News Archives for Business & Finance - 2024-12-11

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Business & Finance - 2024-12-11

Business & Economy

Pakistan’s business confidence improves, but investment outlook dims: survey

Pakistan’s overall business confidence improved to a two-year high, driven by positive economic indicators, but the...

Updated 11 Dec, 2024 11:08pm

Interest Rates

Bank of Canada cuts rates by 50 bps, frets over possible Trump tariffs

OTTAWA: The Bank of Canada slashed its key policy rate by 50 basis points to 3.25% on Wednesday and indicated that...

Published 11 Dec, 2024 09:56pm

US consumer inflation rises to 2.7% in November

WASHINGTON: US consumer inflation ticked up for a second consecutive month in November, according to government data...

Published 11 Dec, 2024 08:41pm

Industry

China plans $1bn medical city in Dhabeji Special Economic Zone, says Sindh govt

A Chinese business delegation has expressed ‘deep interest’ in establishing a $1 billion medical city in the Dhabeji...

Published 11 Dec, 2024 03:59pm

Stocks

FTSE 100 slides to two-week low ahead of US inflation print

The UK’s benchmark FTSE 100 fell to a two-week low on Wednesday, with Ashtead extending declines, while investors...

Published 11 Dec, 2024 03:42pm

Commodities

Gold price per tola gains Rs3,100 in Pakistan

Gold prices in Pakistan registered a significant gain on Wednesday in line with their increase in the international...

Published 11 Dec, 2024 02:56pm

Business & Economy

ADB approves $330mn financing to bolster Pakistan’s social protection programmes

Result-based loan to expand grassroots-level social protection, lender says

Updated 11 Dec, 2024 09:45pm

Money & Banking

MCB Bank appoints Nauman Chughtai as President & CEO

The Board of Directors (BoD) of MCB Bank, one of Pakistan’s largest commercial banks, has appointed Muhammad Nauman...

Updated 11 Dec, 2024 10:58pm

Stocks

European shares weighed down by disappointing corporate updates

European stocks eased further from multi-week highs on Wednesday after a series of downbeat corporate updates and as...

Published 11 Dec, 2024 01:45pm

Stocks

Most Gulf markets gain ahead of US inflation report

Most stock markets in the Gulf region edged higher in early trade on Thursday as investors awaited U.S. inflation...

Published 11 Dec, 2024 01:43pm

Money & Banking

Banking sector’s ADR climbs to nearly 48% as of Nov 29

The banking sector’s gross Advance-to-Deposit Ratio (ADR) maintained its upward trajectory, hitting nearly 48% as of...

Updated 11 Dec, 2024 11:01pm

Commodities

Palm ends lower on profit-booking and tracking Dalian palm

JAKARTA: Malaysian palm oil futures extended loss on Wednesday, as traders booked profits following early gains that...

Updated 11 Dec, 2024 03:37pm

Currency

South African rand weaker before local, US inflation data

JOHANNESBURG: South Africa’s rand weakened early on Wednesday ahead of domestic and U.S. inflation readings which...

Published 11 Dec, 2024 12:55pm

Stocks

Australian shares follow Wall Street lower ahead of US inflation data

Australian shares ended lower on Wednesday, tracking losses on Wall Street, ahead of crucial U.S. inflation figures...

Published 11 Dec, 2024 12:15pm

Stocks

South Korean stocks close higher for second session

KOSPI closed up 24.67 points, or 1.02%, at 2,442.51

Published 11 Dec, 2024 12:06pm

South Asia

Adani pulls out of US loan deal for Colombo port

NEW DELHI: India’s Adani Group has withdrawn its request for a US government-backed loan to construct a port in Sri...

Published 11 Dec, 2024 11:55am

Currency

Australian dollar struggles, bonds trim gains as jobs report looms

SYDNEY: The Australian dollar languished near a four-month low on Wednesday while bonds retreated from their...

Published 11 Dec, 2024 11:48am

Commodities

Japan rubber futures range-bound as traders weigh weak demand, China stimulus hopes

SINGAPORE: Japanese rubber futures traded within a narrow range on Wednesday, as investors weighed soft demand...

Published 11 Dec, 2024 11:43am

Commodities

Dalian iron ore retreats as Beijing stimulus optimism fades

SINGAPORE: Dalian iron ore futures prices retreated on Wednesday but hovered near two-month highs, as investors...

Published 11 Dec, 2024 11:38am

Commodities

Gold touches two-week peak; US inflation data in focus

Gold prices scaled a two-week peak on Wednesday, supported by escalating geopolitical tensions and expectations of...

Published 11 Dec, 2024 11:35am

Commodities

Copper prices near one-month high on China policy optimism

NEW DELHI: London copper prices climbed to a nearly one-month high on Wednesday, as markets drew support from top...

Published 11 Dec, 2024 11:32am

Financial

India bond yields trapped in narrow range before inflation data

MUMBAI: The movement in Indian government bond yields was curtailed in early deals on Wednesday, as market...

Published 11 Dec, 2024 11:20am

Commodities

Tighter US supply outlook holds corn near its highest since June

CANBERRA: Chicago corn futures climbed on Wednesday and were near their highest levels since June 25 after the U.S....

Published 11 Dec, 2024 11:17am

Currency

China’s yuan inches higher as investors await key economic meeting

SHANGHAI: China’s yuan inched higher against the dollar on Wednesday as investors anxiously awaited a key policy...

Published 11 Dec, 2024 11:10am

Forex

Indian rupee slips to record low pressured by NDF dollar bids; RBI likely steps in

MUMBAI: The Indian rupee weakened to its all-time low on Wednesday, pressured by heightened dollar bids in the...

Published 11 Dec, 2024 11:06am

Stocks

Asian stocks fall, currencies tepid ahead of US inflation print

Most Asian equities were under pressure on Wednesday, while currencies traded largely steady, as investors awaited...

Published 11 Dec, 2024 10:50am

Exchange

Rupee registers marginal decline against US dollar

Currency settles at 278.17 against greenback in inter-bank market

Updated 11 Dec, 2024 10:21pm

Stocks

Japan’s Nikkei reverses course to close tad higher; focus stays on US inflation data

TOKYO: Japan’s Nikkei share average erased losses to end marginally higher on Wednesday as investors bought back...

Updated 11 Dec, 2024 12:59pm

Stocks

China stocks range-bound as investors eye annual economic meeting, HK drops

HONG KONG: China traded in a narrow range on Wednesday as investors awaited a key economic policy meeting for clues...

Updated 11 Dec, 2024 03:48pm

Stocks

Indian shares muted ahead of domestic, US inflation data

Indian shares were little changed on Wednesday, as investors awaited key U.S and domestic inflation data for cues...

Updated 11 Dec, 2024 03:39pm

Currency

Dollar holds ground ahead of CPI, Aussie wallows near 4-month low

TOKYO: The dollar traded close to a two-week high versus the yen on Wednesday ahead of a highly anticipated reading...

Published 11 Dec, 2024 10:30am

Energy

Oil rises 1% as EU agrees further sanctions threatening Russian oil flows

Oil prices rose more than 1% on Wednesday after the European Union agreed an additional round of sanctions...

Updated 11 Dec, 2024 09:50pm

Exchange

Stocks stage strong recovery, KSE-100 settles at fresh record high

A day after intense profit-taking, bullish momentum returned to the Pakistan Stock Exchange (PSX) with the benchmark...

Updated 11 Dec, 2024 11:00pm

Industry

High profile Chinese delegation visits TDAP

KARACHI: A high profile international Chinese delegation on Tuesday visited Trade Development of Pakistan (TDAP). ...

Published 11 Dec, 2024 08:47am

Companies

inDrive’s B2B deliveries tripling in 2024

ISLAMABAD: inDrive, a leading ride-hailing and delivery service, has achieved a remarkable milestone in Pakistan ...

Published 11 Dec, 2024 08:45am

Companies

Engro’s deal shows investors’ confidence: Samad Dawood

KARACHI: Tough measures taken by the government have helped achieve macroeconomic stability and revived investor...

Published 11 Dec, 2024 08:43am

Taxes

‘Clever’ taxpayer fails to bypass established procedures

LAHORE: A ‘clever’ taxpayer has failed to bypass the established procedures for resolving tax disputes, as the...

Published 11 Dec, 2024 08:38am

Agriculture and Allied

Punjab allocates Rs1.5bn for revival of kinnow orchards

LAHORE: The Punjab government has earmarked Rs1.5 billion for revitalizing kinnow orchards covering 317,000 acres...

Published 11 Dec, 2024 08:37am

FBR establishes ‘Faceless Customs Assessment’

ISLAMABAD: The Federal Board of Revenue (FBR) has established Faceless Customs Assessment (FCA) to improve the...

Published 11 Dec, 2024 08:02am

PALSP says high energy tariffs brought steel sector to its knees

ISLAMABAD: Pakistan’s steel industry, the backbone of the country’s economy, is teetering on the edge of ...

Published 11 Dec, 2024 08:01am

Sharjeel invites foreign investors to transport sector

KARACHI: Senior Minister Sharjeel Inam Memon has invited international investors to invest in the transport sector. ...

Published 11 Dec, 2024 07:58am

Chinese team discusses investment, tech transfer with Sindh minister

KARACHI: Provincial Minister for Energy, Development and Planning Sindh Syed Nasir Hussain Shah meets a delegation ...

Published 11 Dec, 2024 07:56am

Companies

SBP partners with Systems Ltd, Temenos

KARACHI: The State Bank of Pakistan (SBP) has partnered with Systems Limited and Temenos to upgrade and modernize ...

Published 11 Dec, 2024 07:47am

Global airlines forecast 2025 growth

GENEVA: Global airline body IATA forecast on Tuesday industry-wide 2025 revenue of more than a trillion dollars and...

Published 11 Dec, 2024 06:45am

World Bank likely to approve $240m KWSSIP-2 tomorrow

ISLAMABAD: The World Bank’s Board of Executive Directors is likely to approve “Second Karachi Water and Sewerage...

Updated 11 Dec, 2024 09:13am

US sanctions Chinese cybersecurity firm

WASHINGTON: The US slapped sanctions on a Chinese cybersecurity company and one of its employees Tuesday, accusing ...

Published 11 Dec, 2024 06:45am

IATA chief says sustainable plane fuel supply not enough

GENEVA: The head of the world aviation industry body complained Tuesday that the current supply of new low-carbon...

Published 11 Dec, 2024 06:45am

Telecom operators set prerequisites for launch of 5G

ISLAMABAD: Telecom operators have set prerequisites including local currency payments, staggered payment plans, and...

Published 11 Dec, 2024 06:45am

Sindh CM meets businessmen: Promoting industrial growth should be primary objective

LAHORE: Sindh Chief Minister Murad Ali Shah emphasized that promoting industrial growth should be a primary...

Published 11 Dec, 2024 06:45am

Taxes

9,900 out of 10,515 complaints resolved: FTO

ISLAMABAD: The Federal Tax Ombudsman (FTO) Secretariat received 10,515 complaints during the past ten months, of...

Published 11 Dec, 2024 06:45am

Industry

SECP appellate bench manages 314 cases till date

ISLAMABAD: The Securities and Exchange Commission’s Appellate Bench, an apex quasi-judicial Appellate forum, has...

Published 11 Dec, 2024 06:45am

Money & Banking

US dollar rises

NEW YORK: The dollar rose on Tuesday ahead of US inflation data that could offer clues about the Federal Reserve’s...

Published 11 Dec, 2024 06:45am

Money & Banking

Asian currencies: Taiwan dollar largely unchanged

BENGALARU: The Taiwan dollar was largely unchanged. Taiwan’s defence ministry said China is deploying its largest...

Published 11 Dec, 2024 06:45am

Companies

Accord signed to implement PITB’s PayZen initiative

LAHORE: The Punjab Information Technology Board (PITB) and the Punjab Cooperative Housing Society (PCHS) have signed...

Updated 11 Dec, 2024 08:07am

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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 14 786 Investments Limited(786)	8.07 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Dec 14 Al-Abbas Sugar Mills Limited(AABS)	756.79 ▼ 0.00 (0.00%)
Agro Allianz / Dec 14 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Dec 14 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Dec 14 Ali Asghar Textile Mills Limited(AATM)	62.42 ▼ 0.00 (0.00%)
Allied Bank / Dec 14 Allied Bank Limited(ABL)	132.26 ▼ 0.00 (0.00%)
Abbott Lab. / Dec 14 Abbott Laboratories (Pakistan) Limited(ABOT)	1,182 ▼ 0.00 (0.00%)
Abson Ind. / Dec 14 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Dec 14 Alfalah Consumer Index ETF.(ACIETF)	14.80 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Dec 14 786 Investments Limited(786)	8.07 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Dec 14 Al-Abbas Sugar Mills Limited(AABS)	756.79 ▲ 0.00 (0.00%)
Agro Allianz / Dec 14 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Dec 14 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Dec 14 Ali Asghar Textile Mills Limited(AATM)	62.42 ▲ 0.00 (0.00%)
Allied Bank / Dec 14 Allied Bank Limited(ABL)	132.26 ▲ 0.00 (0.00%)
Abbott Lab. / Dec 14 Abbott Laboratories (Pakistan) Limited(ABOT)	1,182 ▲ 0.00 (0.00%)
Abson Ind. / Dec 14 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Dec 14 Alfalah Consumer Index ETF.(ACIETF)	14.80 ▲ 0.00 (0.00%)

Stock	Volume
WorldCall Telecom / Dec 14 Worldcall Telecom Limited(WTL)	129,897,250 ▲ 0.00
Pak Int.Bulk / Dec 14 Pakistan International Bulk Terminal(PIBTL)	75,509,313 ▲ 0.00
Treet Corp / Dec 14 Treet Corporation Limited(TREET)	47,769,875 ▲ 0.00
Fauji Foods Ltd / Dec 14 Fauji Foods Limited(FFL)	47,559,743 ▲ 0.00
K-Electric Ltd. / Dec 14 K-Electric Limited(KEL)	44,439,472 ▲ 0.00
Cnergyico PK / Dec 14 Cnergyico PK Limited(CNERGY)	41,439,027 ▲ 0.00
Power Cement / Dec 14 Power Cement Limited(POWER)	37,891,771 ▲ 0.00
Pak Elektron / Dec 14 Pak Elektron Limited(PAEL)	32,798,832 ▲ 0.00
Hascol Petrol / Dec 14 Hascol Petroleum Limited(HASCOL)	29,057,992 ▲ 0.00

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