News Archives for Business & Finance - 2024-10-21

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Business & Finance - 2024-10-21

AI software firm Zip valued at $2.2 bln in latest funding round

AI business software company Zip said on Monday it was valued at $2.2 billion in a funding round led by technology...

Published 21 Oct, 2024 10:33pm

Companies

Microsoft to let clients build AI agents for routine tasks from November

Microsoft will allow its customers to build autonomous artificial intelligence agents from next month, in its latest...

Published 21 Oct, 2024 07:21pm

Stocks

Gulf bourses end mixed on regional tensions, Q3 earnings

Stock markets in the Gulf were mixed on Monday amid rising geopolitical tensions in the region, while investors...

Published 21 Oct, 2024 07:14pm

Statistics

Pakistan’s REER index drops below 100 for first time in 2024

Pakistan’s Real Effective Exchange Rate (REER), a measure of the value of a currency against a weighted average of...

Updated 21 Oct, 2024 10:36pm

USA

Fed’s Logan eyes more gradual rate cuts amid more balance sheet cuts

NEW YORK: Federal Reserve Bank of Dallas President Lorie Logan said Monday she sees more rate cuts ahead for the...

Published 21 Oct, 2024 05:59pm

Commodities

China rate cuts fuel copper’s climb to one-week peak

LONDON: Copper prices climbed to one-week highs on Monday as interest rate cuts in China raised hopes of stronger...

Published 21 Oct, 2024 05:41pm

Middle East

Retailer Carrefour reviewing work practices at Saudi partner after Amnesty raises concerns

PARIS: French supermarket retailer Carrefour said on Monday it is reviewing how staff are treated at Majid Al...

Updated 21 Oct, 2024 11:13pm

Business & Economy

Pakistan records $119mn current account surplus in September 2024

Development comes on back of massive increase in remittance inflows
This is the second successive month in which Pakistan's current account has posted surplus

Updated 21 Oct, 2024 11:32pm

Stocks

Indian shares dip as dull earnings, profit-booking outweigh HDFC Bank’s boost

Indian shares closed lower on Monday, as lacklustre earnings and another bout of profit-booking overpowered a...

Published 21 Oct, 2024 04:28pm

Stocks

Sri Lanka shares end lower as energy, real estate drag

CSE All-Share index settled 0.03% down at 12,309.33

Published 21 Oct, 2024 04:25pm

Commodities

Palm up on positive export estimates, expectations of weak output

KUALA LUMPUR: Malaysian palm oil futures closed up on Monday, rebounding after two sessions of losses, supported by...

Published 21 Oct, 2024 04:23pm

Mutual Funds

Euro zone government bond yields edge up, await economic data

Euro zone government bond yields edged higher on Monday after dropping late last week as markets increased their...

Published 21 Oct, 2024 02:07pm

Forex

Asian currencies fall on US election bets; stocks wobble

Asian stocks struggled for direction on Monday, while currencies continued to face downward pressure as mounting...

Published 21 Oct, 2024 02:06pm

Forex

South African rand slips as investors eye inflation data

JOHANNESBURG: South Africa’s rand slipped against a stronger dollar on Monday, as investor focus shifts towards...

Published 21 Oct, 2024 02:03pm

Mutual Funds

JGB yields mixed as market weighs BOJ outlook

TOKYO: Japanese government bond (JGB) yields struggled for direction on Monday, with the 10-year JGB yield tracking...

Published 21 Oct, 2024 02:02pm

Stocks

Stock markets mostly fall, oil jumps as China cuts rates

LONDON: Major stock markets dropped Monday and oil prices jumped as traders weighed fresh interest-rate cuts from...

Updated 21 Oct, 2024 05:00pm

BOJ chief Ueda to attend IMF, G20 finance leaders’ gathering

TOKYO: Bank of Japan Governor Kazuo Ueda will travel to the United States on Oct. 22-27 to attend the Group of 20...

Published 21 Oct, 2024 01:57pm

Bullion Rate

Gold prices in Pakistan reach record Rs282,300 per tola

Gold prices in Pakistan maintained their upward trajectory on Monday in line with their increase in the...

Updated 21 Oct, 2024 09:41pm

Companies

Meezan Bank posts Rs26.4bn profit in 3QCY24

Meezan Bank, the country’s largest Islamic bank, posted consolidated earnings of Rs26.36 billion for the third...

Updated 21 Oct, 2024 07:18pm

Companies

Australia’s Qantas told to pay $114,000 to 3 sacked workers in landmark outsourcing case

SYDNEY: A court on Monday ordered Australia’s Qantas Airways to pay a combined A$170,000 ($114,000) to three baggage...

Published 21 Oct, 2024 11:20am

Stocks

KSE-100 Index gains over 800 points amid positive indicators

Pakistan Stock Exchange (PSX) maintained a bullish trend on account of positive economic indicators and relative...

Updated 21 Oct, 2024 11:32pm

Stocks

Asia shares wobble; bitcoin rallies on ‘Trump trade’

SINGAPORE: Asia shares dipped in and out of positive territory on Monday, under pressure from weakness in Chinese...

Published 21 Oct, 2024 11:16am

Commodities

Palm opens higher, buoyed by stronger crude, Chicago soyoil

KUALA LUMPUR: Malaysian palm oil futures rose on Monday, after two sessions of decline, supported by stronger crude...

Published 21 Oct, 2024 11:00am

Forex

China’s yuan steady after LPR cuts, eyes on US election

SHANGHAI: China’s yuan held steady against the US dollar, after the country cut its benchmark lending rates as...

Published 21 Oct, 2024 10:49am

Bullion Rate

Gold hits fresh high in record-setting rally amid global uncertainties

Gold rose to a fresh high on Monday, extending its blazing rally amid uncertainties surrounding the US election,...

Published 21 Oct, 2024 10:39am

Malaysia says advance estimates show Q3 growth at 5.3% y/y

KUALA LUMPUR: Malaysia’s economy likely grew 5.3% in the third quarter from a year earlier, slower than the previous...

Published 21 Oct, 2024 10:36am

Commodities

Wheat ticks up after deep losses; improved weather limits gains

SINGAPORE: Chicago wheat inched up Monday, with bargain buying supporting prices, after the market suffered in its...

Published 21 Oct, 2024 10:33am

Mutual Funds

India bond yields dip on value-buying, lower state debt supply

MUMBAI: Indian government bond yields opened lower on Monday on value buying and as favourable demand-supply...

Published 21 Oct, 2024 10:13am

Forex

Indian rupee will need support from central bank amid possible outflows

MUMBAI: The Indian rupee is expected to hold near all-time lows on Monday amid possible outflows related to the...

Published 21 Oct, 2024 10:11am

Stocks

Australia shares rise; WiseTech Global and MinRes slip on top exec reviews

Australian shares rose on Monday tracking a strong finish on Wall Street on Friday, while stocks in tech major...

Published 21 Oct, 2024 10:04am

Exchange

Rupee slips marginally against US dollar

Currency settles at 277.69 against greenback in inter-bank market

Updated 21 Oct, 2024 10:58pm

Energy

Saudi Aramco CEO says bullish on China and oil demand

SINGAPORE: The head of Saudi Aramco said on Monday that they are fairly bullish on China and oil demand, especially...

Published 21 Oct, 2024 10:00am

Stocks

Tech shares lead Japan’s Nikkei higher in choppy session

TOKYO: Japan’s Nikkei share average rose in a choppy session on Monday, as gains in technology stocks lifted the...

Published 21 Oct, 2024 09:57am

Stocks

Indian shares set to open higher; Street reaction to key earnings eyed

Indian shares are set to open marginally higher on Monday, with market reaction to the earnings of top private...

Published 21 Oct, 2024 09:53am

Forex

Bitcoin at 3-month high as Trump odds drive currencies

SINGAPORE: Cryptocurrency bitcoin hit a three-month high in early Asia trading on Monday and the dollar looked set...

Published 21 Oct, 2024 09:49am

Stocks

China stocks open firmer, rates cut as expected; HK stocks down

SHANGHAI: China stocks opened higher on Monday, after Beijing cut the benchmark lending rates as expected, while...

Published 21 Oct, 2024 09:42am

Energy

Oil prices gain, recouping some of last week’s 7% loss

Brent crude futures up 58 cents, or 0.79%, at $73.63 a barrel

Updated 21 Oct, 2024 10:21pm

Companies

Nestle Pakistan selects Publicis Media as media agency partner

KARACHI: Publicis Media has been selected by Nestlé Pakistan to oversee its media strategy in Pakistan, aiming to...

Published 21 Oct, 2024 07:43am

Companies

Top performers of PTCL’s ‘Ba-Ikhtiyar’ programme attend GITEX 2024 in Dubai

KARACHI: Pakistan’s leading telecommunications and ICT provider, PTCL Group (PTCL & Ufone 4G) showcased its...

Published 21 Oct, 2024 07:18am

Money & Banking

Russian rouble slips against dollar and yuan

MOSCOW: The rouble weakened slightly against the US dollar and the Chinese yuan, continuing an eight-week weakening...