating...

Published 02 Oct, 2024 11:31am

Commodities

Wheat eases after touching over 3-month high on Russian supply fears

CANBERRA: Chicago wheat futures fell in early trading on Wednesday, after concerns that dry weather in the Black Sea...

Published 02 Oct, 2024 11:28am

Commodities

Palm rises on stronger crude oil, Chicago soyoil and weaker ringgit

KUALA LUMPUR: Malaysian palm oil futures rose on Wednesday, supported by firmer crude oil prices, stronger Chicago...

Published 02 Oct, 2024 11:20am

Energy

Bangladesh’s RPGCL seeks LNG cargoes for Oct-Nov delivery, document shows

SINGAPORE: Bangladesh’s Rupantarita Prakritik Gas Company Ltd (RPGCL) is seeking two liquefied natural gas (LNG)...

Published 02 Oct, 2024 11:18am

Bullion Rate

Gold prices flat as dollar strength counters safe-haven demand

Gold prices were flat on Wednesday, as a firmer dollar partially offset safe-heaven demand amid heightened Middle...

Published 02 Oct, 2024 11:13am

Energy

Australia’s Santos and TotalEnergies sign LNG deal

SINGAPORE: Australian gas supplier Santos said on Wednesday that it has signed a mid-term liquefied natural gas...

Published 02 Oct, 2024 11:11am

Stocks

Asia stocks slide, oil extends gains on Middle East risks

TOKYO: Asia stocks sank on Wednesday, catching up with the sell-off on Wall Street after Iran’s ballistic missile...

Published 02 Oct, 2024 11:07am

Stocks

Australian shares slip as banks’ losses outweigh gains in miners

Australian shares inched lower on Wednesday as losses in banks outweighed gains in mining and energy stocks, while...

Published 02 Oct, 2024 10:57am

Forex

Rupee remains largely stable against US dollar

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

Updated 02 Oct, 2024 10:42pm

Stocks

Japanese shares fall in early trade on Middle East tension jitters

TOKYO: Japan’s Nikkei share average edged lower in early trade on Wednesday, after escalating tensions in the Middle...

Published 02 Oct, 2024 10:42am

Commodities

Sale of petroleum products jumps 20% in September amid higher demand

Sale of total petroleum products in Pakistan clocked in at 1.27 million tons in September, an increase of 20% on a...

Updated 02 Oct, 2024 10:43pm

Forex

Dollar firm as war widens in Middle East

SYDNEY: The dollar held its sharpest gain in a week on Wednesday after an Iranian missile attack on Israel drove...

Published 02 Oct, 2024 10:03am

Energy

Oil prices up 1% on Middle East tensions; US crude stocks build limits gains

Brent futures up 84 cents, or 1.14%, to $74.40 per barrel

Updated 02 Oct, 2024 09:32pm

Industry

IAP elects its new Executive Committee for 2024-26

KARACHI: The Insurance Association of Pakistan (IAP) has elected its new Executive Committee for the year 2024-26 ...

Published 02 Oct, 2024 06:19am

Lowest since Jan ’21: Sept CPI inflation drops to 6.9pc YoY

ISLAMABAD: The Consumer Price Index (CPI) based inflation decreased to 6.9 per cent on year-on-year basis in...

Published 02 Oct, 2024 06:19am

Agriculture and Allied

Russia and Pakistan: Two agriculture companies sign barter trade deal

MOSCOW: Two agriculture companies from Russia and Pakistan have signed barter deals to trade chickpeas and lentils...

Published 02 Oct, 2024 06:19am

Energy

Big oil’s big payouts under strain

LONDON: Major energy companies are set to borrow billions to maintain shareholder payouts or cut the rate of share...

Published 02 Oct, 2024 06:19am

Fed terminates 2013 money-laundering enforcement action against Citigroup

WASHINGTON: The Federal Reserve announced on Tuesday that it had terminated a 2013 enforcement action it filed...

Published 02 Oct, 2024 06:19am

Oil-rich Saudi projects budget deficit through 2027

RIYADH: The Arab world’s biggest economy Saudi Arabia announced Monday it anticipates a budget deficit of 2.3...

Published 02 Oct, 2024 06:19am

Industry

Issues facing traders to be resolved: LCCI president

LAHORE: LCCI President Mian Abuzar Shad held a detailed and productive meeting with the delegations of traders and...

Published 02 Oct, 2024 06:19am

Industry

Exporters vow to raise rice exports to $5bn by 2025

LAHORE: Rice exporters expressing their pleasure in achieving the USD 4 billion export mark have vowed to take the...

Published 02 Oct, 2024 06:19am

Murad invites Chinese businesspeople to invest in electric buses, bikes

KARACHI: Sindh Chief Minister Syed Murad Ali Shah, in a meeting with a delegation of Chinese investors led by...

Published 02 Oct, 2024 06:19am

Companies

Sateri targets Pakistani market to increase share of lyocell

KARACHI: Sateri, a leading global producer of Man-Made Cellulosic Fiber (MMCF), is set to enhance its presence in...

Published 02 Oct, 2024 06:19am

Meeting discusses ML-1, Thar coal rail line

KARACHI: A meeting on Tuesday was held between Federal Secretary Railways, Mazhar Ali Shah and Chief Secretary Sindh...

Published 02 Oct, 2024 06:19am

Chinese business delegation visits TDAP head-office

KARACHI: On the occasion of China’s National Day, a high-profile Chinese business delegation visited the Trade...

Published 02 Oct, 2024 06:19am

Digital verification of directors: SECP revises procedure for Form-9 filing

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has revised procedure for filing of return...

Published 02 Oct, 2024 06:19am

Money & Banking

Japanese yen and Swiss franc gains

NEW YORK: Safe haven currencies the Japanese yen and Swiss franc gained on Tuesday after news reports that Iran is...

Published 02 Oct, 2024 06:19am

Money & Banking

Asian FX weakens against dollar

BENGALURU: The Malaysian ringgit fell more than 1% on Tuesday as emerging Asian currencies lost ground against a...

Published 02 Oct, 2024 06:19am

Companies

MNC deposits Rs15m penalty into exchequer

ISLAMABAD: A multinational company has deposited a penalty of Rs15 million into the national exchequer in line with...

Published 02 Oct, 2024 06:19am

Etisalat: govt contemplating finding middle ground to resolve payment issue

ISLAMABAD: The government is doubtful of getting the entire amount, as it is contemplating a middle ground to...

Updated 02 Oct, 2024 11:53am

Industry

TMA raises concerns over govt plan to disconnect gas supply to CPPs

KARACHI: The Towel Manufacturers Association (TMA) has voiced serious concerns about the government’s decision to...

Published 02 Oct, 2024 06:19am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Nov 27	277.03
USD PKR Interbank Buying / Nov 27	277.83
USD to Japanese Yen / Nov 27	151.96
USD to Swiss Franc / Nov 27	0.88
Pound Sterling to USD / Nov 27	1.26
Euro to USD / Nov 27	1.05

Stock	Volume
S&P 500 / Nov 26	6,021.63
Nasdaq / Nov 26	19,175.58
Dow Jones / Nov 26	44,860.31
India Sensex / Nov 27	80,416.35
Tokyo Nikkei / Nov 27	38,134.97
Hang Seng / Nov 27	19,595.16
FTSE 100 / Nov 27	8,261.85
Germany DAX 30 / Nov 27	19,236.54

Item	Value
Karachi Cotton PKR/37.32 KG / Nov 26	17,685
Gold 10 Grams PKR / Nov 26	239,716
Crude Oil USD/Barrel / Nov 27	69.12
Gold Spot USD/Ounce / Nov 27	2,647.32
Cotton US¢/pound / Nov 27	71.71
Petrol/Litre / Nov 28	248.38

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Nov 28 786 Investments Limited(786)	6.48 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Nov 28 Al-Abbas Sugar Mills Limited(AABS)	610.84 ▼ 0.00 (0.00%)
Agro Allianz / Nov 28 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Nov 28 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Nov 28 Ali Asghar Textile Mills Limited(AATM)	68.52 ▼ 0.00 (0.00%)
Allied Bank / Nov 28 Allied Bank Limited(ABL)	125.50 ▼ 0.00 (0.00%)
Abbott Lab. / Nov 28 Abbott Laboratories (Pakistan) Limited(ABOT)	917.87 ▼ 0.00 (0.00%)
Abson Ind. / Nov 28 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Nov 28 Alfalah Consumer Index ETF.(ACIETF)	11.82 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Nov 28 786 Investments Limited(786)	6.48 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Nov 28 Al-Abbas Sugar Mills Limited(AABS)	610.84 ▲ 0.00 (0.00%)
Agro Allianz / Nov 28 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Nov 28 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Nov 28 Ali Asghar Textile Mills Limited(AATM)	68.52 ▲ 0.00 (0.00%)
Allied Bank / Nov 28 Allied Bank Limited(ABL)	125.50 ▲ 0.00 (0.00%)
Abbott Lab. / Nov 28 Abbott Laboratories (Pakistan) Limited(ABOT)	917.87 ▲ 0.00 (0.00%)
Abson Ind. / Nov 28 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Nov 28 Alfalah Consumer Index ETF.(ACIETF)	11.82 ▲ 0.00 (0.00%)

Stock	Volume
K-Electric Ltd. / Nov 28 K-Electric Limited(KEL)	101,636,133 ▲ 0.00
B.O.Punjab / Nov 28 The Bank of Punjab(BOP)	92,023,190 ▲ 0.00
Hascol Petrol / Nov 28 Hascol Petroleum Limited(HASCOL)	73,320,431 ▲ 0.00
Fauji Foods Ltd / Nov 28 Fauji Foods Limited(FFL)	54,116,789 ▲ 0.00
Sui South Gas / Nov 28 Sui Southern Gas Company Limited(SSGC)	54,088,119 ▲ 0.00
Treet Battery / Nov 28 Treet Battery Limited(TBL)	49,797,748 ▲ 0.00
Pace (Pak) Ltd. / Nov 28 Pace (Pakistan) Limited(PACE)	47,465,434 ▲ 0.00
WorldCall Telecom / Nov 28 Worldcall Telecom Limited(WTL)	44,206,223 ▲ 0.00
Cnergyico PK / Nov 28 Cnergyico PK Limited(CNERGY)	34,058,498 ▲ 0.00

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