News Archives for Business & Finance - 2024-10-07

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Business & Finance - 2024-10-07

Companies

Regal Automobiles gets nod to manufacture Pakistan’s first electric SUV, price set at Rs8.399mn

Becomes second four-wheel carmaker to receive licence from Engineering Development Board for electric vehicles

Published 07 Oct, 2024 10:08pm

Bullion Rate

Gold price per tola increases Rs200 in Pakistan

After decreasing in the last session, gold prices in Pakistan increased on Monday in line with their gain in...

Published 07 Oct, 2024 03:30pm

Forex

Kenyan shilling steady, to remain level this week, traders say

NAIROBI: Kenya’s shilling was steady against the dollar on Monday, and is expected to remain level in the coming...

Published 07 Oct, 2024 01:28pm

Stocks

FTSE 100 opens slightly higher; precious metal miners cap gains

The UK’s benchmark FTSE 100 started the week on a higher note, supported by a broad-based rally and a softer jobs...

Published 07 Oct, 2024 01:26pm

Stocks

European stocks slip as real estate, utilities drag

European stocks slipped on Monday as the initial euphoria over strong US jobs data last week faded and...

Published 07 Oct, 2024 01:19pm

Stocks

Japan leads Asia stock rally, dollar gains after blowout US payrolls

TOKYO: Asian stocks rallied and the dollar reached a fresh seven-week peak on the yen on Monday after blowout US...

Published 07 Oct, 2024 12:15pm

Energy

China to remain world’s top LNG buyer in 2024-25, IEA says

HIROSHIMA: China is set to remain the world’s top buyer of liquefied natural gas (LNG) this year and next because of...

Published 07 Oct, 2024 12:10pm

Commodities

Copper hovers near $10,000 as traders await more cues

London copper prices rose on Monday to hover near the $10,000 per-metric-ton level, as market participants looked...

Published 07 Oct, 2024 11:58am

Commerzbank would lose clients in UniCredit merger, German lender’s CEO says

FRANKFURT: Commerzbank and UniCredit did not discuss a merger at a recent meeting, the German lender’s CEO Bettina...

Published 07 Oct, 2024 11:51am

Stocks

Led by oil & gas sector, KSE-100 gains nearly 1,400 points to settle at record high

Index closes at 84,910 as investors seem bullish on 'recovering' Pakistan's economy

Updated 07 Oct, 2024 09:42pm

Commodities

Palm falls on weaker Chicago soyoil

KUALA LUMPUR: Malaysian palm oil futures inched lower on Monday, mirroring losses in the Chicago soyoil market but a...

Published 07 Oct, 2024 11:39am

ECB will probably cut rates in Oct on risk of too low inflation: Villeroy

FRANKFURT: The European Central Bank will probably cut interest rates on Oct 17 as economic growth is weak and this...

Published 07 Oct, 2024 11:29am

Mutual Funds

Philippines fully awards $353mn T-bill offer

MANILA: Following are the results of the Philippine Bureau of the Treasury’s (BTr) auction of T-bills on Monday:...

Published 07 Oct, 2024 11:21am

Forex

Asian currencies slip after US jobs data, Malaysian ringgit hits three-week low

Most Asian currencies fell on Monday, with the Malaysian ringgit and the Indonesian rupiah sliding the most, while...

Published 07 Oct, 2024 11:19am

Companies

PPL’s subsidiary secures $6mn settlement with Iraq’s Midland Oil Company

PPL Asia E&P B.V. (PPL Asia), a subsidiary of Pakistan Petroleum Limited (PPL), has reached a settlement with...

Updated 07 Oct, 2024 11:30pm

Exchange

Rupee marginally declines against US dollar

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

Updated 07 Oct, 2024 06:50pm

Commodities

South Korea bought about 60,000 metric tons soymeal, traders say

HAMBURG: The Korea Feed Association (KFA) purchased around 60,000 metric tons of soymeal on Friday, European traders...

Published 07 Oct, 2024 10:48am

Adani Group in talks to buy Heidelberg’s Indian cement operations, ET reports

BENGALURU: The Adani Group is in talks to buy the Indian cement operations of Germany’s Heidelberg Materials in a...

Published 07 Oct, 2024 10:43am

Mutual Funds

Indian bond yields seen inching up as 10-year US yield nears 4%

MUMBAI: Indian bond yields are expected to trend higher in early trading on Monday, tracking a spike in US yields...

Published 07 Oct, 2024 10:39am

Forex

Indian rupee to remain moored at 84/USD after 50 bps Fed rate cut priced out

MUMBAI: The Indian rupee is expected to hold near its all-time low on Monday after a blowout US jobs report prompted...

Published 07 Oct, 2024 10:35am

Bullion Rate

Gold inches lower as US jobs data cements bets for smaller rate cut

Gold prices eased on Monday as bets firmed for a smaller US rate cut in November after a surprisingly strong jobs...

Published 07 Oct, 2024 10:32am

Stocks

Hong Kong shares hit 2-1/2-year high ahead of China’s return

SINGAPORE: Hong Kong shares hit their highest in more than two years on Monday, with stocks in tech and tourism...

Published 07 Oct, 2024 10:29am

Stocks

Indian shares set to open higher

Indian shares are set to open higher on Monday after logging losses for five straight sessions, and tracking Asian...

Published 07 Oct, 2024 10:27am

Stocks

Australian shares edge higher as banks and miners gain

Australian shares edged higher on Monday, as gains in banks and miners outweighed losses in gold and real estate...

Published 07 Oct, 2024 10:25am

Stocks

Nikkei rallies on weaker yen, Wall Street gains

TOKYO: Japan’s Nikkei share average rose in early trade on Monday, supported by Wall Street’s gains on Friday and a...

Published 07 Oct, 2024 10:23am

Forex

Dollar holds gains made on US jobs data and Middle East flare-up

SINGAPORE: Japan’s yen fell to its lowest in nearly two months and other major currencies too were grappling with...

Published 07 Oct, 2024 10:18am

Energy

Oil rises 3% as Middle East war makes investors end bearish bets

NEW YORK: Oil prices rose more than 3% on Monday, with Brent surpassing $80 per barrel for the first time since...

Updated 07 Oct, 2024 10:10pm

Commodities

Iran’s SLAL tenders for 120,000 T each corn and barley, traders say

HAMBURG: Iranian state-owned animal feed importer SLAL has issued international tenders to purchase up to 120,000...

Published 07 Oct, 2024 10:12am

Krafters, HAP join hands to uplift SMEs, home-based workers

PESHAWAR: Krafters, an e-commerce platform has signed a memorandum of understanding (MoU) with Handicrafts...

Published 07 Oct, 2024 07:43am

Cotton & Textile

Weekly Cotton Review: PCGA predicts 60pc decline in production; prices remain stable

KARACHI: Pakistan Cotton Ginners Association (PCGA) has predicted an alarming 60 percent decline in cotton...

Published 07 Oct, 2024 07:41am

Money & Banking

BoK holds 8th Regional Agri Coordination body meeting

PESHAWAR: The Bank of Khyber (BoK) held the 8th Regional Agriculture Coordination Committee meeting at its Head...

Published 07 Oct, 2024 07:30am

Taxes

ETO vows to expand user-friendly services, end agents’ role

ISLAMABAD: Director Excise & Taxation Department, Islamabad, Bilal Azam has assured his department’s ...

Published 07 Oct, 2024 07:28am

Industry

Syed Afzal elected unopposed as Chairman CAP

LAHORE: Syed Afzal Ur Rehman has been elected unopposed as Chairman of the Constructors Association of Pakistan ...