News Archives for Business & Finance - 2024-10-16

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Business & Finance - 2024-10-16

Stocks

Spanish blue chips close at highest since 2010

Spain’s benchmark closed on Wednesday at its highest since January 2010, following a rally of over 18% so far this...

Published 16 Oct, 2024 09:44pm

Stocks

Most Gulf markets in black ahead of earnings; oil geopolitics cap gains

Most stock markets in the Gulf ended higher on Wednesday as investors prepare for the third-quarter earnings season...

Published 16 Oct, 2024 09:41pm

Stocks

Wall St steady as investors favor small caps over Big Tech; banks rally

The S&P 500 and the Nasdaq were little changed on Wednesday, with declines in heavily weighted technology...

Published 16 Oct, 2024 09:38pm

South Asia

SCO joint communique: member states say important to counter protectionist policies, sanctions

23rd Meeting of Council of Heads of Government of Member States of Shanghai Cooperation Organisation concludes in Islamabad

Updated 16 Oct, 2024 11:22pm

Commodities

Copper bounces from key technical level on China hopes

LONDON: Copper prices rebounded on Wednesday after the market stabilised at a key support level amid hopes that...

Published 16 Oct, 2024 06:10pm

Stocks

Indian shares slip again as foreign fund exodus hurts

Indian shares fell for a second straight session on Wednesday, as foreign funds shifted money to China and marquee...

Published 16 Oct, 2024 05:11pm

Stocks

Sri Lankan shares end higher boosted by IT stocks

CSE All-Share index closed 0.27% higher at 12,290.48 points

Published 16 Oct, 2024 05:09pm

Commodities

Palm snaps two-day losing streak on short-term demand, supply outlook

KUALA LUMPUR: Malaysian palm oil futures edged higher on Wednesday, snapping a two-day losing streak, on expected...

Published 16 Oct, 2024 05:07pm

Companies

Fauji Fertilizer acquires additional stake in Agritech Limited for Rs3.9bn

Fauji Fertilizer Company (FFC), one of Pakistan’s largest fertilizer producers, has acquired 106,014,632 shares of...

Updated 16 Oct, 2024 07:58pm

Forex

Russian rouble continues to weaken vs US dollar

MOSCOW: The Russian rouble continued to weaken against the US dollar on Wednesday but was flat against China’s yuan,...

Published 16 Oct, 2024 03:37pm

Stocks

European tech, luxury stocks tumble as ASML, LVMH results disappoint

Europe’s tech and luxury stocks slumped on Wednesday after disappointing results from industry heavyweights ASML and...

Published 16 Oct, 2024 03:11pm

Companies

Airbus to cut up to 2,500 jobs in space, defence unit

PARIS: European aviation giant Airbus plans to cut up to 2,500 jobs in its struggling defence and space division, a...

Published 16 Oct, 2024 02:47pm

Stocks

London stocks hit more than 1-week highs after softer-than-expected inflation data

The UK’s main stock indexes jumped on Wednesday after a key inflation reading showed British inflation fell more...

Published 16 Oct, 2024 02:40pm

Pakistan’s Abhi secures $15mn in credit financing to expand financial inclusion in UAE

DUBAI: Pakistan’s fintech Abhi has secured $15 million in credit financing led by Shorooq Partners and Amplify...

Updated 16 Oct, 2024 06:56pm

Stocks

Major Gulf markets gain ahead of earnings; regional conflict, oil limit gains

Major stock markets in the Gulf rose in early trade on Wednesday as investors braced for third-quarter earnings,...

Published 16 Oct, 2024 01:51pm

Bullion Rate

New record high: gold price hits Rs277,200 per tola in Pakistan

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

Updated 16 Oct, 2024 07:19pm

Stocks

Asian markets track Wall Street losses on worries over tech rally

HONG KONG: Asian markets mostly fell on Wednesday after a tech-led sell-off on Wall Street fuelled by worries about...

Published 16 Oct, 2024 12:42pm

Companies

Lufthansa fined ‘record’ $4mn for barring Jewish passengers

WASHINGTON: US authorities have hit Lufthansa with a record $4 million penalty after finding the airline...

Published 16 Oct, 2024 12:40pm

UK inflation hits three-year low, fuelling rate-cut hopes

LONDON: Britain’s annual inflation rate fell to a three-year low in September, official data showed Wednesday,...

Published 16 Oct, 2024 12:35pm

Energy

Sinopec says east China shale oil field pumping at 1,600 tons a day

SINGAPORE: Sinopec is advancing development of shale oil at its pilot project Jiyang in east China, pumping 1,600...

Published 16 Oct, 2024 12:19pm

Commodities

Palm bounces back on stronger crude and rival oils

KUALA LUMPUR: Malaysian palm oil futures opened higher on Wednesday, bouncing back after two consecutive sessions of...

Published 16 Oct, 2024 12:16pm

Forex

China’s yuan edges up on hopes of more stimulus

HONG KONG: China’s yuan steadied against the dollar on Wednesday after slipping to one-month lows in early trade,...

Published 16 Oct, 2024 11:48am

Commodities

London copper rises amid short-covering, soft dollar

London copper rose on Wednesday, supported by a softer dollar and as prices rebounded from a psychological support...

Published 16 Oct, 2024 11:37am

Stocks

China stocks wobble, HK up as investors pin hope on property sector briefing

HONG KONG: China stocks moved choppily on Wednesday while Hong Kong shares rose, as investors looked forward to a...

Published 16 Oct, 2024 11:00am

Stocks

KSE-100 closes above 86,000 for first time amid SCO summit optimism

The Pakistan Stock Exchange (PSX) witnessed another bullish session on Wednesday, as the benchmark KSE-100 Index...

Updated 16 Oct, 2024 11:52pm

South Asia

India’s Adani Green calls off planned dollar bond sale, sources say

MUMBAI: India’s Adani Green Energy cancelled its plan to raise funds via US dollar-denominated bonds after investors...

Published 16 Oct, 2024 10:45am

Exchange

Rupee lowers marginally against US dollar

Currency settles at 277.84 against the US dollar in inter-bank market

Updated 16 Oct, 2024 07:14pm

Mutual Funds

Indian bond yields seen steady amid lack of cues

MUMBAI: Indian government bond yields are expected to trade little changed in early trading on Wednesday, as market...

Published 16 Oct, 2024 10:24am

Stocks

Australian shares slip from record high; Rio Tinto drops

Australian stocks fell on Wednesday, slipping from a record high close in the previous session, as shares in iron...

Published 16 Oct, 2024 10:21am

Commodities

Corn and soybeans regain a little ground after sell-off

CANBERRA: Chicago corn and soybean futures steadied on Wednesday after hitting multi-week lows in the previous...

Published 16 Oct, 2024 10:18am

Stocks

Japan’s Nikkei falls as chip stocks track US peers lower

TOKYO: Japan’s Nikkei share average fell on Wednesday, as chip-related stocks tracked an overnight drop in US peers,...

Published 16 Oct, 2024 10:15am

Bullion Rate

Gold ticks up as Treasury yields slip; US retail sales data in focus

Gold prices inched higher on Wednesday, as US Treasury yields eased, while market participants waited for more US...

Published 16 Oct, 2024 10:13am

Forex

Dollar pullback to help Indian rupee, weak risk appetite to weigh

MUMBAI: The Indian rupee is expected to open largely unchanged on Wednesday, holding below the 84 handle amid...

Published 16 Oct, 2024 10:11am

Forex

Aussie hit by China stimulus scepticism; US dollar firm on Fed outlook

TOKYO: The Australian and New Zealand dollars slumped on Wednesday as scepticism grew about top trading partner...

Published 16 Oct, 2024 10:08am

Stocks

Indian shares set for muted open

Indian shares are likely to open little changed on Wednesday, as investors await fresh triggers amid continuing...

Published 16 Oct, 2024 10:01am

Energy

Oil prices hold near 2-week low on lower oil demand growth forecasts

NEW YORK: Oil prices held near a two-week low on Wednesday after dropping about 7% over the prior three days on...

Updated 16 Oct, 2024 09:47pm

Sindh: massive investment expected in next few years

KARACHI: With improved and business-friendly policies, the Sindh government is expecting massive investment in the...

Published 16 Oct, 2024 08:01am

Companies

PTCL Group reports 15.3pc YoY revenue growth

KARACHI: Pakistan Telecommunication Company Limited (PTCL), the leading telecom and ICT services provider in the...

Published 16 Oct, 2024 07:59am

Industry

Labour bodies will not be allowed to ‘blackmail’ industries: Sindh minister

KARACHI: Provincial Minister for Labor and Human Resource, Shahid Abdul Salam Taheem, assured industrialists at a...

Updated 16 Oct, 2024 08:57am

Money & Banking

Indian rupee ends little changed

MUMBAI: The Indian rupee ended little changed on Tuesday as the slump in crude oil prices offset the impact of...