News Archives for Business & Finance - 2024-11-07

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Business & Finance - 2024-11-07

Stocks

Wall Street extends rally from Trump victory, Fed decision on tap

Wall Street’s main indexes held on to their gains on Thursday in the run-up to the Federal Reserve’s interest-rate...

Published 07 Nov, 2024 08:30pm

Forex

SBP-held foreign exchange reserves increase $18mn, now stand at $11.17bn

Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $18 million on a weekly basis,...

Updated 07 Nov, 2024 09:48pm

USA

Fed to cut rates, but with a new landscape to decipher after Trump win

WASHINGTON: The U.S. Federal Reserve is expected to reduce its benchmark policy rate by a quarter of a percentage...

Updated 07 Nov, 2024 08:02pm

Money & Banking

Bank of England cuts interest rate as inflation slows

LONDON: The Bank of England on Thursday said it was cutting its key interest further after UK inflation hit a...

Published 07 Nov, 2024 05:40pm

Companies

Ghani Chemical Industries launches ‘Pakistan’s largest ASU plant’ in Khyber Pakhtunkhwa

Ghani Chemical Industries Limited (GCIL) on Thursday said it successfully commissioned “Pakistan’s largest Air...

Updated 07 Nov, 2024 06:52pm

Stocks

Indian shares give up Trump-fueled gains as profit-booking, earnings weigh

Indian shares slid over 1% on Thursday, erasing all their gains from the previous day when Donald Trump was elected...

Published 07 Nov, 2024 04:28pm

Stocks

Sri Lankan shares snap three-day losing streak

Sri Lankan shares closed higher on Thursday, aided by gains in materials and industrial stocks. The CSE All-Share...

Published 07 Nov, 2024 04:26pm

Commodities

Copper bounces as investors reassess Trump and look to China stimulus

LONDON: Copper prices rebounded on Thursday as investors took another look at the impact of Donald Trump’s U.S....

Published 07 Nov, 2024 04:24pm

Commodities

Palm oil ends up supported by rival oils at Dalian

JAKARTA: Malaysian palm oil futures closed higher and reversed early losses on Thursday, supported by gains from...

Published 07 Nov, 2024 04:22pm

Commodities

Gold price per tola decreases Rs5,400 in Pakistan as international market reacts to Trump’s victory

The impact of the recent decline in the international gold price was also felt in Pakistan, with the price of a tola...

Updated 07 Nov, 2024 10:28pm

Nissan announces 9,000 job cuts, slashes sales forecast

TOKYO: Japanese automaker Nissan on Thursday announced 9,000 job cuts as it slashed its annual sales forecast,...

Published 07 Nov, 2024 02:29pm

Nippon Steel says expects to close US Steel takeover by end of 2024

TOKYO: Japan’s Nippon Steel said on Thursday that it still expects to close its takeover of US Steel this year,...

Published 07 Nov, 2024 02:26pm

MENA

Robust demand: Emirates logs $2.5bn half-year profit

DUBAI: Dubai’s Emirates Group announced half-year profits of $2.5 billion on Thursday, citing robust demand despite...

Updated 07 Nov, 2024 05:36pm

Stocks

South Korean shares fall as battery makers extend losses on Trump’s win

KOSPI was down 3.39 points, or 0.13%, at 2,560.12

Published 07 Nov, 2024 12:42pm

Commodities

Palm oil rises on strength of rival oils, weaker ringgit

JAKARTA: Malaysian palm oil futures opened higher on Thursday, supported by gains in rival vegetable oils in the...

Published 07 Nov, 2024 12:34pm

Forex

Australia, NZ dollars bounce after sharp sell-off as investors eye China stimulus

SYDNEY: The Australian and New Zealand dollars rebounded on Thursday after a sharp sell-off as investors await...

Published 07 Nov, 2024 12:26pm

Commodities

China’s October coal imports rise 29% year-on-year

BEIJING: China’s coal imports rose 29% in October from a year earlier, customs data showed on Thursday, putting...

Published 07 Nov, 2024 12:21pm

Forex

Indian rupee drops to all-time low on bullish dollar outlook

MUMBAI: The Indian rupee declined to a lifetime low on Thursday in the wake of expectations that Donald Trump’s...

Published 07 Nov, 2024 12:19pm

Stocks

KSE-100 gains nearly 500 points to close at fresh record high

Investors brush off uncertainty over Republican candidate Donald Trump’s ascent to White House

Updated 07 Nov, 2024 11:00pm

Commodities

China’s October iron ore imports stay elevated on improved steel margins

BEIJING: China’s iron ore imports in October climbed by 4.48% from the prior year, official data showed on Thursday,...

Published 07 Nov, 2024 11:56am

Commodities

London copper rises on China stimulus hope, rebounds from knee-jerk slump

Copper prices rose in London on Thursday on hopes of further China stimulus and as prices rebounded from Wednesday’s...

Published 07 Nov, 2024 11:52am

Commodities

Corn holds steady after Trump win pushes prices higher

CANBERRA: Chicago corn futures held their gains on Thursday, after rising nearly 2% in the previous session on the...

Published 07 Nov, 2024 11:47am

USA

What Trump’s 2024 election win means for Asian companies

Donald Trump has been elected US president, capping a remarkable comeback four years after he was voted out of the...

Published 07 Nov, 2024 11:45am

Trump’s win emboldens dollar bulls as they brace for tariffs

NEW YORK: Donald Trump’s imminent return to the White House is putting a spotlight on the US dollar, which could...

Published 07 Nov, 2024 11:22am

Mutual Funds

Japan’s 10-year bond yield crosses 1% for 1st time in over 3 months

TOKYO: Japan’s 10-year government bond yield crossed 1% for the first time in more than three months on Thursday,...

Published 07 Nov, 2024 11:14am

Daimler Truck core profit just beats expectations but Europe still weak

Third-quarter core profit at Germany’s Daimler Truck just beat expectations, the firm said on Thursday, driven by a...

Published 07 Nov, 2024 11:13am

Forex

China’s yuan falls to near 3-month low on weaker fixing, tariff worries

SHANGHAI: China’s yuan fell to a near three-month low against the dollar on Thursday, dragged lower by a much...

Published 07 Nov, 2024 11:03am

Stocks

MSCI adds 8 Pakistani companies to Small Cap, removes TRG Pakistan from Frontier Markets Indexes

Morgan Stanley Capital International (MSCI) Inc., a leading provider of critical decision support tools and...

Updated 07 Nov, 2024 09:49pm

Stocks

China stocks fall again at open as investors brace for Trump presidency

SHANGHAI: China and Hong Kong stocks started lower on Thursday as investors priced in heightened tensions around...

Published 07 Nov, 2024 11:02am

Energy

China’s crude oil imports fall for sixth straight month on refinery closure

BEIJING: China’s crude oil imports fell 9% in October, data showed on Thursday, a sixth consecutive monthly...

Published 07 Nov, 2024 11:00am

Stocks

Asian stocks mixed as Trump impact weighed; dollar firm before Fed decision

TOKYO: Asia-Pacific equity markets were mixed on Thursday as investors weighed the implications of a Donald Trump...

Published 07 Nov, 2024 10:37am

Mutual Funds

Yields hold near multi-month highs after Trump victory

SINGAPORE: US Treasuries struggled to make headway on Thursday, as traders reflected on Donald Trump’s victory in...

Published 07 Nov, 2024 10:33am

Commodities

China Jan-Oct soybean imports up 11.2% from year ago

BEIJING: China imported 89.94 million metric tons of soybeans during the first ten months of 2024, surging 11.2%...

Published 07 Nov, 2024 10:30am

Stocks

Japan’s Nikkei reverses course to trade lower on profit-booking

TOKYO: Japan’s Nikkei share average reversed course to trade lower on Thursday, as investors booked profits from...

Published 07 Nov, 2024 10:28am

Bullion Rate

Gold struggles for momentum as dollar firms; eyes on Fed

Gold prices struggled for momentum on Thursday, as dollar firmed after Donald Trump’s election victory, while...

Published 07 Nov, 2024 10:24am

Stocks

Australian shares struggle for direction as gold stocks drag; NAB tumbles

Australian shares traded flat on Thursday as investors digested Donald Trump’s victory in the US presidential...

Published 07 Nov, 2024 10:22am

Mutual Funds

Indian bond yields seen little changed ahead of Fed policy decision

MUMBAI: Indian government bond yields are expected to trend largely unchanged in opening deals on Thursday, as US...

Published 07 Nov, 2024 10:17am

Exchange

Rupee slips lower against US dollar

Currency settles at 277.95 against the greenback in inter-bank market

Updated 07 Nov, 2024 10:21pm

Stocks

Indian shares slide as Hindalco weighs on metal stocks

Indian shares fell in morning trading on Thursday, in contrast to their Asian peers, as Hindalco Industries led a...

Published 07 Nov, 2024 10:15am

Forex

Dollar steady, peers under pressure ahead of BOE, Fed

TOKYO: The dollar hung just off a four-month high on Thursday as the market continued to digest Republican Donald...

Published 07 Nov, 2024 10:10am

Energy

Oil slips as investors digest US election fallout

LONDON: Oil slipped on Thursday, extending a sell-off triggered by the U.S. presidential election, as a strong...

Updated 07 Nov, 2024 07:06pm

Companies

Interloop hosts Partners in Success Awards

LAHORE: Interloop Limited hosted the prestigious Partners in Success Awards 2024 on October 30, 2024, at a local...

Published 07 Nov, 2024 08:01am

10,000 EV charging stations to be set up by 2030

ISLAMABAD: Federal Minister for Industries and Production, Rana Tanveer Hussain announced the government’s...

Published 07 Nov, 2024 07:39am

Companies

Riba-free banking services: BankIslami launches significant initiative

KARACHI: BankIslami, a leading Islamic financial institution in Pakistan, has launched a significant initiative to...

Published 07 Nov, 2024 07:33am

Visit of AD Ports team: Dar receives presentation on proposed MoUs

ISLAMABAD: Deputy Prime Minister/Foreign Minister Senator Mohammad Ishaq Dar chaired a high-level inter-ministerial...

Published 07 Nov, 2024 07:03am

Economic growth: Experts recommend measures to policymakers

ISLAMABAD: Amid sluggish growth and increasing poverty ratio in the country, experts on Wednesday recommended ...

Published 07 Nov, 2024 06:40am

Taxes

RTO-II team ‘held hostage’ by marriage hall staff

KARACHI: A team of the Federal Board of Revenue (FBR) officials from RTO-II, Zone V were taken hostage at a marriage...

Published 07 Nov, 2024 06:16am

Trade war would weigh on Europe’s already weak outlook, ECB warns

LONDON: Euro zone growth may be weaker than earlier thought and fresh barriers to global trade could lead to a...

Published 07 Nov, 2024 06:16am

Discos’ FCAs for Sept: Nepra approves Rs1.27 per unit negative adjustment

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has approved negative adjustment of Rs1.27 per...

Updated 07 Nov, 2024 08:44am

PM announces 100MW power supply for G-B

GILGIT: Prime Minister Shehbaz Sharif on Wednesday announced the immediate power supply of 100 megawatts for Gilgit...

Published 07 Nov, 2024 06:16am

KATI seeks swift steps to alleviate rising production costs

KARACHI: The President of the Korangi Association of Trade and Industry (KATI), Junaid Naqi has urged the government...

Published 07 Nov, 2024 06:16am

Speakers for firm action to deal with economic, environmental challenges

KARACHI: The 8th edition of ‘The Future Summit’ commenced with a packed hall at a hotel here in Karachi. Farrukh...

Updated 07 Nov, 2024 10:45am

Petrochemical, chemical plants: criticality of CCPPs highlighted

KARACHI: The Overseas Investors Chamber of Commerce and Industry (OICCI) has recommended the Government to continue...

Published 07 Nov, 2024 06:16am

FPCCI seeks ‘winter package’ for trade & industry

KARACHI: Atif Ikram Sheikh, President FPCCI, has urged the government to announce a comprehensive, effective and...

Published 07 Nov, 2024 06:16am

KfW Bank team visits NTDC, 220kV GIS Ghazi Road Substation

LAHORE: A mission from KfW Development Bank Germany discussed multiple projects with National Transmission &...

Published 07 Nov, 2024 06:16am

Punjab CM announces special reward package for wheat farmers

LAHORE: In a historic move aimed at boosting wheat cultivation in the province, Chief Minister of Punjab Maryam ...

Published 07 Nov, 2024 06:16am

PMEX daily trading report

KARACHI: On Tuesday at PMEX, the traded value of Metals, Energy, COTS and indices was recorded at PKR 32.674 billion...

Published 07 Nov, 2024 06:16am

Prices unchanged on cotton market

LAHORE: The local cotton market on Wednesday remained steady and the trading volume remained low. Cotton Analyst...

Published 07 Nov, 2024 06:16am

Nestlé unveils $50m packaged food exports vision

ISLAMABAD: Nestlé reaffirmed its commitment to government’s vision for Pakistan’s economic growth by unveiling...

Published 07 Nov, 2024 06:16am

Industry

Industries, CNG sector: Traders oppose suspension of gas supply

PESHAWAR: Business community strongly opposed the proposal to suspend gas supply to CNG filling stations and...

Published 07 Nov, 2024 06:16am

Industry

Govt urged to announce ‘winter package’ for industries

LAHORE: SM Tanveer, Patron-in-Chief, United Business Group (FPCCI-UBG) has appealed to the government to announce a...

Published 07 Nov, 2024 06:16am

Industry

LCCI holds seminar on women’s empowerment

LAHORE: The Lahore Chamber of Commerce and Industry organized a seminar on women empowerment to underscore the vital...

Published 07 Nov, 2024 06:16am

Money & Banking

Dollar soars, euro tumbles as Trump wins US presidential election

NEW YORK: The dollar soared on Wednesday and was set for its biggest one-day rise since March 2020 after Republican...

Published 07 Nov, 2024 06:16am

Money & Banking

Asian currencies tumble

SHANGHAI: Singapore’s dollar and Thailand’s baht fell the most among Asian currencies on Wednesday, while the...

Published 07 Nov, 2024 06:16am

Industry

Green financing, climate resilience: OICCI holds dialogue to foster private sector-led solutions

ISLAMABAD: As Pakistan confronts the pressing challenges of climate change, the Overseas Investors Chamber of...

Published 07 Nov, 2024 06:16am

Industry

Ahsan asks authorities to expedite work on IT Park Islamabad project

ISLAMABAD: Minister for Planning Ahsan Iqbal directed the concerned authority to expedite IT Park Islamabad project,...

Updated 07 Nov, 2024 07:40am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Jan 6	278.68
USD PKR Interbank Buying / Jan 6	278.48
USD to Japanese Yen / Jan 6	157.66
USD to Swiss Franc / Jan 6	0.91
Pound Sterling to USD / Jan 6	1.25
Euro to USD / Jan 6	1.03

Stock	Volume
S&P 500 / Jan 3	5,942.47
Nasdaq / Jan 3	19,621.68
Dow Jones / Jan 3	42,732.13
India Sensex / Jan 6	78,130.84
Tokyo Nikkei / Jan 6	39,307.05
Hang Seng / Jan 6	19,688.29
FTSE 100 / Jan 6	8,215.60
Germany DAX 30 / Jan 6	19,991.90

Item	Value
Crude Oil USD/Barrel / Jan 6	73.66
Karachi Cotton PKR/37.32 KG / Jan 6	18,285
Gold 10 Grams PKR / Jan 6	235,768
Gold Spot USD/Ounce / Jan 6	2,627.79
Cotton US¢/pound / Jan 6	67.88
Petrol/Litre / Jan 7	252.66

Gainers
Losers
Leaders

Stock	Price
Goodluck Ind. / Jan 6 Good Luck Industries Ltd.(GIL)	1,283.35 ▲ 85.86 (7.17%)
Pak Elektron (Pref) / Jan 6 Pak Elektron Limited (Preference)(PELPS)	12.44 ▲ 0.34 (2.81%)
786 Invest Ltd / Jan 6 786 Investments Limited(786)	8.64 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Jan 6 Al-Abbas Sugar Mills Limited(AABS)	739.99 ▼ 0.00 (0.00%)
Agro Allianz / Jan 6 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Jan 6 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Jan 6 Ali Asghar Textile Mills Limited(AATM)	86.99 ▼ 0.00 (0.00%)
Allied Bank / Jan 6 Allied Bank Limited(ABL)	137.75 ▼ 0.00 (0.00%)
Abbott Lab. / Jan 6 Abbott Laboratories (Pakistan) Limited(ABOT)	1,282.05 ▼ 0.00 (0.00%)

Stock	Price
Javedan Corp.(Pref) / Jan 6 Javedan Corp.(Pref)(JVDCPS)	19 ▼ -1.00 (-5.00%)
Dawood Lawrencepur / Jan 6 Dawood Lawrencepur Limited(DLL)	250.10 ▼ -4.84 (-1.90%)
786 Invest Ltd / Jan 6 786 Investments Limited(786)	8.64 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Jan 6 Al-Abbas Sugar Mills Limited(AABS)	739.99 ▲ 0.00 (0.00%)
Agro Allianz / Jan 6 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Jan 6 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Jan 6 Ali Asghar Textile Mills Limited(AATM)	86.99 ▲ 0.00 (0.00%)
Allied Bank / Jan 6 Allied Bank Limited(ABL)	137.75 ▲ 0.00 (0.00%)
Abbott Lab. / Jan 6 Abbott Laboratories (Pakistan) Limited(ABOT)	1,282.05 ▲ 0.00 (0.00%)

Stock	Volume
WorldCall Telecom / Jan 6 Worldcall Telecom Limited(WTL)	73,230,816 ▲ 0.00
Cnergyico PK / Jan 6 Cnergyico PK Limited(CNERGY)	57,326,691 ▲ 0.00
Fauji Cement / Jan 6 Fauji Cement Company Limited(FCCL)	54,376,196 ▲ 0.00
Fauji Foods Ltd / Jan 6 Fauji Foods Limited(FFL)	48,486,153 ▲ 0.00
Pace (Pak) Ltd. / Jan 6 Pace (Pakistan) Limited(PACE)	47,351,133 ▲ 0.00
K-Electric Ltd. / Jan 6 K-Electric Limited(KEL)	47,018,900 ▲ 0.00
Bank Makramah / Jan 6 Bank Makramah Limited(BML)	34,268,257 ▲ 0.00
Pak Elektron / Jan 6 Pak Elektron Limited(PAEL)	32,625,743 ▲ 0.00
B.O.Punjab / Jan 6 The Bank of Punjab(BOP)	26,761,290 ▲ 0.00

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