News Archives for Business & Finance - 2024-10-25

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Business & Finance - 2024-10-25

BYD bookings open: electric vehicles priced between Rs8,990,000, Rs16,990,000,

Mega Motors begins pre-orders for BYD ATTO 3, BYD SEAL

Published 25 Oct, 2024 10:14pm

Stocks

TSX opens higher on strength in energy stocks

Canada’s main stock index opened higher on Friday due to gains in energy and real estate shares, while investors...

Published 25 Oct, 2024 09:08pm

Stocks

Wall Streets opens higher as yields ease

Wall Street’s main indexes opened higher on Friday, as Treasury yields eased and investors looked ahead to quarterly...

Published 25 Oct, 2024 09:07pm

Intel to invest more than $28bn to build two chip factories in Ohio

Intel said on Friday it would invest more than $28 billion to construct two new chip factories in Licking County,...

Published 25 Oct, 2024 09:05pm

Stocks

Sri Lankan shares log sixth straight weekly gains

Sri Lankan shares closed higher on Friday, aided by industrials and financial stocks. Sri Lankan shares end little...

Published 25 Oct, 2024 09:04pm

Mutual Funds

US yields ebb as traders wait on jobs data, US elections

US Treasury yields dipped on Friday as investors wait on key employment data next week for fresh clues on the likely...

Published 25 Oct, 2024 09:03pm

Commodities

Brazil’s sugar output up 8% in early October, UNICA says

Sugar production in Brazil’s key center-south region totaled 2.44 million metric tons in the first half of October,...

Published 25 Oct, 2024 09:01pm

Companies

MG reveals innovative vehicles at PAPS Auto Show 2024

MG Motor, the iconic British automotive brand with nearly a century-long legacy of design and innovation, made a...

Published 25 Oct, 2024 09:00pm

China Evergrande’s EV unit to cease discussions for stake sale

China Evergrande New Energy Vehicle said on Friday that its potential sellers have decided to cease talks for a...

Published 25 Oct, 2024 08:51pm

Commodities

Argentina’s wheat exports could hit second-highest on record for 2024/25, exchange says

Argentina’s wheat exports could hit 13.3 million metric tons for the 2024/25 season, which would mark the...

Published 25 Oct, 2024 08:50pm

Commerzbank CEO focused on standalone strategy amid UniCredit interest

WASHINGTON: Commerzbank CEO Bettina Orlopp said on Friday that the lender was focusing on its standalone strategy,...

Published 25 Oct, 2024 08:48pm

Mutual Funds

Euro zone yields rise after better than expected data

LONDON: Euro zone government bond yields rose on Friday as a survey showing better than expected business sentiment...

Published 25 Oct, 2024 07:35pm

Commodities

Corn, soybeans ease after export-driven rally

PARIS/SINGAPORE: Chicago corn and soybean futures dipped on Friday as traders booked profits after two-week highs...

Published 25 Oct, 2024 07:34pm

Energy

Asian spot LNG prices rise on supply concerns, geopolitical tensions

LONDON: Asian spot liquefied natural gas (LNG) recorded its second weekly gain since the end of August, amid...

Published 25 Oct, 2024 07:32pm

Stocks

UAE markets gain on resumption of Gaza ceasefire talks

Stock exchanges in United Arab Emirates rose on Friday as the planned resumption of Gaza ceasefire talks in the...

Published 25 Oct, 2024 07:31pm

UBS fund management arm reports 3% stake in Swiss National Bank

UBS Fund Management (Switzerland) AG now holds a 3% stake in Swiss National Bank, according to an October filing...

Published 25 Oct, 2024 07:29pm

IMF urges African oil exporters’ reforms to boost ‘subdued’ growth

NAIROBI/WASHINGTON: Sub-Saharan African nations that depend on commodity exports need to reform their economies to...

Published 25 Oct, 2024 07:26pm

Commodities

Zinc slides as inventory arrivals ease supply fears

LONDON: Zinc prices slumped on Friday, retreating from the previous session’s 20-month high, as inventory inflows...

Published 25 Oct, 2024 07:23pm

Russia hikes interest rates to 21%, highest since 2003

MOSCOW: Russia’s central bank hiked interest rates to 21 percent on Friday, taking borrowing costs to their highest...

Published 25 Oct, 2024 05:51pm

Companies

OGDC’s profit down 16% in 1QFY25 amid lower sales

Oil and Gas Development Company Limited (OGDCL), the country’s largest exploration and production (E&P) company,...

Updated 25 Oct, 2024 07:30pm

Stocks

FTSE 100 set for weekly losses on mixed earnings, budget anticipation

London’s blue-chip stock index slipped on Friday and was on track for weekly losses, as investors assessed a mixed...

Published 25 Oct, 2024 03:13pm

Currency

South African rand softer; focus on mid-term budget next week

JOHANNESBURG: South Africa’s rand weakened in early trade on Friday while local investors geared up for the...

Published 25 Oct, 2024 02:42pm

Stocks

European shares slip on auto pressure, set for weekly loss

Europe’s main stock index ticked lower on Friday as bleak earnings from automobile firms Valeo and Mercedes dragged...

Published 25 Oct, 2024 01:58pm

Bullion Rate

Gold price per tola decreases Rs800 in Pakistan

Gold prices in Pakistan declined further on Friday in line with their decrease in international rates. In the local...

Updated 25 Oct, 2024 04:39pm

Companies

Lotte Chemical’s profit plunges 75% in 3QCY24

Despite higher revenue, Lotte Chemical Pakistan Limited (LOTCHEM), a subsidiary of South Korean chemical giant Lotte...

Updated 25 Oct, 2024 10:46pm

Currency

Kenyan shilling unchanged against dollar, LSEG data shows

NAIROBI: The Kenyan shilling was unmoved against the dollar on Friday, data from the London Stock Exchange Group...

Published 25 Oct, 2024 12:04pm

Commodities

Copper set for weekly decline on China stimulus disappointment

Copper prices rose slightly on Friday, but remained on track to end the week lower after stimulus measures from top...

Published 25 Oct, 2024 11:45am

Europe

World Bank in talks to increase $35bn Turkiye exposure

ISTANBUL: The World Bank is holding talks with Turkiye to increase financing to Ankara beyond the $35 billion it has...

Published 25 Oct, 2024 11:29am

South Asia

China to offer Taliban tariff-free trade as it inches closer to isolated resource-rich regime

BEIJING: China will offer the Taliban tariff-free access to its vast construction, energy and consumer sectors,...

Updated 25 Oct, 2024 10:47pm

Stocks

Asia markets split after Tesla boosts Wall Street

HONG KONG: Japanese shares fell but Chinese markets gained in a disjointed start to Asian trade on Friday, after...

Published 25 Oct, 2024 11:04am

Bullion Rate

Gold falls on profit taking after record rally

LONDON: Gold prices fell on Friday as some investors booked profit after a recent rally that pushed bullion to a...

Updated 25 Oct, 2024 07:02pm

Commodities

Japan rubber futures fall on supply prospects, set for weekly loss

SINGAPORE: Japanese rubber futures fell for a third straight session on Friday and were poised for a weekly loss, as...

Published 25 Oct, 2024 10:45am

Stocks

South Korean shares rise as chipmaker SK Hynix extends gains; set for weekly loss

KOSPI was up 5.75 points, or 0.22%, at 2,586.78

Published 25 Oct, 2024 10:42am

Currency

Indian rupee ends flat on day, week; central bank interventions cap pressure

MUMBAI: The Indian rupee ended nearly unchanged on Friday, managing to hold its ground in the face of weakness in...

Updated 25 Oct, 2024 03:16pm

Currency

Australia, NZ dollars shaky, set for fourth straight week of losses

SYDNEY: The Australian and New Zealand dollars stuttered on Friday, and were poised for the fourth week of losses as...

Published 25 Oct, 2024 10:35am

Exchange

Rupee gains against US dollar

Currency settles at 277.64 against the greenback in inter-bank market

Updated 25 Oct, 2024 10:45pm

Forex

China’s yuan heads for 4th weekly decline amid worries of a possible Trump win

SHANGHAI: China’s yuan held steady against the dollar on Friday, but is headed for its fourth weekly decline amid a...

Published 25 Oct, 2024 10:20am

Commodities

Dalian iron ore climbs after 3-day slide, on track for weekly gain

SINGAPORE: Dalian iron ore futures prices climbed on Friday after a three-session slide and were on track for a...

Published 25 Oct, 2024 10:10am

Stocks

KSE-100 closes shy of record 90,000 mark, continues winning streak amid strong buying

Benchmark index hits historic 90,000 level for first time during intra-day trading on Friday

Updated 25 Oct, 2024 10:46pm

Commodities

Soybeans set for first weekly gain in a month on booming US exports

SINGAPORE: Chicago soybeans dipped on Friday, but the market remained on track for its first week of gains in a...

Published 25 Oct, 2024 09:56am

Mutual Funds

India bond yields rise after debt supply, close higher for week

MUMBAI: Indian government bond yields ended higher to wrap up the last trading session of the week, which saw little...

Updated 25 Oct, 2024 07:09pm

Commodities

Palm falls as India shuns premium prices, still logs best week in 16 months

KUALA LUMPUR: Malaysian palm oil futures closed lower on Friday but still logged its highest weekly gain in more...

Updated 25 Oct, 2024 07:17pm

Stocks

Australia shares end slightly higher on Wall Street-led tech boost, as WiseTech jumps

Australian shares closed higher on Friday, underpinned by technology stocks as overnight gains on Wall Street...

Updated 25 Oct, 2024 12:02pm

Stocks

China and HK stocks rise, but stimulus, US election uncertainty temper gains

SHANGHAI: China stocks rose on Friday, gaining for the second week in a row, though investors were reluctant to...

Updated 25 Oct, 2024 01:57pm

Stocks

Japan’s Nikkei posts weekly fall amid domestic election jitters

TOKYO: Japan’s Nikkei share average marked a second week of declines on Friday as investors weighed the risk...

Updated 25 Oct, 2024 07:21pm

Stocks

Indian shares log worst weekly run in 14 months on foreign outflows, frail earnings

Indian shares logged their longest weekly losing run since August 2023 on Friday, intensifying a broad-based selloff...

Updated 25 Oct, 2024 07:19pm

Energy

Oil set for 3% weekly gain, investors weigh Middle East risk

HOUSTON: Oil prices were on track to gain around 3% on the week as Friday’s prices ticked up, with investors taking...

Updated 25 Oct, 2024 09:43pm

Forex

Yen wobbles, vulnerable to political reverberations

SINGAPORE: The yen languished near a three-month trough on Friday and was headed for a fourth straight weekly loss,...

Published 25 Oct, 2024 09:39am

Companies

Some 28 firms honoured at MAP’s CEA ceremony

KARACHI: Some 28 companies were honoured in the Management Association of Pakistan’s (MAP) 39th Corporate...

Published 25 Oct, 2024 08:26am

Industry

Hub Chamber demands 4pc reduction in mark-up

KARACHI: Yakoob H Karim, President and the Executive Committee of the Hub Chamber of Commerce and Industry demanded...

Published 25 Oct, 2024 08:13am

Third Belt & Road Ministerial Conference: Leghari, Chinese energy cos hold fruitful discussions

ISLAMABAD: Minister for Power, Sardar Awais Ahmad Khan Leghari held meetings with Yao Huan, Vice-President of Power...

Published 25 Oct, 2024 08:10am

Agriculture and Allied

Global Fertilizer Day: ‘Crop yields can be elevated to global averages’

KARACHI Pakistan’s crop yields can be elevated to global averages through product innovation and the integration ...

Published 25 Oct, 2024 08:07am

Companies

PTCL partners with Systems Ltd at GITEX 2024

KARACHI: Pakistan Telecommunication Company Limited (PTCL) has forged a strategic partnership with Systems Limited, ...

Published 25 Oct, 2024 08:06am

Industry

KCCI urges federal, provincial govts to restore six-day work week

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

Published 25 Oct, 2024 08:04am

Companies

ARL awarded Best Corporate Excellence Award by MAP

ISLAMABAD: Attock Refinery Limited (ARL) has received the Best Corporate Excellence Award in the refinery sector ...

Published 25 Oct, 2024 08:03am

Companies

100pc shareholding in Telenor, Orion Towers: CCP to address concerns in PTCL’s proposed acquisition

ISLAMABAD: The Competition Commission of Pakistan (CCP) remains committed to addressing concerns in the ongoing ...

Published 25 Oct, 2024 08:02am

Customs agents licensing rules 2001: ‘FBR resolves most of issues’

KARACHI: Saifullah Khan, Chairman All Pakistan Customs Agents Association (APCAA) said that the Federal Board of...

Published 25 Oct, 2024 08:00am

‘Pakistan embarking on process of digital transformation’

ISLAMABAD: Pakistan is embarking on the process of digital transformation, said Minister of State for IT and...

Published 25 Oct, 2024 07:58am

Industry

KATI seeks cut in interest rate immediately

KARACHI: Korangi Association of Trade and Industry (KATI) President Junaid Naqi has urged the State Bank and the...

Published 25 Oct, 2024 07:56am

Industry

NKAATI demands to reduce interest rate by 4pc in MP

KARACHI: Faisal Moiz Khan, President of the North Karachi Association of Trade and Industry (NKAATI), stated that in...

Published 25 Oct, 2024 07:54am

Industry

‘Dining in the Dark Experience’: OICCI hosts event to unite foreign investors for disability inclusion

KARACHI: The Overseas Investors Chamber of Commerce and Industry (OICCI) organised a unique event, the “Dining in...

Published 25 Oct, 2024 07:51am

200bps cut in key policy rate likely

KARACHI: With the State Bank of Pakistan (SBP) set to hold its Monetary Policy Committee (MPC) meeting on November ...