News Archives for Business & Finance - 2024-10-08

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Business & Finance - 2024-10-08

Stocks

Most Gulf bourses end higher; Egypt falls

Most stock markets in the Gulf ended higher on Tuesday recovering some of their recent losses triggered by worries...

Published 08 Oct, 2024 06:49pm

Commodities

Gold price per tola decreases Rs1,000 in Pakistan

Gold prices in Pakistan decreased on Tuesday in line with their decline in international rates. In the local market,...

Published 08 Oct, 2024 05:17pm

Business & Economy

Chinese engineers killed in Karachi terror attack were involved in debt talks with govt: Aurangzeb

Finance minister says these 'brothers of Pakistan' wanted to create 'win-win situation' in terms of reducing power tariffs in the country
Pakistan’s economy incurs losses to the tune of Rs190 billion per day due to strike and strife, Aurangzeb says

Updated 08 Oct, 2024 08:27pm

Stocks

Indian shares snap six-session losing streak; cenbank policy in focus

Indian shares ended higher on Tuesday, as investors bought the dip following a six-session losing run, while...

Published 08 Oct, 2024 04:57pm

Stocks

Sri Lanka shares end flat as healthcare losses offset IT gains

CSE All Share index settled up 0.05% at 12,171.1

Published 08 Oct, 2024 04:55pm

Commodities

Copper hits two-week low as Chinese stimulus disappoints

LONDON: Copper prices fell on Tuesday to their lowest in two weeks, after top metal consumer China failed to...

Published 08 Oct, 2024 04:52pm

Commodities

Palm falls on profit-taking, weaker Chicago soyoil, crude oil

JAKARTA: Malaysian palm oil futures fell on Tuesday on profit-taking, while declines in Chicago soyoil and crude oil...

Published 08 Oct, 2024 04:49pm

Business & Economy

Pakistan will not lose focus on reforms, Aurangzeb tells foreign investors

Federal Minister for Finance Muhammad Aurangzeb assured international investors that the government will not let go...

Updated 08 Oct, 2024 10:23pm

Forex

Russian rouble weakens against China’s yuan ahead of OFAC licence expiry

MOSCOW: The Russian rouble weakened against the Chinese yuan due to concerns about the impact of the expiration of a...

Published 08 Oct, 2024 03:08pm

Forex

Ugandan shilling stable, seen vulnerable after rate cut

KAMPALA: The Ugandan shilling traded stable on Tuesday, but was seen vulnerable after the central bank loosened its...

Published 08 Oct, 2024 03:06pm

Stocks

Miners, luxury sector drag European shares to two-week lows

European stocks dropped to two-weeks lows on Tuesday, as lack of fresh details over China’s stimulus measures...

Published 08 Oct, 2024 03:03pm

Stocks

Major Gulf bourses edge higher, Arabian Mills jump on debut

Most stock markets in the Gulf edged higher in early trade on Tuesday, recovering some of their recent losses...

Published 08 Oct, 2024 03:01pm

Money & Banking

SBP increases retail portfolio limit to Rs300mn, enhances SME financing exposure cap

The State Bank of Pakistan (SBP) has increased the regulatory retail portfolio limit from Rs180 million to Rs300...

Updated 08 Oct, 2024 10:41pm

Stocks

Hong Kong stocks plunge more than 9%, biggest fall in 16 years

HONG KONG: Hong Kong stocks plunged more than nine percent on Tuesday, their biggest fall in 16 years, after China...

Published 08 Oct, 2024 02:41pm

Forex

China’s yuan falls against strong dollar, stocks surge after holiday

SINGAPORE: China’s yuan fell to its lowest level in nearly three weeks as mainland markets opened on Tuesday after a...

Published 08 Oct, 2024 01:44pm

Stocks

KSE-100 closes above 85,000 for first time as oil & gas sector continues to attract attention

The Pakistan Stock Exchange (PSX) continued its record-breaking streak as the benchmark KSE-100 Index crossed the...

Updated 08 Oct, 2024 10:09pm

Energy

Dawood Lawrencepur transfers 100% stake in Reon Energy to Juniper International

Dawood Lawrencepur Limited (DLL) has transferred its entire shareholding in Reon Energy Limited (REL) to Juniper...

Updated 08 Oct, 2024 05:49pm

Mutual Funds

Japan’s 30-year bond yield slips after strong auction outcome

TOKYO: Japan’s 30-year government bond yield edged down on Tuesday, as an auction for bonds with the same maturity...

Published 08 Oct, 2024 01:08pm

Commodities

Palm falls on profit-taking, weaker Chicago soyoil, crude oil

JAKARTA: Malaysian palm oil futures fell on Tuesday on profit-taking, while declines in Chicago soyoil and crude oil...

Published 08 Oct, 2024 01:06pm

Mutual Funds

Euro zone bond yields drop after 4-day rising streak

Euro zone government bond yields fell on Tuesday after rising for four straight sessions on the back of a selloff in...

Published 08 Oct, 2024 12:54pm

Samsung third-quarter forecast misses expectations

SEOUL: Samsung Electronics said Tuesday it expected third-quarter profits to jump almost three-fold, but fell short...

Published 08 Oct, 2024 12:02pm

China holds off on fresh stimulus but ‘confident’ will hit growth target

BEIJING: China said on Tuesday it was “fully confident” of hitting its growth target this year but held off...

Published 08 Oct, 2024 11:57am

Currency

Rupee remains stable against US dollar

Currency settles at 277.67 against the greenback in inter-bank market

Updated 08 Oct, 2024 10:40pm

Taiwan’s Foxconn says building world’s largest ‘superchip’ plant

TAIPEI: Taiwanese tech giant Foxconn said Tuesday it was building the world’s largest production facility for US...

Published 08 Oct, 2024 11:46am

Stocks

Shanghai stocks pare early surge on stimulus worries amid Asia retreat

HONG KONG: Mainland Chinese markets rallied Tuesday but were well off their morning highs, while Hong Kong tumbled...

Published 08 Oct, 2024 11:14am

Stocks

China markets reopen with a roar after week-long break

SHANGHAI: Chinese shares soared to two-year highs on Tuesday, pushing a blistering rally even further as trade...

Published 08 Oct, 2024 10:40am

Bullion Rate

Gold eases as dollar firms; focus on Fed cues, US data

Gold prices edged lower on Tuesday, pressured by a stronger dollar, while market participants awaited minutes of the...

Published 08 Oct, 2024 10:37am

Mutual Funds

India bond yields fall; FTSE Russell index decision, central bank meet in focus

MUMBAI: Indian government bond yields fell early in the session on Tuesday, amid investor optimism over the...

Published 08 Oct, 2024 10:25am

Forex

Indian rupee to rely on central bank support amid higher US yields, outflows

MUMBAI: The Indian rupee is expected to hold near all-time lows on Tuesday amid the 10-year US Treasury yields...

Published 08 Oct, 2024 10:22am

Stocks

Australian shares edge lower as banks drag; RBA minutes in focus

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

Published 08 Oct, 2024 10:19am

Stocks

Indian shares set to open flat as Middle East jitters weigh

Indian shares are set to open flat on Tuesday, as caution prevails amid a wider Middle East conflict, while...

Published 08 Oct, 2024 10:16am

Stocks

Japan’s Nikkei falls on Wall Street’s declines, stronger yen

TOKYO: Japan’s Nikkei share average fell on Tuesday and seemed set to snap a three-day winning run, weighed down by...

Published 08 Oct, 2024 10:14am

Forex

Dollar holds on to 7-week highs as traders consider US rates outlook

SINGAPORE: The dollar clung to seven-week highs against major currencies on Tuesday as investors ponder the outlook...

Published 08 Oct, 2024 10:08am

Energy

Crude prices fall on possible ceasefire in Lebanon

Brent crude futures were down $3.70, or 4.57%, to $77.23 a barrel

Updated 08 Oct, 2024 10:07pm

LCCI chief urges govt, SBP to ensure ‘adequate’ facilitation

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) President has urged the government and State Bank of...

Published 08 Oct, 2024 07:27am

Energy

Oil rises 3pc as ME war risk makes investors cautious

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

Published 08 Oct, 2024 06:57am

Agriculture and Allied

Agri sector: Punjab govt to leverage Australia's expertise: Minister

LAHORE: The Punjab government is looking to leverage Australia's expertise in agriculture and livestock to enhance...