News Archives for Business & Finance - 2024-10-17

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Business & Finance - 2024-10-17

Stocks

KSE-100 loses 620 points on profit-taking, closes below 86,000

After hitting a record high in the previous session, the Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index...

Published 17 Oct, 2024 08:38pm

Money & Banking

World Bank’s Banga says more bilateral debt forgiveness needed

WASHINGTON: World Bank President Ajay Banga said on Thursday that bilateral creditors need to provide more debt...

Published 17 Oct, 2024 08:37pm

Forex

SBP-held foreign exchange reserves surpass $11bn after more than 2 years

On weekly basis, dollar stockpile increases $215 million

Updated 17 Oct, 2024 09:09pm

Companies

NLC enhances logistics fleet for efficient cross border transportaion

In response to the increasing trade with regional countries, the National Logistics Corporation (NLC) has enhanced...

Published 17 Oct, 2024 06:22pm

Commodities

Asia rice: India prices hold near 1-year lows, Thai rates rise on steady demand

Rice export prices in India held near their lowest level in more than a year amid a slight improvement in demand,...

Published 17 Oct, 2024 06:12pm

Companies

Nokia cuts 2,000 jobs in China, 350 in Europe as part of cost cuts, sources say

STOCKHOLM: Nokia has laid off close to 2,000 people or about a fifth of its employee base across Greater China and...

Published 17 Oct, 2024 06:09pm

Interest Rates

ECB makes back-to-back interest rate cuts as inflation falls

FRANKFURT: The European Central Bank cut interest rates again Thursday, upping the tempo at which it is lowering...

Updated 17 Oct, 2024 06:38pm

Companies

Pakistan’s Mega Motor secures key partnership with global EV giant BYD

Mega Motor Company (Private) Limited, a subsidiary of The Hub Power Company Limited (HUBCO), has announced a...

Updated 17 Oct, 2024 11:24pm

Stocks

Indian shares slip for third straight day as Bajaj Auto’s forecast adds to blues

Indian shares fell for the third straight session on Thursday as motorcycle maker Bajaj Auto’s warning of weak...

Published 17 Oct, 2024 04:44pm

Commodities

Copper at three-week low as funds switch to gold

LONDON: Copper prices fell on Thursday to their lowest in more than three weeks as funds exited industrial metals...

Published 17 Oct, 2024 04:41pm

Commodities

Palm falls on mix trading in rival oils

KUALA LUMPUR: Malaysian palm oil futures closed down on Thursday after rising in the previous session, weighed down...

Published 17 Oct, 2024 04:39pm

Energy

Saudi Arabia’s crude oil exports in August hit one-year low

Saudi Arabia’s crude oil exports in August fell to their lowest level in a year, data from the Joint Organizations...

Published 17 Oct, 2024 03:27pm

Business & Economy

SBP predicts 2.5-3.5% growth for FY25, warns of structural challenges

Inefficiencies in energy sector resulted in accumulation of circular debt, says central bank in annual report

Updated 17 Oct, 2024 10:51pm

Stocks

UK stocks steady ahead of ECB rate decision; Rentokil caps ex-dividend pressure

The UK’s main stock indexes were steady on Thursday as investors braced for the European Central Bank’s interest...

Published 17 Oct, 2024 02:38pm

Bullion Rate

Gold sprints to record high on US election uncertainty, rate-cut bets

Gold hit an all-time high on Thursday, steered by uncertainty surrounding the US election and expectations of more...

Published 17 Oct, 2024 02:36pm

Business & Economy

Aurangzeb discusses economic reforms, climate resilience with US envoy

Finance Minister Muhammad Aurangzeb told US Ambassador Donald Blome on Thursday that the government’s macroeconomic...

Updated 17 Oct, 2024 10:19pm

Money & Banking

Bank Alfalah posts over 50% profit surge in 3QCY24

Bank Alfalah saw its consolidated profit jump to Rs13.3 billion during the quarter ended September 30, 2024, which...

Updated 17 Oct, 2024 10:34pm

Commodities

Another record high: gold prices in Pakistan hit Rs277,900 per tola

Gold prices in Pakistan maintained their upward trajectory on Thursday in line with their increase in international...

Updated 17 Oct, 2024 08:02pm

Taiwan’s TSMC says full-year revenue forecast to grow nearly 30%

TAIPEI: Taiwan’s TSMC said Thursday that its full-year revenue was forecast to grow nearly 30 percent, after the...

Published 17 Oct, 2024 12:48pm

Commodities

Dalian iron ore hits over two-week low on higher global supply

SINGAPORE: Dalian iron ore futures prices dropped on Thursday to their lowest in more than two weeks, as higher...

Published 17 Oct, 2024 12:15pm

Forex

China’s yuan steady after housing policy announcement, eyes Q3 GDP

SHANGHAI: China’s yuan held steady against the US dollar as reactions to the country’s housing policy briefing were...

Published 17 Oct, 2024 12:13pm

UniCredit signs agreement for 500 new jobs, 1,000 voluntary exits

MILAN: UniCredit has signed an agreement with labour unions for the employment of 500 people and 1,000 voluntary...

Published 17 Oct, 2024 11:59am

Stocks

Australian shares close at record high, boosted by financials

Australian shares notched a record closing high on Thursday, tracking a similar trend on Wall Street, as financials...

Published 17 Oct, 2024 11:53am

Commodities

South Korea’s KFA bought 65,000 metric tons corn in private deal

HAMBURG: The Korea Feed Association (KFA) in South Korea purchased about 65,000 metric tons of animal feed corn...

Published 17 Oct, 2024 11:28am

Commodities

Palm weighed down by overnight weakness in Chicago soyoil and crude prices

KUALA LUMPUR: Malaysian palm oil futures inched lower on Thursday, weighed down by weakness in overnight Chicago...

Published 17 Oct, 2024 11:26am

Currency

Rupee improves slightly against US dollar

Currency settles at 277.79 against greenback in inter-bank market

Updated 17 Oct, 2024 10:34pm

Stocks

‘Trump trade’ lifts dollar, Asia stocks await China news

SINGAPORE: Asian shares steadied on Thursday ahead of a housing policy briefing in China that has raised...

Published 17 Oct, 2024 10:52am

Forex

Australian dollar gets much needed lift from strong jobs, bond yields rise

SYDNEY: The Australian dollar rebounded from a one-month low and bond yields gained on Thursday after jobs data...

Published 17 Oct, 2024 10:33am

Dubai’s Emirates NBD posts flat Q3 y/y net profit

DUBAI: Emirates NBD, Dubai’s biggest bank by assets, reported on Thursday flat third-quarter net profit, as an...

Published 17 Oct, 2024 10:30am

Stocks

Indian shares drop as Bajaj Auto’s festive sales warning adds to gloom

Indian shares dropped on Thursday as motorcycle maker Bajaj Auto’s warning of weak festival season sales rippled...

Published 17 Oct, 2024 10:22am

Stocks

Chip stocks drag Nikkei lower ahead of TSMC earnings

TOKYO: Japan’s Nikkei share average declined on Thursday, as investors sold off chip stocks before Taiwan...

Published 17 Oct, 2024 10:17am

Commodities

Corn edges higher after big US export sales

CANBERRA: Chicago corn futures rose on Thursday after US shippers reported their biggest daily export sale in more...

Published 17 Oct, 2024 10:14am

Forex

Dollar hovers near 11-week high, eyes on China property briefing

SINGAPORE: The dollar held near an 11-week high on Thursday as uncertainty over the upcoming US election looms and...

Published 17 Oct, 2024 10:11am

Energy

Oil prices edge lower, US crude stockpiles fall

NEW YORK: Oil prices were down slightly on Thursday as investors waited on developments in the Middle East, while...

Updated 17 Oct, 2024 10:02pm

Mutual Funds

India bond yields flat, government’s bond buyback in focus

MUMBAI: Indian government bond yields were flat early in the session on Thursday as traders awaited the government’s...

Published 17 Oct, 2024 10:05am

ABB raises full year guidance after Q3 profit beats forecasts

ZURICH: Swiss engineering group ABB on Thursday reported better-than-expected operating profit for its third quarter...

Published 17 Oct, 2024 10:01am

Stocks

China stocks flat as property support measures underwhelm markets

SHANGHAI: China stocks were largely flat on Thursday as a lack of fresh stimulus from a closely-watched housing...

Published 17 Oct, 2024 09:59am

Money & Banking

HBL 9M 2024 PBT rises to record Rs85.9bn

KARACHI: HBL on Wednesday declared a consolidated profit before tax (PBT) of Rs 85.9 billion for the first nine...

Published 17 Oct, 2024 08:16am

Companies

UAE, Pak fintech operators sign partnership

KARACHI: The UAE-based fintech, Codebase Technologies, announced its strategic partnership with Pakistani fintech,...

Published 17 Oct, 2024 08:05am

Companies

Fast Cables champions sustainability at Lahore Biennale Foundation 2024

LAHORE: Fast Cables, Pakistan’s was a proud sponsor of the inaugural session of the Lahore Biennale Foundation...

Updated 17 Oct, 2024 08:41am

Money & Banking

9 months of 2024: Soneri Bank announces PAT growth of 13.80pc YoY

KARACHI: The Board of Directors of Soneri Bank Limited, in their 207th meeting held in Karachi on 16th October 2024,...

Published 17 Oct, 2024 07:32am

Agriculture and Allied

‘Tomato cultivated on 1600 acres of land in Punjab’

LAHORE: Tomatoes have been cultivated on 1600 acres of land in the province out of the target of 2000 acres set ...

Published 17 Oct, 2024 06:34am

Companies

PKIC partners with Systems to implement Temenos Core Banking platform

KARACHI: Pakistan Kuwait Investment Company (Pvt) Limited (PKIC) has signed an agreement with Systems Limited to...

Published 17 Oct, 2024 06:34am

MENA

From ‘small village’ to humanoid teachers, hugging robots: GITEX GLOBAL highlights Dubai’s rise

DUBAI: Dubai Minister of State for Artificial Intelligence Omar bin Sultan Al Olama reminisced about the time when...

Published 17 Oct, 2024 06:34am

Industry

Govt to activate SSIC training centres

KARACHI Provincial Minister for Industries and Commerce Jam Ikramullah Dharejo has said that the training centres...

Published 17 Oct, 2024 06:34am

Industry

Call for economic empowerment of women

LAHORE: An inspiring interactive session by 'Women on Board' featured Aasia Saail Khan, a member of the Prime...

Published 17 Oct, 2024 06:34am

Money & Banking

US dollar hits fresh 10-week high

NEW YORK: The US dollar firmed on Wednesday, hitting a new 10-week high, as investors priced out a hefty interest...

Published 17 Oct, 2024 06:34am

Money & Banking

Asian FX steady ahead of key cenbank decisions

BENGALURU: Asian currencies recovered some ground on Wednesday, led by the Indonesian rupiah and Thailand’s baht,...

Published 17 Oct, 2024 06:34am

KCCI urges FBR to defer affidavit submission condition for returns

KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Muhammad Jawed Bilwani has advised the Federal...

Published 17 Oct, 2024 06:34am

Security for SCO summit: Businesses, main roads remain closed for third consecutive day

ISLAMABAD: All the businesses and main roads in the twin cities remained closed on Wednesday for the third...

Updated 17 Oct, 2024 09:02am

Stocks

PSX expected to reach 106,000-level by next June

KARACHI: Despite massive foreign selling due to FTSE rebalancing outflow, Pakistan Stock Exchange is expected to...

Published 17 Oct, 2024 06:34am

Hike in ghee, cooking oil rates not due to taxes: ex-PVMA chief

ISLAMABAD: Any increase in prices of local ghee and cooking oil is merely due to fluctuation in palm/ edible oil...

Published 17 Oct, 2024 06:34am

Zardari calls for increasing B2B ties with Turkmenistan

ISLAMABAD: President Asif Ali Zardari has underlined the importance of increasing economic cooperation and...

Published 17 Oct, 2024 06:34am

Industry

Economic growth, regional integration: SCO summit provides a distinctive platform: ICCI

ISLAMABAD: The Islamabad Chamber of Commerce and Industry (ICCI) on Wednesday while hailing the successful hosting ...

Published 17 Oct, 2024 06:34am

PTEA urges govt to restore business community’s confidence

FAISALABAD: The Textile export industry has urged to defer the requirement of an affidavit from the CFO by the FBR,...

Published 17 Oct, 2024 06:34am

PBA applauds SBP’s revised SME financing limits

KARACHI: The Pakistan Banks’ Association (PBA) applauds the State Bank of Pakistan (SBP) for its progressive step...

Published 17 Oct, 2024 06:34am

Industry

Belarus delegation visits ZTBL, shows interest in multiple projects

ISLAMABAD: A high-level delegation from the Republic of Belarus called on the President/CEO of Zarai Taraqiati Bank...

Published 17 Oct, 2024 06:34am

Taxes

Probe into burdening taxpayers: FBR fails to timely submit comments before FTO

ISLAMABAD: The Federal Board of Revenue (FBR) has failed to timely submit comments before the Federal Tax Ombudsman...

Updated 17 Oct, 2024 07:33am

Companies

eTurbo launches fastest, most economical EV motorcycles

KARACHI: eTurbo Motors has set a new benchmark in Pakistan’s electric vehicle (EV) industry with the launch of the...

Updated 17 Oct, 2024 08:16am

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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