News Archives for Business & Finance - 2024-10-04

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Business & Finance - 2024-10-04

Stocks

Wall St rises after strong September jobs data boosts market confidence

US stocks surged on Friday, with the S&P 500 near a record high as investors cheered a crucial labor report...

Published 04 Oct, 2024 07:36pm

Stocks

Abu Dhabi index extends losses to seventh session, Dubai closes higher

Abu Dhabi’s index closed down on Friday, extending losses into a seventh session amid tensions between Israel and...

Published 04 Oct, 2024 05:53pm

Forex

India’s forex reserves top $700bn for first time after seven-week surge

MUMBAI: India’s foreign exchange reserves crossed $700 billion for the first time on record, after climbing for...

Updated 04 Oct, 2024 06:43pm

Commodities

Global LNG: Asian spot LNG price flat on weak demand during China holiday

SINGAPORE: Asian spot liquefied natural gas (LNG) remained flat for a second consecutive week, with buyers staying...

Published 04 Oct, 2024 05:30pm

Companies

Pakistan’s leather exporter announces downsizing operations amid economic challenges

Pak Leather Crafts Limited (PLCL), a manufacturer and exporter of leather goods, has announced to downsize its...

Updated 04 Oct, 2024 11:28pm

Stocks

Indian shares post worst week in over 2 years as Mideast fears, foreign outflows weigh

Indian shares fell for a fifth session on Friday and posted their worst week in over two years as concerns about the...

Published 04 Oct, 2024 04:46pm

Stocks

Sri Lanka shares end higher as industrials and financials stocks gain

CSE All Share index settled up 1.04% at 12,053.49

Published 04 Oct, 2024 04:42pm

Commodities

Copper posts weekly loss despite stimulus-driven rally

LONDON: Copper prices were on track for weekly losses on Friday as momentum slowed after stimulus measures from top...

Published 04 Oct, 2024 04:40pm

Commodities

Palm surges on Middle East conflict, records highest weekly gain in 16 months

KUALA LUMPUR: Malaysian palm oil futures closed higher and recorded a weekly gain on Friday, driven by a widening...

Published 04 Oct, 2024 04:38pm

Bullion Rate

Gold price per tola increases Rs1,800 in Pakistan

After decreasing in the last session, gold prices in Pakistan jumped on Friday in line with their increase in...

Updated 04 Oct, 2024 11:34pm

Forex

South African rand gains, focus on Middle East tension and US payrolls data

JOHANNESBURG: The South African rand recuperated some losses in early trade on Friday, ahead of a key US payrolls...

Published 04 Oct, 2024 02:09pm

Stocks

London stocks open higher on energy boost

The continued rise in energy stocks lifted UK shares at the open on Friday, but not by enough to prevent a weekly...

Published 04 Oct, 2024 02:07pm

Forex

Russian rouble firms versus yuan as state’s forex sales set to rise

MOSCOW: The Russian rouble strengthened against the yuan on Friday after receiving support from increased net sales...

Published 04 Oct, 2024 02:05pm

BoE’s Pill urges cautious approach to cutting interest rates

LONDON: Bank of England Chief Economist Huw Pill said the British central bank should move only gradually with...

Published 04 Oct, 2024 02:03pm

Stocks

European shares rise as energy stocks shine on wider Middle East conflict

European shares inched higher on Friday, supported by regional energy stocks after crude oil prices climbed on...

Published 04 Oct, 2024 01:49pm

Sustaining reforms critical for Sri Lanka: IMF

COLOMBO: Sri Lanka’s painful austerity measures were “bearing fruit” and must be sustained, the International...

Published 04 Oct, 2024 12:40pm

Stocks

Hong Kong shares reach again for 20-month peak

SINGAPORE: Hong Kong stocks rose more than 2% on Friday, still cheering China’s massive economic stimulus proposals,...

Published 04 Oct, 2024 12:17pm

Mutual Funds

Japan bonds set for weekly drop as PM Ishiba takes office

SYDNEY: Ten-year Japanese government bonds were sold on Friday and the short-end was headed for its heaviest weekly...

Published 04 Oct, 2024 12:08pm

Commodities

Copper edges up at end of see-saw week

Copper prices rose on Friday, after having see-sawed in holiday-thinned trade through the week as profit booking...

Published 04 Oct, 2024 12:06pm

Forex

Asian FX dip as Mideast tensions occupy centre-stage

Emerging Asian currencies slipped on Friday, with the South Korean won and the Taiwan dollar weakening the most,...

Published 04 Oct, 2024 12:02pm

Stocks

KSE-100 closes above 83k for first time on banking, oil & gas sector rally

The Pakistan Stock Exchange (PSX) maintained its upward momentum as buying continued with Friday’s session...

Updated 04 Oct, 2024 11:27pm

Commodities

Wheat consolidates below 3-1/2-month peak as supply risks loom

CANBERRA: Chicago wheat futures slipped for a second day on Friday, as traders injected some caution into a rally...

Published 04 Oct, 2024 10:56am

Bullion Rate

Gold holds steady as traders wait for US payroll data

Gold prices traded flat on Friday but were slightly down for the week, as market focus shifted to a crucial US...

Published 04 Oct, 2024 10:53am

Commodities

Palm oil opens up tracking Chicago soyoil, weaker ringgit

KUALA LUMPUR: Malaysian palm oil futures rose on Friday, tracking gains in the Chicago soyoil contract and a weaker...

Published 04 Oct, 2024 10:50am

Forex

Rupee records marginal improvement against US dollar

Currency settles at 277.52 against the greenback in inter-bank market

Updated 04 Oct, 2024 11:25pm

Forex

Australian dollar set for solid weekly gains on yen, kiwi

SYDNEY: The Australian dollar is headed for solid weekly gains on the Japanese yen and New Zealand’s kiwi, although...

Published 04 Oct, 2024 10:45am

Mutual Funds

India’s 10-year bond yield hits 3-week high as US peers, oil prices surge

MUMBAI: Indian government bond yields rose in early trade on Friday, with the benchmark 10-year yield hitting a...

Published 04 Oct, 2024 10:43am

Forex

Indian rupee to hold near all-time low on foreign outflows, oil worries

MUMBAI: The Indian rupee is likely to remain anchored near a lifetime low on Friday, hit by concerns over the deluge...

Published 04 Oct, 2024 10:38am

Stocks

Indian shares set to open higher; Bajaj Finance in focus

Indian shares are set to open higher on Friday, with investors expected to buy the dip after a slump in the previous...

Published 04 Oct, 2024 10:22am

Stocks

Asia shares fall, oil set for weekly gains on Mideast risks

SINGAPORE: Asian stocks retreated on Friday while oil prices headed for their sharpest weekly gain in more than a...

Published 04 Oct, 2024 10:20am

Stocks

Nikkei heads for weekly drop as Ishiba rattles markets

SYDNEY: Japanese stocks headed for their steepest weekly fall in a month on Friday as Prime Minister Shigeru...

Published 04 Oct, 2024 10:17am

Forex

Dollar poised for largest weekly gain since April, jobs report in focus

SINGAPORE: The dollar hung around a six-week high on Friday, set for its biggest weekly gain since April due to...

Published 04 Oct, 2024 10:14am

Energy

Oil set for biggest weekly gains in two years on Middle East war risk

NEW YORK: Oil prices rose for a fourth consecutive session on Friday as investors braced for a potential Israeli...

Updated 04 Oct, 2024 11:35pm

Industry

New ghee factories: Ministry urged to create rules, regulations

KARACHI: Sheikh Umar Rehman, Chairman of the Pakistan Vanaspati Manufacturers Association has urged the Ministry of...

Published 04 Oct, 2024 08:09am

Short-term listed corporate Sukuk market: SECP conducts public hearing on proposed regulatory interventions

KARACHI: The Securities and Exchange Commission of Pakistan (SECP) conducted the first-ever public hearing in...

Published 04 Oct, 2024 07:58am

IFRS Sustainability Disclosure Standards: SECP issues survey on adoption

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) is considering to adopt IFRS Sustainability...

Published 04 Oct, 2024 07:57am

Energy

Wapda power projects will generate 11,694MW of power

ISLAMABAD: A parliamentary panel, Thursday, was informed that the under construction Water and Power Development...

Published 04 Oct, 2024 07:39am

Money & Banking

Ringgit, Indonesian rupiah drag Asia FX lower

BENGALURU: Asian emerging market currencies fell on Thursday, with Malaysian ringgit and Indonesia’s rupiah ...

Published 04 Oct, 2024 07:23am

SBP’s reserves hit 2-1/2-year high

KARACHI: The State Bank of Pakistan’s foreign exchange reserves have surpassed the $10 billion mark, reaching...

Published 04 Oct, 2024 06:46am

Generation tariff: KE requests Nepra to declare pending determination

ISLAMABAD: K-Electric on Thursday requested the National Electric Power Regulatory Authority (Nepra) to announce...

Updated 04 Oct, 2024 09:29am

Energy

Nepal signs power export deal with BD, India

KATHMANDU: Nepal signed an agreement with Bangladesh on Thursday to export 40 megawatts of hydroelectricity ...

Published 04 Oct, 2024 06:46am

Companies

Air Link CEO confirms company has imported 2 units of Xiaomi SU7, but talk of assembly plant premature

KARACHI: Air Link Communication CEO Muzzaffar Hayat Piracha confirmed that the company has imported two units of the...

Updated 04 Oct, 2024 11:01am

Local cement despatches continue to shrink at 18pc

LAHORE: Due to increased cement prices because of irrational taxation, coupled with low demand local despatches...

Published 04 Oct, 2024 06:46am

Industry

Pakistan Energy Expo opened: LCCI chief calls for reforms in energy sector

LAHORE: The LCCI President Mian Abuzar Shad on Wednesday called for reforms in energy sector to help resolve grave...

Published 04 Oct, 2024 06:46am

Industry

KPTMA elects Sikandar Kuli Khan Khattak as chairman

PESHAWAR: The Khyber Pakhtunkhwa Textile Mills Association (KPTMA) has elected Sikandar Kuli Khan Khattak of Bibojee...

Published 04 Oct, 2024 06:46am

Companies

KW&SC customers: JazzCash expands bill payment options

KARACHI: JazzCash has expanded its digital payment options for the 1.2 million customers of the Karachi Water &...

Published 04 Oct, 2024 06:46am

Companies

Jazz chief terms Telenor-PTCL merger as significant development

ISLAMABAD: Jazz CEO Aamir Ibrahim stressed the importance of healthy competition and market repair to drive...

Updated 04 Oct, 2024 11:09am

Steel furnaces using locally procured scrap: Govt losing Rs8bn in taxes every month due to not imposing 18pc sales tax

LAHORE: The government is losing nearly Rs 8 billion in taxes every month due to the unexplained reluctance of the...

Published 04 Oct, 2024 06:46am

Industry

Power sector’s transactions: FPCCI calls for thorough forensic audit of CPPA-G

LAHORE: S M Tanveer, Patron-in-Chief of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI-UBG),...

Published 04 Oct, 2024 06:46am

Taxes

FBR reinstates customs official of IIAP

ISLAMABAD: The Federal Board of Revenue (FBR) has reinstated a customs official of Islamabad International Airport...

Published 04 Oct, 2024 06:46am

Taxes

Smuggled petro products at 11,500 fuel stations: FBR developing application to curb sale

ISLAMABAD: The Federal Board of Revenue (FBR) is developing a Geographic Information System-based mobile application...

Published 04 Oct, 2024 06:46am

Taxes

Gangs of cyber criminals: DII (Inland Revenue) directed to start probe

ISLAMABAD: Federal Tax Ombudsman (FTO) has directed Directorate General Intelligence and Investigation (Inland...

Published 04 Oct, 2024 06:46am

Companies

Merger Review of PTCL: CCP undertaking in-depth analysis of telecommunications sector

ISLAMABAD: The Competition Commission of Pakistan (CCP) is undertaking an in-depth analysis of the ...

Published 04 Oct, 2024 06:46am

Companies

Al-Ghazi Tractors Limited launches New Holland NH-850

LAHORE: Al-Ghazi Tractors Limited launched its latest product the New Holland NH-850. The 85-horsepower engine...

Published 04 Oct, 2024 06:46am

Special Investment Facilitation Council: $27bn investments to be materialised in five years: Ahsan

ISLAMABAD: Minister for Planning, Development and Special Initiatives Ahsan Iqbal said that $27 billion investments...

Published 04 Oct, 2024 06:46am

PSMA-Sindh Zone elects office-bearers for 2024-26

KARACHI: The Annual General Meeting and Election of Pakistan Sugar Mills Association-Sindh Zone were held on...

Published 04 Oct, 2024 06:46am

Premium number plates: Country’s first online auction launched

KARACHI: The Provincial Excise and Taxation department has launched Pakistan’s first online auction for premium...

Published 04 Oct, 2024 06:46am

IMF says escalation of Mideast conflict poses significant economic risks

WASHINGTON: The International Monetary Fund said on Thursday an escalation of the conflict in the Middle East could...

Published 04 Oct, 2024 06:46am

CG praises role of American businesses in Pakistan

KARACHI: The Consul General of the United States of America in Karachi Scott Urbom has said that American businesses...

Published 04 Oct, 2024 06:46am

Powers and functions of Customs officials: Frontier Corps Balochistan (North/South) empowered

ISLAMABAD: The Federal Board of Revenue (FBR) has empowered the officers of Frontier Corps Balochistan (North/South)...

Published 04 Oct, 2024 06:46am

Life insurance savings products: Regulatory requirements for sale issued

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has issued regulatory requirements for the sale...

Published 04 Oct, 2024 06:46am

Taxes

Audit affairs: FBR appoints 2 new members

ISLAMABAD: The Federal Board of Revenue (FBR) has appointed two new members of audit affairs including a Member...

Updated 04 Oct, 2024 07:19am

Money & Banking

Dollar hits six-week high on solid data

NEW YORK: The dollar rose to a six-week high on Thursday as data showed a still-solid US economy while safe haven...

Updated 04 Oct, 2024 07:22am

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
Petrol/Litre / Nov 27	248.38
Crude Oil USD/Barrel / Nov 27	69.12
Gold Spot USD/Ounce / Nov 27	2,647.32
Diesel/Litre / Nov 27	255.14

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Nov 27 786 Investments Limited(786)	6.48 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Nov 27 Al-Abbas Sugar Mills Limited(AABS)	610.84 ▼ 0.00 (0.00%)
Agro Allianz / Nov 27 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Nov 27 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Nov 27 Ali Asghar Textile Mills Limited(AATM)	68.52 ▼ 0.00 (0.00%)
Allied Bank / Nov 27 Allied Bank Limited(ABL)	125.50 ▼ 0.00 (0.00%)
Abbott Lab. / Nov 27 Abbott Laboratories (Pakistan) Limited(ABOT)	917.87 ▼ 0.00 (0.00%)
Abson Ind. / Nov 27 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Nov 27 Alfalah Consumer Index ETF.(ACIETF)	11.82 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Nov 27 786 Investments Limited(786)	6.48 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Nov 27 Al-Abbas Sugar Mills Limited(AABS)	610.84 ▲ 0.00 (0.00%)
Agro Allianz / Nov 27 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Nov 27 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Nov 27 Ali Asghar Textile Mills Limited(AATM)	68.52 ▲ 0.00 (0.00%)
Allied Bank / Nov 27 Allied Bank Limited(ABL)	125.50 ▲ 0.00 (0.00%)
Abbott Lab. / Nov 27 Abbott Laboratories (Pakistan) Limited(ABOT)	917.87 ▲ 0.00 (0.00%)
Abson Ind. / Nov 27 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Nov 27 Alfalah Consumer Index ETF.(ACIETF)	11.82 ▲ 0.00 (0.00%)

Stock	Volume
K-Electric Ltd. / Nov 27 K-Electric Limited(KEL)	101,636,133 ▲ 0.00
B.O.Punjab / Nov 27 The Bank of Punjab(BOP)	92,023,190 ▲ 0.00
Hascol Petrol / Nov 27 Hascol Petroleum Limited(HASCOL)	73,320,431 ▲ 0.00
Fauji Foods Ltd / Nov 27 Fauji Foods Limited(FFL)	54,116,789 ▲ 0.00
Sui South Gas / Nov 27 Sui Southern Gas Company Limited(SSGC)	54,088,119 ▲ 0.00
Treet Battery / Nov 27 Treet Battery Limited(TBL)	49,797,748 ▲ 0.00
Pace (Pak) Ltd. / Nov 27 Pace (Pakistan) Limited(PACE)	47,465,434 ▲ 0.00
WorldCall Telecom / Nov 27 Worldcall Telecom Limited(WTL)	44,206,223 ▲ 0.00
Cnergyico PK / Nov 27 Cnergyico PK Limited(CNERGY)	34,058,498 ▲ 0.00

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