News Archives for Business & Finance - 2024-11-29

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Business & Finance - 2024-11-29

Money & Banking

Bank of England warns of risks from rise in global trade barriers

LONDON: The Bank of England warned on Friday that higher trade barriers could hit global growth and feed uncertainty...

Published 29 Nov, 2024 08:39pm

USA

Trump’s tariffs could cost carmakers up to 17% of combined core profits, S&P says

European and American carmakers are set to lose up to 17% of their combined annual core profits if the U.S. imposes...

Published 29 Nov, 2024 08:34pm

Stocks

Parkin buoys Dubai; Abu Dhabi extends losses

Dubai’s stock market closed higher on Friday, fuelled by a 15% boost in Parkin Company’s shares after the Roads and...

Published 29 Nov, 2024 06:15pm

Financial

India’s FX reserves extend losing streak into eighth week, hit 5-month low

MUMBAI: India’s foreign exchange reserves dropped for an eighth consecutive week and stood at a five-month low of...

Published 29 Nov, 2024 05:17pm

Energy

Global LNG: Asian spot LNG gains as colder weather drives demand

SINGAPORE: Asian spot liquefied natural gas (LNG) prices gained for a third consecutive week to hit a new high for...

Published 29 Nov, 2024 05:14pm

Stocks

Sri Lanka shares end higher, mark third straight monthly gain

CSE All Share index settled 0.19% higher at 13,188.99

Published 29 Nov, 2024 05:10pm

South Asia

India GDP growth slows to 5.4% in September quarter

NEW DELHI: India’s economic growth slowed to 5.4 percent year-on-year in the September quarter, official data showed...

Published 29 Nov, 2024 04:58pm

Companies

Servers crash, data corrupted as cyber-attack hits Dewan Farooque Motors Limited

Dewan Farooque Motors Limited (DFML) said its corporate data “have been corrupted badly” while “IT servers crashed”...

Updated 29 Nov, 2024 10:36pm

Stocks

Reliance, pharma stocks lead Indian shares’ rebound to log weekly gains

India’s benchmark indexes jumped nearly 1% on Friday, recouping a large chunk of their losses from the prior session...

Published 29 Nov, 2024 04:29pm

Commodities

Copper edges up on China optimism but remains set for monthly decline

LONDON: Copper prices were steady on Friday, supported by emerging signals of firmer demand in top metals consumer...

Published 29 Nov, 2024 04:26pm

Commodities

Palm rises for fifth session, logs weekly gain

KUALA LUMPUR: Malaysian palm oil futures rose for a fifth straight session and booked a weekly gain on Friday, amid...

Published 29 Nov, 2024 04:23pm

Commodities

Gold price per tola gains Rs2,100 in Pakistan

After declining in the previous session, gold prices in Pakistan registered gains on Friday in line with their...

Updated 29 Nov, 2024 08:06pm

Hot Wheels, G.I. Joes aplenty on Shein, Temu amid worry over fake products

NEW YORK: Fast-growing specialty e-commerce sites such as PDD’s Temu and its rival Shein are branching deeper into...

Published 29 Nov, 2024 03:57pm

Stocks

Record run continues: KSE-100 crosses 101,000 with nearly 1,300-point gain

Banking, energy stocks drive buying rally

Updated 29 Nov, 2024 08:52pm

Stocks

STOXX 600 muted ahead of inflation data, eyes first monthly gain in three

Europe’s STOXX 600 opened on a muted note on the final day of a turbulent week, with investors assessing France’s...

Published 29 Nov, 2024 01:50pm

Commodities

Global aluminium producers seek Q1 Japan premiums of $230-$260, sources say

TOKYO: Global aluminium producers have offered Japanese buyers premiums of $230-$260 per metric ton for...

Published 29 Nov, 2024 12:43pm

Forex

South African rand firms ahead of key economic data

JOHANNESBURG: South Africa’s rand firmed in early trade on Friday ahead of a day packed with local economic data,...

Published 29 Nov, 2024 12:41pm

Energy

Pakistan Petroleum Limited announces new oil & gas discovery in Sujawal

Pakistan Petroleum Limited (PPL), an oil and gas exploration firm, has made another significant hydrocarbon...

Updated 29 Nov, 2024 08:52pm

Commodities

Palm tracks stronger Dalian oils, set for weekly gain

KUALA LUMPUR: Malaysian palm oil futures rose for a fifth consecutive session and were on track for a weekly gain on...

Published 29 Nov, 2024 11:34am

Australia gives interim approval for Virgin-Qatar Airways alliance

Australia’s competition watchdog said on Friday it had given Virgin Australia and Qatar Airways interim approval to...

Published 29 Nov, 2024 11:01am

Stocks

South Korean shares set to post worst month since Jan on US tariff worries

The benchmark KOSPI dropped 50.90 points, or 2.03%, to 2,453.77

Published 29 Nov, 2024 10:58am

Companies

IGI Holdings warns against fraudulent activities misusing IGI Finex Securities name

IGI Holdings Limited (IGIHL), an investment holding company and part of the Packages Group, has informed its...

Published 29 Nov, 2024 10:58am

Stocks

Asian shares slip, yen aims for best week in 4 months on BOJ hike bets

SYDNEY: Asian shares slipped on Friday while the yen was aiming for its best week in four months as strong local...

Published 29 Nov, 2024 10:54am

Forex

China’s yuan to snap 8-week losing streak; Trump worries linger

SHANGHAI: China’s yuan edged up on Friday against a soft dollar, on track for its first weekly gain in two months...

Published 29 Nov, 2024 10:34am

Stocks

China stocks set for monthly gain on hopes of better Beijing data, fresh stimulus

HONG KONG: Chinese stocks rallied on Friday, and were set for monthly gains, on hopes of factory data this weekend...

Published 29 Nov, 2024 10:33am

Bullion Rate

Gold set for weekly decline; market awaits more US data

Gold traded flat on Friday and was poised for a weekly decline as markets awaited key US economic data, which are...

Published 29 Nov, 2024 10:30am

Stocks

Australian shares decline as financials weigh

Financials dragged Australian shares down on Friday after logging a record high in the previous session, while...

Published 29 Nov, 2024 10:24am

Currency

Rupee stable against US dollar

Currency settles at 278.05 against greenback in inter-bank market

Updated 29 Nov, 2024 10:35pm

Forex

Australia, NZ dollars take stock after telling week for rates

SYDNEY: The Australian and New Zealand dollars were becalmed on Friday as a US holiday drained the market of...

Published 29 Nov, 2024 10:22am

Mutual Funds

India bond yields unchanged before GDP data, debt auction

MUMBAI: Indian government bond yields were largely unchanged in early deals on Friday as market participants awaited...

Published 29 Nov, 2024 10:19am

Stocks

Indian shares set to open higher after steepest decline in two months

Indian shares are expected to open slightly higher on Friday after their steepest drop in nearly two months in the...

Published 29 Nov, 2024 10:17am

Stocks

Japan’s Nikkei falls on stronger yen as investors ponder BOJ rate hike

TOKYO: Japan’s Nikkei share average fell on Friday as the yen strengthened on growing expectations for an interest...

Published 29 Nov, 2024 10:15am

Forex

Yen surges to 150 per dollar amid growing BOJ rate hike bets

TOKYO: The yen jumped as much as 1% to a six-week high at 150 per dollar on Friday, after faster than expected...

Published 29 Nov, 2024 10:10am

Energy

Oil heads for 2% weekly decline as supply risks ease

LONDON: Oil prices were steady on Friday and heading for a weekly drop of more than 2%, pressured by easing concern...

Updated 29 Nov, 2024 08:06pm

Taxes

Immovable properties in Karachi: No cut in values offered in new valuation table

ISLAMABAD: The Federal Board of Revenue’s (FBR) field office has categorically clarified that no reduction in...

Published 29 Nov, 2024 08:15am

Money & Banking

Bank Makramah achieves major milestone as net assets to increase by Rs29.39bn

KARACHI: Bank Makramah Limited (BML) has achieved a major milestone in its journey toward strengthening its capital...

Published 29 Nov, 2024 08:14am

Industry

CCP approves Millat Equipment-Millat Tractors merger

ISLAMABAD: The Competition Commission of Pakistan (CCP) has granted approval for the merger of the Millat Equipment...

Published 29 Nov, 2024 08:12am

Industry

LCCI praises ministry for releasing imported chemicals from ports

LAHORE: The Lahore Chamber of Commerce & Industry has expressed deep appreciation to the Ministry of Energy’s...

Published 29 Nov, 2024 08:10am

Energy

NTDC energises another 250MVA autotransformer

LAHORE: To enhance its power transmission capacity, the National Transmission and Despatch Company (NTDC) has...

Published 29 Nov, 2024 07:33am

Industry

PCMEA requests Jam to grant customs tariff relief

ISLAMABAD: The Pakistan Carpet Manufacturers and Exporters Association (PCMEA) met with Federal Minister for...

Published 29 Nov, 2024 07:30am

Industry

SECP identifies another illegal trading platform operating as ‘IGIL Securities’

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has identified another illegal trading platform...

Published 29 Nov, 2024 07:16am

‘Digital community struggling to maintain their livelihoods’

ISLAMABAD: Five months into widespread internet disruptions, Pakistan’s digital community remains trapped in a web...

Published 29 Nov, 2024 07:07am

Companies

Modernization: Meezan Bank partners with Systems and Temenos

KARACHI: Meezan Bank has partnered with Systems Limited and Temenos to modernize its core banking platform. The...

Published 29 Nov, 2024 07:03am

Over 38m phishing attacks launched during 2024

ISLAMABAD: The cybercriminals launched over 38 million phishing attacks, impersonating major marketplaces, banks, ...

Published 29 Nov, 2024 07:00am

Rates

PSX surpasses 0.1m mark: Investors earn 150pc in just 16 months

KARACHI: Pakistan Stock Exchange has surpassed historic milestone of 100,000 mark, reflecting a 150 percent return ...