News Archives for Business & Finance - 2025-01-22

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Business & Finance - 2025-01-22

Senate body passes bill seeking ‘clearer guidelines’ for SOEs’ operation, governance

FBR grilled by Senators over decision to purchase 1,010 vehicles

Updated 22 Jan, 2025 10:19pm

Stocks

Most Gulf markets rise amid tariff uncertainty

Most stock markets in the Gulf ended higher on Wednesday amid general caution in response to U.S. President Donald...

Published 22 Jan, 2025 06:45pm

Middle East

Saudi prince’s investment firm would be keen on TikTok if Musk or others buy it, CEO says

DUBAI: Saudi Arabian Prince Alwaleed Bin Talal’s investment company Kingdom Holding (KHC) would be interested in...

Published 22 Jan, 2025 06:30pm

Stocks

HDFC Bank hauls Indian benchmarks out of earnings, US tariffs gloom

India’s benchmark indexes ended strongly on Wednesday, boosted by gains in HDFC Bank after its quarterly results,...

Published 22 Jan, 2025 05:06pm

Stocks

Sri Lanka shares end higher on financials, consumer staples boost

CSE All Share index settled up 1.4% at 16,828.80

Published 22 Jan, 2025 05:02pm

Commodities

Aluminium falls as Trump considers 10% tariff on China from February

LONDON: Aluminium prices fell onWednesday as U.S. President Donald Trump said his administration was considering...

Published 22 Jan, 2025 05:00pm

Commodities

Palm retreats on weak export demand, stronger ringgit

JAKARTA: Malaysian palm oil futures snapped a three-session rally on Wednesday, weighed down by cargo surveyor data...

Published 22 Jan, 2025 04:57pm

Companies

Pakistan’s banknotes manufacturer to upgrade plant

Security Papers Limited, the company engaged in manufacturing banknotes and other security papers, announced plans...

Updated 22 Jan, 2025 04:16pm

India’s budget likely to raise major subsidies by 8% to $47bn in next fiscal

NEW DELHI: India is likely to raise spending on food, fertiliser, and cooking gas subsidies to 4.1 trillion rupees...

Published 22 Jan, 2025 03:38pm

Stocks

KSE-100 closes nearly 1,600 points lower on late-session selling

The Pakistan Stock Exchange (PSX) witnessed a second consecutive negative session on Wednesday, as its benchmark...

Updated 22 Jan, 2025 10:36pm

Stocks

European stocks extend gains as Adidas propels DAX to record high

European stocks extended their recent run of gains on Wednesday, with strong holiday-quarter performance from Adidas...

Published 22 Jan, 2025 02:25pm

Forex

Russian rouble strengthens to below 99 to the US dollar

MOSCOW: The Russian rouble strengthened to below 99 to the US dollar amid market optimism over easing tensions...

Published 22 Jan, 2025 02:23pm

ECB’s Stournaras sees rates approaching 2% by year end, Trump tariffs could speed cuts

European Central Bank policymaker Yannis Stournaras expects the ECB to reduce interest rates gradually towards 2% by...

Published 22 Jan, 2025 02:21pm

Commodities

Gold price per tola gains Rs4,250 in Pakistan

Gold prices in Pakistan registered a massive increase on Wednesday in line with their rise in international rates....

Updated 22 Jan, 2025 04:41pm

Companies

Honda Atlas Cars’ profit-after-tax up 295% YoY in Oct-Dec

Honda Atlas Cars (Pakistan) Limited (HCAR) registered a profit of Rs566.4 million in the quarter ended December 31...

Updated 22 Jan, 2025 10:35pm

Energy

Prices of Canadian, WTI crude to Asia jump after shipping rates rally, sources say

SINGAPORE/HOUSTON: Prices of Canadian and US West Texas Intermediate crude oil to Asia jumped after shipping costs...

Published 22 Jan, 2025 01:07pm

Commodities

Dalian iron ore snaps nine-day winning streak on Trump tariff concerns

SINGAPORE: Iron ore futures prices declined on Wednesday, weighed down by concerns that US President Donald Trump...

Published 22 Jan, 2025 12:57pm

Mutual Funds

Vietnam raises $323mn in govt bond auction, filing shows

HANOI: Vietnam’s State Treasury raised 8.15 trillion dong ($323 million) in a government bond auction on Wednesday,...

Published 22 Jan, 2025 12:53pm

Forex

South African rand stable ahead of inflation, retail sales data

JOHANNESBURG: South Africa’s rand was little changed early on Wednesday, ahead of domestic inflation and retail...

Published 22 Jan, 2025 12:51pm

Mutual Funds

Japan’s shorter-dated bond yields rise as market braces for BOJ rate hike

TOKYO: Yields on shorter-end Japanese government bonds (JGBs) rose to a one-week high on Wednesday as the market...

Published 22 Jan, 2025 12:48pm

Commodities

South Korea’s NOFI tenders for up to 60,000 T feed wheat, traders say

HAMBURG: Leading South Korean feedmaker Nonghyup Feed Inc. (NOFI) has issued an international tender to purchase up...

Published 22 Jan, 2025 12:47pm

Energy

TotalEnergies further delays $20 bln Mozambique LNG project, FT reports

France’s TotalEnergies has further delayed its $20 billion liquefied natural gas (LNG) project in Mozambique, citing...

Published 22 Jan, 2025 12:39pm

Commodities

Palm retreats on weak export demand, stronger ringgit

JAKARTA: Malaysian palm oil futures snapped a three-session rally on Wednesday, weighed down by cargo surveyor data...

Published 22 Jan, 2025 12:36pm

Stocks

China and Hong Kong stocks tumble on Trump’s tariff threats

HONG KONG: China and Hong Kong stocks fell on Wednesday after US President Donald Trump hinted at new tariffs on...

Published 22 Jan, 2025 12:35pm

Commodities

Soy, corn and wheat dip after no-tariff rally

CANBERRA: Chicago corn, soybean and wheat futures dipped on Wednesday, after rallying in the previous session when...

Published 22 Jan, 2025 12:34pm

Forex

Yuan falls as Trump hints at new tariffs on Chinese imports

SHANGHAI: China’s yuan fell against the US dollar on Wednesday following President Donald Trump’s hint of potential...

Published 22 Jan, 2025 12:33pm

Business & Economy

Pakistan ‘moving in the right direction,’ Aurangzeb asserts at WEF

Finance minister says govt focused on reducing expenditures, debt servicing volume

Updated 22 Jan, 2025 10:16pm

Stocks

South Korean shares rise as investors assess Trump’s tariff plans

SEOUL: Round-up of South Korean financial markets: South Korean shares erase early gains as traders eye Trump’s...

Published 22 Jan, 2025 11:59am

Bullion Rate

Gold climbs to 11-week peak on Trump policy jitters, soft dollar

Gold prices hit an over 11-week peak on Wednesday, not far from an all-time peak touched last year, boosted by safe...

Published 22 Jan, 2025 11:28am

Forex

Australia, NZ dollars buffeted by tariff talk; NZ inflation benign

SYDNEY: The Australian and New Zealand dollars were again buffeted by uncertainty over US tariff policy on...

Published 22 Jan, 2025 11:10am

Mutual Funds

India bonds search for direction with focus on US Treasuries

MUMBAI: Indian government bond yields were little changed early on Wednesday as traders await fresh triggers, while...

Published 22 Jan, 2025 11:08am

Stocks

Japan’s Nikkei rises as tech shares gain on AI investment plans

TOKYO: Japan’s Nikkei share average rose on Wednesday, as investors scooped up SoftBank Group and other technology...

Published 22 Jan, 2025 11:06am

Stocks

Bubs Australia soars after swinging to profitability in half-year earnings

Shares of infant formula maker Bubs Australia surged on Wednesday after the company reported a return to...

Published 22 Jan, 2025 11:01am

Forex

Malaysian ringgit hits 6-week high ahead of central bank decision

Malaysia’s currency hit a six-week high and stocks advanced for a fourth straight session on Wednesday ahead of a...

Published 22 Jan, 2025 10:54am

Companies

Mari Energies to acquire 5% stake in Kohesultan Mining Company

Mari Energies Limited (MARI), formerly Mari Petroleum Company Limited, has entered into a definitive agreement to...

Updated 22 Jan, 2025 03:14pm

Exchange

Rupee remains largely stable against US dollar

Currency settles at 278.85 against US dollar

Updated 22 Jan, 2025 08:54pm

Stocks

India’s benchmark indexes open marginally higher

India’s benchmark indexes opened marginally higher on Wednesday, after hitting a more than seven-month low in the...

Published 22 Jan, 2025 09:06am

Japan wage growth gathers steam as reluctant retailers raise pay

TOKYO: Japan’s retailers, typically among the most tight-fisted of employers, are offering big pay increases for a...

Published 22 Jan, 2025 08:58am

Forex

Indian rupee set to rise at open, alongside Asian peers, before facing resistance

MUMBAI: The Indian rupee will likely inch up at the open on Wednesday, tracking an uptick in most of its Asian...

Published 22 Jan, 2025 08:49am

Morgan Stanley’s bonus payouts for star Asia bankers to jump by up to 50%, sources say

HONG KONG: Morgan Stanley’s top-performing investment bankers and traders in Asia will see up to a 50% increase in...

Published 22 Jan, 2025 08:47am

TikTok owner ByteDance plans to spend $12 bln on AI chips in 2025, FT reports

ByteDance is placing a big bet on artificial intelligence (AI) infrastructure as the TikTok parent plans to spend...

Published 22 Jan, 2025 08:14am

Netflix shares soar on price hikes and record subscriber gains

Netflix reaffirmed its dominance of the streaming video market on Tuesday, as its mixture of live sporting events,...

Published 22 Jan, 2025 08:10am

Stocks

Stocks bask in Trump glow, tariff uncertainty weighs on dollar

SYDNEY/NEW YORK: Global stocks gained on Wednesday as a flurry of new policies from U.S. President Donald Trump...

Published 22 Jan, 2025 08:06am

Forex

Dollar drifts lower as traders ponder Trump tariff plans

TOKYO: The dollar drifted slightly lower on Wednesday in indecisive trading as a lack of clarity on President Donald...

Published 22 Jan, 2025 07:56am

Energy

Oil prices climb as dollar weakens, investors watch Trump policies

Oil prices edged higher on Wednesday as the dollar weakened, with traders closely watching U.S. inventories,...

Updated 22 Jan, 2025 05:49pm

Advanced technologies: Punjab govt for more collaboration with China

LAHORE: The Punjab Secretary of Agriculture, Iftikhar Ali Sahoo, has called for strengthened collaboration between...

Published 22 Jan, 2025 07:32am

Industry

PBIT hosts session with Jeanologia representatives

LAHORE: The Punjab Board of Investment and Trade (PBIT) met with representatives of Jeanologia, a renowned Spanish...

Published 22 Jan, 2025 07:27am

Industry

Food & agri manufacturing: Secretary TDAP urges Punjab CS to strengthen collaboration

LAHORE: Secretary of the Trade Development Authority of Pakistan (TDAP), Sheryar Taj paid a courtesy call on Zahid...

Published 22 Jan, 2025 07:26am

Industry

Tanveer suggests steps to revive housing sector

LAHORE: Patron-in-Chief United Business Group (UBG) S M Tanveer has suggested measures for revival of the housing...

Published 22 Jan, 2025 07:24am

Industry

KCCI, PHMA for developing pro-business STPF policy for five years

KARACHI: The Karachi Chamber of Commerce & Industry (KCCI) and the Pakistan Hosiery Manufacturers Association...

Published 22 Jan, 2025 07:22am

1HFY2024-25: Mobile phones worth $733.425m imported

ISLAMABAD: The country imported mobile phones worth $733.425 million in the first half (July-December) of the ...

Published 22 Jan, 2025 07:21am

Taxes

PTBA proposes forming body to evaluate pending tax cases

KARACHI: Pakistan Tax Bar Association (PTBA) has proposed establishing a specialized steering committee to evaluate...

Published 22 Jan, 2025 07:11am

MENA

70,000 new firms join Dubai Chamber of Commerce, of which more than 6,000 are Pakistani

DUBAI: The number of new companies joining the Dubai Chamber of Commerce continued to soar as the figure hit 70,000...

Published 22 Jan, 2025 06:26am

Indonesia fines Google $12m for unfair business practices

JAKARTA: Indonesia’s antitrust agency on Tuesday ordered Google to pay fines about 202 billion rupiah ($12.37...

Published 22 Jan, 2025 06:06am

Efforts on to boost Pakistan Post’s revenue to Rs14bn by June 30: Aleem

ISLAMABAD: Federal Minister for Communications, Privatisation and Board of Investment Abdul Aleem Khan has assigned...

Published 22 Jan, 2025 06:06am

Taxes

Health activists urge govt to tax ultra-processed products

ISLAMABAD: Health activists while urging the government to prioritise public health by taxing ultra-processed...

Published 22 Jan, 2025 06:06am

MENA

Dubai’s Crypto Tower will feature an exotic car dealership and a gold bullion shop

DUBAI: A 17-storey ‘Crypto Tower’ is in the works for Dubai including nine floors of offices tailored for both...

Updated 22 Jan, 2025 06:34am

Taxes

Mobile device registration: PTA, FBR working to raise public awareness

ISLAMABAD: The Pakistan Telecommunication Authority (PTA) and the Federal Board of Revenue (FBR) are actively ...

Published 22 Jan, 2025 06:06am

Money & Banking

Asian currencies edge higher

BENGALURU: Emerging Asian currencies nudged higher on Tuesday, while the Mexican peso slipped after US President...

Published 22 Jan, 2025 06:06am

Money & Banking

Dollar recovers

NEW YORK: The US dollar rose on Tuesday, recovering from its biggest daily percentage drop in 14 months after...

Published 22 Jan, 2025 06:06am

Money & Banking

Rouble surges past 100 mark vs dollar

MOSCOW: The Russian rouble surged past the 100 mark against the US dollar on Tuesday, supported by forex sales by ...

Published 22 Jan, 2025 06:06am

Improved tax system: Furniture Association presents suggestions

LAHORE: The Furniture Association presented recommendations to improve the tax system and reaffirmed its commitment...

Published 22 Jan, 2025 06:06am

KP Govt launches ‘BizHub’ Portal to empower SMEs

PESHAWAR: The Khyber Pakhtunkhwa government has formally launched the ‘BizHub’ digital App aiming to serve as a...

Published 22 Jan, 2025 06:06am

‘Need to improve investment environment to boost economy’

KARACHI: Chairman of National Business Group Pakistan, President of the Pakistan Businessmen and Intellectuals ...

Published 22 Jan, 2025 06:06am

Industry

Premium seafood: Samrah, Plankton join hands

KARACHI: Samrah Enterprises, has collaborated with Plankton Fisheries to launch a new line of premium deep-sea ...

Published 22 Jan, 2025 06:06am

Workshop on ‘Deregulating Wheat Sector’ on 24th

Industry

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Jan 31	279.03
USD PKR Interbank Buying / Jan 31	278.88
USD to Japanese Yen / Jan 31	154.72
USD to Swiss Franc / Jan 31	0.91
Pound Sterling to USD / Jan 31	1.24
Euro to USD / Jan 31	1.04

Stock	Volume
S&P 500 / Jan 30	6,071.17
Nasdaq / Jan 30	19,681.75
Hang Seng / Jan 30	20,225.11
Dow Jones / Jan 30	44,882.13
Germany DAX 30 / Jan 30	21,727.20
France CAC40 / Jan 30	7,941.64
India Sensex / Jan 31	77,500.57
Tokyo Nikkei / Jan 31	39,572.49

Item	Value
Karachi Cotton PKR/37.32 KG / Jan 30	18,285
Petrol/Litre / Jan 31	256.13
Crude Oil USD/Barrel / Jan 31	72.68
Gold 10 Grams PKR / Jan 31	250,171
Gold Spot USD/Ounce / Jan 31	2,793
Diesel/Litre / Jan 31	260.95

Gainers
Losers
Leaders

Stock	Price
Kohinoor Ind. / Jan 31 Kohinoor Industries Limited(KOIL)	10.21 ▲ 1 (10.86%)
IGI Life Ins / Jan 31 IGI Life Insurance Limited(IGIL)	15.13 ▲ 1.38 (10.04%)
Sana Ind / Jan 31 Sana Industries Limited(SNAI)	28.77 ▲ 2.62 (10.02%)
Tariq Corporation / Jan 31 Tariq Corporation Limited(TCORP)	16.91 ▲ 1.54 (10.02%)
I.C.C. Ind. / Jan 31 ICC Industries Limited(ICCI)	15.72 ▲ 1.43 (10.01%)
Redco Textile / Jan 31 Redco Textiles Limited(REDCO)	24.17 ▲ 2.2 (10.01%)
Leather Up Ltd. / Jan 31 Leather Up Limited(LEUL)	53.74 ▲ 4.89 (10.01%)
Pak Leather / Jan 31 Pak Leather Crafts Limited(PAKL)	32.63 ▲ 2.97 (10.01%)
Dandot Cement / Jan 31 Dandot Cement Company Limited(DNCC)	16.48 ▲ 1.5 (10.01%)

Stock	Price
Blue-Ex Ltd / Jan 31 Blue-Ex Limited (GEM)(GEMBLUEX)	54.86 ▼ -6.1 (-10.01%)
D.M. Textile / Jan 31 D.M. Textile Mills Limited(DMTX)	63 ▼ -7 (-10%)
First Imrooz Mod. / Jan 31 First Imrooz Modaraba(FIMM)	189 ▼ -21 (-10%)
Power Cem(Pref) / Jan 31 Power Cement (Pref)(POWERPS)	10.41 ▼ -1.15 (-9.95%)
National Silk / Jan 31 The National Silk & Rayon Mills Limited(NSRM)	40.84 ▼ -4.51 (-9.94%)
Sec. Inv. Bank / Jan 31 Security Investment Bank Limited(SIBL)	7.83 ▼ -0.76 (-8.85%)
Shahtaj Sugar / Jan 31 Shahtaj Sugar Mills Limited(SHJS)	109.56 ▼ -10.44 (-8.7%)
Kohinoor Mills / Jan 31 Kohinoor Mills Limited(KML)	31.05 ▼ -2.9 (-8.54%)
F.Credit & Inv / Jan 31 First Credit and Investment Bank Limited(FCIBL)	7.28 ▼ -0.66 (-8.31%)

Stock	Volume
Cnergyico PK / Jan 31 Cnergyico PK Limited(CNERGY)	66,672,997 ▲ 0.14
Sui South Gas / Jan 31 Sui Southern Gas Company Limited(SSGC)	48,364,956 ▼ -1.33
WorldCall Telecom / Jan 31 Worldcall Telecom Limited(WTL)	36,344,486 ▼ -0.06
Waves Home Appliances / Jan 31 Waves Home Appliances Limited(WAVESAPP)	33,226,540 ▼ -0.77
Bank Makramah / Jan 31 Bank Makramah Limited(BML)	31,509,642 ▲ 0.04
B.O.Punjab / Jan 31 The Bank of Punjab(BOP)	17,873,860 ▲ 0.2
K-Electric Ltd. / Jan 31 K-Electric Limited(KEL)	16,969,744 ▼ -0.07
Pak Refinery / Jan 31 Pakistan Refinery Limited(PRL)	16,492,313 ▼ -0.57
Treet Battery / Jan 31 Treet Battery Limited(TBL)	15,390,342 ▲ 1.07

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