News Archives for Business & Finance - 2024-11-26

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Business & Finance - 2024-11-26

Stocks

Most Gulf markets end higher; Saudi falls

Most stock markets in the Gulf ended higher on Tuesday, as investors took stock of a potential ceasefire between...

Published 26 Nov, 2024 07:43pm

Middle East

Saudi Arabia agrees metals deals worth over $9 billion

RIYADH: Saudi Arabia on Tuesday agreed nine investment deals in metals and mining worth more than 35 billion riyals...

Published 26 Nov, 2024 07:36pm

South Asia

India’s Andhra Pradesh state likely to suspend Adani power deal

NEW DELHI: India’s Andhra Pradesh state is likely to suspend a power purchase deal linked to Adani Group due to the...

Published 26 Nov, 2024 06:08pm

Stocks

Indian shares end lower, pulled down by Adani firms on implications of US indictment

Indian shares inched lower on Tuesday, weighed down by Adani Group stocks’ on worries about the implications of...

Published 26 Nov, 2024 05:42pm

Bullion Rate

Gold price per tola falls Rs4,100 in Pakistan

Gold prices in Pakistan registered losses for the second consecutive session on Tuesday in line with their decrease...

Updated 26 Nov, 2024 07:46pm

Stocks

Sri Lanka shares end higher as energy, industrials gain

CSE All Share index settled up 0.8% at 12,964.03

Published 26 Nov, 2024 04:50pm

Commodities

Copper slips as Trump releases details of China tariffs

LONDON: Copper prices dropped modestly on Tuesday after incoming U.S. President Donald Trump provided details of...

Published 26 Nov, 2024 04:48pm

Commodities

Palm rises on firmer soyoil prices, expected output decline

KUALA LUMPUR: Malaysian palm oil futures rose for a second consecutive session on Tuesday, supported by firmer rival...

Published 26 Nov, 2024 04:44pm

Exchange

Rupee records marginal fall against US dollar

Currency settles at 277.84 against US dollar in inter-bank market

Updated 26 Nov, 2024 10:49pm

Energy

120MW solar project: KE receives lowest bid from KAPCO

Power utility K-Electric (KE) received the lowest tariff bid from Kot Addu Power Company Limited (KAPCO) for its...

Updated 26 Nov, 2024 07:45pm

Companies

Indus Motor, Ghandhara Tyre temporarily halt production

Amid challenges in the country’s auto sector, including material shortage and operational adjustments, two prominent...

Updated 26 Nov, 2024 08:45pm

Forex

Russia’s weak rouble is helping exporting companies, finance minister says

MOSCOW: Russia’s weak rouble is benefiting exporting companies, offsetting the negative impact of the central bank’s...

Published 26 Nov, 2024 02:27pm

Stocks

Auto stocks lead losses in Europe on Trump’s tariff risk

European shares opened lower on Tuesday, dragged by automakers, as Donald Trump’s tariff threat on the United...

Published 26 Nov, 2024 02:25pm

Stocks

Most Gulf markets gain amid possible Israel-Hezbollah ceasefire

Most major stock markets in the Gulf rose in early trade on Tuesday, as investors took stock of a potential...

Published 26 Nov, 2024 02:23pm

Energy

IEA chief Birol sees ‘comfortable’ oil markets, unless geopolitical shock

OSLO: The supply of oil and gas will be plentiful, with oil markets being “comfortable” this year and next unless...

Published 26 Nov, 2024 02:21pm

Business & Economy

World Bank offers assistance to streamline Pakistan’s budget-making process

The World Bank has offered Pakistani authorities technical assistance to enhance the budget-making process and adopt...

Updated 26 Nov, 2024 10:23pm

Forex

South African rand slips on Trump tariff jitters

JOHANNESBURG: South Africa’s rand slipped on Tuesday as US President-elect Donald Trump’s tariff threat on its...

Published 26 Nov, 2024 01:37pm

Money & Banking

SBP makes key revisions to Minimum Profit Rate requirements, Islamic banking guidelines

In a major development for the banking sector, the State Bank of Pakistan (SBP) on Tuesday announced that the...

Updated 26 Nov, 2024 10:53pm

Forex

China’s yuan slides to four-month low on Trump’s tariff promise

SHANGHAI: The yuan fell against the US dollar to its weakest in nearly four months after US President-elect Donald...

Published 26 Nov, 2024 12:12pm

Stocks

China, HK stocks gain; market had largely expected Trump tariff vows

SHANGHAI: China stocks edged up on Tuesday, while Hong Kong shares bounced from two-month lows earlier in the day as...

Published 26 Nov, 2024 11:54am

Mutual Funds

Philippines raises $254mn from reissued T-bond auction

MANILA: Following are the results of the Philippine Bureau of the Treasury’s (BTr) auction of reissued 2029 T-bonds...

Published 26 Nov, 2024 11:50am

Commodities

Copper falls on firm dollar, Trump’s tariffs plan

Copper prices fell on Tuesday, weighed down by a stronger US dollar and US President-elect Donald Trump’s pledge to...

Published 26 Nov, 2024 11:47am

Fitch puts some Adani bonds on negative watch after US bribery charges

Ratings agency Fitch has put some Adani Group bonds on watch for a possible downgrade after US authorities indicted...

Published 26 Nov, 2024 11:22am

Commodities

Palm climbs on stronger soyoil prices, anticipation of output decline

KUALA LUMPUR: Malaysian palm oil futures rose on Tuesday, mirroring gains in rival soyoil prices and supported by...

Published 26 Nov, 2024 11:16am

Nissan seeks investor to replace some of Renault’s equity holding, FT reports

Nissan Motor is looking for a long-term investor, such as a bank or insurance group, to help it replace some of...

Published 26 Nov, 2024 11:12am

Commodities

Platinum market faces third consecutive deficit in 2025, WPIC says

LONDON: The global platinum market will be in a structural deficit for a third consecutive year in 2025 as mine...

Published 26 Nov, 2024 11:08am

Stocks

Bloodbath at PSX: KSE-100 sees biggest single-day decline, plummets over 3,500 points

Volatility and political tension major themes at PSX as violent protests in federal capital put investors on edge
Index suffers heaviest fall in terms of points

Updated 26 Nov, 2024 08:44pm

Stocks

Most Asian markets drop, dollar gains as Trump fires tariff warning

HONG KONG: Asian markets fell and the dollar rallied Tuesday after Donald Trump warned he would impose huge new...

Published 26 Nov, 2024 10:24am

Thai Oct exports rise 14.6% y/y, above forecast

BANGKOK: Thailand’s customs-cleared exports rose 14.6% in October from a year earlier, the commerce ministry said on...

Published 26 Nov, 2024 10:16am

Commodities

Wheat extends losses on better US crop outlook, firmer dollar

SINGAPORE: Chicago wheat lost more ground on Tuesday as improved US winter crop conditions raised global supply...

Published 26 Nov, 2024 10:12am

Stocks

Auto, battery makers drag South Korean stocks lower on US tariff worries

The benchmark KOSPI was down 15.32 points, or 0.60%, at 2,519.02

Published 26 Nov, 2024 10:11am

Bullion Rate

Gold prices hold steady after Trump’s tariff pledge

Gold prices held steady on Tuesday after a 3% drop in the previous session, supported by increased safe-haven demand...

Published 26 Nov, 2024 10:09am

Stocks

Indian shares set to open little changed; eye on Trump’s fresh tariff vows

Indian shares are set for a muted opening on Tuesday, after gaining nearly 4% over the past two sessions, with an...

Published 26 Nov, 2024 10:06am

Mutual Funds

India bond yields to track US rates; downside largely capped

MUMBAI: Indian bond yields are likely to open little changed on Tuesday following the dip in the previous session,...

Published 26 Nov, 2024 10:04am

Forex

Indian rupee to face headwinds as Trump’s tariff promise boosts dollar

MUMBAI: The Indian rupee will be under pressure on Tuesday after US President-elect Donald Trump pledged to impose...

Published 26 Nov, 2024 10:01am

Stocks

Australian shares skid off record high as commodities drag; inflation data in focus

Australian shares fell on Tuesday after scaling a record high in the previous session, dragged down by commodity and...

Published 26 Nov, 2024 09:47am

Stocks

Japan’s Nikkei stumbles after Trump pledges fresh tariffs

TOKYO: Japan’s Nikkei share average declined on Tuesday as the market reacted to US President-elect Donald Trump’s...

Published 26 Nov, 2024 09:45am

Forex

Dollar gains after Trump vows tariffs against Mexico and Canada

SINGAPORE: The US dollar rose broadly against major rivals on Tuesday after President-elect Donald Trump said he...

Published 26 Nov, 2024 09:39am

Energy

Oil falls after Israel agrees to ceasefire deal with Lebanon

HOUSTON: Oil prices slid on Tuesday, giving back early gains in choppy trade after Israel agreed to a ceasefire deal...

Updated 27 Nov, 2024 12:04am

Industry

PFVA chief made PCSIR Council member

KARACHI: In a notable move, the federal government has appointed Waheed Ahmed, the Patron-in-Chief of the Pakistan...

Published 26 Nov, 2024 07:44am

Capital markets, regulated businesses: SECP continues to maintain effective oversight

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP), through its centralised supervision function,...

Published 26 Nov, 2024 07:40am

‘FBR has authority to conduct post-sanction audits of refund claims’

LAHORE: The Federal Board of Revenue (FBR) has the authority to conduct post-sanction audits of refund claims under...

Published 26 Nov, 2024 07:40am

TotalEnergies says halting new investment in India’s Adani

PARIS: French energy giant TotalEnergies said Monday it was halting new investment linked to Indian conglomerate...

Published 26 Nov, 2024 07:14am

USA

Trump prepares wide-ranging energy plan to boost gas exports, oil drilling

NEW YORK: Donald Trump’s transition team is putting together a wide-ranging energy package to roll out within days...

Published 26 Nov, 2024 07:10am

Companies

DHA City Karachi signs MoU with NUTECH

KARACHI: DHA City Karachi enters into an agreement with National University of Technology (NUTECH) for the...

Published 26 Nov, 2024 06:56am

Industry

FPCCI chief underscores need for ‘new’ Ogra law

KARACHI: Atif Ikram Sheikh, President FPCCI, has demanded that the country needs a new law for its Oil & Gas...