News Archives for Business & Finance - 2024-10-18

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Business & Finance - 2024-10-18

Stocks

Sri Lankan shares log fifth straight weekly gains

CSE All-Share index closed 0.18% higher at 12,313.1 points

Published 18 Oct, 2024 07:58pm

Stocks

Tech stocks boost Nasdaq, S&P 500; Netflix soars

The S&P 500 and the tech-heavy Nasdaq edged higher on Friday, driven by gains in technology stocks, while...

Published 18 Oct, 2024 07:45pm

Stocks

KSE-100 closes 335 points lower as profit-taking persists

Profit-takers held sway over the Pakistan Stock Exchange (PSX) for the second consecutive session, as its benchmark...

Updated 18 Oct, 2024 11:37pm

Middle East

Airlines suspend flights as Middle East tensions rise

Concerns over a wider conflict in the Middle East have prompted international airlines to suspend flights to the...

Published 18 Oct, 2024 06:13pm

Stocks

UAE market track global shares higher

Stock markets in the United Arab Emirates closed higher on Friday, in line with global equities as China’s central...

Published 18 Oct, 2024 05:53pm

Forex

India’s FX reserves log worst fall in 2-1/2 years

MUMBAI: India’s foreign exchange reserves dropped for a second consecutive week, falling to a one-month low of...

Published 18 Oct, 2024 05:44pm

Commodities

Global LNG: Asian spot prices inch up amid emerging demand

SINGAPORE: Asian spot liquefied natural gas (LNG) gained for the first time since end-August this week, supported by...

Published 18 Oct, 2024 05:39pm

Stocks

Indian shares rebound after 3-day slump but weekly losses continue

Indian shares snapped a three-day losing streak on Friday as gains in Axis Bank lifted heavyweight financials,...

Published 18 Oct, 2024 05:32pm

Commodities

Copper rises as China rolls out support for stock market

LONDON: Copper prices rose on Friday, supported by new measures to boost liquidity in the Chinese stock market and...

Published 18 Oct, 2024 05:29pm

Commodities

Palm falls on profit-taking, breaks four consecutive weekly gains

KUALA LUMPUR: Malaysian palm oil futures booked a weekly loss on Friday due to profit-taking, though traders expect...

Published 18 Oct, 2024 05:26pm

Commodities

Gold prices hit record high in Pakistan, surpass Rs280,000 per tola amid global rally

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

Updated 18 Oct, 2024 11:48pm

Stocks

European shares headed for weekly gains after ECB rate cut

European shares opened muted on Friday, after the European Central Bank’s latest rate cut and upbeat earnings...

Published 18 Oct, 2024 03:04pm

Stocks

London stocks open lower after retail sales data; set for weekly gains

London stocks opened lower on Friday as investors digested an unexpected rise in retail sales data, although both...

Published 18 Oct, 2024 03:02pm

Commodities

Malaysia sees 2025 palm oil prices at between 3,500-4,000 ringgit per ton

KUALA LUMPUR: Malaysia expects the price of crude palm oil (CPO) to average between 3,500 ringgit and 4,000 ringgit...

Published 18 Oct, 2024 02:15pm

Stocks

July-September: Pakistan Refinery sustains Rs2.4bn in losses

Pakistan Refinery Limited (PRL), a subsidiary of the Pakistan State Oil Company Limited (PSO), sustained massive...

Updated 18 Oct, 2024 09:01pm

ECB to keep options open in face of undershooting risk, Villeroy says

PARIS: The European Central Bank is keeping its options fully open at upcoming interest rate meetings as the risk of...

Published 18 Oct, 2024 01:50pm

Stocks

Hong Kong stocks jump more than 3% in afternoon trading

HONG KONG: Hong Kong stocks rallied more than three percent in the afternoon on Friday as traders welcomed more...

Published 18 Oct, 2024 12:42pm

Business & Economy

Pakistan’s inflation likely to stay in single digit in October, rate cut anticipated

Consumer Price Index for October expected to clock in at 6.5-7.0%, according to a brokerage report

Updated 18 Oct, 2024 10:25pm

Forex

China’s yuan firms after PBOC kicks off market support tools

SHANGHAI: China’s yuan firmed on Friday against the US dollar after the country’s central bank kicked off two...

Published 18 Oct, 2024 11:59am

Mutual Funds

JGB yields rise on higher US yields, BOJ policy tightening expectation

TOKYO: Japanese government bond (JGB) yields rose on Friday, tracking US Treasury yields higher, while expectations...

Published 18 Oct, 2024 11:46am

World Bank president focused on job creation ahead of annual meetings

WASHINGTON: The World Bank will unveil plans to tackle job creation, gender disparities, and food security at next...

Published 18 Oct, 2024 11:26am

Stocks

Australian shares slip from record as miners drag on lack of China stimulus

Australian shares fell on Friday, dragged by local miners on weaker underlying commodity prices, while investors...

Published 18 Oct, 2024 11:00am

Bullion Rate

Safe-haven gold breaks $2,700/oz level as uncertainty looms

Gold breached the $2,700-per-ounce level on Friday for the first time ever, as US election jitters and simmering...

Published 18 Oct, 2024 10:54am

China central bank chief warns against any illegal fund flows into stock market

BEIJING: The governor of China’s central bank, Pan Gongsheng, warned on Friday against any illegal fund flows into...

Published 18 Oct, 2024 10:52am

Stocks

Japan’s Nikkei trades higher after robust US retail data

TOKYO: Japan’s Nikkei share average traded higher on Friday, after robust US retail data for September lifted the...

Published 18 Oct, 2024 10:50am

Mutual Funds

Indian bond yields may rise before supply as US yields hurt

MUMBAI: Indian government bond yields are expected to move marginally higher, tracking a rise in US yields, while...

Published 18 Oct, 2024 10:48am

Exchange

Rupee gains against US dollar

Currency settles at 277.61 against US dollar in inter-bank market

Updated 18 Oct, 2024 11:46pm

Forex

Dollar rides ‘Trump trade’ toward third weekly rise, markets brush off China GDP

SINGAPORE: The dollar was headed for its third weekly gain in a row on Friday, helped by a dovish European Central...

Published 18 Oct, 2024 10:06am

Commodities

London copper rebounds as weak China growth raises hope for more stimulus

Copper prices in London rose on Friday, as data showing weak economic growth in top consumer China emphasized the...

Published 18 Oct, 2024 10:01am

Forex

Australian dollar bathes in jobs afterglow, helped by China stocks

SYDNEY: The Australian dollar extended gains on Friday following a solid jobs report while also getting a helping...

Published 18 Oct, 2024 10:00am

Commodities

Dry weather and Russian export concerns lift wheat

CANBERRA: Chicago wheat rose on Friday, supported by dry conditions in several big exporting nations and concerns...

Published 18 Oct, 2024 09:57am

Energy

Oil prices fall, on track for 8% weekly decline on China demand woes

HOUSTON: Oil futures fell on Friday and were on track for a weekly drop of 8% after data showed China’s economic...

Updated 18 Oct, 2024 08:53pm

Malaysia’s September exports fall 0.3% y/y, below forecast

KUALA LUMPUR: Malaysia’s exports fell 0.3% in September from a year earlier, well below market expectations,...

Published 18 Oct, 2024 09:51am

Stocks

TSMC stock hits new high after posting forecast-beating earnings

TAIPEI: TSMC’s Taipei-listed shares hit a record high on Friday after the chipmaker posted forecast-beating...

Published 18 Oct, 2024 09:40am

Stocks

China stocks rise after central bank details stimulus measures

SHANGHAI/SINGAPORE: Chinese stocks rose on Friday after the central bank urged swift adoption of financial policies...

Published 18 Oct, 2024 09:38am

Commodities

Dalian iron ore falters on China property woes, heads for weekly fall

SINGAPORE: Dalian iron ore futures prices fell on Friday and were on track for a weekly drop, weighed by data...

Published 18 Oct, 2024 09:36am

China approves BNP Paribas, Prudential insurance ventures

HONG KONG: China has approved separate insurance units to be set up by BNP Paribas and Prudential Financial, a...

Published 18 Oct, 2024 09:34am

Stocks

Indian shares drop as Infosys, autos drag

Indian shares opened lower on Friday, as IT bellwether Infosys slid after a disappointing forecast and automakers...

Published 18 Oct, 2024 09:32am

Stocks

PSX raises over Rs1trn via Ijarah Sukuk

KARACHI: Pakistan Stock Exchange (PSX) on Thursday announced achieving a significant milestone - the issuance of GoP...

Published 18 Oct, 2024 07:59am

Industry

Proposed mini-budget rejected: Govt urged to slash power rates by 9pc

LAHORE: The Federation of Pakistan Chambers of Commerce and Industry's top officials, Zakki Ejaz and SM Tanveer,...

Published 18 Oct, 2024 07:43am

Forex reserves up $64m to $16.11bn

KARACHI: The country’s total liquid foreign exchange reserves increased by $64 million to stand at $ 16.11 billion...