News Archives for Business & Finance - 2024-10-03

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Business & Finance - 2024-10-03

Forex

IMF inflow: SBP-held foreign exchange reserves hit 2.5-year high, shoot above $10.7bn

Total liquid foreign reserves held by the country stand at $15.983 billion

Updated 03 Oct, 2024 10:12pm

Stocks

Gulf bourses end lower on heightened regional tensions

Stock markets in the Gulf ended lower on Thursday as markets weighed the risk of a widening conflict in the region,...

Published 03 Oct, 2024 07:15pm

Commodities

Asia rice: Asian prices plunge as India eases export curbs

Rice export prices in Asia dropped sharply this week after India, the world’s largest exporter of the staple, eased...

Published 03 Oct, 2024 06:16pm

Stocks

Indian shares log worst session in 2 months as deepening Mideast conflict alarms investors

A deep selloff pushed Indian shares to their worst session in two months on Thursday, as anxious investors worried...

Published 03 Oct, 2024 05:50pm

Stocks

Sri Lanka shares little changed as communication services drops, IT gains

CSE All Share index inched down to close 0.04% lower at 11,929.99

Published 03 Oct, 2024 05:48pm

Commodities

Copper pulls back on geopolitics, firm dollar, China doubts

LONDON: Copper prices retreated on Thursday, hit by tense geopolitics, a strong dollar and uncertainty about how...

Published 03 Oct, 2024 05:45pm

Commodities

Palm slides on profit-taking and Chicago soyoil

KUALA LUMPUR: Malaysian palm oil futures declined on Thursday, as profit taking and the weakness in the Chicago...

Published 03 Oct, 2024 05:41pm

Commodities

Cotton arrival in Pakistan slumps in September 2024

Cotton arrival in Pakistan registered a massive decline of 59% as of September 30, 2024 compared to the same period...

Updated 03 Oct, 2024 09:46pm

Stocks

Major Gulf markets ease on fears of wider regional conflict

Major stock markets in the Gulf fell in early trade on Thursday, extending losses from the previous session, after...

Published 03 Oct, 2024 03:01pm

Forex

Russian rouble at lowest level for a year against yuan

MOSCOW: The rouble fell to its lowest level against China’s yuan since Oct. 11, 2023 on Thursday ahead of a Russian...

Published 03 Oct, 2024 02:56pm

Forex

South African rand seesaws against buoyant dollar

JOHANNESBURG: The South African rand wavered on Thursday against a buoyant dollar, as tensions simmered in the...

Published 03 Oct, 2024 02:54pm

Stocks

Oil rallies, stocks mostly retreat on Middle East tensions

LONDON: Oil prices jumped and major stock markets mostly retreated Thursday as investors reacted to fears of...

Updated 03 Oct, 2024 05:03pm

Bullion Rate

Gold price per tola decreases Rs1,100 in Pakistan

After increasing in the last session, gold prices in Pakistan declined on Thursday in line with their decrease in...

Updated 03 Oct, 2024 05:18pm

Companies

Manufacturing HIV drug in Pakistan: Ferozsons partners with US-based Gilead

Ferozsons Laboratories Limited (Ferozsons), a Pakistani pharmaceutical company, has entered into a non-exclusive...

Updated 03 Oct, 2024 07:57pm

Stocks

Boosted by positive indicators, KSE-100 surges over 750 points to close at record high

Buying seen largely across all index-heavy sectors as index settles at its highest closing of 82,721.76

Updated 03 Oct, 2024 09:19pm

Commodities

Copper falls as China stimulus effect wears off in thin holiday trade

Copper prices edged down on Thursday in thin trading, as markets in top consumer China are closed for a week-long...

Published 03 Oct, 2024 11:54am

Commodities

Palm falls, tracking losses in Chicago soyoil and profit-taking

KUALA LUMPUR: Malaysian palm oil futures fell on Thursday, as investors booked profits and a weakness in the Chicago...

Published 03 Oct, 2024 11:52am

Exchange

Rupee sees marginal decline against US dollar

Currency settles at 277.74 against greenback in inter-bank market

Updated 03 Oct, 2024 10:21pm

Stocks

Tokyo rallies on weak yen, Hong Kong reverses after surge

HONG KONG: Japanese shares rallied Thursday as the yen extended losses after the new prime minister dampened...

Published 03 Oct, 2024 11:09am

Stocks

Hong Kong stocks tumble more than 3% after weeklong surge

HONG KONG: Hong Kong stocks sank more than three percent on profit-taking in Thursday’s morning session after...

Published 03 Oct, 2024 11:06am

Energy

TotalEnergies plans to grow oil and gas production until 2030

PARIS: French energy giant TotalEnergies has announced plans to increase its oil and gas production until 2030, as...

Published 03 Oct, 2024 11:04am

Commodities

Wheat pauses for breath as Black Sea supply fears fuel rally

CANBERRA: Chicago wheat futures took a breather in early trading on Thursday after surging to 3-1/2-month highs as...

Published 03 Oct, 2024 10:55am

Bullion Rate

Gold rangebound as investors brace for key US economic data

Gold prices were trading in a tight range on Thursday as traders remained on the sidelines ahead of a key US...

Published 03 Oct, 2024 10:52am

Stocks

Australian shares almost flat as mining gains counter energy losses

Australian shares struggled for momentum on Thursday as gains in miners countered losses in energy stocks, while...

Published 03 Oct, 2024 10:32am

Mutual Funds

India bond yields seen little changed; US jobs data eyed

MUMBAI: Indian government bond yields are expected to be little changed on Thursday as traders await key US jobs...

Published 03 Oct, 2024 10:22am

Forex

Indian rupee likely to decline on dollar strength, Middle East risks

MUMBAI: The Indian rupee is poised to open weaker on Thursday, after a measure of how the US labour market was...

Published 03 Oct, 2024 10:21am

Stocks

Japan’s Nikkei bounces on PM Ishiba’s dovish rate comments, weaker yen

TOKYO: Japan’s Nikkei share average rebounded on Thursday, buoyed by a softer yen as Prime Minister Shigeru Ishiba’s...

Published 03 Oct, 2024 10:17am

Forex

Dollar hits one-month peak to yen as Fed seen taking time with rate cuts

TOKYO: The dollar rose to a one-month high versus the yen on Thursday as robustness in the US jobs market backed the...

Published 03 Oct, 2024 10:14am

Stocks

Indian shares slip on risk aversion as Middle East conflict intensifies

Indian shares declined on Thursday, weighed down by losses across most sectors as investors worried about an...

Published 03 Oct, 2024 10:10am

Energy

Oil gains nearly 4% on supply concerns as Middle East conflict intensifies

Brent crude futures were up $2.82, or 3.82%, at $76.72 a barrel

Updated 03 Oct, 2024 09:54pm

Industry

Selection of Bilal as new APMIA chairman hailed

ISLAMABAD: The mining industry Tuesday welcomed selection of Muhammad Bilal Khan Mohmand as new Chairman of All...

Published 03 Oct, 2024 08:08am

Industry

Governor vows full support to rice exporters

KARACHI: Muhammad Kamran Khan Tessori, Governor Sindh, has assured his full support to resolve the issues and...

Published 03 Oct, 2024 08:03am

Interest Rates

FPCCI demands lowering policy rate to 9pc

KARACHI: Atif Ikram Sheikh, President Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has...

Published 03 Oct, 2024 07:50am

‘SBP supports digital transformation of financial sector’

KARACHI: Saleem Ullah, Deputy Governor of the State Bank of Pakistan (SBP), emphasised that as a regulatory body, ...

Published 03 Oct, 2024 07:47am

Companies

Mobilink Bank introduces climate insurance to protect small farmers

KARACHI: Mobilink Bank, Pakistan’s leading digital microfinance bank, has introduced Climate Shock Insurance to...

Published 03 Oct, 2024 07:08am

Govt promoting mechanization in agri sector: Minister

LAHORE: The Punjab government is working on an ambitious programme for promoting mechanization in the agricultural...

Published 03 Oct, 2024 06:47am

Suspension of gas supply to CPPs by 2025: KCCI expresses dismay over govt decision

KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Muhammad Jawed Bilwani, while expressing sheer...

Published 03 Oct, 2024 06:45am

Conventional to Islamic mode: SBP sets new bank branch conversion criteria

KARACHI: With a view to further facilitate banks in conversion of their branches, the State Bank of Pakistan (SBP)...

Updated 03 Oct, 2024 09:06am

OPEC+ panel sticks to output policy

LONDON/DUBAI: A meeting of top OPEC+ ministers has kept oil output policy unchanged including a plan to start ...

Published 03 Oct, 2024 06:31am

Innovation in banking drives economic growth: SBP governor

KARACHI: Governor of the State Bank of Pakistan, Jameel Ahmad, has said that innovation in banking is the future and...

Published 03 Oct, 2024 06:31am

Transformation plan & documentation: Traders to assist FBR in implementation

ISLAMABAD: The General Body meeting of the Pakistan Lingerie Manufacturers and Traders Association took place here ...

Updated 03 Oct, 2024 08:24am

Breakthrough in trade relations through formation of Pakistan-Russia Trade, Investment Forum

ISLAMABAD: A major breakthrough has come out in the trade and business sector of Russia and Pakistan and for the...

Published 03 Oct, 2024 06:31am

PSX warns investors of fraudulent social media groups

KARACHI: Pakistan Stock Exchange Limited (PSX) has alerted the investing public regarding the surge in fraudulent...

Published 03 Oct, 2024 06:31am

PIDE seminar: Overregulation termed one of major concerns holding back economy

ISLAMABAD: Speakers at a seminar Wednesday while underlining Pakistan’s economic problems have said that...

Updated 03 Oct, 2024 08:19am

Money & Banking

US dollar higher against euro

NEW YORK: The dollar hit a three-week high against the euro on Wednesday after the ADP national employment report...

Published 03 Oct, 2024 06:31am

Money & Banking

Asian FX subdued as geopolitical risks widen

BENGALURU: Emerging Asian stocks and currencies were largely subdued on Wednesday after escalating tensions in the...

Published 03 Oct, 2024 06:31am

France says coming tax hikes on the wealthy to be ‘temporary’

PARIS: France’s finance minister promised on Wednesday that the tax hikes the government says are required to ...

Published 03 Oct, 2024 06:31am

Jan-Aug: 20.44m mobile handsets made locally

ISLAMABAD: The local manufacturing/ assembling plants manufactured/ assembled 20.44 million mobile handsets during...

Published 03 Oct, 2024 06:31am

Kati demands forensic audit of CPPA-G payments to IPPs

ISLAMABAD: Korangi Association of Trade and Industry (Kati) has sought forensic, technical, and financial audit of...

Published 03 Oct, 2024 06:31am

Industry

Housing projects: minister says govt to introduce new procedure for approvals

LAHORE: Punjab Local Government Minister Zeeshan Rafiq has said that the Punjab government is going to introduce a...

Published 03 Oct, 2024 06:31am

Industry

LCCI president, JI team discuss economy

LAHORE: Merging the strengths of the business community with the vision of political leadership is crucial for...

Published 03 Oct, 2024 06:31am

Industry

Pakhali elected PFVA chairman

KARACHI: Aslam Pakhali has been elected unopposed as the Chairman All Pakistan Fruit & Vegetable Exporters...

Published 03 Oct, 2024 06:31am

Industry

P@SHA elects new leadership

KARACHI: Pakistan’s IT association P@SHA has elected Sajjad Syed as its new Chairman P@SHA for the period of two...

Published 03 Oct, 2024 06:31am

Industry

Mian Ahmad Hassan elected unopposed as Chairman PSMA

LAHORE: Mian Ahmad Hassan elected unopposed as the Chairman of the Pakistan Steel Melters Association (PSMA) in the...

Published 03 Oct, 2024 06:31am

Industry

Usman Aslam Malik made PAAPAM chairman

LAHORE: The Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM) successfully held its...

Published 03 Oct, 2024 06:31am

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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