News Archives for Business & Finance - 2024-11-05

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Business & Finance - 2024-11-05

Business & Economy

Pakistan desires to strengthen ties with Iran: PM Shehbaz

Prime Minister Shehbaz Sharif on Tuesday said Pakistan desires to further strengthen its brotherly relationship with...

Published 05 Nov, 2024 10:51pm

Stocks

Most Gulf markets gain ahead of US election

Most stock markets in the Gulf rose on Tuesday as markets waited for early indications of the outcome of a...

Updated 05 Nov, 2024 10:06pm

Commodities

Copper firms to three-week high on weaker dollar before election results

LONDON: Copper prices rose on Tuesday to a 22-day high on a softer dollar as traders balanced their positions ahead...

Published 05 Nov, 2024 06:39pm

Commodities

Iran oil prices to China at multi-year high after exports fall

SINGAPORE: Discounts on Iranian crude oil sold to China are at their tightest in around five years as lower exports...

Published 05 Nov, 2024 04:45pm

Stocks

Financials lead rebound in Indian shares ahead of US election

Indian shares reversed losses to end higher on Tuesday as investors sought safety in heavyweight financials that are...

Published 05 Nov, 2024 04:35pm

Commodities

Palm ends lower on profit taking ahead of a major conference

JAKARTA: Malaysian palm oil futures closed lower on Tuesday after four consecutive sessions of gains, dragged down...

Published 05 Nov, 2024 04:32pm

UK new car sales fall 6% in October, industry data shows

New car registrations in the UK fell for the second time this year, dropping 6% to 144,288 in October, industry data...

Published 05 Nov, 2024 03:45pm

Federal cabinet approves Hajj Policy 2025, Pakistan’s quota to be 179,210

Under the policy, children below the age of 12 will be barred from traveling for Hajj

Updated 05 Nov, 2024 10:51pm

Commodities

Gold price per tola decreases Rs500 in Pakistan

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

Updated 05 Nov, 2024 09:12pm

Forex

Ugandan shilling weaker as energy, manufacturing FX demand surges

KAMPALA: The Ugandan shilling weakened on Tuesday, undercut by a surge in demand for foreign currency from the...

Published 05 Nov, 2024 02:53pm

Energy

Russian oil and gas revenue jumps 57% m/m in October

MOSCOW: Proceeds from oil and gas sales for Russia’s federal budget in October jumped about 57% from September to...

Published 05 Nov, 2024 02:50pm

Forex

South African rand stable as markets gear up for US vote

JOHANNESBURG: South Africa’s rand was little changed in early trade on Tuesday as the world’s biggest economy headed...

Published 05 Nov, 2024 02:43pm

Forex

Russian rouble slides to near one-year low to China’s yuan

MOSCOW: The rouble slid to a near one-year low against China’s yuan on Tuesday under pressure from reduced foreign...

Published 05 Nov, 2024 02:38pm

Mutual Funds

JGB yields edge lower as markets await outcome of US election

TOKYO: Japanese government bond yield edged down on Tuesday, tracking US Treasury yields lower in the previous...

Published 05 Nov, 2024 02:38pm

Forex

Kenyan shilling stable on FX surplus from month-end payments

NAIROBI: The Kenyan shilling was stable against the dollar on Tuesday, boosted by a surplus of dollars left over...

Published 05 Nov, 2024 02:37pm

Commodities

Bangladesh issues another tender to buy 50,000 T rice

HAMBURG: Bangladesh’s state grains buyer has issued an international tender to purchase 50,000 metric tons of rice,...

Published 05 Nov, 2024 02:36pm

Mutual Funds

Euro zone yields inch up, US election keeps traders in check

LONDON: Euro zone bond yields edged up on Tuesday, kept in check by the US election which could drive significant...

Published 05 Nov, 2024 02:34pm

Stocks

European shares slip at open with US elections in the spotlight

Europe’s STOXX 600 edged lower in early trading on Tuesday as some downbeat earnings, including from Danish firm...

Published 05 Nov, 2024 02:33pm

Energy

QatarEnergy offers some 2025 term gas-to-liquid diesel cargoes for sale, sources say

SINGAPORE: QatarEnergy has kickstarted some term negotiations for gas-to-liquid diesel cargoes loading next year via...

Published 05 Nov, 2024 02:32pm

Stocks

Major Gulf markets mixed ahead of US election

Major stock markets in the Gulf were mixed in early trade on Tuesday as investors took a cautious approach ahead of...

Published 05 Nov, 2024 01:55pm

Energy

Saudi Aramco says quarterly profit drops 15% on low oil prices

RIYADH: Energy giant Saudi Aramco reported a 15 percent year-on-year drop in third quarter profit on Tuesday, citing...

Published 05 Nov, 2024 01:37pm

Nintendo lowers sales forecast as first-half profits plunge

TOKYO: Nintendo downgraded its annual sales forecast on Tuesday as net profit plunged 60 percent year-on-year in the...

Published 05 Nov, 2024 01:33pm

Stocks

KSE-100 closes above 92,000 for first time as buying momentum persists

Buying momentum continued at the Pakistan Stock Exchange (PSX) on Tuesday with the benchmark KSE-100 Index gaining...

Updated 05 Nov, 2024 10:10pm

Stocks

South Korea stocks slip as investors turn cautious ahead of US election

KOSPI was down 15.11 points, or 0.58%, at 2,573.86

Published 05 Nov, 2024 12:55pm

Pakistan’s Neem secures $4mn credit facility from DNI Group

Neem, an embedded finance platform in Pakistan, has secured an additional $4 million credit facility from South...

Updated 05 Nov, 2024 10:35pm

Commodities

Copper drifts up with all eyes on US election, China meeting

Copper prices edged higher on Tuesday, while traders awaited more stimulus cues from top consumer China as well as...

Published 05 Nov, 2024 12:30pm

Stocks

Japan’s Nikkei rebounds from sharp losses, stocks with robust outlooks shine

TOKYO: Japan’s Nikkei share average rose on Tuesday, rebounding from a sharp decline on Friday – its most recent...

Published 05 Nov, 2024 12:27pm

Australia’s central bank keeps cash rate at 4.35%, as expected

SYDNEY: Australia’s central bank held interest rates steady on Tuesday as expected, reiterating policy would need to...

Published 05 Nov, 2024 12:11pm

Energy

Saudi non-oil business activity lifted by faster new order growth in October, PMI shows

The pace of growth in Saudi Arabia’s non-oil sector continued to accelerate in October, lifted by the fastest growth...

Published 05 Nov, 2024 11:47am

Forex

China’s yuan slips from 3-week high on US election uncertainty

SHANGHAI: China’s yuan slipped on Tuesday, retreating from a three-week high against the dollar hit a day earlier,...

Published 05 Nov, 2024 11:45am

Stocks

China, Hong Kong stocks rise on signs of economic improvement; US election on tap

SHANGHAI: Mainland China and Hong Kong stocks climbed nearly 2% on Tuesday, underpinned by signs of local economic...

Published 05 Nov, 2024 11:42am

Energy

Egypt’s non-oil business activity contracts further in October, PMI shows

CAIRO: Activity in Egypt’s non-oil private sector continued to decline in October as strong cost pressures dampened...

Published 05 Nov, 2024 11:29am

Energy

Bangladesh’s RPGCL seeks 3 LNG cargoes for Dec delivery, document shows

SINGAPORE: Bangladesh’s Rupantarita Prakritik Gas Co Ltd (RPGCL) is seeking three liquefied natural gas (LNG)...

Published 05 Nov, 2024 11:24am

Stocks

Farrukh Sabzwari appointed Pakistan Stock Exchange (PSX) CEO

Farrukh H. Sabzwari has been appointed Chief Executive Officer (CEO) of the Pakistan Stock Exchange Company Limited...

Updated 05 Nov, 2024 10:36pm

Exchange

Rupee registers marginal fall against US dollar

Currency settles at 277.84 against greenback in inter-bank market

Updated 05 Nov, 2024 09:52pm

Bullion Rate

Gold flat ahead of US election and Fed meeting

Gold was little changed on Tuesday as investors refrained from taking big bets ahead of the US presidential...

Published 05 Nov, 2024 10:19am

Commodities

Wheat inches higher as US crop gets off to poor start

CANBERRA: Chicago wheat futures inched higher on Tuesday after data showed that the US winter wheat crop was off to...

Published 05 Nov, 2024 10:15am

Commodities

Palm falls on Dalian soyoil weakness, stronger ringgit

JAKARTA: Malaysian palm oil futures opened lower on Tuesday after four consecutive sessions of gains, weighed down...

Published 05 Nov, 2024 10:13am

Forex

Australian dollar unmoved as RBA stands pat, RBNZ sounds gloomy

SYDNEY: The Australian dollar barely blinked on Tuesday after the country’s central bank held interest rates steady...

Published 05 Nov, 2024 10:10am

Stocks

Financials drag Australia shares lower; RBA rate decision looms

Australia shares declined on Tuesday, led by losses in heavyweight financials, as investors treaded cautiously ahead...

Published 05 Nov, 2024 10:07am

Philippine annual inflation quickens to 2.3% in October

MANILA: The Philippine central bank said on Tuesday it will take a “measured approach” in its policy easing cycle as...

Published 05 Nov, 2024 10:02am

Energy

Thailand’s PTT seeks LNG cargo for Dec delivery

SINGAPORE: Thailand’s PTT is seeking a liquefied natural gas (LNG) cargo for delivery in December, two industry...

Published 05 Nov, 2024 10:00am

Mutual Funds

India bond yields seen flat with focus on US elections

MUMBAI: Indian government bond yields are expected to be largely unchanged on Tuesday, in line with their US peers...

Published 05 Nov, 2024 09:58am

Stocks

Indian shares set to open higher amid US election uncertainty

Indian shares are set to open higher on Tuesday, after their worst session in a month a day earlier, while traders...

Published 05 Nov, 2024 09:56am

Stocks

Stocks, dollar on tenterhooks with all eyes on US Election Day

SINGAPORE: Stock markets moved sideways and an uneasy calm settled over currencies and bonds as investors waited for...

Published 05 Nov, 2024 09:54am

Forex

Dollar droops on election day after ‘Trump trade’ unwind

TOKYO: The dollar started Tuesday on the defensive as traders squared positions on the day of the US presidential...

Published 05 Nov, 2024 09:37am

Energy

Oil trades in tight range ahead of US election result

LONDON: Oil prices traded in a narrow range on Tuesday ahead of what is expected to be an exceptionally close U.S....

Updated 05 Nov, 2024 06:35pm

Mujtaba heaps praise on federal, Punjab govts for improvement in economy

LAHORE: Provincial Finance Minister Mujtaba Shuja-ur-Rehman Monday said that inspiring economic progress has been...