News Archives for Business & Finance - 2024-12-10

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Business & Finance - 2024-12-10

Stocks

Nasdaq outshines Wall Street peers on tech boost with focus on inflation data

The Nasdaq outpaced its Wall Street peers on Tuesday, boosted by rising megacap technology stocks, while focus...

Published 10 Dec, 2024 09:26pm

Companies

Month-on-month: car sales in Pakistan down 22% in November due to year-end effect

Car sales in Pakistan fell by 22% month-on-month (MoM) in November 2024, totaling 10,163 units, stated a report by...

Updated 10 Dec, 2024 09:32pm

Stocks

Saudi bourse gains ahead of US rate cut decision; Dubai falls on tax concerns

Saudi Arabian stock market ended higher on Tuesday, as investors looked ahead to the U.S. Federal Reserve’s upcoming...

Published 10 Dec, 2024 06:38pm

Stocks

Sri Lankan shares gain, lifted by financials

CSE All-Share index rose 0.41% to 13,774.96

Published 10 Dec, 2024 06:36pm

Currency

Indian rupee hit all-time low as RBI governor change sparks rate cut hopes

MUMBAI: The Indian rupee weakened to its all-time low on Tuesday as traders reacted to the appointment of career...

Published 10 Dec, 2024 04:48pm

Stocks

Indian shares end flat ahead of US, domestic inflation data

Indian shares ended largely flat on Tuesday as investors awaited key inflation data from India and the United States...

Published 10 Dec, 2024 04:35pm

Commodities

Copper prices slip under pressure from China trade data, stronger dollar

LONDON: Copper prices in London eased on Tuesday, reversing part of Monday’s 1.2% climb, under pressure from a...

Published 10 Dec, 2024 04:32pm

Commodities

Palm closes down more than 3% after Malaysian palm oil data release

JAKARTA: Malaysian palm oil futures closed lower on Tuesday after data from the industry regulator showed a drop in...

Published 10 Dec, 2024 04:30pm

Forex

Sterling rises towards highest in over 2-1/2 years versus euro

Sterling rose against the euro towards its highest level in over 2-1/2 years as investors expect the European...

Published 10 Dec, 2024 03:55pm

Stocks

Miners, Ashtead weigh on FTSE 100

The UK’s benchmark FTSE 100 fell on Tuesday as mining shares slipped, while Ashtead dropped after it warned of...

Published 10 Dec, 2024 03:48pm

Companies

Pakistan’s Citi Pharma, Martin Dow partner with Chinese firm for biotech manufacturing

Pakistan’s pharmaceutical companies Citi Pharma Limited (CPHL), Martin Dow, and Chinese pharmaceutical giant Kingbo...

Updated 10 Dec, 2024 09:23pm

Commodities

Gold price per tola increases Rs1,000 in Pakistan

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

Updated 10 Dec, 2024 06:15pm

UK grocery inflation rises to 2.6%, says Kantar

LONDON: British shoppers faced increased pressure on their budgets last month after grocery price inflation edged...

Published 10 Dec, 2024 02:29pm

Egypt’s inflation dips to near two-year low of 25.5% in November

CAIRO: Egypt’s annual urban consumer price inflation rate dropped more than expected to 25.5% in November, its...

Published 10 Dec, 2024 02:27pm

Stocks

European shares slip after China stimulus excitement wanes; focus on US CPI

European shares snapped an eight-session winning run on Tuesday, hurt by losses in miners, as the rally sparked by...

Published 10 Dec, 2024 02:25pm

Stocks

Saudi, Qatari bourses gain; UAE markets fall on tax concerns

Saudi Arabian and Qatari stock markets rose in early trading on Tuesday, as investors looked ahead to the US Federal...

Published 10 Dec, 2024 02:24pm

Forex

Ugandan shilling stable; coffee and gold FX inflows offer support

KAMPALA: The Ugandan shilling was stable on Tuesday, with some inflows of dollars from exporters of commodities like...

Published 10 Dec, 2024 02:23pm

Forex

Russian rouble stable vs US dollar, strengthens vs China’s yuan

MOSCOW: The Russian rouble remained stable against the US dollar and the euro, strengthening against China’s yuan,...

Published 10 Dec, 2024 02:22pm

Business & Economy

‘Pakistan an invest-able market’: Engro Corp’s Samad Dawood explains tower sharing deal with Veon

KARACHI: Pakistan’s largest conglomerate Engro Corp, through its strategic partnership with Veon, is eyeing...

Updated 10 Dec, 2024 09:42pm

Companies

Ghandhara Tyre partners with China’s Shandong Huasheng to explore JV in Pakistan

Ghandhara Tyre and Rubber Company Limited (GTYR) has announced its collaboration with Shandong Huasheng Rubber Co.,...

Updated 10 Dec, 2024 09:32pm

Mutual Funds

Philippines raises $258.9mn from reissued T-bond auction

BTr fully awards 15 billion pesos

Published 10 Dec, 2024 12:51pm

Mutual Funds

JGB yields rise with US peers; BOJ rate hike timing in focus

TOKYO: Japanese government bond (JGB) yields rose on Tuesday, tracking US Treasury yields higher as investors...

Published 10 Dec, 2024 12:47pm

Allianz raises financial targets for next three years

Allianz, one of Europe’s biggest insurers, has raised its three-year financial targets after outperforming its key...

Published 10 Dec, 2024 12:35pm

Forex

South African rand softens at start of data-filled day

JOHANNESBURG: South Africa’s rand softened early on Tuesday, at the start of a day packed with local economic data...

Published 10 Dec, 2024 12:24pm

South Asia

India’s Reliance seeks up to $3bn loan for debt refinancing, Bloomberg News reports

India’s Reliance Industries is in talks with banks for a loan of as much as $3 billion to refinance debt that is due...

Published 10 Dec, 2024 11:48am

Stocks

Selling pressure seen at PSX, KSE-100 loses over 1,000 points

Early-morning buying spree followed by intense profit-taking and selling at 111,000 level

Updated 10 Dec, 2024 08:10pm

Commodities

Copper prices edge down on firmer US dollar

NEW DELHI: London copper prices edged lower on Tuesday as the US dollar strengthened, while traders looked for...

Published 10 Dec, 2024 11:24am

Philippines posts $5.8bn trade deficit in October, largest in 26 months

MANILA: The Philippines booked a trade deficit of $5.8 billion for October, its largest gap since August 2022,...

Published 10 Dec, 2024 11:19am

Commodities

China Jan-Nov soybean imports jump 9.4% to 97.09mn metric tons

BEIJING: China imported 97.09 million metric tons of soybeans in the first 11 months of 2024, jumping 9.4% from a...

Published 10 Dec, 2024 11:17am

Energy

China Nov crude oil imports up 14% to 48.52mn metric tons

SINGAPORE: China’s November crude oil imports rose 14.3% from a year earlier to 48.52 million metric tons, customs...

Published 10 Dec, 2024 11:04am

Bullion Rate

Gold extends gain on China’s vow for policy stimulus

Gold prices extended gains on Tuesday, buoyed by top consumer China’s pledge to ramp up policy stimulus to help spur...

Published 10 Dec, 2024 11:00am

Commodities

Corn holds near its highest since June on expected decline in US stockpiles

CANBERRA: Chicago corn futures held hear their highest level since June on Tuesday as the market awaited estimates...

Published 10 Dec, 2024 10:58am

Stocks

China, Hong Kong stocks surge at open on Beijing’s stimulus vow

HONG KONG: China and Hong Kong stocks surged at open on Tuesday after top policymakers vowed to ramp up policy...

Published 10 Dec, 2024 10:53am

Companies

TRG Pakistan announces completion of Afiniti’s recapitalisation

TRG Pakistan, being a shareholder in The Resource Group International (TRGI), announced on Tuesday that its indirect...

Updated 10 Dec, 2024 09:54pm

Forex

Yuan firms as major China policy shift boosts sentiment

SHANGHAI: China’s yuan firmed to a one-week high against the dollar on Tuesday despite Chinese long-term yields...

Published 10 Dec, 2024 10:41am

Commodities

China Nov copper imports hit one-year high

SHANGHAI/SINGAPORE: China’s copper imports rose in November to a one-year high, customs data showed on Tuesday,...

Published 10 Dec, 2024 10:38am

Forex

Australian dollar dives as RBA takes a dovish turn

SYDNEY: The Australian dollar took a dive on Tuesday after the country’s central bank sounded more dovish on the...

Published 10 Dec, 2024 10:33am

Stocks

South Korean shares rebound as policymakers pledge to stabilise markets

KOSPI was up 52.29 points, or 2.22%, at 2,412.87

Published 10 Dec, 2024 10:31am

Mutual Funds

Indian bond yields seen down as Fed rate cut bets, new central bank head to aid sentiment

MUMBAI: Indian government bond yields are expected to move marginally lower on Tuesday as US interest rate cut bets...

Published 10 Dec, 2024 10:28am

Forex

Indian rupee poised for all-time low as RBI change of guard spurs rate cut hopes

MUMBAI: The Indian rupee is likely to weaken to its lifetime low on Tuesday after the government named career civil...

Published 10 Dec, 2024 10:25am

Stocks

Nikkei gains on weaker yen, China’s surprise policy shift

TOKYO: Japan’s Nikkei share average advanced on Tuesday as a softer yen lifted exporter shares, while stocks with a...

Published 10 Dec, 2024 10:23am

Stocks

Australian shares slip as financials, tech counter miners’ gains; RBA decision in focus

Australian shares slipped on Tuesday as a jump in commodity stocks on a sharp uptick in underlying prices was...

Published 10 Dec, 2024 10:19am

Currency

Rupee records marginal fall against US dollar

Currency settles at 278.05 against the greenback in inter-bank market

Updated 10 Dec, 2024 09:48pm

Commodities

Malaysia end-November palm oil stocks fall 2.6% m/m, MPOB says

KUALA LUMPUR: Malaysia’s palm oil stocks at the end of November fell 2.6% from the previous month to 1.84 million...

Published 10 Dec, 2024 10:07am

China’s exports slow sharply, imports shrink ahead of Trump tariffs

BEIJING: China’s exports grew at a slower pace in November than the bumper month before, while imports unexpectedly...

Published 10 Dec, 2024 10:06am

Commodities

Australian iron ore miners soar on China stimulus optimism

Shares of Australian iron ore miners surged the most in over two years on Tuesday after the country’s top trading...

Published 10 Dec, 2024 10:04am

World Bank cuts Kenya’s 2024 growth estimate to 4.7% on fiscal challenges

NAIROBI: The World Bank downgraded Kenya’s economic growth estimate for this year to 4.7% on Tuesday, from an...

Published 10 Dec, 2024 10:01am

Boeing restarts 737 MAX production a month after strike ended, sources say

Boeing restarted production of its best-selling 737 MAX jetliner last week, about a month after the end of a...

Published 10 Dec, 2024 09:59am

Stocks

Indian shares set to open marginally higher

Indian shares are set to open marginally higher on Tuesday, with analysts expecting cautious sentiment ahead of key...

Published 10 Dec, 2024 09:57am

Energy

Oil prices rise on China stimulus, possible tight supply in Europe

HOUSTON: Oil prices rose on Tuesday as markets looked to rising demand in China, the world’s largest buyer, and...

Updated 11 Dec, 2024 12:00am

Forex

Aussie drops after RBA softens tone; US dollar steady before CPI

TOKYO: The Australian dollar sank towards a four-month low on Tuesday after the central bank softened its tone on...

Published 10 Dec, 2024 09:50am

Agriculture and Allied

Post-harvest losses in country up to 40pc, says ADB

ISLAMABAD: Post-harvest losses in Pakistan are estimated at 20 to 40 percent for various crops, due to lack of...

Published 10 Dec, 2024 08:20am

Companies

Payoneer hosts 4th edition of XBorder Excellence Awards

ISLAMABAD: Payoneer, the global financial technology company dedicated to empowering small and medium-sized...

Published 10 Dec, 2024 07:40am

Industry

LCCI seeks consultation over appointment of diplomats, trade officers abroad

LAHORE: The Lahore Chamber of Commerce & Industry has urged the government to ensure the chamber’s role in the...

Published 10 Dec, 2024 07:29am

Industry

President HCSTSI forms 44 sub-committees to address trader’s issues

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

Published 10 Dec, 2024 07:20am

Companies

PTCL to achieve EPI Data Center Certification

KARACHI: Pakistan’s leading telecom and integrated ICT services provider, Pakistan Telecommunication Company...

Published 10 Dec, 2024 07:17am

Non-bank financial sectors: SECP approves strategic action plan for Islamic finance development

ISLAMABAD: The Strategic Action Plan of the Securities and Exchange Commission of Pakistan (SECP) aims to enable...

Published 10 Dec, 2024 07:14am

Companies

Unilever launches safety programme for outdoor advertising workers

KARACHI: Unilever Pakistan has implemented new measures for ‘skin fitters’ in order to address safety and...

Published 10 Dec, 2024 07:13am

Bangladesh & Pakistan to diversify, increase bilateral trade

KARACHI: Bangladesh and Pakistan have been working to diversify and to increase bilateral trade baskets. Bangladesh...

Published 10 Dec, 2024 06:13am

PM reiterates commitment to boost trade ties with Qatar

ISLAMABAD: Prime Minister Shehbaz Sharif on Monday reiterated Pakistan's commitment to strengthening trade,...

Updated 10 Dec, 2024 07:21am

Industry

‘US has become Pakistan’s largest export market’

ISLAMABAD: The US Chargé d’Affairs Natalie Baker has said that the United States’ has become Pakistan’s largest...

Updated 10 Dec, 2024 09:02am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 13	278.15
USD PKR Interbank Buying / Dec 13	277.95
USD to Japanese Yen / Dec 13	153.65
USD to Swiss Franc / Dec 13	0.89
Pound Sterling to USD / Dec 13	1.26
Euro to USD / Dec 13	1.05

Stock	Volume
S&P 500 / Dec 13	6,051.09
India Sensex / Dec 13	82,133.12
Tokyo Nikkei / Dec 13	39,470.44
Nasdaq / Dec 13	19,926.72
Hang Seng / Dec 13	19,971.24
FTSE 100 / Dec 13	8,300.33
Dow Jones / Dec 13	44,828.06
Germany DAX 30 / Dec 13	20,405.92

Item	Value
Crude Oil USD/Barrel / Dec 13	71.29
Karachi Cotton PKR/37.32 KG / Dec 13	17,585
Gold 10 Grams PKR / Dec 13	242,373.80
Gold Spot USD/Ounce / Dec 13	2,648.23
Cotton US¢/pound / Dec 13	69.27
Petrol/Litre / Dec 14	252.10

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Dec 13 786 Investments Limited(786)	8.07 ▲ 1.00 (14.14%)
F.Credit & Inv / Dec 13 First Credit and Investment Bank Limited(FCIBL)	8.69 ▲ 1.00 (13.00%)
LSE Financial Serv. / Dec 13 LSE Financial Services Limited(LSEFSL)	15.14 ▲ 1.38 (10.03%)
United Brands / Dec 13 United Brands Limited(UBDL)	24.84 ▲ 2.26 (10.01%)
Arpak Int. / Dec 13 Arpak International Investments Ltd.(ARPAK)	76.32 ▲ 6.94 (10.00%)
Biafo Ind. / Dec 13 Biafo Industries Limited(BIFO)	190.43 ▲ 17.31 (10.00%)
Data Agro / Dec 13 Data Agro Limited(DAAG)	104.61 ▲ 9.51 (10.00%)
Fecto Cement / Dec 13 Fecto Cement Limited(FECTC)	120.47 ▲ 10.95 (10.00%)
Honda Atlas Cars / Dec 13 Honda Atlas Cars (Pakistan) Limited(HCAR)	336.11 ▲ 30.56 (10.00%)

Stock	Price
First Capital Equities / Dec 13 First Capital Equities Limited(FCEL)	5 ▼ -0.76 (-13.19%)
Blue-Ex Ltd / Dec 13 Blue-Ex Limited (GEM)(GEMBLUEX)	32.99 ▼ -3.66 (-9.99%)
Crescent Fib. / Dec 13 Crescent Fibres Limited(CFL)	39.60 ▼ -4.37 (-9.94%)
Mughal Energy / Dec 13 Mughal Energy Limited(GEM)(GEMMEL)	21 ▼ -1.65 (-7.28%)
Askari Bank / Dec 13 Askari Bank Limited(AKBL)	37.56 ▼ -2.93 (-7.24%)
First AL-Noor Mod. / Dec 13 First Al-Noor Modaraba(FANM)	3.25 ▼ -0.24 (-6.88%)
First Elite Cap.Mod / Dec 13 First Elite Capital Modaraba(FECM)	6.45 ▼ -0.45 (-6.52%)
Haseeb Waqas / Dec 13 Haseeb Waqas Sugar Mills Limited(HWQS)	12.01 ▼ -0.83 (-6.46%)
K.S.B.Pumps / Dec 13 KSB Pumps Company Limited(KSBP)	151 ▼ -9.98 (-6.20%)

Stock	Volume
WorldCall Telecom / Dec 13 Worldcall Telecom Limited(WTL)	232,925,553 ▼ -0.01
Cnergyico PK / Dec 13 Cnergyico PK Limited(CNERGY)	80,186,381 ▼ -0.14
Pak Int.Bulk / Dec 13 Pakistan International Bulk Terminal(PIBTL)	75,005,438 ▲ 0.61
K-Electric Ltd. / Dec 13 K-Electric Limited(KEL)	59,689,845 ▲ 0.06
Fauji Foods Ltd / Dec 13 Fauji Foods Limited(FFL)	49,273,861 ▼ -0.03
Treet Corp / Dec 13 Treet Corporation Limited(TREET)	47,769,775 ▲ 2.23
Lotte Chemical / Dec 13 Lotte Chemical Pakistan Limited(LOTCHEM)	45,989,291 ▼ -1.12
Sui South Gas / Dec 13 Sui Southern Gas Company Limited(SSGC)	38,442,527 ▼ -1.06
Power Cement / Dec 13 Power Cement Limited(POWER)	37,680,570 ▲ 0.57

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