News Archives for Business & Finance - 2024-10-14

<<>>

Business & Finance - 2024-10-14

Companies

India’s Reliance profits drop on weak oil-to-chemicals arm

MUMBAI: Indian conglomerate Reliance Industries reported a drop in quarterly profits on Monday, weighed down by its...

Published 14 Oct, 2024 09:19pm

Stocks

S&P 500 hits record high on chip stocks; corporate results, key data in focus

The S&P 500 and Nasdaq rose on Monday, with the benchmark index touching an intraday record high as investors...

Published 14 Oct, 2024 08:42pm

Business & Economy

Pakistan, China agree to further enhance bilateral cooperation in multiple sectors

Two sides sign 13 accords to strengthen multiple cooperation
Inaugurate Gwadar International Airport

Updated 14 Oct, 2024 11:54pm

Companies

Adobe starts roll-out of AI video tools, challenging OpenAI and Meta

Adobe on Monday said it has started publicly distributing an AI model that can generate video from text prompts,...

Published 14 Oct, 2024 07:15pm

Stocks

Gulf markets end mixed on regional conflict, ahead of earnings

Stock markets in the Gulf ended mixed on Monday ahead of third-quarter earnings and with the region still on high...

Published 14 Oct, 2024 06:46pm

Stocks

IT, banks boost Indian shares; domestic inflation data eyed

Indian information technology (IT) and bank stocks lifted domestic shares on Monday, while investors awaited the...

Published 14 Oct, 2024 06:40pm

Stocks

Sri Lankan shares end lower as energy stocks slip

CSE All Share index settled down 0.39% at 12,246.22 points

Published 14 Oct, 2024 06:38pm

Commodities

Copper prices hit by scant details on China stimulus

LONDON: Copper prices dropped on Monday due to a lack of detail on China’s stimulus plans, deflationary pressures in...

Published 14 Oct, 2024 06:35pm

Commodities

Palm erases early gains; speculative buying, short covering caps losses

KUALA LUMPUR: Malaysian palm oil futures reversed early gains to close lower on Monday, as the contract tracked...

Published 14 Oct, 2024 06:27pm

Money & Banking

World Bank says 26 poorest nations in worst financial shape since 2006

WASHINGTON: The world’s 26 poorest countries, home to 40% of the most poverty-stricken people, are more in debt than...

Published 14 Oct, 2024 06:24pm

Stocks

KSE-100 closes marginally lower on late-session selling

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index opened on a higher note on Monday, adding more than 600...

Updated 15 Oct, 2024 12:00am

Stocks

Engro Fertilizers’ earnings stand at Rs8.6bn in 3QCY24, down 11% YoY

Engro Fertilizers Limited (EFERT), a wholly-owned subsidiary of Engro Corporation Limited, posted a profit after tax...

Published 14 Oct, 2024 04:17pm

Energy

PPL begins oil & gas production from Punjab

Pakistan Petroleum Limited (PPL), an oil and gas exploration firm, announced commencement of hydrocarbon production...

Updated 15 Oct, 2024 12:02am

Mutual Funds

Euro zone bond yields dip as traders look to ECB decision

LONDON: Euro zone bond yields fell slightly on Monday after climbing the previous week, as investors looked ahead to...

Published 14 Oct, 2024 03:07pm

Forex

South African rand weakens, local data to have little influence

JOHANNESBURG: The South African rand softened in early trade on Monday, and with few major domestic data points this...

Published 14 Oct, 2024 02:58pm

Stocks

London stocks flat ahead of data-packed week; bookmakers fall

The UK’s main stock indexes opened largely flat on Monday as investors await a set of crucial economic data this...

Published 14 Oct, 2024 02:55pm

Stocks

Major Gulf markets mixed in early trade

Major stock markets in the Gulf were mixed in early trade on Monday as geopolitical tensions rose in the region and...

Published 14 Oct, 2024 02:49pm

Commodities

China Sept soybean imports surge 59% y/y

BEIJING: China imported 11.37 million metric tons of soybeans in September, customs data showed on Monday, rising...

Published 14 Oct, 2024 02:46pm

Stocks

European stocks flat as China stimulus update underwhelms

European stocks were little changed on Monday after China’s stimulus plans failed to inspire confidence among...

Published 14 Oct, 2024 02:39pm

Energy

China oil imports fall from a year ago for a fifth month in Sept

SINGAPORE: China’s oil imports fell in September by 0.6% from a year earlier, data showed on Monday, as plants...

Published 14 Oct, 2024 02:29pm

Financial

Gold price per tola increases Rs200 in Pakistan

Gold prices in Pakistan surged on Monday in line with their increase in international rates. In the local market,...

Published 14 Oct, 2024 01:52pm

Forex

Australia, NZ dollars under pressure as China’s fiscal stimulus disappoints

SYDNEY: The Australian and New Zealand dollars fell on Monday after Beijing’s fiscal stimulus briefing lacked...

Published 14 Oct, 2024 12:56pm

Forex

China’s yuan eases, markets wait on detailed fiscal measures

SHANGHAI: China’s yuan weakened against the dollar on Monday, weighed down by persistent deflationary pressure,...

Published 14 Oct, 2024 12:47pm

Business & Economy

ADB appoints Xiaoqin Fan as new country director for Pakistan

The Asian Development Bank (ADB) appointed Xiaoqin (Emma) Fan as its new country director for Pakistan on Monday....

Updated 14 Oct, 2024 09:56pm

Stocks

China stocks rally slows as stimulus vows lack detail

SHANGHAI/SINGAPORE: China’s stock markets pressed ahead in volatile trade on Monday as stimulus promises lifted...

Published 14 Oct, 2024 12:40pm

Mutual Funds

India bond yields dip as central bank cuts debt sale, govt to buyback bonds

MUMBAI: Indian government bond yields declined in the early trade on Monday after the central bank trimmed its debt...

Published 14 Oct, 2024 12:35pm

Forex

Asian currencies subdued, stocks gain; regional central bank decisions awaited

Asian stock markets rose on Monday and currencies declined as investors assessed China’s underwhelming stimulus...

Published 14 Oct, 2024 12:32pm

Mutual Funds

Philippines fully awards $348.5mn T-bill offer

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

Published 14 Oct, 2024 12:22pm

Forex

Indian rupee dips to lifetime low on dollar bids by foreign banks

MUMBAI: The Indian rupee dropped to an all-time low on Monday, weighed down by persistent dollar demand from foreign...

Published 14 Oct, 2024 12:20pm

Stocks

Australian shares hit two-week high on miners, banks boost

Australian shares hit a two-week high on Monday, driven by gains in miners and banks, while a positive start to the...

Published 14 Oct, 2024 12:16pm

Stocks

Financials, L&T lift Indian shares; domestic inflation data eyed

Indian shares rose on Monday, led by heavyweight financials and Larsen and Toubro (L&T), while investors awaited...

Published 14 Oct, 2024 12:14pm

Forex

Kenyan shilling stable versus dollar, LSEG data shows

NAIROBI: The Kenyan shilling was stable against the dollar on Monday, data from the London Stock Exchange Group...

Published 14 Oct, 2024 12:07pm

Commodities

Palm oil rises on speculative buying, short covering

KUALA LUMPUR: Malaysian palm oil futures rose on Monday, supported by a combination of speculative buying and short...

Published 14 Oct, 2024 12:06pm

With inflation down, ECB eyes faster tempo of rate cuts

FRANKFURT: The European Central Bank is expected to lower interest rates again this week as anxiety about inflation...

Published 14 Oct, 2024 10:59am

Commodities

Corn, soy fall further on expectations for massive US harvest

CANBERRA: Chicago corn and soybean futures fell further on Monday after the US Department of Agriculture last week...

Published 14 Oct, 2024 10:35am

Currency

Rupee remains largely stable against US dollar

Currency settles at 277.66 against the greenback in inter-bank market

Updated 14 Oct, 2024 09:52pm

Bullion Rate

Gold eases as dollar strengthens; traders eye Fed cues

Gold prices drifted lower on Monday as the US dollar strengthened, while market participants awaited fresh cues on...

Published 14 Oct, 2024 10:33am

Forex

Dollar extends gains while investors parse China’s stimulus plans

SINGAPORE: The dollar extended its gains in early Monday trades in Asia as a holiday in Japan sapped liquidity,...

Published 14 Oct, 2024 10:29am

Stocks

Asia shares await China markets’ response to detail-thin stimulus pledges

SINGAPORE: Asian stocks hardly budged in early holiday-thinned trade on Monday, with investors nervous as to how...

Published 14 Oct, 2024 10:26am

Energy

Oil falls 2% as OPEC cuts oil demand growth view, China concerns

HOUSTON: Oil prices declined about 2% on Monday, wiping out all of last week’s gains, as OPEC’s lowering of its 2024...

Updated 14 Oct, 2024 08:35pm

Companies

Siemens Pakistan to sell energy portfolio to Siemens Gamesa for Rs17.8bn

The Board of Directors (BoD) of Siemens (Pakistan) Engineering Co.Ltd (SIEM), an engineering conglomerate and...

Updated 14 Oct, 2024 11:58pm

Commodities

Peshawar: prices of daily-use items show mixed trend

PESHAWAR: Mixed trend in prices of daily use items like vegetables, pulses, live chicken/meat, flour, sugar and ...

Published 14 Oct, 2024 07:15am

Taxes

Gang involved in selling non-customs paid products: FTO summons FBR members for not initiating action

ISLAMABAD: The Federal Tax Ombudsman (FTO) has summoned Member Operations-IR and Member Customs Operations Federal...