Money & Banking Bank of Canada cuts rates by 50 bps, hails ‘good news’ on low inflation OTTAWA: The Bank of Canada on Wednesday reduced its key benchmark rate by 50 basis points to 3.75%, its first... Published 23 Oct, 2024 07:54pm
Money & Banking World Bank says will double agricultural commitments to $9bn a year by 2030 WASHINGTON: The World Bank will double its commitment for investments in agricultural financing and businesses to $9... Published 23 Oct, 2024 07:38pm
Money & Banking Majority expect up to 200bps reduction in key policy rate in upcoming MPC meeting, AHL survey finds The State Bank of Pakistan (SBP) might opt to further reduce the key policy rate by up to 200 basis points (bps) in... Updated 23 Oct, 2024 10:00pm
Stocks Most Gulf markets in red on heightened regional tensions Most stock markets in the Gulf ended lower on Wednesday as geopolitical tensions in the region depressed sentiment,... Published 23 Oct, 2024 06:54pm
South Asia Germany bets on India to reduce reliance on China BERLIN: Chancellor Olaf Scholz leads a high-level delegation to New Delhi this week, betting that greater access to... Published 23 Oct, 2024 06:30pm
Stocks Indian blue-chips succumb to selling pressure for third straight day Indian equity benchmarks slipped for a third straight session on Wednesday, as dull corporate earnings and sustained... Published 23 Oct, 2024 06:10pm
Stocks Sri Lanka shares end higher as industrials, financials gain CSE All-Share index settled 0.47% higher at 12,357.45 Published 23 Oct, 2024 06:08pm
Commodities Aluminium climbs as raw material shortage triggers fund buying LONDON: Aluminium prices rose to their highest in almost 20 days on Wednesday as news of alumina shortages triggered... Published 23 Oct, 2024 06:06pm
Commodities Palm hits highest level in over two years due to weak output, policy moves by top producers KUALA LUMPUR: Malaysian palm oil futures rose to their highest levels in more than two years on Wednesday, supported... Published 23 Oct, 2024 06:04pm
Pakistani venture Sarmayacar says Green Climate Fund pledges $15 million KARACHI: The Green Climate Fund (GCF) has committed $15 million to Pakistani venture capital firm Sarmayacar, the... Published 23 Oct, 2024 06:00pm
Stocks KSE-100 hits record high, surges past 87,000 amid energy sector rally Index has been on a winning run for weeks with positive economic indicators also contributing to the bullish run Updated 23 Oct, 2024 10:44pm
UAE lender ADCB posts 23% rise in Q3 net profit, beats estimates DUBAI: Abu Dhabi Commercial Bank beat forecasts with a 23% rise in third-quarter profit on Wednesday helped by... Published 23 Oct, 2024 03:33pm
Money & Banking MCB Bank posts Rs18.1bn profit in 3Q2024, down 8% YoY MCB Bank Limited, one of Pakistan’s largest commercial banks, reported a profit-after-tax (PAT) of Rs18.13 billion... Updated 23 Oct, 2024 06:12pm
Bullion Rate New record: gold price per tola increases Rs2,000 in Pakistan Gold prices in Pakistan maintained their upward trajectory on Wednesday in line with their increase in international... Updated 23 Oct, 2024 05:37pm
Forex South African rand little changed; CPI data in focus JOHANNESBURG: The South African rand was little changed in early trade on Wednesday, before the release of local... Published 23 Oct, 2024 01:44pm
Commodities Iron ore falls on weaker global steel outlook, China growth forecasts SINGAPORE: Iron ore futures extended losses to a second session on Wednesday, as a weaker global steel market... Published 23 Oct, 2024 01:39pm
Energy OGDCL finds new gas reserves in Sindh Oil and Gas Development Company Limited (OGDCL), Pakistan’s largest exploration and production (E&P) company,... Updated 23 Oct, 2024 11:25pm
Commodities Jordan issues tender for up to 120,000 T of wheat, traders say HAMBURG: Jordan’s state grain buyer has issued an international tender to buy up to 120,000 metric tons of milling... Published 23 Oct, 2024 01:24pm
Energy India’s diesel consumption to rise 3%-4% in current fiscal year, says Indian Oil chair India’s annual diesel consumption is expected to rise by 3%-4% in the current fiscal year to March 31, said V.... Published 23 Oct, 2024 01:22pm
Stocks Stock markets mixed, oil prices drop LONDON: European and Asian stock markets traded mixed Wednesday and oil prices retreated as investors focused on... Updated 23 Oct, 2024 04:37pm
Business & Economy Pakistan to explore international capital markets in due course, says Aurangzeb Finance minister briefs CitiBank delegation on government reforms Updated 23 Oct, 2024 11:24pm
Forex Kenyan shilling unmoved against dollar on month-end FX supply NAIROBI: The Kenyan shilling was unmoved against the dollar on Wednesday, as exporters converted dollars to the... Published 23 Oct, 2024 12:47pm
Starbucks preliminary results show declining sales NEW YORK: US coffee giant Starbucks on Tuesday released preliminary results showing that sales are continuing to... Published 23 Oct, 2024 12:38pm
Stocks Asian markets mixed as rate cut bets are trimmed; US vote in focus HONG KONG: Asian equities diverged Wednesday after another unremarkable day on Wall Street, where rising bond yields... Published 23 Oct, 2024 12:15pm
Energy Power generation in Pakistan falls in September amid rising costs, shift to renewables Power generation in Pakistan stood at 12,487 GWh (17,343 MW) in September 2024, a decline of over 6% YoY compared to... Updated 23 Oct, 2024 10:49pm
Australia’s Qantas hits record high as Jefferies lifts price target Shares of Qantas Airways hit an all-time high on Wednesday after Jefferies analysts hiked their price target on... Published 23 Oct, 2024 10:55am
Stocks China stocks find footing as stimulus awaited SINGAPORE: China and Hong Kong stocks made a steady open of trade on Wednesday, as the promise of government help... Published 23 Oct, 2024 10:53am
Bullion Rate Safe-haven gold hits record high on global uncertainties Gold prices surged to a record high on Wednesday, as conflicts in the Middle East and uncertainty surrounding the... Published 23 Oct, 2024 10:51am
Goldman cuts Indian equities to ‘neutral’ as economic, earnings growth slows Goldman Sachs tactically lowered Indian equities to “neutral” from “overweight” on Tuesday, as the country’s slowing... Published 23 Oct, 2024 10:49am
Commodities Soybeans rise for third session on strong demand; wheat falls SINGAPORE: Chicago soybeans gained more ground on Wednesday, underpinned by a heightened global demand for the... Published 23 Oct, 2024 10:47am
Forex Indian rupee to hold near all-time low on higher US yields, upbeat dollar MUMBAI: The Indian rupee is likely to hold near lifetime low on Wednesday after US Treasury yields climbed to a... Published 23 Oct, 2024 10:44am
Mutual Funds India bond yields seen little changed; cenbank policy minutes in focus MUMBAI: Indian government bond yields are expected to be largely unchanged in the early trading session on... Published 23 Oct, 2024 10:40am
Commodities Palm rises for third straight day on firmer rival oils, weaker ringgit KUALA LUMPUR: Malaysian palm oil futures opened higher for a third straight session on Wednesday, buoyed by stronger... Published 23 Oct, 2024 10:37am
Stocks Japan’s Nikkei trades marginally higher amid caution ahead of election TOKYO: Japan’s Nikkei share average was marginally higher on Wednesday as caution ahead of the country’s upcoming... Published 23 Oct, 2024 10:35am
Exchange Rupee stable against US dollar Currency settles at 277.73 against greenback in inter-bank market Updated 23 Oct, 2024 07:22pm
Forex Australia, NZ currencies under pressure again as dollar dominates SYDNEY: The Australian and New Zealand dollars were again under pressure on Wednesday, having caught some respite... Published 23 Oct, 2024 10:21am
Stocks Australian shares rise on commodity boost; QBE Insurance falls on regulatory woes Australian shares rose on Wednesday, buoyed by commodity stocks, while QBE Insurance fell after the country’s... Published 23 Oct, 2024 10:17am
Stocks Indian shares set to open marginally higher after two-session drop Indian shares will likely open marginally higher on Wednesday, after two straight days of losses on persistent... Published 23 Oct, 2024 10:15am
Forex Fed outlook pushes dollar to 2 1/2 month peak; yen under pressure TOKYO: The US dollar hovered at a 2-1/2-month peak on Wednesday as investors adjusted bets toward a gradual... Published 23 Oct, 2024 10:09am
Energy Oil slips 1% on large build in US crude stocks; market watches Middle East NEW YORK: Oil prices fell on Wednesday after data showed U.s. crude inventories rose by more than expected even as... Updated 23 Oct, 2024 09:39pm
Industry LCCI holds awareness session on income tax return filing LAHORE: The Lahore Chamber of Commerce & Industry (LCCI) has organised an awareness session on the filing of... Published 23 Oct, 2024 08:07am
IMF predicts slightly slower global growth in 2024 and 2025 WASHINGTON: Global growth is expected to ease slightly to 3.2 percent this year and remain at that level in 2025, ... Published 23 Oct, 2024 07:54am
Agriculture and Allied Use of tech can benefit farmers, enhance food security: experts KARACHI: Pakistan’s crop yields can be elevated to global averages through product innovation and the integration... Published 23 Oct, 2024 07:50am
Industry Most of super stores linked with POS discharging tax liabilities: FCCI FAISALABAD: Most of the Super Stores are linked with Point of Sale (POS) and are discharging their tax liabilities... Published 23 Oct, 2024 07:50am
Experts optimistic about fintech sector prospects KARACHI: Experts said the fintech sector is set to emerge in Pakistan with innovative products and services to... Published 23 Oct, 2024 07:42am
Global markets might be underestimating geopolitical risks: IMF WASHINGTON: Near-term global financial risks are contained, but monetary policy easing could fuel asset price ... Published 23 Oct, 2024 06:22am
Energy Nepra approves generation tariff for KE ISLAMABAD: National Electric Power Regulatory Authority (Nepra) has approved generation tariff of K-Electric (KE)... Updated 23 Oct, 2024 09:24am
Taxes SRO 350(I)/2024: FTO raises tax return concerns ISLAMABAD: The Federal Tax Ombudsman (FTO) has expressed serious concern that Federal Board of Revenue’s SRO... Published 23 Oct, 2024 06:22am
SECP, PSX host ‘IPO Roundtable 2024’ KARACHI: The Securities & Exchange Commission of Pakistan (SECP) and Pakistan Stock Exchange (PSX), in a... Published 23 Oct, 2024 06:22am
UBG lauds signing of two accords with Malaysia to boost economic ties KARACHI: United Business Group (UBG) President Zubair Tufail, other members including Khalid Tawab, Hanif Gohar, ... Published 23 Oct, 2024 06:22am
Companies GITEX Global: PTCL, China Mobile team up to enhance international connectivity KARACHI: Pakistan’s largest telecommunication and integrated ICT services provider, Pakistan Telecommunication... Published 23 Oct, 2024 06:22am
Money & Banking Indian rupee slips to all-time low MUMBAI: The Indian rupee slipped to an all-time low on Tuesday, pressured by weakness in its regional peers and... Published 23 Oct, 2024 06:22am
Money & Banking Dollar hits fresh 2-1/2 month high NEW YORK: The US dollar rose to a fresh 2-1/2 month high on Tuesday, continuing its recent rise on expectations the... Published 23 Oct, 2024 06:22am
Money & Banking Asian currencies: Malaysian ringgit at near 6-week low BENGALURU: Most emerging Asian currencies retreated on Tuesday, with the Indonesian rupiah and the Malaysian ringgit... Published 23 Oct, 2024 06:22am
Strategic planning to overcome maritime challenges stressed ISLAMABAD: The National Institute of Maritime Affairs (NIMA), in collaboration with the Institute of Strategic... Updated 23 Oct, 2024 07:46am