News Archives for Business & Finance - 2025-01-17

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Business & Finance - 2025-01-17

Industry

Afghan transit trade: ECC okays insurance guarantee for DAP imports

Economic Coordination Committee authorises Finance Division to approve payment of projected Rs935.78mn in net salaries of Pakistan Steel Mills employees for FY25

Published 17 Jan, 2025 10:18pm

USA

US Supreme Court upholds law banning TikTok from January 19

WASHINGTON: The U.S. Supreme Court upheld on Friday a law banning TikTok in the United States on national security...

Published 17 Jan, 2025 09:13pm

Companies

PIA apologises for controversial Eiffel Tower advert

Pakistan national airline draws criticism over ad published to mark first flight to Paris after safety ban lifted

Updated 17 Jan, 2025 10:33pm

Stocks

UAE bourses close lower ahead of fourth-quarter earnings

Stock markets in the United Arab Emirates closed lower on Friday, despite rising oil prices, ahead of the upcoming...

Published 17 Jan, 2025 07:52pm

Forex

India’s forex reserves slump to 10-month low amid sliding rupee

MUMBAI: India’s foreign exchange reserves extended their losing streak for a sixth straight week and stood at a...

Published 17 Jan, 2025 06:46pm

Energy

Global LNG: Asian spot LNG slips amid healthy stocks, weak demand

SINGAPORE: Asian spot liquefied natural gas (LNG) prices slightly declined this week, weighed by healthy inventory...

Published 17 Jan, 2025 06:42pm

Stocks

IT stocks drags Indian equity benchmarks to weekly losses

India’s benchmark indexes declined on Friday and logged weekly losses as IT companies tumbled on mounting worries...

Published 17 Jan, 2025 06:22pm

Stocks

Utilities, communication services stocks boost Sri Lanka shares

CSE All-Share index settled up 0.26% at 16,257.31

Published 17 Jan, 2025 06:19pm

Commodities

Aluminium, copper rise on strong Chinese data

LONDON: Aluminium prices rose on Friday to the highest in almost eight weeks, while copper hit a five-week high as...

Published 17 Jan, 2025 06:17pm

Commodities

Palm posts weekly drop, weighed down by rival oils

JAKARTA: Malaysian palm oil futures posted a weekly drop despite ending higher on Friday amid sluggish demand from...

Published 17 Jan, 2025 06:15pm

Bullion Rate

Gold price per tola increases Rs400 in Pakistan

Gold prices in Pakistan increased on Friday in line with their rise in international rates. In the local market, the...

Published 17 Jan, 2025 05:12pm

Statistics

1HFY25 FDI clocks in at $1.3bn, up 20% YoY

Net Foreign Direct Investment (FDI) in Pakistan grew 20% during the first half of the ongoing fiscal year (1HFY25),...

Updated 17 Jan, 2025 07:22pm

Forex

South African rand firms ahead of Trump inauguration

JOHANNESBURG: South Africa’s rand strengthened in cautious trade on Friday, as investor focus shifted towards US...

Published 17 Jan, 2025 02:16pm

Stocks

European shares on track for fourth straight weekly gain as yields fall

European shares advanced in broad-based gains on Friday as government bond yields continued to ease, keeping the...

Published 17 Jan, 2025 02:14pm

Forex

Kenyan shilling stable against dollar, LSEG data shows

NAIROBI: Kenya’s shilling was stable against the US dollar on Friday, data from the London Stock Exchange Group...

Published 17 Jan, 2025 02:12pm

Energy

OPEC’s share in India’s annual oil imports rises after 8-year drop

NEW DELHI: OPEC’s share in India’s crude oil imports edged up in 2024, rising for the first time in nine years,...

Published 17 Jan, 2025 02:04pm

Commodities

China Dec aluminium output rises 4.2% y/y to 3.77mn metric tons

SHANGHAI: China’s aluminium production rose by 4.2% to 3.77 million metric tons in December from a year earlier,...

Published 17 Jan, 2025 12:32pm

Forex

Australian, NZ dollars set for first weekly gain in seven, but bearish trend persists

SYDNEY: The Australian and New Zealand dollars are on track for their first weekly gain in seven on Friday, but...

Published 17 Jan, 2025 12:30pm

Commodities

Corn heads for weekly gain on tighter supply outlook

CANBERRA: Chicago corn futures rose on Friday and were headed for a second consecutive weekly gain, underpinned by a...

Published 17 Jan, 2025 12:18pm

Forex

Yuan on track to snap 4-week losing streak after GDP surprise

HONG KONG: The yuan strengthened against the dollar on Friday and looked set for its first weekly gain in over a...

Published 17 Jan, 2025 12:06pm

Commodities

Iron ore heads for weekly gains on better China data, resilient demand

BEIJING: Iron ore futures ticked up on Friday to head for a weekly rise at four-week-high levels as a raft of...

Published 17 Jan, 2025 12:02pm

Malaysia’s economy grew 4.8% y/y in Q4, official advance estimates show

KUALA LUMPUR: Malaysia’s economy grew 4.8% in the fourth quarter from a year earlier, official advance estimates...

Published 17 Jan, 2025 11:59am

Forex

Asian currencies rise on softer dollar, stocks mixed

Most Asian currencies firmed on Friday, gathering momentum from a muted greenback ahead of Donald Trump’s return to...

Published 17 Jan, 2025 11:51am

Commodities

Palm set for third weekly drop, weighed down by rival oils

JAKARTA: Malaysian palm oil futures declined for a fourth straight session on Friday and were set to post their...

Published 17 Jan, 2025 11:48am

Statistics

Pakistan’s REER index clocks in at 103.7 in December 2024

Pakistan’s Real Effective Exchange Rate (REER), a measure of the value of a currency against a weighted average of...

Updated 17 Jan, 2025 07:58pm

Commodities

Group in Thailand bought some 195,000 T feed wheat, traders say

HAMBURG: The TFMA group of animal feed importers in Thailand is believed to have purchased around 195,000 metric...

Published 17 Jan, 2025 11:43am

Mutual Funds

JGB yields track US Treasury yields lower

TOKYO: Japanese government bond yields slipped on Friday after US Treasury yields fell overnight following remarks...

Published 17 Jan, 2025 11:41am

Reliance gains as retail, telecom growth fuels Q3 profit beat

Shares of Reliance Industries climbed as much as 5% in early trade on Friday, after the country’s most valuable...

Published 17 Jan, 2025 11:32am

Stocks

China, HK stocks rise on better-than-expected China economic data

SHANGHAI: China and Hong Kong stocks rose on Friday and were set to end the week higher as a slew of...

Published 17 Jan, 2025 11:30am

Stocks

South Korean shares track Wall Street lower; set for weekly rise

KOSPI was down 4.50 points, or 0.18%, at 2,522.99

Published 17 Jan, 2025 11:28am

Stocks

Stocks rebound as KSE-100 gains over 1,400 points

The Pakistan Stock Exchange (PSX) saw a return of positivity with the benchmark KSE-100 Index gaining over 1,400...

Updated 17 Jan, 2025 10:40pm

Currency

Rupee registers gain against US dollar

Currency settles at 278.71 against the greenback in inter-bank market

Updated 17 Jan, 2025 10:47pm

Nearly 86% of Japan households see prices rising a year from now, survey shows

TOKYO: About 85.7% of Japanese households expect prices to rise a year from now, a quarterly central bank survey in...

Published 17 Jan, 2025 10:52am

Bullion Rate

Gold poised for third weekly gain on Fed rate cut bets

Gold held firm near a five-week high on Friday and was set for a third straight week of gains, as US inflation data...

Published 17 Jan, 2025 10:49am

Mutual Funds

India bond yields seen little changed before debt supply

MUMBAI: Indian government bond yields are expected to be little changed in early deals on Friday as market...

Published 17 Jan, 2025 10:46am

Stocks

India’s benchmark indexes set to open little changed

India’s benchmark indexes are expected to open largely flat on Friday as investors assess the quarterly results of...

Published 17 Jan, 2025 10:43am

Stocks

Japan’s Nikkei falls ahead of Trump inauguration; firmer yen hurts exporters

TOKYO: Japan’s Nikkei share average fell on Friday amid caution ahead of market reaction to President-elect Donald...

Published 17 Jan, 2025 10:41am

Stocks

Australian shares flat; Rio Tinto drags miners down after potential merger talks

Australian shares traded flat on Friday, with gains in healthcare firms offset by losses in miners, including Rio...

Published 17 Jan, 2025 10:39am

Business & Economy

Pakistan registers massive $582mn current account surplus in December 2024

This is fifth consecutive month of current account surplus

Updated 17 Jan, 2025 09:04pm

Real Estate

China’s property investment drops 10.6% in 2024, sales slump 12.9%

BEIJING: Property investment in China fell 10.6% in 2024, after tumbling 10.4% year-on-year in the first eleven...

Published 17 Jan, 2025 08:35am

Forex

Prospect of Fed rates cut to help Indian rupee amid Trump worries

MUMBAI: The Indian rupee, on Friday, will likely get support from remarks by a Federal Reserve official that the...

Published 17 Jan, 2025 08:33am

Nintendo to release Switch 2 this year; shares slide 6%

TOKYO: Japan’s Nintendo said on Thursday it will release the Switch 2 console this year, unveiling a device that...

Published 17 Jan, 2025 08:28am

World Bank warns that US tariffs could reduce global growth outlook

WASHINGTON: The World Bank on Thursday warned that U.S. across-the-board tariffs of 10% could reduce already...

Published 17 Jan, 2025 08:22am

China’s economic growth surpasses forecasts on stimulus push

BEIJING: China’s economy ended 2024 on better footing than expected helped by a flurry of stimulus measures,...

Published 17 Jan, 2025 08:18am

Forex

Yen set for best week in over a month on BOJ rate hike bets

SINGAPORE: The yen was poised for its strongest weekly performance in over a month as expectations grow that the...

Published 17 Jan, 2025 08:14am

Stocks

Asia stocks fall despite China GDP beat; bond yields drop with Fed in focus

TOKYO: The tone in global stocks turned weaker on Friday as Asian shares tracked overnight losses on Wall Street,...

Published 17 Jan, 2025 08:09am

Forex

Oil set for fourth straight week of gains as investors assess US sanctions

LONDON: Oil prices moved lower on Friday but remained on course for a fourth consecutive week of gains, as the...

Updated 17 Jan, 2025 08:06pm

Companies

Boeing resumes 777X test flights after grounding in August

SEATTLE: Boeing resumed testing for its long-delayed 777X wide body jet on Thursday, with the first flight since the...

Published 17 Jan, 2025 08:00am

UAE confirms rollover of $2bn deposits

KARACHI: The United Arab Emirates (UAE) has confirmed rollover of $2 billion deposits placed with the State Bank of...