News Archives for Business & Finance - 2024-11-19

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Business & Finance - 2024-11-19

Industry

Sugar sector: PM orders crackdown on tax evaders, hoarders

Prime Minister Shehbaz Sharif on Tuesday directed authorities including the Federal Board of Revenue (FBR), Federal...

Updated 19 Nov, 2024 09:24pm

Energy

ECC approves power relief package for winter

Consumers to be charged a flat rate of Rs26.07 per unit for electricity usage above benchmark consumption

Updated 19 Nov, 2024 08:45pm

Stocks

Miners, real estate lead gains in European shares

Europe’s main stock index rose on Tuesday, boosted by strength in shares of miners and a rebound in real estate...

Published 19 Nov, 2024 03:06pm

Forex

Russian rouble little changed, around 100 to US dollar

MOSCOW: The Russian rouble was little changed against all major currencies on Tuesday, with the official exchange...

Published 19 Nov, 2024 03:05pm

Stocks

China, Hong Kong shares rebound on chip gains, strong earnings

HONG KONG: Chinese and Hong Hong stocks ended higher on Tuesday, driven by gains in chip stocks and positive...

Published 19 Nov, 2024 03:00pm

Stocks

Gulf shares up in early trading, Qatar slips

Most stock markets in the Gulf were up in early trade on Tuesday, but Qatar slipped due to losses across most...

Published 19 Nov, 2024 02:56pm

Mutual Funds

Euro zone yields retrace lower; focus on inflation picture

LONDON: Euro zone government bond yields edged lower on Tuesday, retracing some of the previous day’s rise that came...

Published 19 Nov, 2024 01:26pm

Commodities

Gold price per tola increases Rs3,600 in Pakistan

Gold prices in Pakistan went higher on Tuesday in line with their increase in the international rate. In the local...

Updated 19 Nov, 2024 04:07pm

Stocks

South Korean shares flat as market awaits Nvidia earnings

KOSPI gained 3.58 points, or 0.14%, at 2,473.38 as of 0128 GMT

Published 19 Nov, 2024 12:19pm

Statistics

Pakistan’s inflation likely to slow down further in November, signals room for another rate cut

The slowing inflationary trend in Pakistan is likely to continue as the CPI-based figure is expected to fall below...

Updated 19 Nov, 2024 06:16pm

Commodities

Palm rises, tracking Chicago soyoil; market eyes key export data

KUALA LUMPUR: Malaysian palm oil futures rose on Tuesday, supported by gains in Chicago soyoil, while traders...

Published 19 Nov, 2024 12:07pm

Forex

Australia, NZ dollars get rare bounce, RBA in no rush to ease

SYDNEY: The Australian and New Zealand dollars clung to rare gains on Tuesday as commodities pared a little of their...

Published 19 Nov, 2024 12:05pm

Forex

Yuan steadies at 3-1/2-mth low on firmer-than-expected fix, tighter offshore conditions

SHANGHAI: China’s yuan managed to steady at a 3-1/2-month low against the dollar on Tuesday, as signs of tighter...

Published 19 Nov, 2024 11:35am

Commodities

Copper inches higher as dollar rally pauses; China demand woes weigh

Copper prices drifted higher on Tuesday as the dollar rally took a breather, although concerns over China demand and...

Published 19 Nov, 2024 11:03am

Stocks

KSE-100 jumps 861 points to close above 95,000 for the first time

Stocks rose again as the market extended a buying spree that has pushed the benchmark KSE-100 to a series of record...

Updated 19 Nov, 2024 10:59pm

Commodities

Wheat gains for third session on fears of escalation in Russia-Ukraine war

BEIJING: Chicago wheat futures rose on Tuesday for a third session in a row, supported by concerns of an escalating...

Published 19 Nov, 2024 10:59am

Bullion Rate

Gold hits one-week high on softer dollar; markets await Fed cues

Gold prices climbed to a one-week high on Tuesday, buoyed by a softer US dollar, while the market awaited comments...

Published 19 Nov, 2024 10:56am

Stocks

Gold and energy stocks lead Australian shares higher; RBA minutes in focus

Australian shares rose to a four-week high on Tuesday, led by gold and energy stocks, while investors awaited...

Published 19 Nov, 2024 10:54am

Stocks

Singapore shares hit 17-year high on market revival efforts

Singapore shares jumped to a 17-year high on Tuesday, powered by a rally in index heavyweight financials, as the...

Published 19 Nov, 2024 10:40am

Energy

Bangladesh’s RPGCL seeks LNG cargo for Dec delivery

SINGAPORE: Bangladesh’s Rupantarita Prakritik Gas Co Ltd (RPGCL) is seeking a liquefied natural gas (LNG) cargo for...

Published 19 Nov, 2024 10:36am

Alibaba delivers initial price guidance on $5 billion dual-currency bond, term sheet shows

SYDNEY: Alibaba Group has delivered investors initial price guidance on its $5 billion dual currency bond, according...

Published 19 Nov, 2024 10:28am

Stocks

Asian stocks rise, dollar weak as US yields tick down

TOKYO: Asian stocks rose on Tuesday while US bond yields and the dollar hung back from multi-month highs as traders...

Published 19 Nov, 2024 10:26am

Exchange

Rupee records marginal decline against US dollar

Currency settles at 277.95 against greenback in inter-bank market

Updated 19 Nov, 2024 11:01pm

Mutual Funds

Indian bond yields seen flattish as hunt for triggers continues

MUMBAI: Indian government bond yields are expected to trade largely unchanged on Tuesday ahead of a holiday and as...

Published 19 Nov, 2024 10:16am

Stocks

Indian shares set to open higher

Indian shares are expected to open higher on Tuesday, with analysts anticipating a rebound after the Nifty 50 posted...

Published 19 Nov, 2024 10:13am

Forex

Dollar rally stalls, giving yen respite

SINGAPORE: The yen got some much-needed respite on Tuesday as it steadied on the stronger side of 155 per dollar...

Published 19 Nov, 2024 10:11am

Energy

Oil steadies as Sverdrup field restart counters geopolitical concerns

LONDON: Oil prices steadied on Tuesday as the restart of production at Norway’s Johan Sverdrup oilfield offset...

Updated 19 Nov, 2024 08:11pm

Forex

Indian rupee flat; importer, foreign banks’ dollar bids offset gains in Asia FX

MUMBAI: The Indian rupee was nearly unchanged on Tuesday as dollar demand from foreign banks and importers offset...

Published 19 Nov, 2024 10:03am

Industry

LCCI opposes early closure curbs on restaurants

LAHORE: Restaurant industry is facing collapse due to early closure restrictions. 4 pm closure time is against the...

Published 19 Nov, 2024 08:30am

Industry

Cotton initiatives: Primark, APTMA discuss collaboration opportunities

LAHORE: Primark and APTMA have discussed potential collaboration opportunities on sustainable cotton initiatives....

Published 19 Nov, 2024 08:24am

Industry

Financial sector sees sharp increase in cyber threats during 2024

ISLAMABAD: The financial sector in Pakistan saw a sharp increase in cyber threats during 2024, according to the...

Published 19 Nov, 2024 08:19am

Companies

Digital transaction insurance: TPL Insurance partners with Samba Bank

KARACHI: TPL Insurance Ltd announced its collaboration with Samba Bank Limited to offer innovative digital...

Published 19 Nov, 2024 08:18am

Companies

Emirates Group posts profit before tax of AED10.4bn for 1HFY24-25

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

Published 19 Nov, 2024 08:14am

Stocks

Vanguard sells $66m worth of stocks in Oct

KARACHI: The FTSE benchmarked fund, Vanguard, has sold approximately $66 million worth of stocks in October 2024,...

Published 19 Nov, 2024 08:10am

Industry

PSATF delegation calls on TDAP chairman

KARACHI: The PSATF delegation led by its chairman Muhammad Rafiq Memon had a productive meeting with Zubair ...

Published 19 Nov, 2024 08:07am

Climate change: $500m loan inked with ADB

ISLAMABAD: The Asian Development Bank (ADB) and the government of Pakistan, on Monday, signed $500 million...

Published 19 Nov, 2024 07:57am

Industry

Governor seeks enhanced trade ties with Spain

LAHORE: Punjab Governor Sardar Saleem Haider Khan has expressed hope that trade between Pakistan and Spain will...

Published 19 Nov, 2024 07:51am

Industry

Minister participates in Hong Kong Global Maritime Trade Summit 2024

KARACHI: Qaiser Ahmed Shaikh, Pakistan's Federal Minister for Maritime Affairs, attended the prestigious Hong Kong...

Published 19 Nov, 2024 07:39am

Industry

Different categories of firms: SECP considerably raises fee for documents’ submission

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) Monday considerably increased fee for ...

Published 19 Nov, 2024 07:35am

SMEDA reaffirms dedication to uplifting women entrepreneurs

LAHORE: In celebration of Women Entrepreneurship Day, Small and Medium Enterprises Development Authority (SMEDA), ...

Published 19 Nov, 2024 07:33am

Companies

BYD achieves significant milestone

KARACHI: BYD, the world’s leading manufacturer of new energy vehicles (NEVs) and power batteries, marked a...

Published 19 Nov, 2024 06:35am

PSDP: MoF approves Rs1.1trn against Rs2.9trn demand

ISLAMABAD: Ministry of Finance approved Rs1.1 trillion development budget under the Public Sector Development...

Published 19 Nov, 2024 06:35am

FD decides to hire ‘consultant external debt’

ISLAMABAD: The Finance Division has decided to hire ‘consultant external debt’ to carry out external debt portfolio...

Updated 19 Nov, 2024 08:55am

Bilateral trade with US exceeds $6.5bn: minister

ISLAMABAD: The United States’ bilateral trade with Pakistan exceeded US$6.5 billion in 2023, Federal Minister for...

Published 19 Nov, 2024 06:34am

Aurangzeb lauds ADB’s financial, technical aid

ISLAMABAD: A delegation of the Asian Development Bank (ADB) led by Senior Director, Tariq H. Niazi called on Federal...

Updated 19 Nov, 2024 09:27am

CCP okays acquisition of 50pc shareholding in TPPL by Aquashore SA

ISLAMABAD: The Competition Commission of Pakistan (CCP) has granted approval for the acquisition of 50 percent...

Published 19 Nov, 2024 06:34am

Taxes

SDPI holds seminar: Speakers highlight need for robust tobacco tax policy

ISLAMABAD: Speakers at a seminar on Monday expressed serious concern that the absence of taxation on smokeless...

Published 19 Nov, 2024 06:34am

Jul-Oct IT, ITeS exports up 35pc to $1.206bn YoY

ISLAMABAD: The country’s information technology and IT-enabled services (ITeS) exports remittances comprising...

Published 19 Nov, 2024 06:34am

Jul-Oct FDI up 32pc to $904.3m YoY

KARACHI: Foreign Direct Investment (FDI) in Pakistan surged by 32 percent during the first four months of the ...

Published 19 Nov, 2024 06:34am

Jul-Oct: C/A posts $218m surplus on foreign inflows

KARACHI: The country’s current account balance posted a surplus of $218 million in the first four months of FY25,...

Published 19 Nov, 2024 06:34am

$500m ICBC loan FD’s date error corrected by Cabinet

ISLAMABAD: The Federal Cabinet has corrected an error made by the Finance Division regarding the date of the $500...

Published 19 Nov, 2024 06:34am

Boeing announces almost 2,200 layoffs

NEW YORK: The US aviation giant Boeing sent out its first redundancy notifications on Monday as part of a previously...

Published 19 Nov, 2024 06:34am

Shareholders inject $10m equity investment into TMB

KARACHI: Telenor Microfinance Bank (TMB) has received $10 million in equity investment from its shareholders, ...

Published 19 Nov, 2024 06:34am

Money & Banking

Indian rupee holds ground against dollar

MUMBAI: The Indian rupee ended nearly unchanged on Monday, supported by the central bank’s market intervention as...

Published 19 Nov, 2024 06:34am

Money & Banking

Dollar strengthens against yen

NEW YORK: The dollar advanced against the yen on Monday to resume its recent upward trend after Japan’s top ...

Published 19 Nov, 2024 06:34am

SECP inaugurates ICMDC to promote Islamic capital market

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) held the inaugural meeting of its...

Updated 19 Nov, 2024 07:34am

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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