News Archives for Business & Finance - 2024-12-20

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Business & Finance - 2024-12-20

Commodities

Unilever, FrieslandCampina fined for marketing ‘frozen desserts’ as ‘ice cream’

The Competition Commission of Pakistan (CCP) has imposed a cumulative penalty of Rs170 million on manufacturers and...

Updated 20 Dec, 2024 10:24pm

Stocks

UAE markets gain ahead of key US inflation data

Stock exchanges in the United Arab Emirates advanced on Friday, with Abu Dhabi leading the charge ahead of key U.S....

Published 20 Dec, 2024 06:51pm

Bullion Rate

Gold price per tola falls further Rs2,000 in Pakistan

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

Updated 20 Dec, 2024 10:35pm

Forex

India’s forex reserves dip to nearly six-month low

India’s foreign exchange reserves fell by nearly $2 billion to an almost six-month low of $652.87 billion as of Dec....

Published 20 Dec, 2024 05:51pm

Commodities

Copper set for weekly fall on strong dollar, concerns about demand prospects

LONDON: Copper prices remained close to a five-week low on Friday and were on track for a second consecutive weekly...

Published 20 Dec, 2024 05:34pm

Companies

Foxconn interest in Nissan on hold amid Honda merger talks

Taiwan’s Foxconn is pausing its interest in Nissan Motor as the Japanese automaker explores a potential merger with...

Published 20 Dec, 2024 05:09pm

USA

Trump wants EU to buy more US oil and gas or face tariffs

US President-elect Donald Trump said on Friday that the European Union may face tariffs if the bloc does not cut its...

Updated 20 Dec, 2024 11:20pm

Stocks

Indian equity benchmarks snap 4-week rising streak as Fed outlook hurts

Indian shares plunged on Friday, with the benchmarks logging their first weekly decline in five weeks, as sentiment...

Published 20 Dec, 2024 04:48pm

Stocks

Sri Lanka shares end higher for 19th straight session

CSE All-Share index settled 1.07% higher at 14,810.70

Published 20 Dec, 2024 04:46pm

Commodities

Palm extends losses, logs second weekly loss

KUALA LUMPUR: Malaysian palm oil futures ended lower on Friday and posted a second consecutive weekly loss,...

Published 20 Dec, 2024 04:44pm

PM Shehbaz calls for early completion of Business Facilitation Centres

Prime Minister Shehbaz Sharif on Friday directed authorities to expedite the completion of Business Facilitation...

Updated 20 Dec, 2024 10:08pm

Forex

South African rand recovers some ground against dollar

JOHANNESBURG: South Africa’s rand recovered some losses on Friday after a slight improvement in risk sentiment. At...

Published 20 Dec, 2024 02:14pm

Stocks

European stocks slide as Trump’s warning spooks investors

European shares were on course to post their worst week in three months on Friday, as US President-elect Donald...

Published 20 Dec, 2024 02:12pm

Forex

Russian rouble edges up vs dollar ahead of rate decision

MOSCOW: The Russian rouble strengthened against the US dollar and China’s yuan on Friday, ahead of an anticipated...

Published 20 Dec, 2024 02:10pm

France’s debt grows further in challenge to new PM

PARIS: France’s public debt pile grew further in the third quarter, official data showed Friday, posing another...

Published 20 Dec, 2024 01:48pm

Commodities

China’s 2025 steel demand to fall 1.5% on year, state research institute says

BEIJING: China’s steel demand is forecast to fall 1.5% in 2025 and drop 4.4% in 2024 from the year before, the...

Published 20 Dec, 2024 12:34pm

Mutual Funds

JGB yields slide to one-month lows on dovish BOJ signals

TOKYO: Japanese government bond yields dropped to the lowest in a month on Friday, a day after Bank of Japan...

Published 20 Dec, 2024 12:21pm

Forex

Thai baht weaker vs US dollar at 0231 GMT

BANGKOK: The Thai baht dropped in morning trade on Friday as the US dollar remained supported by a hawkish US rate...

Published 20 Dec, 2024 12:19pm

Stocks

South Korean shares set to post weekly loss on hawkish Fed

SEOUL: Round-up of South Korean financial markets: South Korean shares fall on caution ahead of central bank events...

Published 20 Dec, 2024 12:16pm

Stocks

China stocks rise, led by tech and banking shares; HK gaming stocks fall

SHANGHAI: China stocks rose on Friday, as signs of fresh Sino-US tensions in technology fuelled bets on shares of...

Published 20 Dec, 2024 12:03pm

Energy

China’s Nov fuel oil imports extend gains to seven-month high

SINGAPORE: China’s fuel oil imports hit their highest in seven months for November, customs data showed on Friday,...

Published 20 Dec, 2024 11:58am

Colombia’s central bank board seen making 50 bp cut at last 2024 meeting

BOGOTA: The board of Colombia’s central bank will meet on Friday for its last meeting of the year, where analysts...

Published 20 Dec, 2024 11:54am

Commodities

Iron ore heads for weekly loss as seasonally weak demand weighs

BEIJING: Iron ore futures prices were rangebound on Friday but were set for a weekly loss, pressured by the...

Published 20 Dec, 2024 11:51am

Commodities

Palm recoups early losses after Indonesia hikes export levy, but set for weekly loss

KUALA LUMPUR: Malaysian palm oil futures recovered early declines on Friday after Indonesia hiked its export levy,...

Published 20 Dec, 2024 11:49am

Commodities

Copper rebounds from 5-week low, firmer dollar caps gains

SHANGHAI: Copper prices rebounded on Friday from a five-week low touched in the last session, as most base metals...

Published 20 Dec, 2024 11:47am

Stocks

KSE-100 gains over 3% as buying returns to PSX

Experts say recent correction created buying opportunity for investors

Updated 20 Dec, 2024 11:16pm

Forex

China’s yuan heads for weekly fall as yield gap with US widens

SHANGHAI: China’s yuan was steady against the dollar on Friday, helped by firmer central bank guidance but was...

Published 20 Dec, 2024 11:36am

Thailand expects cash flow of $2bn from tax break plan, official says

BANGKOK: Thailand expects a new tax break on consumption could create extra cash flow of 70 billion baht ($2...

Published 20 Dec, 2024 11:34am

Malaysia’s November CPI rises 1.8% y/y, less than forecast

KUALA LUMPUR: Malaysia’s consumer price index rose 1.8% in November from a year earlier, government data showed on...

Published 20 Dec, 2024 11:30am

Commodities

China’s Nov soy imports from Brazil falls 25% y/y, US arrivals jump

BEIJING: China’s soybean imports from Brazil shrank 25% in November from a year earlier, while shipments from the...

Published 20 Dec, 2024 11:27am

Mutual Funds

India bond traders eye debt sale, central bank minutes for further cues

MUMBAI: Indian government bond yields were largely unchanged in early deals on Friday, with the benchmark bond...

Published 20 Dec, 2024 11:19am

Philippine central bank governor says open to rate cut in early 2025

MANILA: The Philippine central bank is open to cutting rates at its first policy meeting in 2025, and is monitoring...

Published 20 Dec, 2024 11:16am

Stocks

Japan’s Nikkei set for weekly decline despite weak yen tailwind

TOKYO: Japan’s Nikkei share average on Friday was headed for its worst week since early November despite the...

Published 20 Dec, 2024 11:13am

Commodities

Strong US dollar pushes wheat closer to four-year lows

CANBERRA: Chicago wheat futures edged higher on Friday, but were set for a 3.5% weekly drop, pressured by a firmer...

Published 20 Dec, 2024 11:09am

Forex

South Korea to ease FX regulations to improve liquidity conditions

SEOUL: South Korea’s financial authorities said on Friday they would loosen foreign exchange regulations to improve...

Published 20 Dec, 2024 11:07am

Stocks

Australian shares extend losses for second straight session

Australian shares extended losses for the second straight session, dragged down by commodity stocks, a day after the...

Published 20 Dec, 2024 11:04am

Bullion Rate

Gold set for weekly drop; traders await US data for cues

Gold prices were set for a weekly decline on Friday after the Federal Reserve’s verdict on its monetary...

Published 20 Dec, 2024 10:59am

Forex

No relief for Indian rupee as robust US data supports Fed’s hawkish stance

MUMBAI: The Indian rupee is likely to hold near its all-time low at the open on Friday after robust US data...

Updated 20 Dec, 2024 11:17am

Stocks

Indian shares set for muted open, IT in focus after upbeat Accenture results

Indian shares are set for a muted open on Friday after the previous session’s declines on concerns over a slower...

Published 20 Dec, 2024 10:54am

Stocks

Hoechst Pakistan plans to establish subsidiary in UAE

To capitalize on the business-friendly environment in the United Arab Emirates (UAE), another listed Pakistani...

Updated 20 Dec, 2024 10:33pm

Exchange

Rupee records slight decline against US dollar

Currency settles at 278.42 against greenback in inter-bank market

Updated 20 Dec, 2024 10:29pm

Japan’s core inflation accelerates, keeps BOJ rate-hike chance alive

TOKYO: Japan’s core inflation accelerated in November as rising food and fuel costs hit households, data showed on...

Published 20 Dec, 2024 08:53am

Nike warns its turnaround will be a slog, after results beat expectations

Nike, offered a muted forecast on Thursday, reversing gains in its shares made earlier in the day after the...

Published 20 Dec, 2024 08:14am

Stocks

Asian shares pinned near three-month lows, dollar towers at 2-yr peak

SYDNEY: Asian shares were pinned near three-month lows on Friday as investors awaited key U.S. inflation data that...

Published 20 Dec, 2024 08:06am

Forex

Dollar set to end week on a high, yen at five-month low

SINGAPORE: The dollar was set to cap the week on a strong note on Friday as it was perched near a two-year high...

Published 20 Dec, 2024 07:59am

Starbucks workers’ union to strike in LA, Chicago, Seattle before Christmas

The workers’ union representing more than 10,000 Starbucks baristas said its members will strike at stores in Los...

Published 20 Dec, 2024 07:53am

Energy

Oil falls on strong dollar, demand growth worries

HOUSTON: Oil prices eased on Friday due to a strong dollar and worries about demand growth in 2025, especially in...

Updated 20 Dec, 2024 09:45pm

Industry

Govt debt securities: NCCPL and Ping Up team up to facilitate investors

KARACHI: National Clearing Company of Pakistan Limited (NCCPL) has collaborated with Ping Up (Private) Limited, a...