News Archives for Business & Finance - 2024-11-08

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Business & Finance - 2024-11-08

Companies

Hakeem wins emerging fintech products excellence award at Singapore FinTech Festival 2024

SINGAPORE: Walee Financial Services announced that its groundbreaking fintech product, Hakeem, has won the...

Published 08 Nov, 2024 06:17pm

South Asia

Ambani’s Reliance lobbies for India satellite spectrum auction in new clash with Musk’s Starlink

BENGALURU: Mukesh Ambani’s Reliance pressed India’s telecom watchdog on Friday to reconsider its plan not to auction...

Published 08 Nov, 2024 05:22pm

Business & Economy

Abu Dhabi Ports, Pakistan sign 4 MoUs

PM witnesses signing related to Ministries of Maritime Affairs, Aviation, Railways and Federal Board of Revenue with Abu Dhabi (AD) Ports Group

Updated 08 Nov, 2024 10:39pm

Forex

Russian rouble steadies close to 98 against dollar

MOSCOW: The Russian rouble steadied near 98 to the dollar on Friday, still trading close to the symbolic 100...

Published 08 Nov, 2024 02:23pm

PM Shehbaz, VEON Group discuss IT and 5G expansion in Pakistan

Prime Minister Shehbaz Sharif said the government is committed to working with VEON Group, a multinational...

Updated 08 Nov, 2024 10:32pm

Sony quarterly net profit jumps but forecast unchanged

TOKYO: Sony’s net profit jumped in the second quarter thanks to stronger sales in gaming, music and imaging sensors,...

Published 08 Nov, 2024 02:05pm

British Airways owner announces jump in profits

LONDON: IAG, the owner of British Airways and Spanish carrier Iberia, said Friday that profits jumped in the third...

Published 08 Nov, 2024 01:57pm

Forex

South African rand slips against stronger dollar

JOHANNESBURG: The South African rand was slightly weaker in early trade on Friday, tracking the dollar which was...

Published 08 Nov, 2024 01:53pm

Mutual Funds

Euro zone yields dip, traders eye on German and US politics

LONDON: Euro zone bond yields moved lower on Friday, at the end of a busy week in which they had to digest major...

Published 08 Nov, 2024 01:47pm

Stocks

European shares muted as luxury firms fall

European shares were subdued at the open on Friday on the back of mixed earnings results, while heavyweight luxury...

Published 08 Nov, 2024 01:44pm

Commodities

Gold price per tola increases Rs2,000 in Pakistan

After registering a substantial decrease in the previous session, gold prices in Pakistan increased on Friday in...

Updated 08 Nov, 2024 02:26pm

Stocks

Record-setting spree continues, KSE-100 closes above 93,000 for first time

The Pakistan Stock Exchange (PSX) maintained its upward trajectory with the benchmark KSE-100 Index closing above...

Updated 08 Nov, 2024 10:03pm

Energy

Sacred cow: coal-hungry India eyes bioenergy to cut carbon

BARSANA: Venerated as incarnations of Hindu deities, India’s sacred cows are also being touted as agents of energy...

Published 08 Nov, 2024 12:42pm

Expanding transit trade to Europe: NLC carries out first shipment from Karachi to Warsaw

The National Logistics Corporation (NLC) successfully expanded its outreach to Europe, completing its first-ever...

Published 08 Nov, 2024 12:30pm

Stocks

Asian markets extend rally after Fed cut

HONG KONG: Asian equities extended gains Friday, tracking another Wall Street record after the Federal Reserve cut...

Published 08 Nov, 2024 12:28pm

South Asia

Indian court orders liquidation of Jet Airways

MUMBAI: India’s top court has ordered the liquidation of bankrupt airline Jet Airways, ending a five-year-long legal...

Published 08 Nov, 2024 12:12pm

Qantas plane returns to Australia airport due to ‘engine failure’, sparks fire

SYDNEY: A Qantas plane made an emergency landing Friday due to a “contained engine failure” soon after taking off...

Published 08 Nov, 2024 12:00pm

Companies

Reko Diq Mining Company approaches PIBT for cargo handling

Reko Diq Mining Company (Private) Limited has chosen Pakistan International Bulk Terminal Limited (PIBT) as the...

Updated 08 Nov, 2024 10:32pm

Mutual Funds

Bond rebound uncertain as Trump plans overshadow Fed rate cuts

NEW YORK: Prospects of a near-term rebound in the $28-trillion US government bond market are faltering, as Donald...

Published 08 Nov, 2024 11:09am

Currency

Rupee strengthens against US dollar

Currency hovers at 277.74 against the greenback in inter-bank market

Updated 08 Nov, 2024 10:26pm

Commodities

Palm oil follows Dalian rivals higher, set for third week of gains

JAKARTA: Malaysian palm oil futures were set on Friday for a third straight weekly gain, as prices rose further on...

Published 08 Nov, 2024 10:47am

Commodities

Trump-sparked soyoil rally pushes soybeans towards weekly gain

CANBERRA: Chicago soybean futures eased on Friday after reaching their highest in nearly a month in the previous...

Published 08 Nov, 2024 10:38am

Forex

Australia, NZ dollars set for solid weekly gains after a wild ride to 3-month lows

SYDNEY: The Australian and New Zealand dollars are headed for solid weekly gains after a wild ride this week when...

Published 08 Nov, 2024 10:37am

Mutual Funds

Indian bond yields seen tracking US peers lower, Fed commentary aids

MUMBAI: Indian government bond yields are expected to trend lower in opening deals on Friday, tracking a similar...

Published 08 Nov, 2024 10:35am

Stocks

Indian shares set to open higher after Fed rate cut

Indian stocks are poised to open higher on Friday, following the US Federal Reserve’s widely anticipated decision to...

Published 08 Nov, 2024 10:34am

Stocks

Miners, gold stocks push Australian shares to over a 2-week high

Australian shares climbed to over a two-week high on Friday, with mining and gold stocks leading gains as investors...

Published 08 Nov, 2024 10:33am

Stocks

Japan’s Nikkei edges up; earnings, US House election results in focus

TOKYO: Japan’s Nikkei share average rebounded on Friday, helped by a portion of big name stocks tracking Wall Street...

Published 08 Nov, 2024 10:32am

Forex

Pakistan’s remittance inflow at $3.05bn in October 2024, up 24% year-on-year

Amount also 7% higher when compared with $2.86 billion in September 2024

Updated 08 Nov, 2024 10:02pm

Bullion Rate

Gold extends gains on Fed rate cut, but heads for weekly fall

Gold prices inched higher on Friday, extending gains spurred by the Federal Reserve’s widely anticipated...

Published 08 Nov, 2024 10:30am

Forex

Dollar winds down after volatile week, China NPC in focus

SINGAPORE: The dollar took a breather on Friday, on track to cap off a wild week with a slight gain as markets...

Published 08 Nov, 2024 10:23am

Energy

Oil prices fall more than 1% as Hurricane Rafael risk recedes

LONDON: Oil prices fell on Friday on receding fears over the impact of Hurricane Rafael on oil and gas...

Updated 08 Nov, 2024 05:09pm

South Asia

India raids offices of sellers using Amazon, Flipkart platforms

NEW DELHI: India’s financial crime agency has raided offices of some sellers operating Amazon and Walmart-owned...

Published 08 Nov, 2024 08:23am

Companies

Unilever, Procter & Gamble face risk from Trump’s threatened Mexico tariffs

LONDON: Procter & Gamble and Unilever are among big packaged goods companies that would be exposed if US...

Published 08 Nov, 2024 08:13am

Industry

APTMA organises seminar on ‘Electronic Certificate of Origin’

LAHORE: The All Pakistan Textile Mills Association (APTMA) organised a seminar on Electronic Certificate of Origin...

Published 08 Nov, 2024 08:09am

Industry

Govt should formulate supportive policies for paper industry: LCCI

LAHORE: The government should formulate well-consulted and well-thought-out supportive policies for Pakistan’s...

Published 08 Nov, 2024 08:07am

Industry

‘Job Fair 2024 Exhibition’ held

FAISALABAD: A Job Fair 2024 exhibition was organised at Government College of Technology Samanabad, Faisalabad under...

Published 08 Nov, 2024 08:06am

Companies

K2 Airways to commence cargo services by Dec 1

KARACHI: K2 Airways, Pakistan’s first private sector air cargo, is going to commence its services by December 1,...

Published 08 Nov, 2024 08:00am

Industry

Start-up summit to foster innovation, collaboration: SECP

KARACHI: The Securities and Exchange Commission of Pakistan (SECP) held a press briefing, at its Karachi and...

Published 08 Nov, 2024 07:57am

Industry

Rice exporter honoured at World Rice Conference 2024

MANILA: The Embassy of Pakistan in Manila is pleased to announce that Pakistani rice exporter Fuad Garib has been...

Published 08 Nov, 2024 07:54am

Companies

PQG, Sybrid Pvt form strategic partnership

KARACHI: Pak-Qatar Group (PQG) has formed a strategic partnership with Sybrid Private Limited to enhance customer...

Published 08 Nov, 2024 07:51am

Call to revise Pakistan’s e-commerce policy urgently

KARACHI: Dr Rajan Sudesh Ratna, Deputy Head of the United Nations Economic and Social Commission for Asia and the...

Published 08 Nov, 2024 07:50am

Companies

Emirates Group posts record $2.8bn profit in H1

KARACHI: The Emirates Group on Thursday announced its best-ever half-year financial performance, posting a profit...

Published 08 Nov, 2024 07:45am

Future Summit concludes with focus on innovation, financial inclusion

KARACHI: The 8th Edition of The Future Summit continued on day second featuring discussions on emerging issues such...

Published 08 Nov, 2024 07:41am

Govt, World Bank review implementation progress of DEEP worth $78m

ISLAMABAD: The World Bank and government of Pakistan, on Thursday, reviewed the implementation progress of ...

Published 08 Nov, 2024 07:31am

Agriculture and Allied

Minister, US CG discuss agricultural development

LAHORE: Syed Ashiq Hussain Kirmani, the Minister for Agriculture & Livestock Punjab, held a meeting with US...

Published 08 Nov, 2024 07:12am

Industry

NIC hosts Connect 2024, bringing Pakistan’s thriving startup ecosystem into spotlight

ISLAMABAD: The National Incubation Center (NIC), on Thursday, showcased local innovation, bringing Pakistan’s...

Published 08 Nov, 2024 07:10am

Trade, investment and defence sectors: PM for further deepening cooperation with Turkiye

ISLAMABAD: Expressing satisfaction at the growing bilateral cooperation between Pakistan and Turkiye, Prime Minister...

Published 08 Nov, 2024 07:02am

From FY17-23: Nepra questions KE’s Rs68bn write-off claims

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has raised over a dozen questions on KE’s...

Updated 08 Nov, 2024 09:37am

MSCI unveils results of Nov index review

KARACHI: MSCI has announced results of index review for November 2024. In its latest index review, the MSCI ...