News Archives for Business & Finance - 2024-10-22

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Business & Finance - 2024-10-22

Companies

‘No change for consumers’: generation tariff approved for KE power plants post-June 2023

The National Electric Power Regulatory Authority (NEPRA) has approved generation tariff for K-Electric Limited (KEL)...

Updated 22 Oct, 2024 10:53pm

Europe

IMF cuts forecasts for German economy this year and next

BERLIN: The German economy is expected to stagnate this year, the International Monetary Fund said on Tuesday,...

Published 22 Oct, 2024 07:28pm

Europe

IMF raises UK’s 2024 GDP growth forecast as Reeves readies budget

WASHINGTON: The International Monetary Fund on Tuesday raised its forecast for British economic growth this year,...

Published 22 Oct, 2024 07:25pm

South Asia

IMF chief economist says lack of domestic demand fuels China’s export growth

WASHINGTON: China’s industrial policy may be tipping the scales in some specific industries, but it is not the root...

Published 22 Oct, 2024 07:19pm

South Asia

IMF cuts Japan’s growth forecast, projects rebound in 2025

TOKYO: The International Monetary Fund (IMF) on Tuesday cut this year’s economic growth forecast for Japan, but...

Published 22 Oct, 2024 07:13pm

Middle East

IMF lowers Saudi Arabia’s 2024 growth forecast to 1.5%

ABU DHABI: The International Monetary Fund further lowered its GDP growth forecast for Saudi Arabia for 2024 to 1.5%...

Published 22 Oct, 2024 07:06pm

Stocks

Gulf bourses end lower on geopolitical tensions

Stock markets in the Gulf ended lower on Tuesday as geopolitical tension gripped the region and corporate earnings...

Published 22 Oct, 2024 06:58pm

Money & Banking

IMF lifts US growth forecast but marks down China; sees lackluster global economy

WASHINGTON: The International Monetary Fund on Tuesday raised its 2024 economic growth forecasts for the U.S.,...

Published 22 Oct, 2024 06:52pm

Stocks

Sri Lankan shares end little changed

CSE All-Share index settled 0.08% lower at 12,300.02 points

Published 22 Oct, 2024 05:17pm

Stocks

Indian benchmarks log worst session in three weeks; small-, mid-caps underperform

Indian shares posted their biggest single-day drop in about three weeks on Tuesday, weighed down by slowing...

Published 22 Oct, 2024 04:48pm

Commodities

Aluminium rallies on record high raw material prices

LONDON: Aluminium prices rose on Tuesday as the cost of raw material alumina set a record high, increasing...

Published 22 Oct, 2024 04:46pm

Commodities

Palm oil surges more than 2% on stronger rival oils

KUALA LUMPUR: Malaysian palm oil futures rose more than 2% on Tuesday, boosted by strength in rival oils. The...

Published 22 Oct, 2024 04:44pm

Business & Economy

Stay the course on reforms, IMF urges Pakistan

Remarks come as Pakistan delegation meets Middle East and Central Asia Department (MCD) Director Jihad Azour on sidelines of IMF, World Bank annual meetings in Washington

Updated 22 Oct, 2024 10:53pm

Apple CEO visits China for second time this year as sales slump

BEIJING: Apple CEO Tim Cook was in China for the second time this year, he said on social media Tuesday, as the US...

Published 22 Oct, 2024 02:38pm

Business & Economy

Pakistan’s accelerated access to capital markets: Alvarez & Marsal team outlines steps

Alvarez & Marsal team has outlined steps for Pakistan to chart an accelerated path to international capital...

Updated 22 Oct, 2024 11:29pm

Forex

Australia, NZ dollars pinned near multi-month lows as US yields surge

SYDNEY: The Australian and New Zealand dollars were stuck near multi-month lows on Tuesday as higher Treasury yields...

Published 22 Oct, 2024 12:48pm

Energy

Going green: Lucky Cement completes 28.8MW wind power project

Lucky Cement, one of Pakistan’s largest manufacturers of the commodity, completed and commissioned the 28.8MW...

Updated 22 Oct, 2024 10:40pm

Stocks

KSE-100 extends gain to close at fresh record high

Pakistan stocks have been on a red-hot rally on account of improving economic indicators, some level of political stability

Updated 22 Oct, 2024 08:23pm

Commodities

London copper drifts up as China hopes offset firmer dollar

London copper prices ticked higher on Tuesday, as hopes about further stimulus measures and demand recovery in top...

Published 22 Oct, 2024 11:06am

Stocks

Bonds slide, stocks slip as US election looms

SINGAPORE: Asian stocks turned lower and the dollar stood by multi-month peaks on Tuesday as a sharp sell-off in...

Published 22 Oct, 2024 10:55am

Commodities

Palm oil gains on stronger Dalian rivals and weaker ringgit

KUALA LUMPUR: Malaysian palm oil futures opened higher on Tuesday, supported by stronger Dalian rivals and a weaker...

Published 22 Oct, 2024 10:52am

Companies

Adani’s Ambuja Cements to acquire stake in India’s Orient Cement at $964mn valuation

India’s Ambuja Cements said on Tuesday it would acquire a 46.8% stake in Orient Cement , valuing the company at 81...

Published 22 Oct, 2024 10:43am

Currency

Rupee sees marginal decline against US dollar

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

Updated 22 Oct, 2024 06:41pm

Bullion Rate

Gold hovers near record high on safe-haven demand

Gold prices rose on Tuesday and hovered near a record high hit in the previous session amid uncertainties around the...

Published 22 Oct, 2024 10:40am

Commodities

China iron ore imports head for record even as steel output slips: Russell

LAUNCESTON: China is on track to import record volumes of iron ore in October, increasing the divergence between the...

Published 22 Oct, 2024 10:37am

Forex

China’s yuan edges down as ‘Trump trade’ supports dollar

HONG KONG: China’s yuan dipped slightly on Tuesday as the dollar was underpinned by rising odds of former President...

Published 22 Oct, 2024 10:17am

Commodities

Soybeans ease as ample global supplies weigh, wheat falls 1%

SINGAPORE: Chicago soybean futures edged lower on Tuesday as ample global supplies of the oilseed weighed on the...

Published 22 Oct, 2024 10:10am

Stocks

Australian shares fall in broad-based sell-off; WiseTech, Mineral Resources top laggards

Australian shares fell nearly 1% on Tuesday tracking weakness in global markets, with tech firm WiseTech Global and...

Published 22 Oct, 2024 09:59am

Forex

India central bank to help Indian rupee contend with soaring US yields

MUMBAI: The Indian rupee is likely to open nearly unchanged on Tuesday and trade in a narrow range amid expectations...

Published 22 Oct, 2024 09:57am

Stocks

Indian shares set to open flat

Indian shares are set to open flat on Tuesday, with lacklustre earnings and sustained foreign selling weighing on...

Published 22 Oct, 2024 09:55am

Stocks

China and Hong Kong stocks edge down, stimulus effectiveness in focus

SHANGHAI: China and Hong Kong stocks opened lower on Tuesday as investors digested Beijing’s latest stimulus...

Published 22 Oct, 2024 09:53am

Forex

Dollar steady at August high on US rates view, election

SINGAPORE: The US dollar clung to a two-and-half-month high on Tuesday on expectations the Federal Reserve will take...

Published 22 Oct, 2024 09:49am

Energy

Oil rises as Middle East war rages, traders focus on falling inventories

NEW YORK: Oil prices rose for the second consecutive session on Tuesday, as traders downplayed hopes of a Middle...

Updated 22 Oct, 2024 09:54pm

Agriculture and Allied

Farmer bodies assail govt for allowing ‘unlimited’ wheat import

LAHORE: The Pakistan Kissan Rabita Committee and Sawera Foundation held a seminar and demonstration on Monday...

Published 22 Oct, 2024 07:44am

Companies

Telenor Pak signs MoU with Crop2X

ISLAMABAD: Telenor Pakistan has signed a memorandum of understanding (MoU) with Crop2X, a leading agri-tech company,...

Published 22 Oct, 2024 07:08am

ANOG conference commences today

ISLAMABAD: The 42nd South Asian Network Operators Group (SANOG) conference commenced today, gathering experts from...

Published 22 Oct, 2024 07:02am

Minister, ADB official discuss uplift projects

ISLAMABAD: The Country Director of the Asian Development Bank (ADB), Emma Fan, met with the Minister for Planning,...

Updated 22 Oct, 2024 07:58am

FBR lists cases pending implementation of FTO rulings

ISLAMABAD: The Federal Board of Revenue (FBR) has compiled a list of important cases where decisions of the Federal...

Updated 22 Oct, 2024 08:50am

Energy

Qatar LNG sales to key Asian markets confronted by US-UAE rivalry

DOHA: Qatar is finding it hard to agree new deals to supply liquefied natural gas (LNG) to Japan and South Korea as...