News Archives for Business & Finance - 2025-01-16

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Business & Finance - 2025-01-16

Business & Economy

UAE confirms rollover of $2bn loan to Pakistan: SBP

The United Arab Emirates (UAE) has confirmed the rollover of its two deposits of $1 billion each, the State Bank of...

Published 16 Jan, 2025 10:19pm

Interest Rates

US could cut interest rates 3 or 4 times this year: Fed official

WASHINGTON: The US Federal Reserve could cut rates three or four times this year if inflation data cooperates, with...

Published 16 Jan, 2025 09:47pm

Forex

SBP-held foreign exchange reserves increase $30mn, now stand at $11.72bn

Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $30 million on a weekly basis,...

Updated 16 Jan, 2025 10:11pm

Stocks

Selling continues, KSE-100 sheds over 650 points

Selling pressure persisted at the Pakistan Stock Exchange (PSX), as the benchmark KSE-100 settled below the 114,000...

Updated 16 Jan, 2025 10:43pm

Forex

Russian rouble flat vs US dollar, China’s yuan

MOSCOW: The Russian rouble held steady against both the US dollar and the Chinese yuan on Thursday as increased...

Published 16 Jan, 2025 03:24pm

Commodities

Gold price per tola jumps Rs1,400 in Pakistan

Gold prices in Pakistan increased further on Thursday in line with their rise in international rates. In the local...

Published 16 Jan, 2025 03:17pm

Commodities

Iron ore hits four-week high on lower shipments, softer dollar

BEIJING: Prices of iron ore futures climbed to a four-week high on Thursday, supported by reduced shipments from a...

Published 16 Jan, 2025 02:10pm

Stocks

Luxury firms, chipmakers boost Europe’s STOXX 600 to five-week high

European shares jumped on Thursday, as heavyweight luxury stocks got a boost following Richemont’s upbeat earnings...

Published 16 Jan, 2025 02:08pm

Forex

Kenyan shilling holds ground against dollar

The shilling traded at 129.25/129.75 per dollar

Published 16 Jan, 2025 02:05pm

Stocks

Most Gulf markets gain on hopes of Fed rate cut, Gaza ceasefire

Most stock markets in the Gulf rose in early trade on Thursday, as softer US core inflation data maintained the...

Published 16 Jan, 2025 02:03pm

Stocks

China and Hong Kong stocks edge up in a broader Asian rally

HONG KONG: China and Hong Kong shares edged up on Thursday to join a broader rally in Asia, with sentiment buoyed by...

Published 16 Jan, 2025 12:54pm

Forex

China’s yuan hovers near 16-month low, hopes rise for cut in reserve ratio

HONG KONG: China’s yuan was largely flat against the dollar on Thursday and trading near a 16-month low, as...

Published 16 Jan, 2025 12:51pm

Commodities

Palm falls on weak rival oil prices, export data

JAKARTA: Malaysian palm oil futures fell to the lowest in more than three months on Thursday, dragged down by...

Published 16 Jan, 2025 12:47pm

Renault 2024 sales volumes grow 1.3%, helped by hybrids

PARIS: French automaker Renault said on Thursday that sales grew by 1.3% in 2024, with a strong fourth quarter...

Published 16 Jan, 2025 12:43pm

Commodities

Corn hovers near 13-month high as drought grips Argentina

CANBERRA: Chicago corn futures eased on Thursday, but remained close to a 13-month high on the US government...

Published 16 Jan, 2025 12:38pm

Stocks

Australian shares hit 1-week closing high, banks and tech stocks lead gains

Australian shares rose more than 1% on Thursday, led by banks and technology stocks, as solid US bank earnings and...

Published 16 Jan, 2025 12:37pm

Mutual Funds

JGB yields slide on strong auction, plunge in US yields

TOKYO: Japanese government bond yields dropped on Thursday amid pressure from a steep slide in US Treasury yields...

Published 16 Jan, 2025 12:28pm

Energy

Race to renewables: Attock Cement commissions 4.8MW windmill project

As Pakistan’s corporate sector increasingly turns to renewable energy to meet its power needs, Attock Cement became...

Updated 16 Jan, 2025 12:48pm

Commodities

Jordan tenders to buy up to 120,000 metric tons feed barley, traders say

HAMBURG: Jordan’s state grains buyer has issued an international tender to purchase up to 120,000 metric tons of...

Published 16 Jan, 2025 12:19pm

UK economy inches up by lower-than-expected 0.1% in November

LONDON: Britain’s economic output inched up by a lower-than-expected 0.1% in November compared with October, data...

Published 16 Jan, 2025 12:11pm

Commodities

German Q4 2024 cocoa grind down 7.6% on year, BDSI says

HAMBURG: Germany’s fourth quarter 2024 cocoa grind fell 7.6% on the year to 90,066 metric tons, the German...

Published 16 Jan, 2025 12:10pm

Stocks

South Korean shares pare early gains after central bank holds rate in surprise move

The benchmark KOSPI closed up 30.68 points, or 1.23%, at 2,527.49

Published 16 Jan, 2025 12:08pm

Energy

Qatar hikes March al-Shaheen oil term price to over 2-year high

SINGAPORE: QatarEnergy has raised the term price for al-Shaheen crude oil loading in March, trade sources said on...

Published 16 Jan, 2025 12:04pm

TSMC’s Q4 profit rises 57% to a record, in line with forecast

TAIPEI: Taiwanese chipmaker TSMC said fourth-quarter net profit rose 57% to a record on Thursday, in line with...

Published 16 Jan, 2025 11:34am

Companies

Greentree Holdings offers to acquire 35% stake in TRG Pakistan for Rs14.4bn

Greentree Holdings Limited announced a public offer to acquire up to 35.147% shareholding in TRG Pakistan Limited,...

Updated 16 Jan, 2025 06:47pm

Companies

Chinese buyers interested in unwanted German Volkswagen factories, source says

FRANKFURT/BERLIN: Chinese officials and automakers are eyeing German factories slated for closure and are...

Published 16 Jan, 2025 11:32am

Companies

Carmakers in India plan EV onslaught in 2025 despite slowing global demand

NEW DELHI: Automakers operating in India plan to launch close to a dozen new electric car models this year, many in...

Published 16 Jan, 2025 11:21am

Forex

Australian dollar steadies, gets limited lift from strong jobs data

SYDNEY: The Australian dollar got only a brief blip higher on Thursday after data showed a surprisingly strong jump...

Published 16 Jan, 2025 11:17am

Bullion Rate

Gold prices hover near 1-month peak on renewed rate-cut hopes

Gold prices were stable on Thursday after hitting their highest levels in more than a month, as softer US core...

Published 16 Jan, 2025 11:08am

Stocks

Indian shares open higher after US inflation relief

Indian shares opened higher on Thursday, tracking other Asian peers, after underlying US inflation softened in...

Published 16 Jan, 2025 11:06am

Stocks

US bank earnings, cooling inflation boost Japan’s Nikkei, but firm yen caps gains

TOKYO: Japan’s Nikkei share average climbed on Thursday, tracking a rally on Wall Street amid robust US bank...

Published 16 Jan, 2025 11:04am

Mutual Funds

India bond yields set to ease, US inflation data reignites Fed rate cut bets

MUMBAI: Indian government bond yields are expected to ease on Thursday, tracking a fall in US Treasury yields, after...

Published 16 Jan, 2025 10:53am

Currency

Rupee records marginal decline against US dollar

Currency settles at 278.86 against the greenback in inter-bank market

Updated 16 Jan, 2025 09:31pm

Forex

Indonesian rupiah, Korean won decline after central banks’ surprise decisions

The Indonesian rupiah hit a more than six-month low on Thursday while the South Korean won snapped a three-day...

Published 16 Jan, 2025 10:43am

Prime Minister’s Youth Programme: loan limit for SMEs raised to Rs1.5mn

Prime Minister Shehbaz Sharif on Thursday directed authorities to increase the loan amount under the Prime...

Published 16 Jan, 2025 10:42am

Energy

South Korea looking at buying more US oil and gas, energy minister says

SEOUL: South Korea is interested in importing more US oil and gas to diversify energy sources and ensure stable...

Published 16 Jan, 2025 10:41am

ECB’s Centeno sees interest rates falling to about 2% as inflation under control

LISBON: The European Central Bank should continue to lower interest rates to about 2% as inflation in the euro zone...

Published 16 Jan, 2025 08:33am

Stocks

Stocks rise with US rate cuts back in view; yen at one-month high

SINGAPORE/NEW YORK: Asian shares tracked Wall Street higher on Thursday and the dollar was soft as easing core U.S....

Published 16 Jan, 2025 08:28am

Japan wholesale inflation steady near 4%, keeps alive BOJ rate-hike chance

TOKYO: Japan’s annual wholesale inflation held steady at 3.8% in December on stubbornly high food costs, data showed...

Published 16 Jan, 2025 08:24am

Forex

Indian rupee may not build on recovery despite renewed Fed rate-cut hopes

MUMBAI: The non-deliverable forwards indicated that the Indian rupee is unlikely to recover more on Thursday despite...

Published 16 Jan, 2025 08:21am

Companies

US says Toyota unit to plead guilty, pay over $1.6bn to settle fraud scheme

WASHINGTON: A Toyota Motor Corp, unit agreed to plead guilty and pay over $1.6 billion in a settlement with U.S....

Published 16 Jan, 2025 08:18am

Apple Q4 iPhone shipments in China drop 25% as Huawei closes in, Canalys data shows

BEIJING: Apple’s, smartphone shipments in China plunged 25% in the fourth quarter of 2024, data from research firm...

Published 16 Jan, 2025 08:13am

Forex

US inflation relief dents dollar, yen gains ahead of BOJ

SINGAPORE: The dollar slipped on Thursday to stand just off recent peaks as cooling U.S. inflation data knocked down...

Published 16 Jan, 2025 08:10am

Canada could slap tariffs on C$150 billion worth of US imports, source says

OTTAWA: Canada could impose countermeasures on up to C$150 billion worth of U.S. imports if President-elect Donald...

Published 16 Jan, 2025 08:04am

Energy

Oil falls as halt to Houthi shipping attacks expected

HOUSTON: Oil prices slipped on Thursday with Yemen’s Houthi militia expected to halt attacks on ships in the Red...

Updated 16 Jan, 2025 09:37pm

Money & Banking

Asian currencies: Rupiah hits over 5-month low

BENGALURU: Indonesia’s rupiah fell to its lowest in more than five months on Wednesday ahead of the central...