News Archives for Business & Finance - 2024-11-15

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Business & Finance - 2024-11-15

Govt keeps petrol, diesel prices unchanged

Prices of petrol and HSD to remain at Rs248.38, and Rs255.14 per litre, respectively

Updated 16 Nov, 2024 12:36am

Commodities

China to cut or cancel export tax rebates for products including aluminium

BEIJING: China’s finance ministry said on Friday it would reduce or cancel export tax rebates for a wide range of...

Published 15 Nov, 2024 11:09pm

Stocks

US stocks slump after Fed signals no rush to cut rates

WASHINGTON: Wall Street stocks slipped early Friday, after Federal Reserve Chair Jerome Powell signaled that the US...

Published 15 Nov, 2024 08:29pm

Mutual Funds

US yields extend rise after retail sales data

NEW YORK: US Treasury yields extended gains on Friday after data showed retail sales in the world’s largest economy...

Published 15 Nov, 2024 07:24pm

US finalizes up to $6.6 bn funding for chip giant TSMC

WASHINGTON: The United States will award Taiwanese chip giant TSMC up to $6.6 billion in direct funding to help...

Published 15 Nov, 2024 05:45pm

Business & Economy

1QFY25: With IMF in Islamabad, Punjab revises budget figures, now posts Rs40bn surplus

Finance ministry says with concurrence of the IMF, it has updated revised figures on its website, showing a surplus for Pakistan's most populous province

Updated 15 Nov, 2024 10:56pm

Energy

PPL discovers hydrocarbon reserves in Sujawal

Pakistan Petroleum Limited (PPL), an oil and gas exploration firm, has discovered hydrocarbon reserves from Pateji...

Updated 15 Nov, 2024 07:43pm

Commodities

Gold price per tola increases Rs1,300 in Pakistan

After declining in the previous session, gold prices in Pakistan went higher on Friday in line with their increase...

Updated 15 Nov, 2024 06:59pm

Business & Economy

CCoP reiterates ‘resolve to divest’ PIA shares, but adds G2G mode

Says will pursue its divestment through privatisation or government-to-government mode

Updated 15 Nov, 2024 10:29pm

Stocks

Europe’s STOXX 600 opens lower as tech, healthcare shares drag

Europe’s STOXX 600 opened lower on Friday, dragged by technology and healthcare stocks, keeping the index on track...

Published 15 Nov, 2024 02:20pm

Stocks

China stocks log biggest weekly loss since July as output, home price data disappoints

HONG KONG: Chinese stocks had their biggest weekly loss since July, while Hong Kong shares erased early gains to end...

Updated 15 Nov, 2024 04:22pm

Commodities

Asia gold: India premiums reach 4-month peak as price drop attracts customers

Physical gold premiums in India climbed to a near four-month high this week, driven by a rebound in demand as prices...

Published 15 Nov, 2024 12:53pm

Forex

South African rand extends losses; S&P rating review due

JOHANNESBURG: The rand eased early on Friday, extending a week of losses following Donald Trump’s U.S. election win,...

Published 15 Nov, 2024 12:43pm

Forex

Kenyan shilling stable; export dollar inflows match demand

NAIROBI: The Kenyan shilling was barely changed on Friday, as dollar supply from exports matched demand from the...

Published 15 Nov, 2024 12:35pm

Europe

UK economy grows by just 0.1% in Q3

Britain’s economy grew by a slower than expected 0.1% in the third second quarter of 2024, official figures showed...

Published 15 Nov, 2024 12:12pm

Financial

JGB yields rise on BOJ rate-hike bets, Powell’s comments weigh

TOKYO: Japanese government bond (JGB)yields rose on Friday, as a weak yen raised bets for a Bank of Japan rate hike,...

Published 15 Nov, 2024 12:02pm

Commodities

Palm rises after 3 days of fall, set for first weekly drop in four

JAKART: Malaysian palm oil futures rose on Friday after three straight sessions of losses but were on course for...

Updated 15 Nov, 2024 04:24pm

Stocks

KSE-100 pulls back after brief run past 95,000, still closes at record high

Momentum driven by growing optimism on economic front

Updated 15 Nov, 2024 10:43pm

Currency

Rupee registers marginal gain against US dollar

Currency settles at 277.67 against greenback in inter-bank market

Updated 15 Nov, 2024 11:43pm

Companies

TikTok makes AI driven ad tool available globally

SAN FRANCISCO: TikTok on Thursday began letting all marketers on its platform use an artificial intelligence-powered...

Published 15 Nov, 2024 10:34am

Money & Banking

BAFL operations in Bangladesh: central banks give green signal for due diligence facilitation

The central banks of Pakistan and Bangladesh have granted in-principle approval to Bank Alfalah Limited (BAFL) to...

Updated 15 Nov, 2024 04:42pm

Stocks

Asian markets fluctuate at end of tough week

HONG KONG: Asian markets were mixed Friday after Federal Reserve boss Jerome Powell tempered expectations for...

Published 15 Nov, 2024 10:27am

Commodities

Japan rubber futures close higher on weaker yen, but post weekly fall

SINGAPORE: Japanese rubber futures rose on Friday, helped by a weaker yen, but posted their third weekly fall in...

Updated 15 Nov, 2024 02:32pm

Companies

Lenovo plans global factory expansion as Q2 results beat; eyes AI growth

BEIJING: Lenovo will further diversify its supply chain and plans to open more manufacturing facilities outside...

Published 15 Nov, 2024 10:13am

Commodities

London copper ticks up but heads for worst week in four months

London copper nudged up on Friday but was set for its worst week in four months amid a surging dollar and concerns...

Updated 15 Nov, 2024 04:27pm

Indonesia’s exports, imports beat forecasts, trade surplus less than expected

JAKARTA: Indonesia reported stronger-than-expected export and import growth in October, amid strong agriculture...

Published 15 Nov, 2024 10:04am

Commodities

China October aluminium output rises on firm demand, higher prices

SINGAPORE: China’s October aluminium output rose from a year earlier, official data showed on Friday, with a firm...

Published 15 Nov, 2024 10:01am

Commodities

Gold set for worst week in 3 years as US dollar rallies

Gold prices steadied near the previous session’s two-month lows on Friday and were poised for their worst weekly...

Updated 15 Nov, 2024 04:29pm

Commodities

Iron ore falters on China property woes, heads for weekly loss

SINGAPORE: Iron ore futures prices fell for a second straight session on Friday and were set for a weekly decline,...

Published 15 Nov, 2024 09:57am

Forex

China’s yuan on course for seventh weekly drop, longest losing streak since 2021

SHANGHAI: China’s yuan slipped against the dollar on Friday and looked set for the seventh straight weekly drop, the...

Updated 15 Nov, 2024 04:35pm

South Asia

Malaysia’s economy grows 5.3% y/y in Q3

KUALA LUMPUR: Malaysia’s economy grew 5.3% in the third quarter from a year earlier, slowing from an 18-month high...

Published 15 Nov, 2024 09:52am

Money & Banking

BOJ may offer hints of next rate-hike timing in Ueda’s closely watched speech

TOKYO: Bank of Japan Governor Kazuo Ueda will deliver a speech and hold a news conference in the central Japan city...

Published 15 Nov, 2024 09:48am

Stocks

Australia shares post weekly loss as China’s stimulus dampens mining appetite

Australian shares rose on Friday but ended the week marginally lower as miners slumped, reflecting dampened investor...

Updated 15 Nov, 2024 04:37pm

Stocks

Japan’s Nikkei snaps 3-day slide as automakers and banks gain

TOKYO: Japan’s Nikkei share average snapped a three-session slide on Friday, as a weaker yen lifted automakers and...

Updated 15 Nov, 2024 04:39pm

Energy

Oil prices on track for weekly loss as Chinese demand wanes

For the week, Brent set to fall 2.9% while WTI set to decline 3.6%

Updated 15 Nov, 2024 10:54pm

Forex

Dollar eyes weekly gain on slower Fed easing, inflation outlook

SINGAPORE: The dollar was headed for its best week in more than a month on Friday, buoyed by expectations of fewer...

Published 15 Nov, 2024 09:37am

Industry

Pakistan’s climate challenges: OICCI highlights critical role of private sector at COP29

KARACHI: The Overseas Investors Chamber of Commerce and Industry (OICCI) underscored the essential role of...

Published 15 Nov, 2024 07:34am

Regulatory reforms: Public-private dialogue in key agricultural markets held

ISLAMABAD: Following the directives of the Prime Minister, the Public-Private Dialogue on Regulatory Reforms in Key...

Published 15 Nov, 2024 07:27am

Industry

SBP holds ‘Islamic Banking’ seminar at HCSTSI Secretariat

HYDERABAD: President of Hyderabad Chamber of Small Traders & Small Industry (HCSTSI), Muhammad Saleem Memon...

Published 15 Nov, 2024 07:24am

SECP notifies Regulations for securities managers

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has allowed eligible securities brokers to...

Published 15 Nov, 2024 07:23am

Companies

Group’s portfolio: VEON chief recognizes JazzCash as ‘crown jewel’

KARACHI: VEON Group’s Chairman and Founder Augie K Fabela II, recognized JazzCash as the "crown jewel" in their...

Published 15 Nov, 2024 07:15am

Money & Banking

Dollar extends advance on Trump trade momentum

NEW YORK: The US dollar extended its recent advance against major peers on Thursday, trading at a one-year high and...

Published 15 Nov, 2024 07:05am

Money & Banking

China’s yuan falls to 3-month low

SHANGHAI: China’s yuan fell to its lowest level against the US dollar in more than three months on Thursday, as...

Published 15 Nov, 2024 06:58am

Companies

Samba Bank Limited: BAFL withdraws PAI to acquire SNB shareholding

KARACHI: Bank Alfalah Limited (BAFL) has withdrawn its public announcement of intention (PAI) to acquire 84.51...

Published 15 Nov, 2024 06:40am

Europe

EU fines Meta $840m for ‘abusive’ Facebook ad practices

BRUSSELS: The EU fined online giant Meta almost 800 million euros on Thursday for breaching antitrust rules by ...

Published 15 Nov, 2024 06:32am

Forex reserves up $34m

KARACHI: The country’s total liquid foreign exchange reserves increased by $ 34 million during the last week....

Published 15 Nov, 2024 06:20am

Taxes

Appeal system becomes dysfunctional: Uncertainty surrounds Rs2.7trn tax litigations: PTBA

KARACHI: The country’s tax appeal system has fallen into “dysfunction” phase six months after major reforms were...

Updated 15 Nov, 2024 09:23am

‘China (Shandong)-Pak Economic & Trade Matchmaking Conference’ held

LAHORE: The Department of Commerce of Shandong Province (China) recently hosted the China (Shandong)-Pakistan...

Published 15 Nov, 2024 06:20am

Tax dept ‘fails’ to disallow input tax claim against UFG

LAHORE: The tax department has failed to disallow a major gas pipeline company’s input tax claim, citing that it...

Published 15 Nov, 2024 06:20am

Panel informed: Unemployment rate stands at 6.3pc

ISLAMABAD: A parliamentary panel was informed on Thursday that the unemployment rate in the country stands at 6.3...

Published 15 Nov, 2024 06:20am

Tax crypto and plastic to pay for climate, development, leaders urge

BAKU: Plastics and cryptocurrencies could be taxed like flying and fossil fuels to plug the gap in climate finance...

Published 15 Nov, 2024 06:20am

Industry

KPT Board acting chairman: LCCI greets Saigol for assuming charge

LAHORE: The President of the Lahore Chamber of Commerce and Industry Mian Abuzar Shad, Senior Vice President ...

Published 15 Nov, 2024 06:20am

Provincial govts: KP finance minister sounds alarm on low agri tax collection

ISLAMABAD: Khyber Pakhtunkhwa Finance Minister Muzzammil Aslam, Thursday, expressed concern over low collection of...

Published 15 Nov, 2024 06:20am

‘FPCCI actively working to enhance representation of women entrepreneurs’

Industry

Money & Banking

Asian currencies extend losses

BENGALURU: Asian currencies extended losses on Thursday, pressured by the greenback surging to a one-year high on...

Updated 15 Nov, 2024 07:06am

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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