News Archives for Business & Finance - 2024-11-22

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Business & Finance - 2024-11-22

South Asia

Adani Group could find funding harder after US indictment as banks review credit

Gautam Adani’s conglomerate could find it harder to get funding following a U.S. arrest warrant for its billionaire...

Published 22 Nov, 2024 09:55pm

South Asia

Adani’s US woes put TotalEnergies on the spot

LONDON: Patrick Pouyanné is used to coping with tricky circumstances in emerging markets. The TotalEnergies CEO was...

Published 22 Nov, 2024 09:49pm

Stocks

S&P 500, Dow touch over one-week highs after business activity data

The S&P 500 and the Dow touched over one-week highs on Friday after data showed a still robust economy, while...

Published 22 Nov, 2024 09:10pm

Commodities

Global LNG: Asian spot LNG gains amid colder weather, stronger Europe gas prices

SINGAPORE: Asian spot liquefied natural gas (LNG) prices rose this week to their highest level of the year so far,...

Published 22 Nov, 2024 05:26pm

Money & Banking

India’s forex reserves see sharpest weekly drop on record, hit over four-month low

MUMBAI: India’s foreign exchange reserves logged their sharpest weekly fall on record to a more-than-four-month low...

Published 22 Nov, 2024 05:14pm

Stocks

Indian shares post best session since early June, snap two-week losing streak

Indian shares posted their best session since early June on Friday, snapping a two-week losing streak, as easing...

Published 22 Nov, 2024 05:06pm

Stocks

Sri Lankan shares end higher as real estate, healthcare gain

CSE All Share index settled 0.56% higher at 13,054.27

Published 22 Nov, 2024 05:03pm

Commodities

Copper, aluminium under pressure from weak euro zone PMI

LONDON: Prices for copper and aluminium fell in London on Friday as data showing a tumble in euro zone business...

Published 22 Nov, 2024 05:01pm

Commodities

Palm oil suffers worst week in 19 months with 8% drop

KUALA LUMPUR: Malaysian palm oil futures closed lower on Friday to log their sharpest weekly fall in more than a...

Published 22 Nov, 2024 04:59pm

Companies

Honda Atlas Cars’ profit-after-tax down 62% YoY in Jul-Sep

Despite an increase in sales, the profit-after-tax (PAT) of Honda Atlas Cars (Pakistan) Limited (HCAR) declined...

Updated 22 Nov, 2024 10:50pm

Indian banks’ credit risk from Adani exposure seems contained, JPMorgan says

MUMBAI/BENGALURU: Indian banks’ loan exposure to the embattled Adani Group seems “manageable” and any credit risk in...

Published 22 Nov, 2024 02:48pm

Stocks

STOXX 600 opens higher on tech boost, set for weekly gains

Tech shares led gains in Europe on Friday, with the benchmark stock index hitting a one-week high and on track for...

Published 22 Nov, 2024 02:38pm

Companies

Diamond Paints wins two awards at Corporate Philanthropy Awards 2024

Diamond Paints, Pakistan’s leading paint brand, garnered two esteemed accolades at the Corporate Philanthropy Awards...

Published 22 Nov, 2024 02:37pm

Currency

Bitcoin at record highs, sets sights on $100,000

LONDON: Bitcoin touched a fresh record high on Friday, with its sights set firmly on the $100,000 barrier, in a...

Updated 22 Nov, 2024 07:58pm

Bullion Rate

Gold price per tola increases Rs2,500 in Pakistan

Gold prices in Pakistan rose on Friday in line with their increase in the international rates. In the local market,...

Updated 22 Nov, 2024 08:08pm

Forex

Kenyan shilling stable; central bank dollar sale helps

NAIROBI: The Kenyan shilling was stable on Friday, and traders said that central bank selling dollars earlier this...

Published 22 Nov, 2024 12:42pm

Stocks

South Korean shares post best week for three months on shareholder return pledges

KOSPI closed up 20.61 points, or 0.83%, at 2,501.24

Published 22 Nov, 2024 12:40pm

Forex

South African rand slips as dollar climbs on global markets

JOHANNESBURG: The South African rand slipped slightly in early trade on Friday, as the dollar climbed to a fresh...

Published 22 Nov, 2024 12:29pm

Energy

Consortium withdraws bid to acquire majority stake in Engro Powergen Qadirpur

A consortium comprising textile companies has withdrawn its public announcement of intention (PAI) to acquire a...

Updated 22 Nov, 2024 11:02pm

‘Bribe notes’ with per megawatt rates: filings detail Sagar Adani’s role in Indian scandal

A U.S. indictment of top executives of India’s Adani Group has put a spotlight on Sagar Adani, a millennial scion of...

Published 22 Nov, 2024 12:07pm

Industry

$25bn IT export target: PM presented comprehensive plan

Prime Minister Shehbaz Sharif was presented with a comprehensive plan to boost Pakistan’s IT exports to $25 billion...

Updated 22 Nov, 2024 10:50pm

Commodities

Palm set for second weekly drop on weak soybean, demand concerns

KUALA LUMPUR: Malaysian palm oil futures slipped on Friday and were headed for a second week of losses, weighed down...

Published 22 Nov, 2024 11:32am

S&P lowers outlook on three Adani units after US indictment of founder

S&P Global Ratings lowered its outlook on three Adani Group entities to ‘negative’ from ‘stable’ on Friday,...

Published 22 Nov, 2024 11:09am

Stocks

China, Hong Kong stocks drop as disappointing corporate earnings weigh

HONG KONG: China and Hong Kong stocks fell on Friday, as investors remained cautious amid US President-elect Donald...

Published 22 Nov, 2024 11:04am

Mutual Funds

India bond yields seen rising ahead of debt supply

MUMBAI: Indian government bond yields are expected to rise on Friday ahead of a fresh supply of debt through the...

Published 22 Nov, 2024 10:53am

India rupee hits record low as dollar resumes climb, portfolio outflows persist

MUMBAI: The rupee hit an all-time low on Friday as the dollar’s post-US election rally gathered steam again, while...

Published 22 Nov, 2024 10:51am

Stocks

Indian shares set to open higher; Adani stocks remain in focus

Indian shares are set to open marginally higher on Friday, after slipping to five-month lows in the previous...

Published 22 Nov, 2024 10:46am

Exchange

Rupee records marginal gain against US dollar

Currency settles at 277.76 against greenback in inter-bank market

Updated 22 Nov, 2024 09:09pm

Commodities

Chicago wheat set for 6% weekly rise on Black Sea supply worries

BEIJING: Chicago wheat firmed on Friday, poised for a more than 6% weekly gain, as Russia launched a hypersonic...

Published 22 Nov, 2024 10:21am

Forex

Australia dollar hits 7-week high on euro, 4-month top on kiwi

SYDNEY: The Australian dollar hit a seven-week high on the euro on Friday as the single currency dived amid an...

Published 22 Nov, 2024 10:19am

Stocks

Australian shares rise on mining boost; NZ hits 1-month high

Australian shares rose on Friday after two straight sessions of losses, as index heavyweight miners gained on strong...

Published 22 Nov, 2024 10:15am

Stocks

Japan’s Nikkei rises as chip-related shares track Nvidia higher

TOKYO: Japan’s Nikkei share average rose on Friday after two straight sessions of falls, as chip-related stocks...

Published 22 Nov, 2024 10:13am

Bullion Rate

Gold marches towards best week in a year amid escalating Russia-Ukraine conflict

Gold prices were headed for their best week in a year on Friday, supported by safe-haven demand amid further...

Published 22 Nov, 2024 10:11am

Stocks

Banking sector saves the day as profit-taking erases intra-day gains, KSE-100 closes below 98,000

Index had earlier hit a high of 99,623.03 during trading

Updated 22 Nov, 2024 09:17pm

Stocks

Most Asian markets track Wall St gains, bitcoin closes on $100,000

HONG KONG: Most Asian markets gained Friday after a bounce on Wall Street, while bitcoin continued its march higher...

Published 22 Nov, 2024 10:04am

Forex

Dollar hugs 13-month peak as market awaits next Fed cue

TOKYO: The US dollar stuck close to a 13-month high on Friday as investors assessed the outlook for the Federal...

Published 22 Nov, 2024 09:54am

Energy

Oil prices climb 1% to two-week high as Ukraine war intensifies

Oil prices climbed about 1% to a two-week high on Friday as the intensifying war in Ukraine this week boosted the...

Updated 23 Nov, 2024 12:35am

NA panel commends IMC’s localisation drive

KARACHI: The National Assembly’s Standing Committee on Industries and Production, led by Chairman Syed Hafeezuddin,...

Updated 22 Nov, 2024 09:08am

Forex reserves on the rise

KARACHI: The State Bank of Pakistan’s (SBP) foreign reserves continued to rise, increasing by $29.4 million over the...