News Archives for Business & Finance - 2024-12-02

<<>>

Business & Finance - 2024-12-02

Ban on Chinese salt import: govt to file review petition against SC decision

The government has decided to file a review petition against a 2018 Supreme Court (SC) decision banning monosodium...

Updated 02 Dec, 2024 10:26pm

South Asia

Bangladesh halves power buying from India’s Adani amid payment dispute

DHAKA: Bangladesh has halved the power it buys from neighbouring India’s Adani Power, citing lower winter demand,...

Published 02 Dec, 2024 08:05pm

Stocks

Most Gulf markets end flat on regional tensions

Most stock markets in the Gulf finished flat on Monday amid tensions in the Middle East as Israel resumed attacks on...

Published 02 Dec, 2024 06:33pm

Dredging works: Amid complaints of ‘favouritism’, KPT says contract not awarded yet

Port Trust says Dutch maritime firm Van Oord has earned highest score in technical eligibility aspect

Published 02 Dec, 2024 06:32pm

Stocks

Sri Lankan shares ends higher as healthcare, energy stocks gain

CSE All Share index settled 0.3% higher at 13,228.92

Published 02 Dec, 2024 05:49pm

South Asia

Latest US strike on China’s chips hits semiconductor toolmakers

The US will launch on Monday its third crackdown in three years on China’s semiconductor industry, curbing exports...

Published 02 Dec, 2024 04:58pm

Stocks

Reliance leads rise in Indian shares; growth slowdown factored in

Indian shares closed higher on Monday, led by gains in heavyweights such as Reliance Industries, as the recent...

Published 02 Dec, 2024 04:41pm

Commodities

Higher dollar sparks copper’s sell-off to 2-1/2-week low

LONDON: Copper prices slipped to 2-1/2-week lows on Monday as a stronger U.S. dollar triggered a sell-off despite...

Published 02 Dec, 2024 04:39pm

Commodities

Palm snaps five-day rally, dragged down by weak soyoil

JAKARTA: Malaysian palm oil futures fell on Monday, snapping a run of five consecutive sessions of gain, dragged...

Published 02 Dec, 2024 04:34pm

Business & Economy

Finance ministry expects another policy rate cut as inflation comes down

Monetary Policy Committee meeting of the State Bank of Pakistan is scheduled to take place on Monday, December 16

Updated 02 Dec, 2024 10:12pm

Seven MoUs signed with Saudi Arabia converted into $560mn contracts

Pakistan said on Monday that out of the 34 Memorandum of Understandings (MoUs) signed with Saudi Arabia, seven worth...

Updated 02 Dec, 2024 10:01pm

Forex

Russian rouble stable vs major currencies after period of volatility

MOSCOW: The rouble weakened slightly against the US dollar on Monday but remained largely stable after a period of...

Published 02 Dec, 2024 03:32pm

Energy

QatarEnergy signs long-term LNG deal with Shell for delivery to China

SINGAPORE: State-owned QatarEnergy has signed a long-term sales and purchase agreement with oil and gas major Shell...

Published 02 Dec, 2024 03:29pm

Commodities

Gold price per tola decreases Rs1,700 in Pakistan

Gold prices in Pakistan registered another decline on Monday in line with their decrease in the international rate....

Updated 02 Dec, 2024 07:48pm

Energy

Saudi Aramco holds Dec LPG OSPs steady, Sonatrach cuts by 2-3%

MOSCOW: Oil producer Saudi Aramco left its December official selling prices (OSPs) for liquefied petroleum gas (LPG)...

Published 02 Dec, 2024 03:27pm

Commodities

Ivory Coast 2024/25 cocoa arrivals up 34% as of Dec. 1

ABIDJAN: Cocoa arrivals at ports in top grower Ivory Coast had reached 735,000 metric tons by Dec. 1 since the start...

Published 02 Dec, 2024 01:55pm

Stocks

Saudi market falls on regional geopolitics; Qatar flat

Saudi Arabia’s stock market eased in early trade on Monday amid tensions in the Middle East as Israel resumed...

Published 02 Dec, 2024 01:54pm

Forex

Kenyan shilling steady as tourism FX inflows match demand

NAIROBI: The Kenyan shilling was steady on Monday as dollar supplies from the tourism sector matched local demand...

Published 02 Dec, 2024 01:52pm

Stocks

France’s CAC 40 drops 1% on political woes, Stellantis slides after CEO exit

Europe’s main stocks index opened lower on Monday, with France’s benchmark CAC 40 dropping more than 1% due to the...

Published 02 Dec, 2024 01:51pm

Business & Economy

Lowest since May 2018: inflation in Pakistan clocks in at 4.9% in November 2024

Reading also below official expectations

Updated 02 Dec, 2024 10:30pm

Forex

ACE Money Transfer: fintech recognised by SBP for remittance volume to Pakistan

ACE Money Transfer, a global leader in the remittance industry, has been recognised by the State Bank of Pakistan...

Published 02 Dec, 2024 01:29pm

Bullion Rate

Gold falls on firmer US dollar, profit-taking; key US data in focus

Gold prices snapped a four-session rally to fall on Monday, pressured by a firmer US dollar and profit-taking, while...

Published 02 Dec, 2024 12:18pm

Forex

Thai baht weaker vs US dollar at 0220 GMT

BANGKOK: The Thai baht dropped in morning trade on Monday due to the strengthening of the dollar and falling gold...

Published 02 Dec, 2024 12:16pm

Stocks

South Korean stocks climb on regulator’s plan to protect minority shareholders

The benchmark KOSPI was up 3.00 points, or 0.12%, at 2,458.91

Published 02 Dec, 2024 11:52am

Commodities

Palm snaps five-day rally, dragged down by weak soyoil

JAKARTA: Malaysian palm oil futures fell on Monday, snapping five consecutive sessions of gain, dragged down by...

Published 02 Dec, 2024 11:44am

Stocks

Asia stocks rise after Wall Street records; dollar rebounds

TOKYO: Asian stocks climbed on Monday, buoyed by record high closes on Wall Street, while the dollar bounced back...

Published 02 Dec, 2024 11:42am

Commodities

Iron ore climbs on upbeat China data, but falling demand caps gains

BEIJING: Iron ore futures gained on Monday, supported by upbeat factory data in top consumer China, but signs of...

Published 02 Dec, 2024 11:40am

Commodities

Copper declines on firmer US dollar

NEW DELHI: Copper prices eased on Monday, pressured by a stronger US dollar, shrugging off signals of optimism in...

Published 02 Dec, 2024 11:27am

Indonesia’s headline inflation eases to 1.55% in Nov

JAKARTA: Indonesia’s annual inflation rate was 1.55% in November, official data showed on Monday, easing from 1.71%...

Published 02 Dec, 2024 11:25am

Nine Volkswagen plants to strike as labour battle escalates

BERLIN: Workers at nine Volkswagen car and component plants across Germany will strike for several hours on Monday,...

Published 02 Dec, 2024 11:10am

India factory growth softened in November on high inflationary pressures, PMI shows

BENGALURU: India’s factory growth cooled in November yet maintained a strong pace, leading to significantly improved...

Published 02 Dec, 2024 11:08am

Stocks

China, Hong Kong stocks climb on upbeat manufacturing data, stimulus bets

HONG KONG: China and Hong Kong stocks gained on Monday, driven by encouraging manufacturing data and expectations of...

Published 02 Dec, 2024 11:02am

Forex

China’s yuan slides to 4-month low on tariff threats and mixed PMI data

SHANGHAI: The yuan fell to a four-month low on Monday, as tariff threats and mixed purchasing managers’ index (PMI)...

Published 02 Dec, 2024 10:53am

Commodities

Wheat falls on supply pressure, but Russian export curbs limit losses

SINGAPORE: Chicago wheat slid for a third session on Monday, pressured by freshly harvested crops in the southern...

Published 02 Dec, 2024 10:51am

Mutual Funds

China 10-year treasury yield drops under 2%, marks lowest level in 22 years

SHANGHAI: China’s 10-year treasury yield fell below the key 2% level on Monday, marking its weakest point in 22...

Published 02 Dec, 2024 10:48am

Forex

Australia, NZ dollars start new month on back foot as yuan slides

SYDNEY: The Australian and New Zealand dollars started December on a downbeat note after two straight months of...

Published 02 Dec, 2024 10:46am

Stocks

Japan’s Nikkei makes U-turn to eke out gains as bank shares rise

TOKYO: Japan’s Nikkei share average reversed course to trade marginally higher on Monday, as gains in financial...

Published 02 Dec, 2024 10:44am

Stocks

Miners lift Australian shares as iron ore prices soar; De Grey jumps on Northern Star’s bid

Australian shares rose on Monday, led by miners on the back of strong iron ore prices, while De Grey Mining surged...

Published 02 Dec, 2024 10:41am

Stocks

Another record high: KSE-100 settles above 103,000 with 1,900-point gain

Investors anticipate another rate cut amid lower inflation reading for November

Updated 02 Dec, 2024 09:39pm

Forex

Indian rupee poised for all-time low on disappointing growth, drop in Asian peers

MUMBAI: The Indian rupee is likely to weaken past 84.50 per US dollar to an all-time low on Monday due to further...

Published 02 Dec, 2024 10:35am

Mutual Funds

Indian bond yields seen inching lower after sharp slowdown in economic growth

MUMBAI: Indian government bond yields are expected to trend lower on Monday following weaker-than-expected economic...

Published 02 Dec, 2024 10:33am

Stocks

Indian shares set to open higher; RBI policy in focus after growth slowdown

Indian shares are expected to open higher on Monday, tracking their Asian peers, although worries about domestic...

Published 02 Dec, 2024 10:31am

Forex

Dollar edges higher amid rate, political uncertainty

SYDNEY: The dollar crept higher on Monday in what is shaping up to be a critical week for the prospect of US rate...

Published 02 Dec, 2024 10:20am

Energy

Oil rises on Chinese data, Middle East tensions

HOUSTON: Oil prices rose on Monday, as strong factory activity in China buoyed hopes of higher demand, and as...

Updated 02 Dec, 2024 09:32pm

Currency

Rupee registers marginal improvement against US dollar

Currency settles at 277.97 against the US dollar in inter-bank market

Updated 02 Dec, 2024 10:03pm

Cotton & Textile

Weekly Cotton Review: Prices continue to fall amid low trade volumes

KARACHI: In local market, prices of cotton continued to decline. Trading volumes also remained relatively low....

Published 02 Dec, 2024 06:50am

Industry

HCSTSI chief underscores need for reforms in agri sector

HYDERABAD: The President of Hyderabad Chamber of Small Traders & Small Industry (HCSTSI), Muhammad Saleem Memon,...

Published 02 Dec, 2024 06:48am

Trump warns BRICS nations against replacing US dollar

WASHINGTON: President-elect Donald Trump on Monday threatened to impose a 100 percent tariff on the BRICS group...