News Archives for Business & Finance - 2024-11-06

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Business & Finance - 2024-11-06

Money & Banking

Federal Reserve seen on shallower rate-cut path after Trump’s election

Donald Trump’s election as U.S. president is fueling financial market bets that the Federal Reserve will deliver...

Published 06 Nov, 2024 08:40pm

Stocks

Most Gulf markets gain on Trump’s presidential win

Most stock markets in the Gulf ended higher on Wednesday as a win by Republican Donald Trump in the U.S....

Published 06 Nov, 2024 07:17pm

Stocks

S&P 500, Dow set for record open as Trump wins U.S. presidency

The S&P 500 and the Dow were set to open at a record high on Wednesday, as Republican Donald Trump won the 2024...

Published 06 Nov, 2024 07:14pm

Electric Vehicle policy to be announced by end of November: Tanveer

Minister for Industries and Production Rana Tanveer Hussain said on Wednesday that the Electric Vehicle (EV) Policy...

Updated 06 Nov, 2024 07:10pm

Stocks

Indian shares post best session in over 6 weeks on likely Trump presidential win

Indian shares advanced on Wednesday, posting their biggest single-day jump in over six weeks, after Donald Trump...

Published 06 Nov, 2024 04:52pm

Stocks

Sri Lankan shares drop for third straight session

Sri Lankan shares closed lower for a third consecutive session on Wednesday, weighed down by losses in industrial...

Published 06 Nov, 2024 04:50pm

Commodities

Copper tumbles as Trump victory sparks fear over slowdown in energy transition

LONDON: Copper prices tumbled on Wednesday as victory for Republican Donald Trump in the U.S. presidential election...

Published 06 Nov, 2024 04:47pm

Commodities

Palm oil ends higher on rival oils strength, weaker ringgit

JAKARTA: Malaysian palm oil futures closed up on Wednesday, supported by gains in rival vegetable oils and a weaker...

Published 06 Nov, 2024 04:45pm

Commodities

Gold price per tola decreases Rs1,000 in Pakistan

Gold prices in Pakistan decreased further on Wednesday in line with their decrease in international rates. In the...

Published 06 Nov, 2024 03:46pm

Money & Banking

Silkbank’s board grants in-principle approval for UBL merger

The Board of Directors (BoD) of Silkbank Limited have granted their in-principle approval for a potential merger...

Published 06 Nov, 2024 02:45pm

Business & Economy

Aurangzeb targets Pakistan’s credit rating improvement amid positive indicators

ECC will regularly monitor the prices of pulses and chicken, says Aurangzeb

Updated 06 Nov, 2024 06:56pm

Forex

Russian rouble dips to 100 to dollar as Trump declares election win

MOSCOW: The Russian rouble briefly weakened to 100 against the dollar on Wednesday as Donald Trump claimed victory...

Published 06 Nov, 2024 01:33pm

Stocks

European stocks jump as Trump claims victory

LONDON: Europe’s main stock markets rallied at the start of trading on Wednesday as Donald Trump claimed victory in...

Published 06 Nov, 2024 01:21pm

Forex

Kenyan shilling steady on tourism, tea sector FX inflows

NAIROBI: The Kenyan shilling was steady against the dollar on Wednesday, boosted foreign exchange inflows from the...

Published 06 Nov, 2024 12:42pm

Stocks

Lulu Retail Holdings raises $1.72bn in UAE’s largest IPO this year

DUBAI: Lulu Retail Holdings, which runs one of the Middle East’s biggest hypermarket chains, said on Wednesday it...

Published 06 Nov, 2024 12:40pm

Forex

South African rand drops sharply as markets tilt towards Trump win

JOHANNESBURG: The South African rand dropped sharply against a surging dollar in early trade on Wednesday, as...

Published 06 Nov, 2024 12:34pm

Stocks

KSE-100 closes in the red as Trump’s victory in US election weighs

Donald Trump’s victory in the US election threw market participants into a selling frenzy as profit-taking in the...

Updated 06 Nov, 2024 09:13pm

Commodities

Wheat, corn and soy fall as market anticipates Trump win

CANBERRA: Chicago wheat, corn and soybean futures fell sharply on Wednesday as early results from the US...

Published 06 Nov, 2024 10:48am

Exchange

Rupee declines marginally against US dollar

Currency settles at 277.89 against the greenback in inter-bank market

Updated 06 Nov, 2024 06:52pm

Indonesia central bank says ready to stabilise rupiah if needed

JAKARTA: Indonesia’s central bank is ready to stabilise the rupiah, including through intervention if there was...

Published 06 Nov, 2024 09:26am

Forex

Australia, NZ dollars tumble as markets lean into Trump bets on election

SYDNEY: The Australian and New Zealand currencies tumbled on Wednesday as the dollar leapt with investors leaning...

Published 06 Nov, 2024 09:17am

Honda posts 15% fall in Q2 operating profit, missing forecasts

TOKYO: Japan’s Honda Motor reported a 15% decline in second-quarter operating profit at 257.9 billion yen ($1.68...

Published 06 Nov, 2024 09:14am

Stocks

Dollar soars, bitcoin hits record and stocks rally as Trump win seen

HONG KONG: The dollar surged and bitcoin hit a record high Wednesday while equity markets advanced as traders bet on...

Published 06 Nov, 2024 09:01am

Forex

Bitcoin hits new record high of more than $75,000

TOKYO: Bitcoin soared to a new record high on Wednesday as traders bet on victory for Donald Trump in the US...

Published 06 Nov, 2024 08:57am

Stocks

Australian shares rise on commodity, tech boost; investors await US election verdict

Australian shares rose on Wednesday, tracking their peers on Wall Street, with the technology and commodity sectors...

Published 06 Nov, 2024 08:53am

Stocks

HK stocks down, China’s yuan slips as US election counting progresses

HONG KONG: China’s yuan weakened in early Asian trades on Wednesday and Hong Kong stocks fell as opinion polls and...

Published 06 Nov, 2024 08:51am

Commodities

Vietnam’s Jan-Oct coffee exports down 11.2% y/y, stats office says

HANOI: Vietnam exported 1.15 million metric tons of coffee in the first 10 months of this year, down 11.2% from the...

Published 06 Nov, 2024 08:49am

Forex

Indian rupee slips in NDF market amid US election updates

MUMBAI: The Indian rupee declined in the non-deliverable forward market, bogged down by a jump in the dollar index...

Published 06 Nov, 2024 08:37am

Stocks

Indian shares set to open flat as US election results trickle in

Indian shares are set to open flat on Wednesday, with caution likely to prevail as US presidential election results...

Published 06 Nov, 2024 08:32am

Stocks

Japan’s Nikkei rises as markets await US election outcome

TOKYO: Japan’s Nikkei share average tracked Wall Street’s strong finish on Wednesday as market participants awaited...

Published 06 Nov, 2024 08:29am

Mutual Funds

India bond yields to tail US peers higher amid US election outcome

MUMBAI: Indian government bond yields are expected to trend higher in opening deals on Wednesday as US Treasury...

Published 06 Nov, 2024 08:27am

Energy

Saudi Arabia cuts December light crude prices for Asia

Top oil exporter Saudi Arabia has cut the price for the flagship Arab light crude it sells to Asia in December by 50...

Published 06 Nov, 2024 08:15am

Euro, Panda bonds: Issuance depends on improved credit ratings: Aurangzeb

KARACHI: Federal Minister for Finance and Revenue, Muhammad Aurangzeb has said that the issuance of Euro Bonds and...

Published 06 Nov, 2024 08:13am

Bullion Rate

Gold holds steady as market awaits US election outcome

Gold held steady on Wednesday as investors keenly awaited the outcome of a tightly contested US presidential race....

Published 06 Nov, 2024 08:12am

Commodities

Palm oil rises mirroring Dalian and Chicago soyoil prices

JAKARTA: Malaysian palm oil futures inched higher on Wednesday, supported by an uptick in soyoil prices in the...

Published 06 Nov, 2024 08:08am

Industry

Over 130 global cos to participate in ‘Pakistan Industrial Expo’

LAHORE: The eighth edition of the Pakistan Industrial Expo starting from November 09, 2024, is poised to make a...

Published 06 Nov, 2024 08:02am

Companies

eTurbo announces rise in domestic production

KARACHI: The eTurbo, a Pakistani ebikes startup, announced Tuesday it would increase domestic production from ...

Published 06 Nov, 2024 08:01am

Money & Banking

Asian currencies muted as US election looms

BENGALURU: Philippine stocks rallied on Tuesday after the country’s quickening inflation signalled a sustained...

Published 06 Nov, 2024 07:57am

Money & Banking

Yuan slips from 3-week high

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

Published 06 Nov, 2024 07:53am

Forex

Dollar climbs as Trump makes early gains in exit polls; Bitcoin rises

TOKYO: The dollar rallied broadly on Wednesday as early exit polls in the extremely close US presidential election...

Published 06 Nov, 2024 07:45am

Energy

Oil falls as Trump victory pushes dollar higher

Oil prices fell about 3% on Wednesday as the U.S. dollar was set for its biggest one-day rise since March 2020 on...

Updated 06 Nov, 2024 08:49pm

M-9 Motorway: minister directs immediate allocation of funds

ISLAMABAD: Federal Minister for Planning Ahsan Iqbal directed the immediate release of allocated funds for M-8...

Published 06 Nov, 2024 06:24am

Pakistan becomes member of IALA global maritime authority

KARACHI: Pakistan has become a member of the International Association of Lighthouse Authorities (IALA) as a private...

Published 06 Nov, 2024 06:12am

‘More policy rate cut needed to boost economic activity’

KARACHI: President of the Hub Chamber of Commerce and Industry, Yakoob H Karim welcomed the 250 basis points...

Published 06 Nov, 2024 06:10am

Need stressed for promoting regional connectivity

ISLAMABAD: Speakers on Tuesday stressed the need to translate Pakistan’s regional connectivity and infrastructure...

Published 06 Nov, 2024 06:08am

Over 3,600 mineral reserves geo-tagged

LAHORE: The Punjab Information Technology Board (PITB), in collaboration with the Punjab Mines and Minerals...

Published 06 Nov, 2024 06:06am

NPMC reviews price stabilisation strategies

ISLAMABAD: In the month of October 2024, non-perishable food items experienced a controlled rise of 1.01 per cent as...

Updated 06 Nov, 2024 09:07am

Trade, investment and P2P contacts: Islamabad, Tehran concur on exploring avenues

ISLAMABAD: Pakistan and Iran have emphasised the need to strengthen bilateral relations through increased trade,...