News Archives for Business & Finance - 2024-12-09

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Business & Finance - 2024-12-09

Companies

China targets Nvidia with antitrust probe, escalating US chip tensions

BEIJING: China said on Monday it has launched an investigation into Nvidia Corp over suspected violations of the...

Published 09 Dec, 2024 09:16pm

Middle East

Syria central bank says depositors’ funds at local banks ‘safe’

DAMASCUS: Syria’s central bank said Monday depositors’ funds in the country’s lenders were “safe” after rebels took...

Published 09 Dec, 2024 08:39pm

Stocks

Most Gulf markets gain as investors await US inflation data

Most stock markets in the Gulf closed higher on Monday as investors waited for a reading of U.S. inflation data...

Published 09 Dec, 2024 07:24pm

Commodities

Gold price per tola increases Rs2,000 in Pakistan

Gold prices in Pakistan registered gain on Monday in line with their increase in the international rate. In the...

Updated 09 Dec, 2024 10:15pm

Statistics

Pakistan’s remittance inflow at $2.92bn in November 2024, down 4.5% month-on-month

Amount 29.1% higher when compared with $2.26 billion in November 2023

Updated 09 Dec, 2024 09:27pm

Stocks

IT stocks lift Sri Lankan shares

CSE All Share index settled up 0.77% at 13,718.75

Published 09 Dec, 2024 06:06pm

Financial

UAE to impose 15% minimum top-up tax on large multinationals from January

DUBAI: The United Arab Emirates will impose a minimum top-up tax (DMTT) of 15% on large multinational companies...

Updated 09 Dec, 2024 10:29pm

Govt set to start fresh round of its PIA privatisation pursuit

The government is set to initiate another process of the national carrier Pakistan International Airlines’ (PIA)...

Updated 09 Dec, 2024 10:10pm

Stocks

Consumer, autos stocks drag India’s benchmarks lower

India’s benchmark indexes inched lower on Monday, dragged by consumer stocks on Godrej Consumer Products’ bleak...

Published 09 Dec, 2024 05:02pm

Commodities

Copper jumps to approach one-month high on China hopes

LONDON: Copper prices jumped on Monday to the highest in nearly a month after top metals consumer China said it...

Published 09 Dec, 2024 04:57pm

Commodities

Palm ends lower tracking rival vegetable oils; industry data eyed

JAKARTA: Malaysian palm oil futures closed down on Monday, tracking a decline in rival vegetable oils on the Dalian...

Published 09 Dec, 2024 04:53pm

Industries & Sectors

Extreme heat puts garment factory workers in Pakistan, Bangladesh, Vietnam at risk: study

LONDON: Workers in some of the world’s biggest garment manufacturing hubs in Bangladesh, Vietnam, and Pakistan are...

Updated 09 Dec, 2024 10:12pm

Companies

Unity Foods secures key certification, eyes global biofuel market

Targeting biofuel feedstock export to Europe and the Far East countries, Unity Foods Limited, a key Pakistani food...

Published 09 Dec, 2024 03:48pm

Stocks

European shares edge higher on China stimulus optimism

European shares hovered near six-week highs on Monday, led by mining and luxury stocks after signs of fresh stimulus...

Published 09 Dec, 2024 03:40pm

Stocks

Miners propel UK’s FTSE 100 higher; GDP data on tap

The UK’s benchmark FTSE 100 kicked off the week climbing higher on Monday, boosted by mining shares, while investors...

Published 09 Dec, 2024 03:32pm

Companies

Amir Hayat ends tenure as PIA Holding Company CEO

Air Vice Marshal (AVM) Muhammad Amir Hayat is no longer the Chief Executive Officer (CEO) of PIA Holding Company...

Updated 09 Dec, 2024 10:13pm

Energy

Atom Power unveils Pakistan’s first locally assembled lithium-ion batteries

Atom Power (PRIVATE) Limited is poised to transform the energy storage landscape in Pakistan with the launch of the...

Updated 09 Dec, 2024 03:12pm

Mutual Funds

JGB yields track US peers lower, investors assess BOJ’s rate outlook

TOKYO: Japanese government bond (JGB) yields declined on Monday, tracking US Treasury yields, while investors sought...

Published 09 Dec, 2024 01:29pm

Mutual Funds

Philippines fully awards $258mn T-bill offer

BTr fully awards 15 billion pesos

Published 09 Dec, 2024 01:26pm

Mutual Funds

German yields drop as market focus shifts to US data, ECB meeting

German government bond yields fell on Monday, after recording their first weekly rise in more than a month on...

Published 09 Dec, 2024 12:59pm

Companies

Mitchell’s key shareholders halt stake sale talks with CCL Holding

Mitchell’s Fruit Farms Limited (MFFL), a key player in Pakistan’s food manufacturing industry, announced that two of...

Updated 09 Dec, 2024 08:34pm

ECB to cut rates again amid bleak eurozone outlook

FRANKFURT: The European Central Bank is expected to cut interest rates again this week amid a darkening outlook,...

Published 09 Dec, 2024 12:30pm

Energy

Saudi Arabia cuts crude oil prices for Asia amid nascent demand recovery: Russell

LAUNCESTON: It’s always tempting to try and over-analyse changes in the crude oil market and Saudi Arabia’s decision...

Published 09 Dec, 2024 11:44am

Currency

At Gulf bitcoin gathering, Trump family and allies to bask in crypto industry’s euphoria

NEW YORK: Several key players in President-elect Donald Trump’s new cryptocurrency venture head to Abu Dhabi on...

Published 09 Dec, 2024 11:39am

Stocks

South Korea shares drop as political turmoil continues after President Yoon survives impeachment

KOSPI was down 41.11 points, or 1.73%, at 2,387.05

Published 09 Dec, 2024 11:34am

BYD on track to top 2024 sales goal and outsell Ford, Honda

SHANGHAI/BEIJING: China’s top electric vehicle producer BYD is set to show further market share gains when November...

Published 09 Dec, 2024 11:32am

Forex

China’s yuan eases as deflationary pressure persists

SHANGHAI: China’s yuan eased against the dollar on Monday as persistent deflationary pressure suggested more policy...

Published 09 Dec, 2024 11:02am

China’s inflation weakens as new risks cloud horizon

BEIJING: China’s consumer inflation hit a five-month low in November as fresh food prices pulled back while factory...

Published 09 Dec, 2024 10:59am

Exchange

Rupee largely stable against US dollar

Currency settles at 277.98 against greenback in the inter-bank market

Updated 09 Dec, 2024 10:28pm

Commodities

Iron ore rangebound as traders weigh China stimulus bets, softer inflation data

SINGAPORE: Iron ore futures traded sideways on Monday as investors weighed hopes of further stimulus from China...

Published 09 Dec, 2024 10:52am

Commodities

Copper prices edge lower on China stimulus uncertainty

London copper prices edged lower on Monday as uncertainty over any stimulus signals from top consumer China’s...

Published 09 Dec, 2024 10:50am

Stocks

China, Hong Kong stocks ease as inflation slows, key policy meeting eyed

HONG KONG: China and Hong Kong stocks dropped in a volatile trading session on Monday as inflation data undershot...

Published 09 Dec, 2024 10:38am

Bullion Rate

Gold firms as investors await US inflation data for Fed clues

Gold prices gained on Monday as investors awaited US inflation data due this week for clues on the Federal Reserve’s...

Published 09 Dec, 2024 10:30am

Stocks

Another record high: KSE-100 closes shy of 110,000

Buying spree continues despite pressure in banking sector

Updated 09 Dec, 2024 10:27pm

Commodities

Corn takes a breather after rallying to 5-month high

CANBERRA: Chicago corn futures eased on Monday as traders took a breather from a rally fuelled by technical buying...

Published 09 Dec, 2024 10:27am

Forex

Thai baht stronger vs US dollar at 0250 GMT

BANGKOK: The Thai baht rose in morning trade on Monday as the dollar weakened following jobs data that supports a US...

Published 09 Dec, 2024 10:24am

Commodities

Palm tracks rival vegetable oils lower

JAKARTA: Malaysian palm oil futures fell on Monday, following the decline in rival vegetable oil prices on the...

Published 09 Dec, 2024 10:23am

Forex

Australian dollar pinned near one-year lows ahead of RBA rate decision

SYDNEY: The Australian dollar stayed close to one-year lows on Monday and remained vulnerable to further losses as...

Published 09 Dec, 2024 10:20am

Stocks

Australian shares slump as miners weigh; cenbank rate decision in focus

Australian shares slipped on Monday, with most sectors in the red and miners hit the hardest by a slump in iron ore...

Published 09 Dec, 2024 10:15am

Stocks

Japan’s Nikkei tracks Wall Street higher; profit-taking caps rise

TOKYO: Japan’s Nikkei share average rose on Monday, buoyed by Wall Street’s gains at the end of last week, although...

Published 09 Dec, 2024 10:12am

Japan revises Q3 GDP higher, keeps alive BOJ rate-hike expectations

TOKYO: Japan’s economy expanded in July-September at a faster pace than initially reported thanks to upward...

Published 09 Dec, 2024 10:11am

Stocks

Indian shares set to open flat

Indian shares are set to open flat on Monday, after logging their best week since June on Friday, with traders...

Published 09 Dec, 2024 10:08am

Mutual Funds

Drop in US peers nudges Indian bond yields lower

MUMBAI: Indian government bond yields inched lower in early trading on Monday, tracking a fall in US Treasury yields...

Published 09 Dec, 2024 10:02am

Forex

Indian rupee tipped to drift lower as buoyant dollar pressures Asia FX

MUMBAI: The Indian rupee is likely to open slightly lower on Monday as expectations surrounding the incoming Trump...

Published 09 Dec, 2024 09:59am

Stocks

Asia stocks slugged by South Korea turmoil, China disinflation

SYDNEY: Asian shares struggled with a slide in South Korea on Monday ahead of a packed week of central bank meetings...

Published 09 Dec, 2024 09:54am

Forex

Loonie, Aussie in focus while US dollar idles

SINGAPORE: The Canadian dollar and Australian dollar were in focus on Monday ahead of their central bank meetings...

Published 09 Dec, 2024 09:52am

Energy

Oil prices rise as China moves toward monetary easing to boost growth

Oil prices climbed by more than 1% on Monday as top importer China flagged its first move toward a loosened monetary...

Updated 09 Dec, 2024 06:02pm

BMP for raising tax-to-GDP ratio as collection shortfall likely to widen

LAHORE: The Federation of Pakistan Chambers of Commerce & Industry’s Businessmen Panel (BMP) on Sunday...

Published 09 Dec, 2024 07:23am

Rates

Largely stable

KARACHI: Rupee remained largely stable against the US dollar in the inter-bank market during the previous week. The...