News Archives for Business & Finance - 2024-10-11

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Business & Finance - 2024-10-11

Industry

ECC allows additional export of 500,000 MT of surplus sugar

Decision taken in view of availability of sufficient surplus stocks, Finance Division says

Updated 11 Oct, 2024 10:36pm

Stocks

S&P 500, Dow rise on boost from big bank earnings

The S&P 500 rose and the Dow hit a record high on Friday, driven by gains in major banks following third-quarter...

Published 11 Oct, 2024 08:20pm

Stocks

KSE-100 ends marginally positive but after seeing selling pressure

The KSE-100 Index closed nearly flat on Friday after the index swayed in both directions amid concerns related to...

Updated 11 Oct, 2024 10:31pm

Energy

Global LNG: Asian spot LNG slips on tepid demand, ample supply

SINGAPORE: Asian spot liquefied natural gas (LNG) slightly slipped this week as demand remains tepid amid ample...

Published 11 Oct, 2024 05:21pm

Forex

India’s FX reserves halt 7-week rising streak, come off record high

MUMBAI: India’s foreign exchange reserves fell for the first time in eight weeks and came off a record high to stand...

Published 11 Oct, 2024 05:09pm

Stocks

Fertiglobe boosts Abu Dhabi, Dubai extends gain

Stock exchanges in United Arab Emirates closed higher on Friday, with Abu Dhabi boosted by a surge in Adnoc and OCI-...

Published 11 Oct, 2024 05:02pm

Stocks

Foreign outflows, earnings anxieties topple Indian shares for second week

Indian benchmarks logged daily and weekly losses on Friday, weighed down by foreign outflows, slowing corporate...

Published 11 Oct, 2024 04:59pm

Stocks

Sri Lanka shares end higher boosted by energy, IT gains

CSE All Share index settled up 1.07% at 12,294.03 points

Published 11 Oct, 2024 04:55pm

Commodities

Aluminium rises on Guinea raw material supply concerns

LONDON: Aluminium prices rose in London on Friday on concerns that supply disruptions from major exporter of the...

Published 11 Oct, 2024 04:53pm

Commodities

Palm surges on rival oils and cargo surveyor data, logs 4th weekly gain

KUALA LUMPUR: Malaysian palm oil futures rose more than 2% on Friday and logged a fourth straight weekly gain,...

Published 11 Oct, 2024 04:51pm

Forex

Kenyan shilling will stay steady vs dollar, traders say

NAIROBI: Kenya’s shilling was steady against the dollar on Friday, and is expected to remain so for the next week,...

Published 11 Oct, 2024 04:05pm

Stocks

FTSE 100 little changed; Sainsbury’s, BP slip

The blue-chip FTSE 100 was flat on Friday, weighed down by losses in Sainsbury’s after its biggest shareholder cut...

Published 11 Oct, 2024 04:04pm

Commodities

Gold price per tola increases Rs2,700 in Pakistan

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

Updated 11 Oct, 2024 04:30pm

Companies

Pak Suzuki to discontinue its Bolan, launch ‘Every’ in Pakistan

Pak Suzuki Motor Company has formally announced the launch of its new model ‘Every’, ending decades-long production...

Published 11 Oct, 2024 03:31pm

Stocks

European stocks dip as China’s stimulus uncertainty weighs

European stocks dipped on Friday as nervous investors awaited updates on China’s stimulus plans, while French...

Published 11 Oct, 2024 03:21pm

Business & Economy

‘Living standards’: Pakistan lagging behind regional peers, says IMF

The International Monetary Fund (IMF) said Pakistan has “moved further and further behind” its regional peers in...

Updated 11 Oct, 2024 09:21pm

Business & Economy

IMF flags risks to Pakistan’s repayment capacity

In staff report, lender says risks, notably from high public debt and gross financing needs, low gross reserves and sociopolitical factors, could jeopardise policy implementation and erode repayment capacity and debt sustainability

Updated 11 Oct, 2024 10:31pm

Money & Banking

SBP directs banks to install at least 5MP CCTV cameras, sets new guidelines

The State Bank of Pakistan (SBP) has directed all banks and microfinance institutions to enhance the operations of...

Published 11 Oct, 2024 02:35pm

Companies

Pakistan’s listed firms announce key partnerships with Saudi companies

Pakistan’s listed companies, including Citi Pharma Limited and Pakistan Cables, have entered into agreements with...

Updated 11 Oct, 2024 10:12pm

South Asia

India’s Adani Enterprises raises $500mn via share sale, sources say

MUMBAI: Billionaire Gautam Adani’s flagship firm Adani Enterprise has raised $500 million via a share sale to local...

Published 11 Oct, 2024 01:48pm

Commodities

Wheat firms, set for 3rd week of gains on supply worries

SINGAPORE: Chicago wheat futures gained more ground on Friday, with the market poised for a third straight weekly...

Published 11 Oct, 2024 12:27pm

Mutual Funds

JGB yields retreat from multi-week peaks as US yields decline

TOKYO: Japanese government bond (JGB) yields declined on Friday, tracking US Treasury yields, and easing from...

Published 11 Oct, 2024 12:11pm

Commodities

India’s September palm oil imports fell over 33% m/m, trade body says

India’s palm oil imports in September fell more than 33% from August to 527,314 metric tons, the Solvent Extractors’...

Published 11 Oct, 2024 11:58am

Forex

Rupee strengthens marginally against US dollar

Currency settles at 277.64 against greenback in inter-bank market

Updated 11 Oct, 2024 10:30pm

Stocks

Asian markets mixed after Wall St drop, Shanghai dips before briefing

HONG KONG: Most Asian markets were mixed Friday as investors digested disappointing US inflation data that further...

Published 11 Oct, 2024 11:12am

Forex

Australia, NZ dollars set for a second week of losses, await China stimulus

SYDNEY: The Australian and New Zealand dollars are each poised to log a second straight week of declines, with their...

Published 11 Oct, 2024 10:02am

Forex

Indian rupee impasse to persist; Fed outlook barely affected by US inflation data

MUMBAI: The Indian rupee is likely to open nearly flat on Friday and hold a narrow range after US inflation data did...

Published 11 Oct, 2024 10:00am

Mutual Funds

Indian bond yields may track US peers higher before debt sale

MUMBAI: Indian government bond yields are expected to move marginally higher in early trading on Friday, as US...

Published 11 Oct, 2024 09:57am

Commodities

Palm up on rival oils; stronger ringgit, weaker crude oil caps gains

KUALA LUMPUR: Malaysian palm oil futures opened higher on Friday, tracking the strength of rival edible oils, but a...

Published 11 Oct, 2024 09:37am

Bullion Rate

Gold drifts higher after data supports US rate-cut bets

Gold prices climbed on Friday after recent data supported bets for a Federal Reserve interest rate cut next month,...

Published 11 Oct, 2024 09:34am

Stocks

Japan’s Nikkei firms on Fast Retailing, chip share gains

TOKYO: Japan’s Nikkei share average rose on Friday, buoyed by index heavyweight Fast Retailing and major...

Published 11 Oct, 2024 09:31am

Stocks

Australian shares slip as miners and banks drag; set for weekly gain

Australian shares were on track for a weekly rise, even as the market fell on Friday as losses in miners and banks...

Published 11 Oct, 2024 09:26am

Stocks

China stocks open down, investors anticipate more stimulus

SHANGHAI: China stocks opened down on Friday, as investors cautiously await further policy announcements from a...

Published 11 Oct, 2024 09:21am

Forex

Dollar bulls suffer setback as traders add to Fed cut bets

TOKYO: The US dollar fell from two-month highs hit overnight versus its major peers after signs of weakness in the...

Published 11 Oct, 2024 09:18am

Energy

Oil on track for weekly climb on potential Mideast supply disruption

Brent crude oil futures down 20 cents, or 0.25%, at $79.20 a barrel

Updated 11 Oct, 2024 09:17pm

Stocks

Financials drag Indian shares lower at open

Indian shares opened marginally lower on Friday, dragged by financials while the country’s top software company Tata...

Published 11 Oct, 2024 09:13am

Money & Banking

China’s yuan inches higher

SHANGHAI: China’s yuan inched higher against the dollar on Thursday, as the central bank’s latest move to prop ...

Published 11 Oct, 2024 06:58am

Money & Banking

Dollar edges down against yen

NEW YORK: The US dollar edged lower against the yen on Thursday after data showed signs of labor market weakness and...

Published 11 Oct, 2024 06:52am

Agriculture and Allied

Maryam to launch activation of ‘Kissan Card’ on 15th

LAHORE: Chief Minister Punjab Maryam Nawaz Sharif will formally launch the activation of the “Kissan Card” on...

Published 11 Oct, 2024 06:30am

Pak-Saudi business forum 2024: Minister gives overview of investment opportunities

ISLAMABAD: Federal Minister for Petroleum Dr Musadik Malik addressing the Pak-Saudi business forum 2024 gave an...

Published 11 Oct, 2024 06:30am

CAEDA wants to establish ‘Pakistan Zero-Tariff Trade Zone’

ISLAMABAD: The China Asia Economic Development Association (CAEDA) wants to establish "Pakistan Zero-Tariff Trade...

Published 11 Oct, 2024 06:30am

Industry

Pakistan’s pharma sector warns 2pc Cess in KP threatens exports to Afghanistan

KARACHI: The recent imposition of 2% cess on exports by the Khyber Pakhtunkhwa (KP) government is raising alarm...

Published 11 Oct, 2024 06:30am

World Bank delegation, CM thoroughly examine $3.1bn Sindh portfolio

KARACHI: Sindh Chief Minister Syed Murad Ali Shah met with a World Bank delegation, headed by Country Director Najy...

Published 11 Oct, 2024 06:30am

High energy prices hitting the poor hardest: World Bank

ISLAMABAD: The World Bank has revealed that high energy prices in Pakistan disproportionately impact the poor, as...

Published 11 Oct, 2024 06:30am

KSA investment minister, 130 investors attend business conference

ISLAMABAD: Under the leadership of Saudi Arabia’s Investment Minister Sheikh Khalid Bin Abdul Aziz Al Faleh, 130...

Published 11 Oct, 2024 06:30am

MENA

Pakistan’s IT sector is keen to show off potential at GITEX Global 2024 in Dubai

DUBAI: Fresh off record exports in the previous fiscal year, Pakistan’s tech sector is gearing up to make the most...

Updated 11 Oct, 2024 07:44am

Chinese PM’s visit to help brighten country’s economic prospects: LCCI

LAHORE: The Lahore Chamber of Commerce and Industry has expressed the optimism that the Chinese Prime Minister’s...

Published 11 Oct, 2024 06:30am

Russia calls on BRICS partners to create alternative to IMF

MOSCOW: Russia, which chairs the BRICS group this year, has called on its partners to create an alternative to the...

Published 11 Oct, 2024 06:30am

Over 7 times the value: Importer accused of selling gears to defence facility

KARACHI: A Karachi-based importer allegedly sold imported mechanical equipment to one of the defense manufacturing...

Published 11 Oct, 2024 06:30am

Insurance companies: SECP proposes increase in minimum paid-up capital requirement

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has proposed to increase the minimum paid-up...

Published 11 Oct, 2024 06:30am

RDA fetches $8.75bn gross inflows till Sept

KARACHI: Gross inflows of Roshan Digital Accounts reached $8.75 billion at the end of September 2024 since its...

Published 11 Oct, 2024 06:30am

Agritech Ltd: NBP approves sale of entire shareholding

KARACHI: The National Bank of Pakistan (NBP) has approved the sale of its entire shareholding in Agritech Limited,...

Published 11 Oct, 2024 06:30am

Companies

Waqar Siddiqui decides to resign from position as Shell Pakistan CEO

KARACHI: Waqar I Siddiqui, the Chief Executive Officer of Shell Pakistan Limited has announced his intention to step...

Published 11 Oct, 2024 06:30am

Industry

Faisal Ahmad elected PSMA (Centre) chairman

LAHORE: Pakistan Sugar Mills Association (Central) on Thursday elected Faisal Ahmed Mukhtar as its chairman for the...

Published 11 Oct, 2024 06:30am

Companies

Unilever exits Russia with sale of all assets to local company

LONDON: Unilever has sold its Russian business to Arnest Group, it said on Thursday, becoming the latest...

Published 11 Oct, 2024 06:30am

Money & Banking

Most Asian currencies subdued

BENGALURU: Most Asian stock markets rose on Thursday, buoyed by hopes that China will soon disclose details of its...

Updated 11 Oct, 2024 06:56am

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 26	153.83
USD to Swiss Franc / Nov 26	0.89
Pound Sterling to USD / Nov 26	1.25
Euro to USD / Nov 26	1.05

Stock	Volume
S&P 500 / Nov 25	5,987.37
Nasdaq / Nov 25	18,054.84
Dow Jones / Nov 25	44,736.57
India Sensex / Nov 26	80,083.15
Tokyo Nikkei / Nov 26	38,266.61
Hang Seng / Nov 26	19,174.25
FTSE 100 / Nov 26	8,253.38
Germany DAX 30 / Nov 26	19,284.47

Item	Value
Gold 10 Grams PKR / Nov 25	244,860.20
Crude Oil USD/Barrel / Nov 26	69.17
Karachi Cotton PKR/37.32 KG / Nov 26	17,685
Gold Spot USD/Ounce / Nov 26	2,623.04
Cotton US¢/pound / Nov 26	71.35
Petrol/Litre / Nov 27	248.38

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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