News Archives for Business & Finance - 2024-11-18

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Business & Finance - 2024-11-18

Stocks

Most Gulf bourses fall on Fed’s rate-cut caution; Egypt extends loss

Most stock markets in the Gulf ended lower on Monday, hurt by concerns that the U.S. Federal Reserve would slow its...

Published 18 Nov, 2024 07:38pm

Stocks

KSE-100 reaches another record high, closes shy of 95,000

Some buying momentum was seen at the Pakistan Stock Exchange (PSX) as its benchmark KSE-100 Index closed higher by...

Updated 18 Nov, 2024 10:33pm

Commodities

Copper edges down on uncertainty, aluminium retreats after rally

LONDON: Copper prices dipped on Monday as investors awaited more news about potential U.S. tariffs and Chinese...

Published 18 Nov, 2024 05:32pm

Middle East

US, UAE climate-friendly farming partnership grows to $29 billion

Funding for a climate-friendly farming effort led by the U.S. and United Arab Emirates has reached $29.2 billion,...

Published 18 Nov, 2024 05:27pm

Stocks

Sri Lankan shares rise as president reappoints prime minister, keeps finance minister role

CSE All-Share index settled 0.24% higher at 13,231.01

Published 18 Nov, 2024 05:22pm

Stocks

India’s Sensex slips into correction on worries over foreign outflows, tepid earnings

India’s benchmark Sensex slipped into correction territory on Monday, on persistent concerns over foreign outflows...

Published 18 Nov, 2024 04:52pm

Commodities

Palm drops more than 3% on weakness of Dalian palm olein

KUALA LUMPUR: Malaysian palm oil futures fell more than 3% on Monday, weighed down by weakness in the Dalian palm...

Published 18 Nov, 2024 04:47pm

Companies

US no-frills pioneer Spirit Airlines files for bankruptcy protection

Spirit Airlines has filed for bankruptcy protection, it said on Monday, after the pioneer of no-frills travel in the...

Published 18 Nov, 2024 04:45pm

Business & Economy

PM Shehbaz briefed on IMF talks, reviews economic situation

The Ministry of Finance briefed Prime Minister Shehbaz Sharif regarding the ongoing talks with the International...

Updated 18 Nov, 2024 11:07pm

Energy

Pakistan’s power generation increases in October as cost surges

Power generation in Pakistan stood at 10,262 GWh (13,793 MW) in October 2024, an increase of over 7% YoY compared to...

Published 18 Nov, 2024 03:20pm

Forex

China’s yuan steady on PBOC guidance; outlook shaky on US tariff risks

SHANGHAI: China’s yuan was steady on Monday as the dollar’s furious rally took a breather, while the Chinese central...

Published 18 Nov, 2024 02:47pm

Commodities

Bangladesh gets offers in tender to buy 50,000 T rice

HAMBURG: The lowest price offered in the tender from Bangladesh’s state grains buyer to purchase 50,000 metric tons...

Published 18 Nov, 2024 02:43pm

Forex

Ugandan shilling trades little-changed, under some pressure

KAMPALA: The Ugandan shilling was little-changed on Monday, but was under a little pressure as energy importers...

Published 18 Nov, 2024 02:41pm

Commodities

Gold price per tola increases Rs2,500 in Pakistan

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

Published 18 Nov, 2024 02:39pm

Mutual Funds

Euro zone yields mixed, focus on US Treasuries, economic data

Euro zone borrowing costs were mixed on Monday, with US Treasury yields settling around their recent highs while a...

Published 18 Nov, 2024 02:19pm

Forex

South African rand firms on S&P outlook upgrade

JOHANNESBURG: South Africa’s rand gained on Monday, as markets welcomed rating agency S&P’s decision to raise...

Published 18 Nov, 2024 02:17pm

ECB’s Nagel says Trump’s tariffs may have minor impact on inflation

FRANKFURT: The tariffs promised by US President-elect Donald Trump would upend international trade but may...

Published 18 Nov, 2024 02:16pm

Energy

China’s Oct refined fuel exports fall to 18-month low

BEIJING: China’s refined fuel exports fell to an 18-month low in October, customs data showed on Monday, as weak...

Published 18 Nov, 2024 02:14pm

Stocks

Most Gulf markets gain in early trade on firmer oil prices

Most stock markets in the Gulf rose in the early trading on Monday, tracking higher oil prices after fighting...

Published 18 Nov, 2024 02:09pm

Forex

Kenyan shilling unchanged versus dollar, LSEG data shows

Shilling traded at 129.00/130.00 at 08:26 GMT

Published 18 Nov, 2024 02:07pm

Stocks

Stocks, dollar mixed as traders scale back US rate cut bets

LONDON: European and Asian stock markets traded mixed Monday following a pre-weekend retreat on Wall Street as...

Updated 18 Nov, 2024 05:00pm

Commodities

Ivory Coast 2024/25 cocoa arrivals up 32% as of Nov.17

ABIDJAN: Cocoa arrivals at ports in top grower Ivory Coast reached 549,000 metric tons by Nov. 17 since the start of...

Published 18 Nov, 2024 02:05pm

Forex

Russian rouble hovers around 100 to US dollar on renewed tensions with West

MOSCOW: The Russian rouble hovered near 100 to the US dollar on Monday after reports that the US administration had...

Published 18 Nov, 2024 02:02pm

Commodities

Cotton arrival slumps in first two weeks of November

Cotton arrival in Pakistan registered a massive decline of 34% as of November 15, 2024 compared to the same period...

Updated 18 Nov, 2024 10:38pm

Business & Economy

Jul-Oct FDI clocks in at $904.3mn, up 32% YoY

Net Foreign Direct Investment (FDI) in Pakistan grew 32.3% during the first four months of the ongoing fiscal year...

Updated 18 Nov, 2024 11:20pm

Commodities

China’s Oct aluminium imports fall 8.7% y/y, customs data shows

SINGAPORE: China’s imports of unwrought aluminium and aluminium products in October slid 8.7% year-on-year to...

Published 18 Nov, 2024 12:40pm

Indian central bank likely selling dollars to support rupee, traders say

MUMBAI: The Indian central bank was likely selling dollars to support the rupee as the currency lingered near its...

Published 18 Nov, 2024 12:33pm

Statistics

Pakistan’s REER index increases to 100.9 in October 2024

Pakistan’s Real Effective Exchange Rate (REER), a measure of the value of a currency against a weighted average of...

Updated 18 Nov, 2024 10:35pm

Bullion Rate

Gold gains over 1% as dollar rally stalls

Gold prices rose more than 1% on Monday after last week’s sharp declines, as a rally in the dollar paused, while...

Published 18 Nov, 2024 12:19pm

Real Estate

Country Garden submits offshore debt restructuring plan to creditors, sources say

HONG KONG: China’s Country Garden submitted the preliminary terms of an offshore debt restructuring proposal to some...

Published 18 Nov, 2024 11:54am

Commodities

Palm declines on weakness of Dalian palm olein

KUALA LUMPUR: Malaysian palm oil futures traded lower on Monday, weighed by weakness in Dalian palm olein. The...

Published 18 Nov, 2024 11:51am

Commodities

Soybeans ease on stronger dollar, South American harvest outlook

BEIJING: Chicago soy futures reversed gains on Monday as a stronger dollar and expectations of a large South...

Published 18 Nov, 2024 11:47am

Stocks

China, HK stocks rise on regulator guidelines; tariff threat looms

SHANGHAI: China and Hong Kong stocks rose on Monday after Chinese regulators urged listed companies to bolster share...

Published 18 Nov, 2024 11:44am

Energy

Sinopec, Aramco start building petrochemical complex in China’s Fujian

SINGAPORE: Sinopec Corp said on Monday that the company and Saudi Aramco have started constructing a refinery and...

Published 18 Nov, 2024 11:32am

Commodities

Iran’s SLAL tenders for 120,000 T feed barley, traders say

HAMBURG: Iranian state-owned animal feed importer SLAL has issued an international tender to purchase at least...

Published 18 Nov, 2024 11:29am

Commodities

Thai rice exports up 20% y/y in first 10 months of 2024, says commerce ministry

BANGKOK: Thai rice exports were up 20% in the January to October period of 2024 compared to the same period a year...

Published 18 Nov, 2024 11:26am

Statistics

Pakistan records $349mn current account surplus in October 2024

This is the third consecutive month in which Pakistan's current account has posted surplus

Updated 18 Nov, 2024 10:27pm

Foxconn tells India recruiters: Nix marital status in iPhone job ads

SRIPERUMBUDUR: Apple supplier Foxconn has ordered the hiring agents that help recruit iPhone assembly workers in...

Published 18 Nov, 2024 11:18am

Real Estate

Shanghai will reduce real estate transaction taxes to boost demand, state media says

BEIJING: Shanghai said on Monday it would reduce some taxes on real estate transactions from Dec. 1, according to...

Published 18 Nov, 2024 11:09am

Exchange

Rupee records marginal decline against US dollar

Currency settles at 277.86 against greenback in inter-bank market

Updated 18 Nov, 2024 09:41pm

Forex

Indian rupee nearly flat; central bank intervention supports as equities stay tepid

MUMBAI: The Indian rupee was nearly unchanged on Monday as likely intervention by the Reserve Bank of India (RBI)...

Published 18 Nov, 2024 10:56am

Goldman Sachs downgrades Hong Kong stocks to underweight

SINGAPORE: Hong Kong stocks are cheap but may miss out on the benefits of China’s efforts to support its economy,...

Published 18 Nov, 2024 10:53am

Mutual Funds

Indian bond yields to start week on a flattish note amid lack of triggers

MUMBAI: Indian government bond yields are expected to trade largely unchanged at the start of another...

Published 18 Nov, 2024 10:38am

Stocks

Shares rise ahead of Nvidia results; BOJ’s Ueda offers few rate hints

SINGAPORE: Global stocks began the week on firmer footing ahead of a highly anticipated earnings release from...

Published 18 Nov, 2024 10:34am

Stocks

Indian shares set for a muted start

Indian shares are set for a muted start on Monday after the benchmark Nifty 50 slipped into correction territory...

Published 18 Nov, 2024 10:31am

Stocks

Banks, healthcare stocks drag Australian shares lower; ASIC sues NAB

Australian shares fell on Monday, dragged down by financial and healthcare stocks, while the country’s corporate...

Published 18 Nov, 2024 10:27am

Stocks

Japan’s Nikkei falls as tech shares track Wall Street losses

TOKYO: Japan’s Nikkei share average fell on Monday as technology shares tracked U.S peers’ losses at the end of last...

Published 18 Nov, 2024 10:25am

Forex

Australia, NZ dollars bounce against yen as BOJ’s Ueda disappoints hawks

SYDNEY: The Australian and New Zealand dollars bounced versus the yen on Monday as Japan’s top central banker...

Published 18 Nov, 2024 10:18am

Forex

Thai baht gains as GDP growth beats estimates; Asia FX off to muted start

The Thai baht inched higher on Monday, outperforming most other emerging market currencies in Asia, after the...

Published 18 Nov, 2024 10:07am

Forex

Dollar firms against yen as BOJ leaves open timing of hikes

SYDNEY: The dollar rose against the yen on Monday after Japan’s top central banker flagged further policy tightening...

Published 18 Nov, 2024 10:03am

Energy

Oil prices tick higher as Russia-Ukraine tensions escalate

LONDON: Oil prices edged up on Monday after fighting between Russia and Ukraine intensified over the weekend,...

Updated 18 Nov, 2024 04:49pm

Companies

Alibaba misses quarterly revenue estimates

SHANGHAI: Alibaba Group Holding missed analysts’ estimates for second-quarter sales on Friday, as persistent...

Published 18 Nov, 2024 02:54am

Industry

PAJCCI concerned at decline in exports to Afghanistan, CIS

KARACHI: Pakistan-Afghanistan Joint Chamber of Commerce and Industry (PAJCCI) President Junaid Makda has expressed...

Published 18 Nov, 2024 02:54am

Prices of essential food items surge

PESHAWAR: A steep increase in prices of vegetable, pulses and cooking oil/ghee and other commodities were witnessed...

Published 18 Nov, 2024 02:54am

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
Petrol/Litre / Nov 23	248.38
Crude Oil USD/Barrel / Nov 23	71.24
Gold Spot USD/Ounce / Nov 23	2,716.19
Diesel/Litre / Nov 23	255.14

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Nov 23 786 Investments Limited(786)	6.82 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Nov 23 Al-Abbas Sugar Mills Limited(AABS)	593.76 ▼ 0.00 (0.00%)
Agro Allianz / Nov 23 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Nov 23 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Nov 23 Ali Asghar Textile Mills Limited(AATM)	70.89 ▼ 0.00 (0.00%)
Allied Bank / Nov 23 Allied Bank Limited(ABL)	120.21 ▼ 0.00 (0.00%)
Abbott Lab. / Nov 23 Abbott Laboratories (Pakistan) Limited(ABOT)	1,023.10 ▼ 0.00 (0.00%)
Abson Ind. / Nov 23 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Nov 23 Alfalah Consumer Index ETF.(ACIETF)	12.55 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Nov 23 786 Investments Limited(786)	6.82 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Nov 23 Al-Abbas Sugar Mills Limited(AABS)	593.76 ▲ 0.00 (0.00%)
Agro Allianz / Nov 23 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Nov 23 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Nov 23 Ali Asghar Textile Mills Limited(AATM)	70.89 ▲ 0.00 (0.00%)
Allied Bank / Nov 23 Allied Bank Limited(ABL)	120.21 ▲ 0.00 (0.00%)
Abbott Lab. / Nov 23 Abbott Laboratories (Pakistan) Limited(ABOT)	1,023.10 ▲ 0.00 (0.00%)
Abson Ind. / Nov 23 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Nov 23 Alfalah Consumer Index ETF.(ACIETF)	12.55 ▲ 0.00 (0.00%)

Stock	Volume
WorldCall Telecom / Nov 23 Worldcall Telecom Limited(WTL)	177,135,830 ▲ 0.00
K-Electric Ltd. / Nov 23 K-Electric Limited(KEL)	124,131,268 ▲ 0.00
Hascol Petrol / Nov 23 Hascol Petroleum Limited(HASCOL)	105,013,176 ▲ 0.00
Fauji Foods Ltd / Nov 23 Fauji Foods Limited(FFL)	77,697,371 ▲ 0.00
Treet Battery / Nov 23 Treet Battery Limited(TBL)	43,783,366 ▲ 0.00
B.O.Punjab / Nov 23 The Bank of Punjab(BOP)	36,573,763 ▲ 0.00
Sui South Gas / Nov 23 Sui Southern Gas Company Limited(SSGC)	32,719,678 ▲ 0.00
PIA Holding Co.Ltd / Nov 23 PIA Holding Company Limited(PIAHCLA)	27,969,689 ▲ 0.00
Cnergyico PK / Nov 23 Cnergyico PK Limited(CNERGY)	25,874,820 ▲ 0.00

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