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

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Business & Finance - 2024-11-11

Statistics

Lower interest rates: car sales in Pakistan increase 27% MoM in October 2024

Car sales in Pakistan surged by 27% month-on-month (MoM) to 13,100 units in October 2024 as lower interest rates...

Updated 12 Nov, 2024 12:14am

Stocks

Trump-fueled rally propels Wall Street to record highs

Wall Street’s main indexes hit record highs on Monday, extending post-election gains, ahead of the next batch of...

Published 11 Nov, 2024 09:41pm

Business & Economy

Ministry assures Maersk of ‘full support’ as Pakistan seeks $2bn investment from Danish company

Agreement with Maersk expected this week, Maritime Affairs minister Qaiser Ahmed Sheikh says

Updated 11 Nov, 2024 10:03pm

Stocks

Gulf bourses end mixed on weak oil, ahead of US data

Stock markets in the Gulf ended mixed on Monday amid weak oil prices and ahead of U.S. economic data and comments...

Published 11 Nov, 2024 07:00pm

Commodities

Copper dips as fall in Chinese new lending signals weak demand

LONDON: Copper slipped on Monday after new bank lending in China fell more than expected in October, highlighting...

Published 11 Nov, 2024 05:14pm

Stocks

Indian shares close flat at IT offsets earnings, foreign outflow concerns

Indian shares closed little changed in a volatile session on Monday, as a rise in information technology and...

Published 11 Nov, 2024 04:30pm

Stocks

Sri Lankan shares end higher as real estate, IT gain

Sri Lankan shares closed higher on Monday, aided by gains in real estate and information technology stocks. The CSE...

Published 11 Nov, 2024 04:28pm

Commodities

Palm oil closed highest since mid June 2022

JAKARTA: Malaysian palm oil futures closed up on Monday, following emergence of new buying interest and short...

Published 11 Nov, 2024 04:25pm

Commodities

Gold price per tola decreases Rs1,300 in Pakistan

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

Updated 11 Nov, 2024 10:42pm

QatarEnergy buys 23% of offshore Egypt block from Chevron

DUBAI: QatarEnergy will buy a 23% stake from Chevron in an offshore exploration block in Egyptian waters, it said on...

Published 11 Nov, 2024 03:40pm

Stocks

European shares open higher at start of data-packed week

European shares opened higher on Monday with most sectors rising, kicking off a week packed with global economic...

Published 11 Nov, 2024 02:56pm

Stocks

Most Gulf markets ease on weak oil, ahead of US data

Most stock markets in the Gulf fell in early trade on Monday amid weak oil prices and caution ahead of US economic...

Published 11 Nov, 2024 02:55pm

Mutual Funds

European bond yields fall as investors digest US, German politics

Euro zone government bond yields fell across the board on Monday as investors digested the potential impact of...

Published 11 Nov, 2024 02:53pm

Forex

Russian rouble weakens vs dollar as Trump speaks with Putin

MOSCOW: The Russian rouble weakened against the US dollar on Monday as local markets weighed the prospects of a...

Published 11 Nov, 2024 02:52pm

Energy

Saudi crude oil supply to China to fall in December on weak demand

SINGAPORE: Saudi Arabia’s crude oil supply to China is set to fall to about 36.5 million barrels in December, trade...

Published 11 Nov, 2024 02:50pm

Commodities

Ivory Coast 2024/2025 cocoa arrivals up 30% as of Nov. 10

ABIDJAN: Cocoa arrivals at ports in top grower Ivory Coast reached 455,000 metric tons by Nov. 10 since the start of...

Published 11 Nov, 2024 02:44pm

Energy

Attock Refinery denies sale rumours, share price plummets

Company clarifies that no such matter is under consideration

Updated 11 Nov, 2024 10:43pm

India to summon Amazon, Flipkart executives as regulatory scrutiny grows, source says

NEW DELHI: India’s financial crime agency will summon Flipkart and Amazon executives as it steps up an investigation...

Published 11 Nov, 2024 01:45pm

Forex

South African rand stable; local jobs data in focus this week

JOHANNESBURG: The South African rand was little changed in early trade on Monday, with local unemployment figures a...

Published 11 Nov, 2024 01:25pm

Commodities

Bangladesh issues another tender to buy 50,000 T wheat

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

Published 11 Nov, 2024 01:23pm

Stocks

Chipmakers drag South Korean shares lower; Samsung at more than 2-year low

KOSPI closed down 29.49 points

Published 11 Nov, 2024 01:20pm

Energy

Kuwait lowers December crude prices for Asia, document shows

SINGAPORE: Kuwait has lowered the official selling price (OSP) for Kuwait Export Crude (KEC) to Asia in December to...

Published 11 Nov, 2024 11:45am

Forex

Australia, NZ dollars steady after Beijing’s disappointing debt plan snuffs out rally

SYDNEY: The Australian and New Zealand dollars steadied on Monday after a disappointing local government debt relief...

Published 11 Nov, 2024 11:32am

Exchange

Rupee registers marginal decline against US dollar

Currency settles at 277.86 against greenback in inter-bank market

Updated 11 Nov, 2024 09:34pm

Commodities

Indonesia may not import rice in 2025, says senior minister

JAKARTA: Indonesia may not import rice in 2025, Zulkifli Hasan, a senior minister overseeing food affairs, said on...

Published 11 Nov, 2024 11:29am

ADB increases climate finance after US, Japan give world’s first sovereign guarantees

BAKU: The Asian Development Bank will increase its climate-related lending by up to $7.2 billion after the United...

Published 11 Nov, 2024 11:19am

Forex

Indian rupee slips to record low as Asia FX declines; cenbank likely steps

MUMBAI: The Indian rupee weakened to its lowest level on record on Monday, as worries about Donald Trump’s victory...

Published 11 Nov, 2024 11:14am

Swiss National Bank not locked into rate cuts, Vice Chairman says

ZURICH: The Swiss National Bank is not locked into more interest rate cuts in December, Vice Chairman Antoine Martin...

Published 11 Nov, 2024 11:09am

Mutual Funds

Philippines awards $342mn T-bill offer

BTr fully awards 20 billion pesos

Published 11 Nov, 2024 11:01am

Mutual Funds

India bond yields biased lower on pullback in US rates

MUMBAI: Indian government bond yields are expected to kick off the week with a slightly downward bias in wake of US...

Published 11 Nov, 2024 10:46am

Stocks

Indian shares set to open little changed

Indian shares are set to open little changed on Monday, after logging five weeks of losses in six on Friday, as...

Published 11 Nov, 2024 10:44am

Stocks

KSE-100 retreats after briefly touching 94,000 but still closes at record high

Benchmark index settles at 93,648.33, up by 357 points as compared to previous close

Updated 11 Nov, 2024 11:08pm

Commodities

Malaysia end-October palm oil stocks fall 6.32%, MPOB says

KUALA LUMPUR: Malaysia’s palm oil stocks at the end of October fell 6.32% from the previous month to 1.88 million...

Published 11 Nov, 2024 10:28am

Currency

Bitcoin surges to new record as Trump’s election turbocharges cryptocurrencies

LONDON: Bitcoin soared to a record high above $82,000 on Monday on expectations that cryptocurrencies will boom in a...

Updated 11 Nov, 2024 05:24pm

Commodities

Soybeans rise on US crop downgrade, vegoil rally

CANBERRA: Chicago soybean futures recovered on Monday towards Friday’s five-week high, helped by the US Department...

Published 11 Nov, 2024 10:22am

Bullion Rate

Gold subdued as investors await US data, comments from Fed officials

Gold prices were little changed in early Asia hours on Monday, as market participants awaited comments from Federal...

Published 11 Nov, 2024 10:20am

Stocks

Australian shares muted as commodity stock losses offset gains in financials

Australian shares were largely muted on Monday, as gains in financial stocks were countered by losses in commodity...

Published 11 Nov, 2024 10:17am

Forex

China’s yuan steady as Trump trade fades, but volatility seen spiking next year

SHANGHAI: China’s yuan was steady on Monday, as the prospects of further economic stimulus and a likely increase in...

Published 11 Nov, 2024 10:16am

Stocks

China, Hong Kong stocks fall on Beijing debt plan letdown

HONG KONG: China and Hong Kong stocks opened lower on Monday as Beijing’s local government debt relief package fell...

Published 11 Nov, 2024 10:14am

Stocks

Japan’s Nikkei falls as dim corporate outlook dulls Sony’s shine

TOKYO: Japan’s Nikkei share average fell on Monday as domestic firms’ dim outlook hurt sentiment, although Sony...

Published 11 Nov, 2024 10:12am

Stocks

Asian stocks slide as China stimulus disappoints; bitcoin extends record rally

TOKYO: Hong Kong stocks led declines in Asia on Monday after Beijing’s latest stimulus fell short of investor...

Published 11 Nov, 2024 10:11am

Forex

Dollar underpinned before US inflation data, Fed speakers

SYDNEY: The dollar edged higher on Monday as markets braced for US inflation data and a throng of Federal Reserve...

Published 11 Nov, 2024 10:08am

Energy

Oil slides on Chinese stimulus plan disappointment

HOUSTON: Oil prices fell by more than $2 a barrel on Monday after China’s stimulus plan disappointed investors...

Updated 11 Nov, 2024 09:39pm

FBR seizes smuggled goods worth Rs106.08bn in 2023-24

ISLAMABAD: The Federal Board of Revenue (FBR) has seized smuggled goods valued at Rs 106.08 billion during 2023-24...

Published 11 Nov, 2024 06:03am

Stocks

Wall Street Week Ahead: Inflation data poses test for stocks rally after Trump win

NEW YORK: Investors will focus in the coming week on whether inflation trends can help sustain the record-breaking...

Published 11 Nov, 2024 06:03am

Stocks

Banks help Australian shares log best week since mid-August

SYDNEY: Australian shares notched up their best week in 12 on Friday, helped by robust gains in banks as the...

Published 11 Nov, 2024 06:03am

Stocks

Lacklustre China stimulus drags FTSE 100 to 3-month low

BRITAIN: Britain’s FTSE 100 fell to a three-month low on Friday, dragged down by homebuilder Vistry following a...

Updated 11 Nov, 2024 07:02am

Rs237bn FED collected from cigarettes in 2023-24

ISLAMABAD: The Federal Board of Revenue (FBR) has collected Rs 237 billion as federal excise duty (FED) from...

Updated 11 Nov, 2024 09:24am

Industry

Sales tax returns: KCCI demands suspension of affidavit requirement

KARACHI: President Karachi Chamber of Commerce and Industry (KCCI) Muhammad Jawed Bilwani, while vehemently...

Published 11 Nov, 2024 06:03am

Money & Banking

Sterling close to 2-1/2-year high

LONDON: Sterling was within striking distance of its highest level in more than 2-1/2 years against the euro on...

Published 11 Nov, 2024 06:03am

Money & Banking

China’s yuan set for 6th weekly drop

SHANGHAI: China’s yuan slipped and looked set for its sixth losing week, hurt by investor worries about higher...

Published 11 Nov, 2024 06:03am

Money & Banking

Indian rupee weakens to record low

MUMBAI: The Indian rupee weakened to a record low on Friday and logged its worst weekly fall since May, pressured by...

Published 11 Nov, 2024 06:03am

Energy

Saudi Aramco reports 15pc drop in Q3 profit but maintains dividend

DUBAI: Saudi oil giant Aramco on Tuesday reported a 15.4% drop in third-quarter profit due to lower crude prices and...

Published 11 Nov, 2024 06:03am

Multilateral development banks stepping into climate breach: EBRD President

LONDON: Multilateral development banks are putting much more focus on investments to tackle climate change, the...

Updated 11 Nov, 2024 06:47am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Nov 22	277.85
USD PKR Interbank Buying / Nov 22	277.65
USD to Japanese Yen / Nov 23	154.78
USD to Swiss Franc / Nov 23	0.89
Pound Sterling to USD / Nov 23	1.25
Euro to USD / Nov 23	1.04

Stock	Volume
S&P 500 / Nov 22	5,969.34
India Sensex / Nov 22	79,117.11
Tokyo Nikkei / Nov 22	38,283.85
Nasdaq / Nov 22	18,003.65
Hang Seng / Nov 22	19,229.97
FTSE 100 / Nov 22	8,262.08
Dow Jones / Nov 22	44,296.51
Germany DAX 30 / Nov 22	19,322.59

Item	Value
Karachi Cotton PKR/37.32 KG / Nov 22	17,785
Gold 10 Grams PKR / Nov 22	240,483
Crude Oil USD/Barrel / Nov 23	71.24
Gold Spot USD/Ounce / Nov 23	2,716.19
Cotton US¢/pound / Nov 23	70.77
Petrol/Litre / Nov 24	248.38

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Nov 24 786 Investments Limited(786)	6.82 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Nov 24 Al-Abbas Sugar Mills Limited(AABS)	593.76 ▼ 0.00 (0.00%)
Agro Allianz / Nov 24 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Nov 24 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Nov 24 Ali Asghar Textile Mills Limited(AATM)	70.89 ▼ 0.00 (0.00%)
Allied Bank / Nov 24 Allied Bank Limited(ABL)	120.21 ▼ 0.00 (0.00%)
Abbott Lab. / Nov 24 Abbott Laboratories (Pakistan) Limited(ABOT)	1,023.10 ▼ 0.00 (0.00%)
Abson Ind. / Nov 24 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Nov 24 Alfalah Consumer Index ETF.(ACIETF)	12.55 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Nov 24 786 Investments Limited(786)	6.82 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Nov 24 Al-Abbas Sugar Mills Limited(AABS)	593.76 ▲ 0.00 (0.00%)
Agro Allianz / Nov 24 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Nov 24 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Nov 24 Ali Asghar Textile Mills Limited(AATM)	70.89 ▲ 0.00 (0.00%)
Allied Bank / Nov 24 Allied Bank Limited(ABL)	120.21 ▲ 0.00 (0.00%)
Abbott Lab. / Nov 24 Abbott Laboratories (Pakistan) Limited(ABOT)	1,023.10 ▲ 0.00 (0.00%)
Abson Ind. / Nov 24 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Nov 24 Alfalah Consumer Index ETF.(ACIETF)	12.55 ▲ 0.00 (0.00%)

Stock	Volume
WorldCall Telecom / Nov 24 Worldcall Telecom Limited(WTL)	177,135,830 ▲ 0.00
K-Electric Ltd. / Nov 24 K-Electric Limited(KEL)	124,131,268 ▲ 0.00
Hascol Petrol / Nov 24 Hascol Petroleum Limited(HASCOL)	105,013,176 ▲ 0.00
Fauji Foods Ltd / Nov 24 Fauji Foods Limited(FFL)	77,697,371 ▲ 0.00
Treet Battery / Nov 24 Treet Battery Limited(TBL)	43,783,366 ▲ 0.00
B.O.Punjab / Nov 24 The Bank of Punjab(BOP)	36,573,763 ▲ 0.00
Sui South Gas / Nov 24 Sui Southern Gas Company Limited(SSGC)	32,719,678 ▲ 0.00
PIA Holding Co.Ltd / Nov 24 PIA Holding Company Limited(PIAHCLA)	27,969,689 ▲ 0.00
Cnergyico PK / Nov 24 Cnergyico PK Limited(CNERGY)	25,874,820 ▲ 0.00

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