News Archives for Business & Finance - 2024-10-09

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Business & Finance - 2024-10-09

Stocks

STOXX 600 closes higher with focus on interest rate cuts, US data

European stocks settled higher on Wednesday, bouncing from losses in the previous session as investors focussed on...

Published 09 Oct, 2024 09:47pm

Stocks

London stocks regain ground after worst session in two months

British equities mostly rebounded on Wednesday, with the biggest boost from the real estate sector, while...

Published 09 Oct, 2024 09:44pm

Business & Economy

High-level Saudi business delegation arrives in Pakistan on three-day visit

PM Shehbaz had earlier stated that he expected agreements worth $2 billion to be signed

Updated 10 Oct, 2024 01:06am

Stocks

Most Gulf markets ease amid regional tensions

Most stock markets in the Gulf were subdued on Wednesday, with geopolitical tensions in the region taking center...

Published 09 Oct, 2024 06:39pm

Stocks

Profit-booking pulls Indian shares to losses from central bank-powered gains

Indian shares settled lower on Wednesday, succumbing to another bout of profit booking in the final hour of trading...

Published 09 Oct, 2024 05:01pm

Stocks

Sri Lanka shares end lower as utilities weigh

CSE All-Share index settled down 0.16% at 12,152.15

Published 09 Oct, 2024 04:58pm

Commodities

Aluminium falls on producer selling, uncertainty over China stimulus

LONDON: Aluminium prices fell further on Wednesday, with producers selling forward to lock in high prices and...

Published 09 Oct, 2024 04:56pm

Commodities

Palm oil falls ahead of Malaysia’s supply-demand report

KUALA LUMPUR: Malaysian palm oil futures fell on Wednesday, reversing earlier gains, as market participants awaited...

Published 09 Oct, 2024 04:53pm

Stocks

Citi Pharma intends to construct 200-bed hospital, medical university in Lahore

Citi Pharma Limited (CPHL), a Pakistani pharmaceutical company, will construct a healthcare facility, featuring a...

Published 09 Oct, 2024 03:57pm

Commodities

Gold price per tola decreases Rs3,000 in Pakistan

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

Published 09 Oct, 2024 03:42pm

Forex

Kenyan shilling steady on tea, diaspora FX inflows

NAIROBI: Kenya’s shilling was steady against the dollar on Wednesday, supported by dollar inflows from the tea...

Published 09 Oct, 2024 03:30pm

Stocks

Listed IPPs Hubco, Lalpir call emergency meetings as govt moves towards agreement termination

Independent Power Producers (IPPs) listed at the Pakistan Stock Exchange (PSX), including Hub Power Company Limited...

Updated 09 Oct, 2024 07:20pm

Commodities

Algerian wheat buy in tender seen at 510,000 to 570,000 T, traders say

HAMBURG/PARIS: Algeria’s state grains agency OAIC is believed to have purchased around 510,000 to 570,000 metric...

Published 09 Oct, 2024 01:15pm

Stocks

Defensive sectors prop up Europe’s STOXX 600 as China jitters persist

European stocks eked out gains on Wednesday, aided by defensive sectors, as uncertainty around China’s stimulus...

Published 09 Oct, 2024 12:45pm

India central bank leaves interest rates unchanged

MUMBAI: India’s central bank held interest rates steady on Wednesday but left the door open for future cuts, as...

Published 09 Oct, 2024 12:32pm

Energy

Energy sector reforms: committee approves ISMO formation

ISMO will be an independent multi-player market for electricity generation and procurement in Pakistan

Updated 09 Oct, 2024 09:57pm

Exchange

Rupee ends marginally weaker against US dollar

Currency settles at 277.72 against greenback in inter-bank market

Updated 09 Oct, 2024 06:35pm

Stocks

Chinese shares drop on stimulus upset, Asia tracks Wall St higher

HONG KONG: Stocks in mainland China and Hong Kong tumbled Wednesday on another volatile day after Beijing...

Published 09 Oct, 2024 11:08am

Business & Economy

Pakistan’s remittance inflow stands at $2.85bn in September 2024, up 29% year-on-year

Amount marginally lower than in August 2024
During 3MFY25, remittances up nearly 39% YoY to $8.8 billion as compared to $6.3 billion in 3MFY24

Updated 09 Oct, 2024 10:51pm

Bullion Rate

Gold prices steady with Fed minutes on tap

Gold prices held steady on Wednesday as traders awaited cues on US interest rate policy from the minutes of the...

Published 09 Oct, 2024 10:45am

Commodities

Wheat rises for 3rd session on weather worries; corn, soybeans down

SINGAPORE: Chicago wheat futures gained more ground on Wednesday, with prices supported by dry weather that...

Published 09 Oct, 2024 10:43am

Commodities

Palm opens lower on weaker Dalian oils and stronger ringgit

KUALA LUMPUR: Malaysian palm oil futures fell slightly on Wednesday, weighed by weaker Dalian edible oils and a...

Published 09 Oct, 2024 10:40am

ECB’s Stournaras backs two quarter-point rate cuts in 2024, FT says

European Central Bank (ECB) policymaker Yannis Stournaras is backing two interest rate cuts this year and expects...

Published 09 Oct, 2024 10:38am

Stocks

KSE-100 closes flat after briefly crossing 86,000 mark for the first time

The Pakistan Stock Exchange (PSX) witnessed a volatile session on Wednesday as its benchmark KSE-100 Index crossed...

Updated 10 Oct, 2024 12:19pm

Forex

Indian rupee may inch up tracking Asia FX; RBI decision, Fed minutes loom

MUMBAI: The Indian rupee is expected to rise marginally at open on Wednesday, tracking a recovery on Asian peers and...

Published 09 Oct, 2024 10:19am

Mutual Funds

Indian bond yields may dip post index inclusion; RBI decision on tap

MUMBAI: Indian government bond yields are expected to move marginally lower early in the session on Wednesday after...

Published 09 Oct, 2024 10:16am

Stocks

Australian shares rise on boost from banks

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

Published 09 Oct, 2024 10:11am

Stocks

Japan’s Nikkei climbs on tech boost; 7-Eleven owner jumps

TOKYO: Japan’s Nikkei share average rose on Wednesday, with tech stocks tracking their US peers higher, while shares...

Published 09 Oct, 2024 10:09am

Forex

Dollar steady ahead of Fed minutes, NZ dollar falls after rate cut

TOKYO: The dollar drifted sideways on Wednesday, giving some relief to the yen and other major currencies after a...

Published 09 Oct, 2024 10:06am

Energy

Oil falls as swelling US supply counters Middle East and hurricane risks

NEW YORK: Oil fell by more than $1 a barrel on Wednesday on rising U.S. crude inventories, while the risk of supply...

Updated 09 Oct, 2024 09:40pm

Stocks

Indian shares rise after central bank eases policy stance to ‘neutral’

Indian shares rose on Wednesday, after the central bank kept rates unchanged as expected but eased its policy...

Published 09 Oct, 2024 10:00am

Stocks

Chinese stock rally hits speed bump as investors await fresh cues

SHANGHAI/SINGAPORE: Chinese stocks tumbled on Wednesday alongside their Hong Kong peers, as investors booked profits...

Published 09 Oct, 2024 09:58am

Forex

Asian currencies eke out gains on muted dollar

Most emerging Asian currencies gained ground against a muted dollar on Wednesday as investors stood on the sidelines...

Published 09 Oct, 2024 09:53am

Agriculture and Allied

Agri sector has huge potential to ensure food security: Governor

FAISALABAD: Punjab Governor Sardar Saleem Haider Khan on Tuesday said that the agriculture sector had witnessed 6.6%...

Published 09 Oct, 2024 08:54am

Taxes

Operating in Gwadar Zone: FBR places checks on import of duty-free vehicles

ISLAMABAD: The Federal Board of Revenue (FBR) has placed strict checks on the import of duties and taxes free...

Published 09 Oct, 2024 08:52am

Taxes

‘Mini-budget possibility decreasing due to tax reforms’

KARACHI: Chairman of the FPCCI Advisory Board and National Business Group Pakistan, President Pakistan Businessmen...

Published 09 Oct, 2024 08:50am

ABC announces new executive committee

KARACHI: Kamran Ataullah Khan, CEO & Country Manager of DuPont Pakistan Operations (Pvt) Ltd, has been elected ...

Published 09 Oct, 2024 08:49am

Industry

5th TEXPO 2024 exhibition from Oct 23rd in Karachi

KARACHI: The TEXPO 2024, the flagship event for the textile and leather industry of Pakistan, is set to take place...

Published 09 Oct, 2024 08:47am

Taxes

‘Credible’ forensic lab test must for vehicle auction

ISLAMABAD: The Federal Board of Revenue (FBR) has made it mandatory for the Customs Department to conduct forensic...

Published 09 Oct, 2024 08:33am

Industry

Flour crisis feared: ‘Farmers hesitant for wheat sowing in absence of clear policy’

LAHORE: Flour millers have alleged that despite the start of the wheat sowing season, farmers are hesitant to go for...

Published 09 Oct, 2024 08:31am

Governor says foreign investors keen for investment in Pakistan

LAHORE: Punjab Governor, Sardar Saleem Haider Khan said on Tuesday that the country’s economic condition was...

Published 09 Oct, 2024 08:29am

LCCI lauds govt’s steps to review annual agreements with IPPs

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has appreciated the government's proactive measures to...

Published 09 Oct, 2024 08:21am

Industry

President HCSTSI expresses concern over condition of Auto Bhan Road

HYDERABAD: Muhammad Saleem Memon, President, Hyderabad Chamber of Small Traders & Small Industry (HCSTSI), has...

Published 09 Oct, 2024 08:18am

President urges businesses to invest in Stock Exchange

ISLAMABAD: In order to improve the country’s economy, President Asif Ali Zardari has called for providing a...

Published 09 Oct, 2024 08:16am

Industry

Directives regarding TDAP board member: Senate panel to refer MoC’s defiance matter to body

ISLAMABAD: The Senate Standing Committee on Commerce on Tuesday unanimously decided to refer the matter of ...

Published 09 Oct, 2024 06:26am

Taxes

LHC issues order on ‘enhanced rates of WHT on late filers’

ISLAMABAD: Lahore High Court (LHC) has declared that the enhanced rates of withholding tax on late filers of income...

Published 09 Oct, 2024 06:26am

Govt debt hits all-time high of Rs70.36trn by Aug-end

KARACHI: The federal government’s total debt stocks crossed Rs 70 trillion mark at the end of August 2024 primarily...

Updated 09 Oct, 2024 08:53am

NPMC notes significant decline in inflation

ISLAMABAD: National Price Monitoring Committee (NPMC) meeting revealed significant declining trend in inflation over...

Updated 09 Oct, 2024 09:33am

SME sector: SBP revises per party exposure limits

KARACHI: Aimed at facilitating the SME sector, the State Bank of Pakistan (SBP) has revised the per party exposure...

Published 09 Oct, 2024 06:26am

Regulatory retail portfolio: SBP ups limit for banks to Rs300m

KARACHI: The State Bank of Pakistan (SBP) has announced an increase in the regulatory retail portfolio limit for...

Published 09 Oct, 2024 06:26am

Companies

Thomson Reuters to sell FindLaw business to Internet Brands

NEW YORK: Thomson Reuters said on Thursday that it was selling its FindLaw business to Internet Brands. FindLaw...

Published 09 Oct, 2024 06:26am

Ahsan reveals SMEs’ potential of $40-60bn export in next five years

ISLAMABAD: Minister for Planning, Development and Special Initiatives Ahsan Iqbal has said that the small and medium...

Published 09 Oct, 2024 06:26am

Companies

Jazz to completely phase out 3G services by Nov

ISLAMABAD: In a significant move for Pakistan’s digital landscape, Jazz is set to become the first telecom ...

Published 09 Oct, 2024 06:26am

Taxes

FBR urged to extend deadline for filing tax returns

ISLAMABAD: Tax advisers have requested the Federal Board of Revenue (FBR) to extend the date for filing of returns ...

Published 09 Oct, 2024 06:26am

Companies

Engro Fertilizers launches ‘UgAi’ app

KARACHI: In a bid to revolutionize the agriculture sector, Engro Fertilizers has launched “UgAi”, the first...

Published 09 Oct, 2024 06:26am

US trade deficit contracts as exports rise to record high

WASHINGTON: The US trade deficit narrowed sharply in August as exports increased to a record high, suggesting that...

Published 09 Oct, 2024 06:26am

Money & Banking

Dollar steady against major currencies

NEW YORK: The dollar held steady near seven-week highs against major currencies on Tuesday as investors assessed the...

Published 09 Oct, 2024 06:26am

Money & Banking

Most Asia FX struggle on Middle East tensions

BENGALURU: Most emerging Asian currencies were subdued and equities traded mixed on Tuesday, as escalating conflict...

Published 09 Oct, 2024 06:26am

Industry

PTA seeks immediate withdrawal of export of live animals’ decision

KARACHI: It is unveiled from newspapers that the government is considering for the export of live animals for which...

Updated 09 Oct, 2024 08:16am

KP generates only 7pc of total annual receipts: CM’s aide

PESHAWAR: Advisor to KP CM on Finance, Muzammil Aslam Khyber Pakhtunkhwa receives 93 percent of funds from the...

Updated 09 Oct, 2024 08:23am

Taxes

‘Charging fees for rendering services not part of turnover’

LAHORE: A freight forwarding agent has proved that charging fees for rendering services cannot be treated as part of...

Updated 09 Oct, 2024 08:40am

CCP’s efforts progress in promoting fair competition, enhancing market transparency

ISLAMABAD: The Competition Commission of Pakistan (CCP) has made substantial progress in its efforts to promote fair...

Updated 09 Oct, 2024 08:42am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Nov 25	277.83
USD PKR Interbank Buying / Nov 25	277.73
USD to Japanese Yen / Nov 27	152.46
USD to Swiss Franc / Nov 27	0.89
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
India Sensex / Nov 26	80,004.06
Tokyo Nikkei / Nov 26	38,152.61
Nasdaq / Nov 26	19,175.58
Hang Seng / Nov 26	19,249.91
FTSE 100 / Nov 26	8,258.61
Dow Jones / Nov 26	44,860.31
Germany DAX 30 / Nov 26	19,295.98

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	68.80
Gold Spot USD/Ounce / Nov 27	2,637.94
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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