News Archives for Business & Finance - 2025-01-20

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Business & Finance - 2025-01-20

Companies

Facebook, X, YouTube to do more against online hate speech, EU says

BRUSSELS: Meta’s Facebook, Elon Musk’s X, Google’s YouTube and other tech companies have agreed to do more to tackle...

Published 20 Jan, 2025 09:53pm

Commodities

Copper jumps to 1-month peak after Trump shelves tariffs, for now

LONDON: Copper prices jumped to their highest in more than a month after Donald Trump was quoted as saying the...

Published 20 Jan, 2025 09:31pm

Business & Economy

Ministries directed to prioritise objectives in line with Uraan Pakistan

Planning minister Ahsan Iqbal on Monday asked all concerned ministries to prioritise their objectives in line with...

Published 20 Jan, 2025 09:23pm

Stocks

Kotak Mahindra Bank, Wipro lead rise in India’s benchmark indexes

India’s benchmark indexes advanced on Monday, led by gains in Kotak Mahindra Bank and Wipro after their...

Published 20 Jan, 2025 04:38pm

Stocks

Sri Lankan shares end higher as utilities, consumer discretionary stocks gain

CSE All Share index settled 0.7% higher at 16,373.15

Published 20 Jan, 2025 04:36pm

Commodities

Palm tracks Dalian oils higher, weak exports cap gains

JAKARTA: Malaysian palm oil futures rose for a second session on Monday, supported by strength in Dalian vegetable...

Published 20 Jan, 2025 04:33pm

Commodities

Pakistan’s Reko Diq mine to generate $74bn in free cash flow over 37 years, Barrick CEO says

Project expected to start production by end of 2028

Updated 20 Jan, 2025 10:18pm

Commodities

Gold price per tola increases Rs500 in Pakistan

After declining in the previous session, gold prices in Pakistan rose on Monday in line with their increase in...

Published 20 Jan, 2025 03:55pm

Energy

Rousch Power transfers complex to government entity after CPPA settlement

Rousch (Pakistan) Power Limited (RPPL), an Independent Power Producer (IPP), has handed over its complex to the...

Updated 20 Jan, 2025 07:41pm

Currency

Bitcoin hits record above $109,000 awaiting Trump

LONDON: Bitcoin hit a record high above $109,000 on Monday as Donald Trump, who has signalled plans to deregulate...

Published 20 Jan, 2025 02:44pm

Mutual Funds

Euro zone bond yields slip with focus on Trump inauguration

LONDON: Euro zone bond yields eased in early trading on Monday, with investor focus on the inauguration of Donald...

Published 20 Jan, 2025 02:37pm

Stocks

European shares steady as Trump’s inauguration takes centre stage

European shares edged higher on Monday, supported by banks and technology stocks, as investors braced for Donald...

Published 20 Jan, 2025 02:35pm

Commodities

Ivory Coast 2024/25 cocoa arrivals up 24.7% as of January 19

ABIDJAN: Cocoa arrivals at ports in top grower Ivory Coast had reached 1.191 million metric tons by Jan. 19 since...

Published 20 Jan, 2025 02:33pm

Energy

LNG traders divert six US cargoes to Europe from Asia

SINGAPORE: Traders diverted at least six cargoes of liquefied natural gas that were on course for Asia to Europe...

Published 20 Jan, 2025 02:32pm

Stocks

Major Gulf markets gain on Gaza ceasefire

Major stock markets in the Gulf rose in early trade on Monday, helped by the ceasefire deal between Israel and...

Published 20 Jan, 2025 02:28pm

China’s BYD to complete $1 billion Indonesia plant by end-2025, executive says

JAKARTA: China’s top electric vehicle maker BYD aims to complete its $1 billion plant in Indonesia at the end of...

Published 20 Jan, 2025 02:26pm

Bullion Rate

Gold trims losses, investors await Trump’s inauguration speech

Gold cut early losses on Monday as investors looked forward to Donald Trump’s inauguration speech for clarity on the...

Published 20 Jan, 2025 02:08pm

Energy

Nuclear power dominates as Pakistan’s electricity generation increases 1% in December 2024

Power generation in Pakistan clocked in at 7,800 GWh (10,484 MW) in December 2024, an increase of 1% YoY compared to...

Updated 20 Jan, 2025 06:55pm

Malaysia’s December exports rise 16.9% y/y, above forecast

KUALA LUMPUR: Malaysia’s exports rose 16.9% in December, above market expectations, government data showed on...

Published 20 Jan, 2025 02:02pm

Commodities

Copper retreats from 1-month high on dollar strength, US policy uncertainty

SHANGHAI: Most base metals, including copper, which touched a one-month high last week, declined on Monday due to a...

Published 20 Jan, 2025 01:08pm

Commodities

Iron ore flat as supply concerns ease amid improving China sentiment

SINGAPORE: Dalian iron ore futures traded flat on Monday as traders weighed the easing supply concerns and lagging...

Published 20 Jan, 2025 01:07pm

Forex

China’s yuan rises to over two-week high on positive US-China talk, better economic data

HONG KONG: China’s yuan rose on Monday to its highest against the dollar since Jan. 3 buoyed by a friendly call...

Published 20 Jan, 2025 01:04pm

Commodities

US soybean market share in China shrinks in 2024, replaced

BEIJING: China’s soybean imports from the United States dropped 5.7% in 2024 from the previous year and were...

Published 20 Jan, 2025 01:02pm

Mutual Funds

Indian bond yields a tad higher as caution prevails before Trump takes charge

MUMBAI: Indian government bond yields edged up cautiously on Monday, the start of an important week that will see...

Published 20 Jan, 2025 01:01pm

Stocks

China, HK stocks rally as Trump-Xi call calms nerves

HONG KONG: China and Hong Kong stocks jumped on Monday as US President-elect Donald Trump and Chinese President Xi...

Published 20 Jan, 2025 01:00pm

Mutual Funds

JGB yields ease ahead of Trump inauguration, BOJ policy decision

TOKYO: Japanese government bond yields eased on Monday as traders braced for potential volatility ahead of Donald...

Published 20 Jan, 2025 12:51pm

Mutual Funds

Philippines awards $472mn T-bill offer

MANILA: Following are the results of the Philippine Bureau of the Treasury’s (BTr) auction of T-bills on Monday:...

Published 20 Jan, 2025 12:48pm

Money & Banking

Monetary Policy Committee to meet on January 27: SBP

The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) will meet on Monday, January 27, 2025, to...

Updated 20 Jan, 2025 07:57pm

Energy

Iran raises February light crude price to Asia

Iran has set the official selling price (OSP) for its light crude oil grade for Asian buyers at $1.95 a barrel above...

Published 20 Jan, 2025 12:45pm

Forex

Asian currencies, equities edge higher ahead of Trump’s new term

Asian currencies nudged higher on Monday, supported by a pause in the dollar rally ahead of US President-elect...

Published 20 Jan, 2025 12:43pm

Commodities

Palm oil climbs on bargain buying, strength in Dalian oils

JAKARTA: Malaysian palm oil futures rose for a second session on Monday, supported by strength in Dalian vegetable...

Published 20 Jan, 2025 12:40pm

Energy

China’s crude oil imports from top supplier Russia reach new high in 2024

SINGAPORE: China’s crude oil imports from top supplier Russia were up 1% in 2024 to a record high versus 2023, while...

Published 20 Jan, 2025 12:35pm

Indian fintech Paytm’s Q3 adjusted loss narrows sequentially as payments business recovers

India’s Paytm, on Monday, reported a narrower third-quarter adjusted loss compared with the previous quarter as its...

Published 20 Jan, 2025 12:32pm

Stocks

Australian shares close higher on rate cut prospects; South32 shines

Australian shares settled higher on Monday as investors looked forward to a potential interest rate cut from the...

Published 20 Jan, 2025 12:28pm

Commodities

China buys less Russian coal in 2024 despite record imports

BEIJING: China, the world’s top coal importer, bought less Russian coal in 2024 while increasing purchases from...

Published 20 Jan, 2025 12:26pm

Stocks

Japan’s Nikkei tracks Wall Street higher ahead of Trump inauguration

TOKYO: Japan’s Nikkei share average advanced on Monday, buoyed by gains on Wall Street and a weaker yen, even as a...

Published 20 Jan, 2025 12:22pm

Commodities

Mauritius tenders to buy 8,000 metric tons rice, traders say

HAMBURG: The state purchasing agency in Mauritius has issued an international tender to buy 8,000 metric tons of...

Published 20 Jan, 2025 12:20pm

Stocks

South Korean shares erase early gains as traders eye Trump’s first day

The benchmark KOSPI closed down 3.50 points, or 0.14%

Published 20 Jan, 2025 12:19pm

Aurangzeb heads to Davos for World Economic Forum moot

Finance Minister Muhammad Aurangzeb left for Davos, Switzerland on Monday to attend the World Economic Forum (WEF)...

Updated 20 Jan, 2025 04:37pm

ECB risks credibility cutting rates when inflation rising faster than expected, says Holzmann

BERLIN: The European Central Bank risks hurting its credibility if it cuts interest rates when inflation rises...

Published 20 Jan, 2025 12:10pm

India’s Wipro eyes best day in four years on echoing IT peers’ demand revival hopes

Wipro’s shares surged about 8% on Monday, set for their best day in nearly four years, after India’s No. 4 IT...

Published 20 Jan, 2025 11:40am

Vivendi’s new ‘galaxy’ of companies needs more time to explain strategy, analysts and investors say

GDANSK/PARIS/LONDON: Vivendi management and bosses of some of its newly spun out companies - Canal+, Havas and Louis...

Published 20 Jan, 2025 11:34am

Currency

Trump’s new crypto token jumps ahead of his inauguration

SINGAPORE: Donald Trump’s newly minted cryptocurrency soared on Monday to top $9 billion in market value, drawing in...

Published 20 Jan, 2025 11:30am

US firms in Europe fear worsening relations as Trump arrives

BRUSSELS: Nine out of 10 U.S. firms operating in Europe believe transatlantic economic relations will worsen in...

Published 20 Jan, 2025 11:26am

Energy

OGDCL enhances oil and gas production

Oil & Gas Development Company Limited (OGDCL), Pakistan’s largest exploration and production (E&P) company,...

Updated 20 Jan, 2025 04:36pm

Currency

Rupee records marginal increase against US dollar

Currency settles at 278.65 against greenback in inter-bank market

Updated 20 Jan, 2025 10:28pm

Stocks

Buying rally continues, KSE-100 gains over 570 points

The buying rally continued at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 closing with a gain of...

Updated 20 Jan, 2025 09:36pm

Japan November machinery orders beat forecast on strong factory investment

TOKYO: Japan’s core machinery orders rose 3.4% in November from the previous month to beat analysts’ forecast,...

Published 20 Jan, 2025 08:33am

Forex

Yuan recovery in lead-up to Trump’s inauguration to help Indian rupee

MUMBAI: The Indian rupee is likely to kick off a pivotal week on a slightly positive note, assisted by the recovery...

Published 20 Jan, 2025 08:25am

Bank of Japan poised to raise rates to highest in 17 years

TOKYO: The Bank of Japan is expected to raise interest rates on Friday barring any market shocks when U.S....

Published 20 Jan, 2025 08:20am

Energy

Oil prices slide as market awaits Trump’s return to White House

HOUSTON: Oil prices slipped on Monday as U.S. President-elect Donald Trump’s inauguration is expected to bring a...

Updated 20 Jan, 2025 09:25pm

Stocks

Dollar strong, stocks creep higher as second Trump term dawns

SINGAPORE: The dollar was firm and Asia’s stock markets were cautiously positive on Monday as investors waited for...

Published 20 Jan, 2025 08:06am

Stocks

Indian shares set for muted start ahead of Trump’s second presidency

Indian shares are poised for a subdued start on Monday, as investor concerns over U.S. policy framework under...

Published 20 Jan, 2025 08:02am

Bank of Korea downgrades 2025 GDP forecast

SEOUL: South Korea’s central bank said on Monday its economic growth projection for 2025 was estimated between 1.6%...

Published 20 Jan, 2025 08:00am

Real Estate

Country Garden expects to reach terms with creditors in Feb, lawyer tells court

HONG KONG: Chinese property company Country Garden, which has defaulted on debt repayment obligations, expects to...

Published 20 Jan, 2025 07:58am

Forex

Dollar steady as markets await Trump inauguration

SINGAPORE: The dollar was hovering near a more than two-year high at the start of a pivotal week on Monday, as...

Published 20 Jan, 2025 07:54am

Energy

Oil giant BP cuts thousands of jobs to slash costs

LONDON: British energy giant BP on Thursday said it would axe 4,700 staff jobs, or about five percent of its...