News Archives for Business & Finance - 2024-10-28

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Business & Finance - 2024-10-28

Stocks

FFC makes Rs22.6bn profit in 3QCY24, but holds off on dividend amid merger plans

Fauji Fertilizer Company (FFC), one of Pakistan’s largest fertilizer producers, posted a consolidated...

Updated 28 Oct, 2024 10:08pm

Stocks

London stocks climb, energy shares keep gains in check

The UK’s benchmark FTSE 100 index rose on Monday, led by travel and leisure shares as Trainline jumped following a...

Published 28 Oct, 2024 03:01pm

Currency

Kenyan shilling stable, supported by aid agency FX sales

NAIROBI: The Kenyan shilling was steady against the dollar on Monday as international aid agencies converted foreign...

Published 28 Oct, 2024 02:58pm

Companies

Apple iPhone 16 sales blocked in Indonesia due to local parts rule

JAKARTA: Tech giant Apple Inc will not be allowed to sell its iPhone 16 smartphones in Indonesia because they have...

Published 28 Oct, 2024 02:56pm

Forex

Ugandan shilling flat on slump in appetite

KAMPALA: The Ugandan shilling traded flat on Monday, on the back of a general slump in appetite for hard currency...

Published 28 Oct, 2024 02:12pm

Stocks

European shares rise as key data and US tech earnings loom

European shares edged up on Monday as investors prepared for a busy schedule of key economic data releases and...

Published 28 Oct, 2024 01:33pm

Stocks

Major Gulf markets rise as Iran downplays Israel’s strikes

Major stock markets in the Gulf rose in early trade on Monday as tensions eased after Iran played down Israel’s...

Published 28 Oct, 2024 01:19pm

Bullion Rate

Gold price per tola decreases Rs900 in Pakistan

After increasing in the previous session, gold prices in Pakistan declined on Monday in line with their decrease in...

Updated 28 Oct, 2024 06:38pm

Currency

South African rand flat; mid-term budget the week’s highlight

JOHANNESBURG: South Africa’s rand was little changed in early trade on Monday, with Wednesday’s mid-term budget the...

Published 28 Oct, 2024 01:15pm

Companies

Golootlo, Pakistan’s leading discount aggregator, launches SoftPOS powered by Alliance Network

Golootlo, Pakistan’s largest savings platform, has formed a strategic partnership with Alliance Network, a global...

Updated 29 Oct, 2024 02:17pm

Companies

Indus Motor temporarily halts operations citing inventory shortage

Indus Motor Company (INDU), the manufacturer/assembler of Toyota vehicles in Pakistan, has announced to suspend its...

Updated 28 Oct, 2024 10:16pm

Commodities

Palm oil reverses losses on weaker ringgit, technical buying

KUALA LUMPUR: Malaysian palm oil futures inched higher on Monday, as a weaker ringgit and technical buying supported...

Published 28 Oct, 2024 11:34am

Money & Banking

No urgency for ECB to speed up policy easing, Wunsch says

There is no urgency for the European Central Bank to cut interest rates quicker and it could even live with a small,...

Published 28 Oct, 2024 11:29am

Commodities

Base metals fall on caution and disappointing China stimulus

Prices of base metals largely fell on Monday, as caution prevailed amid conflicting signals on demand and ahead of a...

Published 28 Oct, 2024 11:26am

Financial

Abu Dhabi’s Mubadala picks banks for debut 5-year sukuk sale

Abu Dhabi sovereign wealth fund Mubadala Investment Company has hired banks to arrange investor meetings ahead of...

Published 28 Oct, 2024 11:23am

Exchange

Rupee slips lower against US dollar

Currency settles at 277.68 against the greenback in inter-bank market

Updated 28 Oct, 2024 10:39pm

Companies

Indus Motor Company’s profit up 58% at Rs5.09bn in 1QFY25

Indus Motor Company (IMC) reported a profit of Rs5.09 billion for the quarter ended September 30, 2024 (1QFY25), an...

Updated 28 Oct, 2024 12:11pm

Commodities

Soybeans lose more ground, corn at one-week low on supply pressure

SINGAPORE: Chicago soybean futures lost more ground on Monday, while corn slid to its lowest in almost a week, as...

Published 28 Oct, 2024 10:15am

Currency

Australia, NZ dollars gain versus yen on Japan political uncertainty

SYDNEY: The Australian and New Zealand currencies gained against the yen on Monday as Japan’s ruling coalition lost...

Published 28 Oct, 2024 10:09am

Commodities

Oil slides 5% after limited Israeli retaliatory attack on Iran

Brent futures down $4.13, or 5.43%, at $71.92 a barrel

Updated 28 Oct, 2024 08:16pm

Commodities

Japan rubber futures close lower for fourth consecutive session

SINGAPORE: Japanese rubber futures recorded their fourth consecutive session of losses on Monday, weighed down by...

Updated 28 Oct, 2024 01:04pm

Stocks

Some buying momentum persists at PSX, KSE-100 settles above 90,000

Benchmark briefly crosses 91,000 level during intra-day trading on Monday before profit-taking erases gains

Updated 28 Oct, 2024 10:26pm

Commodities

Gold slips as dollar firms; market eyes crucial US data

Gold prices fell on Monday as the U.S. dollar held firm, while investors awaited U.S. economic data for fresh...

Published 28 Oct, 2024 10:00am

Stocks

Japan stocks rally as yen tumbles after coalition drubbing

TOKYO: Japanese stocks rose on Monday as the yen careened to a three-month low after Prime Minister Shigeru Ishiba’s...

Updated 28 Oct, 2024 11:45am

Forex

China’s weakening yuan set to snap three straight months of gains in Oct

SHANGHAI: China’s yuan weakened on Monday to a more than two-month low against the dollar, underpinned by signs of...

Published 28 Oct, 2024 09:54am

Commodities

Dalian iron ore hits more than one-week high on renewed China stimulus hopes

SINGAPORE: Dalian iron ore futures climbed on Monday to their highest in more than a week, as renewed expectations...

Updated 28 Oct, 2024 01:22pm

Financial

India bond yields may inch up tracking US peers

MUMBAI: Indian government bond yields are expected to move slightly higher at the start of this week on Monday,...

Published 28 Oct, 2024 09:42am

Forex

Indian rupee pegged back by dollar, US yields; RBI expected to intervene again

MUMBAI: The Indian rupee is expected to open largely unchanged on Monday, buoyed by expectations of the country’s...

Published 28 Oct, 2024 09:40am

Stocks

South Korean stocks end higher as battery shares shine on Tesla rally

KOSPI closed up 29.16 points, or 1.13%, at 2,612.43

Updated 28 Oct, 2024 12:06pm

Stocks

Miners help Australian shares close slightly higher

Australian shares closed marginally higher on Monday as gains in miners outweighed losses in financials and energy...

Updated 28 Oct, 2024 11:31am

Stocks

China, HK stocks end marginally higher, await key Beijing meeting

SHANGHAI: Mainland China and Hong Kong stocks ended marginally higher on Monday as investors grew cautious ahead of...

Updated 28 Oct, 2024 02:14pm

Forex

Yen slumps as Japan’s election clouds rate rise prospects

SINGAPORE: The yen sank to a three-month low on Monday as investors figured the loss of a parliamentary majority for...

Published 28 Oct, 2024 09:31am

Companies

SDG Impact Framework: Fatima Fertilizer becomes country’s first company to partner with UNDP

LAHORE: Fatima Fertilizer has become the first company in Pakistan to officially partner with the United Nations...

Published 28 Oct, 2024 08:10am

Companies

United Insurance, Mobilink Bank team up to introduce ‘climatic shock insurance’

LAHORE: United Insurance Company and Mobilink Microfinance Bank have come together to launch a groundbreaking...

Published 28 Oct, 2024 08:08am

Industry

PAAPAM concludes PAPS 2024 successfully

LAHORE: The Pakistan Auto Parts Show (PAPS) 2024, hosted by the Pakistan Association of Automotive Parts and...

Published 28 Oct, 2024 08:05am

Taxes

POS invoicing system: Two restaurants sealed for issuing fake receipts

ISLAMABAD: As part of FBR’s drive to bring Tier-1 retailers/ restaurants under the tax net through POS invoicing...

Published 28 Oct, 2024 07:39am

Sharjeel terms Yellow Line BRT ‘significant project for Karachi’

KARACHI: Sindh Senior Minister Sharjeel Inam Memon stated that the Yellow Line BRT is a significant project for the...

Updated 28 Oct, 2024 07:17pm

Industry

Supply-chain due diligence act: German official says opportunity exists for Pakistan to stand out

Florian Walther, Pakistan representative at the German Emirati Joint Council for Industry and Commerce, says act relevant for companies here as well

Updated 28 Oct, 2024 07:19am

Miftah says ‘complete overhaul of system is essential’

HYDERABAD: Former Federal Finance Minister Miftah Ismail has said that reforming Pakistan under the current system ...

Published 28 Oct, 2024 06:21am

Pak-Afghan bilateral trade: Traders present comprehensive proposals

PESHAWAR: Traders presented comprehensive proposals to remove hurdles in Pak-Afghan bilateral trade and transit...

Published 28 Oct, 2024 06:21am

Oil prices likely to fall after Israel shows restraint in strikes on Iran

SINGAPORE/LONDON: Oil prices are expected to fall when trading resumes on Monday as Israel’s retaliatory strike on...

Published 28 Oct, 2024 06:21am

BQATI urges MPC to slash interest rate

KARACHI: Bon Qasim Association of Trade and Industry (BQATI) has called on the Monetary Policy Committee (MPC) to...

Published 28 Oct, 2024 06:21am

PBF leader urges SBP to lower interest rates by 5pc

KARACHI: Captain Abdul Rashid Abro, central leader of the Pakistan Business Forum and former Vice President of...

Updated 28 Oct, 2024 09:26am

IPO market sees significant revival: report

KARACHI: The IPO (Initial Public Offer) market in Pakistan has seen a significant revival in CY24, supported by an...

Published 28 Oct, 2024 06:21am

Industry

Fahd highlights diplomats’ proactive role in shaping a peaceful future

ISLAMABAD: The Diplomatic Business Club, led by Chairman Muhammad Umar Shah, hosted the 8th Annual International Day...

Published 28 Oct, 2024 06:21am

Money & Banking

Most Latam FX fall

BRASILIA: Most Latin American currencies slipped after rising in the last session on Friday, capping of a week of...

Published 28 Oct, 2024 06:21am

Money & Banking

Canadian dollar falls against the greenback

TORONTO: The Canadian dollar weakened to near 12-week low against its US counterpart on Friday, pressured by the ...

Published 28 Oct, 2024 06:21am

Money & Banking

Yuan steady against dollar

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

Published 28 Oct, 2024 06:21am

Money & Banking

Indian rupee ends flat

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

Published 28 Oct, 2024 06:21am

Companies

Mercedes to step up cost cuts after earnings halve

BERLIN: Mercedes-Benz will step up cost cuts after earnings halved in the third quarter hit by tepid demand and...

Published 28 Oct, 2024 06:21am

Taxes

DG I&I (Customs) DG Enforcement (Customs): FBR removes duplication of functions/roles

ISLAMABAD: The Federal Board of Revenue (FBR) has removed duplication of functions/roles between the Directorate...

Updated 28 Oct, 2024 08:13am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Nov 1	277.78
USD PKR Interbank Buying / Nov 1	277.68
USD to Japanese Yen / Nov 1	152.34
USD to Swiss Franc / Nov 1	0.86
Pound Sterling to USD / Nov 1	1.29
Euro to USD / Nov 1	1.09

Stock	Volume
S&P 500 / Oct 31	5,705.45
India Sensex / Oct 31	79,389.06
Nasdaq / Oct 31	18,095.15
Dow Jones / Oct 31	41,763.46
Tokyo Nikkei / Nov 1	38,053.67
Hang Seng / Nov 1	20,497.59
FTSE 100 / Nov 1	8,154.34
Germany DAX 30 / Nov 1	19,132.89

Item	Value
Karachi Cotton PKR/37.32 KG / Oct 31	18,085
Gold 10 Grams PKR / Oct 31	250,518.70
Petrol/Litre / Nov 1	248.38
Crude Oil USD/Barrel / Nov 1	70.52
Gold Spot USD/Ounce / Nov 1	69.64
Diesel/Litre / Nov 1	255.14

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Nov 1 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Nov 1 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Nov 1 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Nov 1 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Nov 1 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Nov 1 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Nov 1 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Nov 1 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Nov 1 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Nov 1 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Nov 1 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Nov 1 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Nov 1 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Nov 1 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Nov 1 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Nov 1 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Nov 1 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Nov 1 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Nov 1 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Nov 1 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Nov 1 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Nov 1 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Nov 1 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Nov 1 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Nov 1 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Nov 1 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Nov 1 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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