News Archives for Business & Finance - 2024-10-15

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Business & Finance - 2024-10-15

Stocks

Most Gulf markets gain ahead of earnings

Most stock markets in the Gulf ended higher on Tuesday as investors shifted focus to third-quarter earnings despite...

Published 15 Oct, 2024 09:17pm

Stocks

KSE-100 gains nearly 600 points on SCO summit optimism

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index gained nearly 600 points on Tuesday, as investor...

Updated 15 Oct, 2024 11:33pm

Business & Economy

Pakistan, China resolve to deepen strategic cooperation

Pakistan and China on Tuesday reaffirmed their commitment to further deepen strategic cooperation across key areas,...

Updated 15 Oct, 2024 11:32pm

Stocks

Indian shares drop as prospect of delayed domestic rate cuts dulls sentiment

Indian shares closed lower on Tuesday, with auto shares leading losses due to expectations of delayed domestic rate...

Published 15 Oct, 2024 04:53pm

Stocks

Sri Lankan shares end flat

CSE All-Share index closed flat at 12,257.69 points

Published 15 Oct, 2024 04:50pm

Commodities

Copper hits three-week low on confusion over China stimulus

LONDON: Copper prices sank to a three-week low on Tuesday, pressured by confusion about the scale of stimulus...

Published 15 Oct, 2024 04:48pm

Commodities

Palm oil extends declines on weaker rivals; export data caps losses

KUALA LUMPUR: Malaysian palm oil futures fell for a second consecutive session on Tuesday, pressured by weakness in...

Published 15 Oct, 2024 04:46pm

Bullion Rate

Gold price per tola decreases Rs700 in Pakistan

After increasing in the previous session, gold prices in Pakistan declined on Tuesday in line with their decrease in...

Published 15 Oct, 2024 04:01pm

Stocks

Major Gulf markets mixed on weak oil, ahead of earnings

Major stock markets in the Gulf were mixed in early trade on Tuesday on weakening oil even as tensions escalated in...

Published 15 Oct, 2024 02:53pm

Stocks

European shares climb to two-week highs; oil stocks slump

European shares scaled a fresh two-week high on Tuesday, while investors monitored the ongoing corporate earnings...

Published 15 Oct, 2024 02:32pm

Stocks

Oil firms, industrial metal miners drag down London’s FTSE 100

Britain’s benchmark index opened lower on Tuesday, dragged down by heavyweight oil stocks and industrial metal...

Published 15 Oct, 2024 02:30pm

Commodities

China uncertainty, firmer dollar weigh on copper prices

Copper prices fell on Tuesday, pressured by a firmer dollar and uncertainty about top consumer China’s economic...

Published 15 Oct, 2024 01:41pm

Energy

IEA sees oil surplus looming, reassures on Iran supply risk

LONDON: The world oil market is heading for a sizeable surplus in the new year, the International Energy Agency said...

Updated 15 Oct, 2024 02:47pm

Stocks

Hong Kong stocks dive more than 3% in afternoon trading

HONG KONG: Hong Kong stocks sank more than three percent in the afternoon session Tuesday, extending a sell-off in...

Published 15 Oct, 2024 12:33pm

Commodities

Corn, soy slip further on improved supply outlook, stronger US dollar

CANBERRA: Chicago corn and soybean futures fell for a fourth straight session on Tuesday as massive US harvests...

Published 15 Oct, 2024 12:14pm

Growth across Pacific slows as post-pandemic rebound fades, says World Bank

SYDNEY: Growth across the Pacific Islands is expected to slow to 3.6% this year, down from 5.8% in 2023, as a...

Published 15 Oct, 2024 12:12pm

Forex

Indian rupee to hold near all-time low amid dollar’s climb to over 2-month high

MUMBAI: The Indian rupee is likely to open mostly unchanged on Tuesday, holding near its all-time low, with the...

Published 15 Oct, 2024 12:05pm

Commodities

Palm extends decline on lower crude prices, weak rival oils

KUALA LUMPUR: Malaysian palm oil futures fell on Tuesday, extending losses from the previous session, dragged down...

Published 15 Oct, 2024 12:02pm

Bullion Rate

Gold prices flat as investors await fresh impetus

Gold was flat on Tuesday as investors await fresh insights on the Federal Reserve’s stance on US interest rate...

Published 15 Oct, 2024 11:44am

IMF says global public debt to top $100 trillion, growth may accelerate

WASHINGTON: The world’s total public debt is set to exceed $100 trillion this year for the first time, and may grow...

Published 15 Oct, 2024 11:42am

Indonesia’s Sept exports up 6.44% y/y, below forecast

JAKARTA: Indonesia’s exports rose 6.44% on a yearly basis in September to $22.08 billion, official data showed on...

Published 15 Oct, 2024 11:31am

Companies

July-September: PTCL sustains Rs6.3bn in losses

Pakistan Telecommunication Company Limited (PTCL) sustained massive losses to the tune of Rs6.3 billion during the...

Updated 15 Oct, 2024 09:19pm

Stocks

China stocks slip as investors wait on fiscal spending

SINGAPORE/SHANGHAI: Chinese stocks eased on Tuesday as the frenzied rally that drove them to multi-year highs a week...

Published 15 Oct, 2024 11:10am

Mutual Funds

India bond yields flat as lower oil prices offset inflation data

MUMBAI: Indian government bond yields were barely changed in early trading on Tuesday after a higher-than-expected...

Published 15 Oct, 2024 11:08am

Commodities

India’s rice stocks rise, new season supplies to bump up inventories

NEW DELHI: India’s October rice stocks piled up to 31.1 million metric tons, the highest for the month in the past...

Published 15 Oct, 2024 11:06am

Forex

Australian, NZ dollars turn lower as yuan skids to one-month trough

SYDNEY: The Australian and New Zealand dollars struggled to make new ground on Tuesday even as Wall Street soared to...

Published 15 Oct, 2024 11:00am

Commodities

Indonesia rice output seen down 2.43% in 2024, statistics bureau says

JAKARTA: Indonesia’s rice output in 2024 is estimated at 30.34 million metric tons, down 2.43% from last year, data...

Published 15 Oct, 2024 10:54am

Stocks

Australia shares touch record high, Ampol top loser on benchmark

Australian shares touched a record high on Tuesday, reflecting broad gains among heavyweight miners on rising iron...

Published 15 Oct, 2024 10:50am

Stocks

Japan’s Nikkei hits 3-month peak on Wall Street gains, weaker yen

TOKYO: Japan’s Nikkei share average rose on Tuesday to a three-month high above the 40,000 level, as Wall Street’s...

Published 15 Oct, 2024 10:47am

Stocks

Most Asian shares track Wall Street higher, oil extends losses

SYDNEY: Asian stocks were mostly higher on Tuesday, supported by a strong Wall Street close and investor optimism...

Published 15 Oct, 2024 10:41am

Stocks

Indian shares set to track Asian peers higher

Indian shares are likely to open higher on Tuesday, tracking a climb in Asian peers, as traders gauged a record...

Published 15 Oct, 2024 10:38am

Forex

Rupee registers marginal decline against US dollar

Currency settles at 277.74 against the greenback in inter-bank market

Updated 15 Oct, 2024 09:18pm

Forex

Dollar at over two-month high, yen near 150/dlr

SINGAPORE: The US dollar was perched at an over two-month high against major currencies on Tuesday, spurred by...

Published 15 Oct, 2024 10:24am

Energy

Oil plunges 4% as Iran supply disruption concerns ease, demand outlook weakens

HOUSTON: Oil prices tumbled more than 4% to a near two-week low on Tuesday due to a weaker demand outlook and after...

Updated 15 Oct, 2024 09:30pm

Forex

China’s yuan weakens to 1-month low on weak data, Fed rate bets

SHANGHAI: China’s yuan slipped to a one-month low against the dollar on Tuesday, breaching a key threshold,...

Published 15 Oct, 2024 10:14am

Ericsson Q3 core profit beats expectations

STOCKHOLM: Swedish telecom equipment maker Ericsson reported on Tuesday a rise in core earnings that beat...

Published 15 Oct, 2024 10:12am

Companies

Pakistan’s SLGL secures transport services deal with Maersk

Secure Logistics Group Limited (SLGL) has entered into an arrangement to provide transport services to Maersk West...

Updated 15 Oct, 2024 09:29pm

Companies

TPL Trakker launches exclusive discount for Shell cardholders

KARACHI: TPL Trakker, a leader in vehicle tracking solutions announced collaboration with Shell Pakistan to provide...

Published 15 Oct, 2024 08:54am

Tarar lists successes in foreign policy, economy

ISLAMABAD: The Minister for Information and Broadcasting, Ataullah Tarar, on Monday, highlighted Pakistan’s...

Published 15 Oct, 2024 08:47am

ADB appoints Xiaoqin Fan as new country director for Pakistan

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

Published 15 Oct, 2024 08:38am

KATI proposes adoption of ‘Charter of Karachi’

KARACHI: Korangi Association of Trade and Industry (KATI) has proposed the adoption of a “Charter of Karachi”...

Published 15 Oct, 2024 08:13am

Companies

Google signs nuclear power deal

SAN FRANCISCO: Google on Monday signed a deal to get electricity from small nuclear reactors to help power ...

Published 15 Oct, 2024 06:47am

Taxes

Tax return filing deadline extended

ISLAMABAD: The Federal Board of Revenue (FBR) has extended the last date for filing of income tax returns, ie, up to...

Published 15 Oct, 2024 06:47am

Companies

VEON's BoD approves plan to move HQ to Dubai: Jazz

ISLAMABAD: Jazz, Pakistan's leading digital operator and VEON's leading operating company, Monday, announced that...

Published 15 Oct, 2024 06:47am

Pakistan’s tech sector aims for export boost through GITEX Global in Dubai

DUBAI: Shahid Iqbal, Executive Director of Pakistan-based Premier Cables, had high praise for GITEX Global,...

Updated 15 Oct, 2024 01:45pm

Gitex Global 2024 begins as Dubai highlights push to diversify economy

DUBAI: The 44th edition of GITEX GLOBAL 2024 — one of the world’s largest technology and startup events — commenced...

Updated 15 Oct, 2024 01:46pm

UK pledges regulatory overhaul in bid to lure wary investors

LONDON: British Prime Minister Keir Starmer promised on Monday to scrap regulation that holds back economic growth ...

Published 15 Oct, 2024 06:47am

Money & Banking

US dollar hits nine-week high

NEW YORK: The US dollar hit a nine-week high on Monday in thin trading, continuing its bullish trend in the last few...

Published 15 Oct, 2024 06:47am

Money & Banking

Asian currencies tepid against stronger dollar

BENGALURU: Asian stock markets rose and currencies lost momentum on Monday as investors assessed China’s...

Published 15 Oct, 2024 06:47am

Money & Banking

Indian rupee slips to record low

MUMBAI: The Indian rupee slipped to an all-time low on Monday, weighed down by a fall in most Asian peers and strong...

Published 15 Oct, 2024 06:47am

Companies

Jubilee Life signs MoU with PFN to sponsor three Pakistan Insurtech Summits

KARACHI: Jubilee Life Insurance, Pakistan’s largest private insurer, recently signed on MoU with the Pakistan...

Updated 15 Oct, 2024 08:52am

Taxes

Repeated maladministration to taxpayers: FTO directs FBR to take action against RTO Rawalpindi officers

ISLAMABAD: The Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to take immediate action...

Updated 15 Oct, 2024 08:28am

Companies

ABHI partners with People™ to enhance employee financial wellbeing with EWA

KARACHI: ABHI has signed an agreement with People™, to offer earned wage access (EWA) to the clients of People™....

Updated 15 Oct, 2024 08:53am

Companies

Bahra Electric and Pakistan Cables sign MoU to develop energy sectors

ISLAMABAD: Bahra Electric and Pakistan Cables Limited signed a Memorandum of Understanding (MoU) to strengthen...

Updated 15 Oct, 2024 08:53am

Industry

Next phase of CPEC, SCO can be real game-changers: FPCCI

KARACHI: Atif Ikram Sheikh, President FPCCI, has explained that next phase of China – Pakistan Economic Corridor...

Updated 15 Oct, 2024 08:35am

Industry

Industrial zones to be facilitated through ‘MIP’: Brig Asad

KARACHI: Administrator Pakistan Economic Zone Development and Management Company (PEZDMC) Brigadier Muhammad Asad,...

Updated 15 Oct, 2024 08:39am

Companies

Abacus honoured at ‘Common-wealth at 75’ celebration in London

LAHORE: Abacus, an internationally renowned professional services company, has been recognised in the prestigious...

Updated 15 Oct, 2024 09:01am

Tax year 2024: FBR receives 4.436m income tax returns

ISLAMABAD: The Federal Board of Revenue (FBR) has received 4.436 million income tax returns for tax year 2024 upto...

Updated 15 Oct, 2024 08:27am

Taxes

FBR extends deadline for filing tax returns till October 31

The Federal Board of Revenue (FBR) on Monday extended the deadline for filing the income tax returns further till...

Published 15 Oct, 2024 12:57am

US Fed ‘should proceed with more caution’ on rate cuts: official

WASHINGTON: The US Federal Reserve should be more careful with its pace of rate cuts than it was in September, a...

Published 15 Oct, 2024 12:36am

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
Petrol/Litre / Nov 26	248.38
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
Diesel/Litre / Nov 26	255.14

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Nov 26 786 Investments Limited(786)	6.86 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Nov 26 Al-Abbas Sugar Mills Limited(AABS)	610 ▼ 0.00 (0.00%)
Agro Allianz / Nov 26 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Nov 26 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Nov 26 Ali Asghar Textile Mills Limited(AATM)	74.39 ▼ 0.00 (0.00%)
Allied Bank / Nov 26 Allied Bank Limited(ABL)	122.01 ▼ 0.00 (0.00%)
Abbott Lab. / Nov 26 Abbott Laboratories (Pakistan) Limited(ABOT)	998.48 ▼ 0.00 (0.00%)
Abson Ind. / Nov 26 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Nov 26 Alfalah Consumer Index ETF.(ACIETF)	12.42 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Nov 26 786 Investments Limited(786)	6.86 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Nov 26 Al-Abbas Sugar Mills Limited(AABS)	610 ▲ 0.00 (0.00%)
Agro Allianz / Nov 26 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Nov 26 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Nov 26 Ali Asghar Textile Mills Limited(AATM)	74.39 ▲ 0.00 (0.00%)
Allied Bank / Nov 26 Allied Bank Limited(ABL)	122.01 ▲ 0.00 (0.00%)
Abbott Lab. / Nov 26 Abbott Laboratories (Pakistan) Limited(ABOT)	998.48 ▲ 0.00 (0.00%)
Abson Ind. / Nov 26 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Nov 26 Alfalah Consumer Index ETF.(ACIETF)	12.42 ▲ 0.00 (0.00%)

Stock	Volume
Hascol Petrol / Nov 26 Hascol Petroleum Limited(HASCOL)	64,823,622 ▲ 0.00
Cnergyico PK / Nov 26 Cnergyico PK Limited(CNERGY)	48,065,578 ▲ 0.00
Fauji Foods Ltd / Nov 26 Fauji Foods Limited(FFL)	40,919,425 ▲ 0.00
WorldCall Telecom / Nov 26 Worldcall Telecom Limited(WTL)	33,547,707 ▲ 0.00
K-Electric Ltd. / Nov 26 K-Electric Limited(KEL)	32,092,012 ▲ 0.00
Sui South Gas / Nov 26 Sui Southern Gas Company Limited(SSGC)	30,420,168 ▲ 0.00
Treet Battery / Nov 26 Treet Battery Limited(TBL)	22,823,492 ▲ 0.00
B.O.Punjab / Nov 26 The Bank of Punjab(BOP)	20,014,784 ▲ 0.00
Waves Home Appliances / Nov 26 Waves Home Appliances Limited(WAVESAPP)	19,695,105 ▲ 0.00

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