News Archives for Business & Finance - 2024-12-13

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Business & Finance - 2024-12-13

Commodities

Global LNG: Asian spot LNG falls on muted demand, strong inventories

LONDON: Asian spot liquefied natural gas (LNG) prices fell this week amid weak demand and the availability of more...

Published 13 Dec, 2024 07:16pm

Money & Banking

India’s forex reserves drop to over five-month low

MUMBAI: India’s foreign exchange reserves fell by $3.2 billion to a more than five-month low of $654.86 billion as...

Published 13 Dec, 2024 06:24pm

Stocks

Real estate and industrial stocks lift Dubai; Abu Dhabi falls

Dubai’s main share index closed higher on Friday, in line with oil prices, boosted by gains in real estate and...

Published 13 Dec, 2024 06:19pm

Commodities

India’s rice stocks surge to record high, boosting export prospects

NEW DELHI/MUMBAI: Rice inventories in India surged to a record high at the start of December, reaching more than...

Published 13 Dec, 2024 06:09pm

Commodities

LME stocks data supports copper, but dollar dominates

LONDON: Copper prices came under pressure from a stronger dollar on Friday, but losses were limited due to London...

Published 13 Dec, 2024 06:02pm

Commodities

Gold falls massive Rs5,000 per tola in Pakistan

Gold prices in Pakistan fell significantly on Friday in line with their decline in the international rate. In the...

Updated 13 Dec, 2024 10:55pm

Stocks

India’s benchmark indexes log longest weekly winning run since July

Indian equity benchmarks ended higher on Friday, buoyed by consumer stocks on easing domestic retail inflation, and...

Published 13 Dec, 2024 05:14pm

Stocks

Sri Lanka shares end higher lifted by IT, financials gain

CSE All Share index settled up 1.2% at 14,205.34

Published 13 Dec, 2024 05:11pm

Commodities

Palm ends with more than 4% weekly loss

JAKARTA: Malaysian palm oil futures extended losses on Friday, tracking weakness in rival vegetable oils at the...

Published 13 Dec, 2024 05:09pm

Energy

PM Shehbaz calls for immediate shutdown of inefficient power plants, pushes for renewables

Statement from PM's Office says premier wants reforms in power sector expedited

Updated 13 Dec, 2024 09:54pm

Forex

Ugandan shilling little-changed; to ease due to commercial bank FX demand

KAMPALA: The Ugandan shilling was little-changed on Friday, but was expected to weaken due to demand for dollars...

Published 13 Dec, 2024 03:48pm

Forex

Russian rouble strengthens vs dollar in volatile trade

MOSCOW: The Russian rouble strengthened against the US dollar but weakened against China’s yuan on Friday amid...

Published 13 Dec, 2024 03:47pm

Energy

Iranian oil prices to China hit new multi-year highs as sanctions hit

SINGAPORE: The price of Iranian crude oil sold to China has risen to the highest in years as fresh US sanctions have...

Published 13 Dec, 2024 03:43pm

Forex

South African rand slips after central bank’s quarterly bulletin

JOHANNESBURG: South Africa’s rand slipped against the dollar on Friday after the central bank released its quarterly...

Published 13 Dec, 2024 02:36pm

Out of 2.32mn freelancers, only 38,000 hold bank accounts in Pakistan, PM Committee told

In a startling development, it was disclosed during a high-level meeting of the Prime Minister’s Committee on IT...

Updated 13 Dec, 2024 09:57pm

Forex

Sterling falls after UK GDP unexpectedly contracts in October

LONDON: The pound fell on Friday after data showed the British economy shrank unexpectedly in October, which could...

Published 13 Dec, 2024 02:12pm

Forex

Kenya’s shilling unchanged versus dollar, LSEG data shows

NAIROBI: Kenya’s shilling was unchanged in early trade against the dollar on Friday, London Stock Exchange Group...

Published 13 Dec, 2024 02:08pm

Mutual Funds

Euro area bond yields edge higher after ECB flags caution

LONDON: Euro zone bond yields rose on Friday, a day after the European Central Bank (ECB) cut interest rates but...

Published 13 Dec, 2024 02:06pm

Stocks

European stocks on course to snap three-week winning streak

European stocks slipped on Friday, and were on track to break a three-week winning streak, as investors sought...

Published 13 Dec, 2024 02:02pm

Stocks

China stocks slide as policy pledges fail to impress investors

SINGAPORE: Chinese stocks skidded toward their heaviest losses in three weeks on Friday, after a readout from a...

Published 13 Dec, 2024 12:27pm

Mutual Funds

JGB yields fall as BOJ’s rate hike bets weaken

TOKYO: Japan’s mid-to-long-term government bond yields fell on Friday as the market saw it as less likely that the...

Published 13 Dec, 2024 12:19pm

Stocks

KSE-100 rebounds after over 1,500-point intra-day loss, closes in the green

After profit-taking in the first half of the trading session, the Pakistan Stock Exchange (PSX) staged a comeback...

Updated 13 Dec, 2024 10:54pm

German exports fall more than expected in October

German exports fell by 2.8% in October compared with the previous month, data from the federal statistics office...

Published 13 Dec, 2024 12:07pm

Business & Economy

World Bank approves $240mn for WASH services in Karachi

Financing to support investments in water, sanitation services

Updated 13 Dec, 2024 10:56pm

IMF board concludes review that makes $131 million available to Jordan

WASHINGTON: The International Monetary Fund’s executive board has concluded a review that makes $131 million...

Published 13 Dec, 2024 11:16am

Stocks

South Korean shares dip ahead of impeachment vote

KOSPI was down 4.08 points, or 0.16%, at 2,478.04

Published 13 Dec, 2024 11:13am

Exchange

Rupee records marginal increase against US dollar

Currency settles at 278.12 against the greenback in inter-bank market

Updated 13 Dec, 2024 10:54pm

Forex

China’s yuan eases after remarks at key economic meeting fail to inspire

SHANGHAI: China’s yuan eased against the US dollar on Friday as remarks from the annual economic meeting failed to...

Published 13 Dec, 2024 10:44am

Commodities

Iron ore retreats, set for weekly loss as China stimulus disappoints

SINGAPORE: Iron ore futures retreated on Friday and were on track to end the week lower, as top consumer China’s...

Published 13 Dec, 2024 10:41am

Stocks

Asian shares fall, long-dated Treasuries set for worst week in a year

SYDNEY: Asia shares fell on Friday as a strong dollar kept risk sentiment fragile, while longer-dated Treasury...

Published 13 Dec, 2024 10:30am

Commodities

Corn heads for 4th straight weekly gain on falling US stockpiles

CANBERRA: Chicago corn futures edged lower on Friday after disappointing US export data but were on track for a...

Published 13 Dec, 2024 10:24am

Forex

Australia, NZ dollars under pressure as US yields climb

SYDNEY: The Australian and New Zealand dollars were pinned near multi-month lows on Friday as rising Treasury yields...

Published 13 Dec, 2024 10:17am

Energy

OGDCL discovers hydrocarbon reserves in Khyber Pakhtunkhwa

Oil and Gas Development Company Limited (OGDCL), Pakistan’s leading exploration and production company, announced...

Updated 13 Dec, 2024 10:01pm

Bullion Rate

Gold prices steady as focus turns to Fed’s policy decision

Gold prices were steady on Friday as investors refrained from making big bets, with attention turning to the Federal...

Published 13 Dec, 2024 10:15am

Mutual Funds

India 10-year bond yield at 6.75%, traders eye debt sale

MUMBAI: Indian government bond yields rose on Friday, hurt by elevated US yields and with the local benchmark bond...

Published 13 Dec, 2024 10:08am

Forex

Indian rupee weakness to persist on rally in dollar, US

MUMBAI: The Indian rupee will have to contend with the higher run in the US dollar and yields at the open on Friday,...

Published 13 Dec, 2024 10:06am

Stocks

Metals drag down Indian shares down at the open

Indian shares opened lower on Friday, dragged down by metal stocks on a strong US dollar and lack of clarity around...

Published 13 Dec, 2024 10:04am

Commodities

Palm tracks weakness in rival oils, set for a weekly loss

JAKARTA: Malaysian palm oil futures opened low on Friday, tracking weakness in rival vegetable oils at Chicago and...

Published 13 Dec, 2024 10:01am

Commodities

Copper eases on firm dollar, lack of clarity around China stimulus; set for weekly loss

NEW DELHI: London copper prices nudged lower on Friday and were on track for weekly losses on the back of a stronger...

Published 13 Dec, 2024 09:57am

Stocks

Japan’s Nikkei falters as traders lock in profit, assess US data

TOKYO: Japan’s Nikkei share average fell on Friday, as investors locked in profit following a four-session climb...

Published 13 Dec, 2024 09:54am

Stocks

Australian shares fall for fourth session as miners weigh

Australian shares tracked Wall Street losses to drop on Friday, with mining stocks declining the most, a day after...

Published 13 Dec, 2024 09:52am

Forex

Dollar set for best week in a month on cut-then-wait Fed outlook

TOKYO: The dollar rose to a 2 1/2-week high against major peers on Friday, on track for its best week in a month,...

Published 13 Dec, 2024 09:48am

Energy

Oil climbs 1% to 3-week high as more sanctions loom on Russia, Iran

Brent futures rise 67 cents, or 0.9%, to $74.08 a barrel

Updated 13 Dec, 2024 09:57pm

Industry

‘Majority of SMEs have no access to formal financing’

ISLAMABAD: Small and Medium Enterprises (SMEs) are playing a role of the backbone of the national economy,...

Published 13 Dec, 2024 08:33am

Minister calls for structural and operational reforms in TDAP

ISLAMABAD: The Federal Minister for Commerce, Jam Kamal Khan, presided over the 11th Board Meeting of the Trade...

Published 13 Dec, 2024 08:30am

Companies

Pakistan’s LAAM Technologies raises $5.5mn seed funding

KARACHI: Pakistan-based technology-driven fashion startup, LAAM Technologies has successfully raised $5.5 million in...

Updated 13 Dec, 2024 11:02pm

Energy

Significant cut in POL products’ prices likely

ISLAMABAD: The federal government is considering a significant reduction in ex-depot prices for petroleum ...

Published 13 Dec, 2024 08:28am

Industry

Chinese CG pays special visit to LCCI

LAHORE: The Chinese Consul General in Lahore Zhao Shiren has paid a special visit to the Lahore Chamber of Commerce...

Published 13 Dec, 2024 08:26am

Energy

Outsandings against provincial depts/entities: Power minister seeks CMs’ intervention for recovery

ISLAMABAD: Minister for Power, Sardar Awais Ahmed Khan Leghari has sought personal interventions of chief ministers...