News Archives for Business & Finance - 2024-12-06

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Business & Finance - 2024-12-06

Companies

$563mn deal: Engro Corp to acquire mobile phone towers from Jazz

Engro Corporation, one of the leading conglomerates in Pakistan, has announced to acquire a mobile phone towers...

Updated 06 Dec, 2024 10:38pm

Business & Economy

Pakistan’s PIA to resume flights to Europe on Jan. 10 after 4-1/2 year ban

PIA's authorisation to operate in EU was suspended in June 2020 over concerns about ability of Pakistani authorities and its Civil Aviation Authority to ensure compliance with international aviation standards

Updated 06 Dec, 2024 10:27pm

Energy

Global LNG: Asian spot LNG remains near highest level this year

Pakistan’s deferment of some Qatari LNG cargoes from 2025 to 2026 marks second occasion in a month in which a country bought more LNG beforehand but in the end will consume less, says Klaas Dozeman, market analyst at Brainchild Commodity Intelligence

Updated 06 Dec, 2024 10:19pm

Commodities

Gold price per tola falls Rs1,000 in Pakistan

Gold prices in Pakistan decreased on Friday in line with their decline in the international rate. In the local...

Updated 06 Dec, 2024 10:05pm

Stocks

UAE stocks mixed as investors eye US payrolls data

Stock markets in the United Arab Emirates closed mixed on Friday amid weakening oil prices and Fed rate cut bets as...

Published 06 Dec, 2024 07:16pm

Middle East

UAE’s Mubadala to address under-investment in Asia, CEO says

ABU DHABI: Abu Dhabi’s Mubadala Investment Company is under-invested in Asia and the geography will be a focus area...

Published 06 Dec, 2024 05:15pm

Forex

India’s fx reserves halt eight-week losing streak, come off 5-month lows

MUMBAI: India’s foreign exchange reserves rose for the first time in nine weeks and stood at $658.09 billion as of...

Published 06 Dec, 2024 05:06pm

Stocks

Sri Lankan shares end higher, boosted by consumer staples, industrials

CSE All-Share index settled up 0.40% at 13,613.37

Published 06 Dec, 2024 04:55pm

Stocks

Indian benchmarks log best week in 6 months as cenbank boosts liquidity

Indian benchmark indexes logged their best week since June on Friday, led mainly by financials as the central bank...

Published 06 Dec, 2024 04:33pm

Commodities

Copper hits three-week high on supply concerns, falling inventories

LONDON: Copper prices touched a three-week high on Friday, boosted by declines in Chinese inventories and concerns...

Published 06 Dec, 2024 04:31pm

Commodities

Palm oil falls as weather improves in Malaysia; gains for a second week

JAKARTA: Malaysian palm oil futures declined on Friday on easing supply concerns, as weather improved in the world’s...

Published 06 Dec, 2024 04:29pm

Energy

IPP deals: Saif Power approves revised agreements with govt

Saif Power Limited (SPWL), an Independent Power Producer (IPP), has approved implementing amended agreements with...

Updated 06 Dec, 2024 09:15pm

Stocks

European stocks little changed ahead of US payrolls data

European shares were little changed on Friday ahead of US payrolls data that could sway expectations around the...

Published 06 Dec, 2024 03:40pm

Forex

Rouble rebounds past 100 mark vs US dollar after Putin’s decree on rouble payments for gas

MOSCOW: The Russian rouble rebounded past 100 to the US dollar, trading at 99.90 on Friday, after President Vladimir...

Published 06 Dec, 2024 02:25pm

Stocks

South Korean stocks log second weekly decline as parliament discusses President’s impeachment

The benchmark KOSPI was down 13.69 points, or 0.56%, at 2,428.16 as of 06:32 GMT

Published 06 Dec, 2024 12:41pm

German carmakers vow to preserve jobs in Hungary factories, Hungary PM Orban says

BUDAPEST: Hungary needs to create a competitive economic environment so that no factories would be closed down in...

Published 06 Dec, 2024 12:37pm

India central bank holds rates despite growth dip

MUMBAI: India’s central bank left interest rates unchanged Friday after judging inflation risks to outweighed...

Published 06 Dec, 2024 11:59am

UK employers cut growth forecasts as tax hikes weigh on economy

LONDON: One of Britain’s leading employers’ groups on Friday cut its estimate for economic growth next year due to...

Published 06 Dec, 2024 11:38am

Currency

Rupee registers marginal decline against US dollar

Currency settles at 278.01 against greenback in inter-bank market

Updated 06 Dec, 2024 10:11pm

Forex

Thai baht stronger vs US dollar at 0220 GMT

BANGKOK: The Thai baht gained in morning trade on Friday as the dollar weakened due to a rebound in the euro. The...

Published 06 Dec, 2024 11:18am

Commodities

Copper prices head for weekly gains; traders await China stimulus cues

Copper prices ticked up on Friday and were headed for weekly gains in the wake of a subdued U.S dollar, while...

Published 06 Dec, 2024 11:02am

Energy

UAE non-oil business activity growth holds steady in November, PMI shows

ABU DHABI: Growth in the United Arab Emirates’ non-oil private sector activity held steady in November, while...

Published 06 Dec, 2024 10:52am

World Bank wins pledges for $100bn replenishment of fund for poorest countries

WASHINGTON: Donor countries have pledged a record $100 billion three-year replenishment of the World Bank’s fund for...

Published 06 Dec, 2024 10:48am

Commodities

Vietnam Jan-Nov coffee exports down 14.3% y/y at 1.2mn T- stats office

HANOI: Vietnam exported 1.2 million metric tons of coffee in the Jan-Nov period of this year, down 14.3% from the...

Published 06 Dec, 2024 10:27am

Commodities

Vietnam rice exports in Nov up 16.3% y/y, statistics office says

HANOI: Vietnam exported 698,000 metric tons of rice in November, up 16.3% from the same month a year earlier,...

Published 06 Dec, 2024 10:25am

Stocks

Record run continues as KSE-100 surges past 109,000 after 815-point gain

Benchmark has been on upward trajectory for past many weeks as sentiment improves on Pakistan's economic stability

Updated 06 Dec, 2024 10:09pm

Stocks

Asian shares slip on South Korea risk, dollar on guard ahead of payrolls

SYDNEY: Asian stocks slipped on Friday on political ructions in South Korea, while dollar bulls waited anxiously to...

Published 06 Dec, 2024 10:24am

Forex

Yuan headed for 10th weekly drop as China faces Trump’s tariff threats

SHANGHAI: The yuan was little changed on Friday against the dollar, but is headed for its tenth straight weekly loss...

Published 06 Dec, 2024 10:21am

Commodities

Wheat, corn rise, soy slips; Chicago grains set for weekly gains

JAKARTA: Wheat futures gained for a fourth consecutive session on Friday and were set to post a weekly gain,...

Published 06 Dec, 2024 10:12am

Bullion Rate

Gold heads for second weekly fall; focus on US payrolls data

Gold prices edged higher on Friday but headed for a second straight week of decline, while market participants...

Published 06 Dec, 2024 10:10am

Mutual Funds

India bond yields little changed, traders brace for central bank decision

MUMBAI: Indian government bond yields were little changed on Friday, with the benchmark yield glued to the 6.68%...

Published 06 Dec, 2024 10:05am

Forex

Dollar retreat to boost Indian rupee before RBI rate decision

MUMBAI: The Indian rupee is likely to open higher on Friday on the back of a decline in the dollar index, after...

Published 06 Dec, 2024 10:02am

Forex

Australia, NZ dollars on the skids as rate ground shifts

SYDNEY: The Australian and New Zealand dollars nursed painful weekly losses on Friday after a run of soft domestic...

Published 06 Dec, 2024 09:59am

Stocks

Indian shares open higher ahead of cenbank policy decision

Indian shares opened marginally higher on Friday, ahead of the Reserve Bank of India’s (RBI) monetary policy...

Published 06 Dec, 2024 09:56am

Stocks

Japan’s Nikkei slides as traders book profits ahead of US payrolls data

TOKYO: Japan’s Nikkei share average slipped on Friday, with investors locking in profits after four days of gains...

Published 06 Dec, 2024 09:54am

Stocks

Healthcare, mining stocks push Australian shares lower

Australian shares fell on Friday, tracking weakness in Wall Street indices overnight, with healthcare stocks losing...

Published 06 Dec, 2024 09:38am

Forex

Currency markets on edge amid political turmoil, eye US jobs report

TOKYO: Major currencies remained jittery on Friday as markets considered the impact of a politically turbulent week...

Published 06 Dec, 2024 09:36am

Energy

Oil set for weekly loss on surplus fears after OPEC+ cut extensions

Oil prices fell 1% on Friday and were headed for a weekly loss, as analysts continued to forecast a supply surplus...

Updated 06 Dec, 2024 10:13pm

Companies

Careem partners with PSO to simplify Captains’ journey

KARACHI: Careem and Pakistan State Oil (PSO) have collaborated to offer PSO’s products and services on discounts ...

Published 06 Dec, 2024 09:00am

Taxes

Committees formed for procurements at FBR

ISLAMABAD: The Federal Board of Revenue (FBR) Thursday constituted committees for procurements at FBR in connection...

Published 06 Dec, 2024 08:58am

Industry

‘New Gwadar Airport ready for takeoff by month-end’

KARACHI: The Acting Director General of the Pakistan Airports Authority (PAA), Air Vice Marshal (AVM) Zeeshan Saeed,...

Published 06 Dec, 2024 08:54am

P@SHA chief tells Senate body: Lack of clear policy on VPN, internet use is counterproductive

ISLAMABAD: The potential short- and medium-term economic impact of restrictions on virtual private networks (VPNs)...

Published 06 Dec, 2024 08:41am

PSW’s latest initiatives, future projects highlighted

KARACHI: Deputy Collector Customs & Domain Officer Pakistan Single Window (PSW) Muhammad Asim Awan, while...

Published 06 Dec, 2024 07:43am

KSA’s Vision 2030 model: Aurangzeb highlights importance of learning

ISLAMABAD: The Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, attended virtually the 1st...