News Archives for Business & Finance - 2025-01-23

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Business & Finance - 2025-01-23

Energy

Oil prices fall as Trump urges lower oil costs, weighs tariff

NEW YORK: Oil fell more than 1% on Thursday after U.S. President Donald Trump urged Saudi Arabia and OPEC to bring...

Published 23 Jan, 2025 11:27pm

Money & Banking

Trump tells Davos he will demand lower interest rates, oil prices

US president says interest rates should be dropping all over the world

Updated 23 Jan, 2025 11:29pm

Europe

Trade wars sparked by Trump tariffs would be ‘catastrophic’, WTO chief says

GENEVA/DAVOS: The World Trade Organization chief said on Thursday that any tit-for-tat trade wars prompted by U.S....

Published 23 Jan, 2025 08:22pm

Stocks

Gulf markets end mixed amid Trump’s tariff plans

Stock markets in the Gulf ended mixed on Thursday, as investors remained cautious, keeping a watchful eye on U.S....

Published 23 Jan, 2025 07:44pm

Forex

SBP-held foreign exchange reserves fall to $11.45bn on debt repayments

Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased by $276 million on a weekly basis,...

Updated 23 Jan, 2025 11:08pm

Business & Economy

$20bn funding: World Bank’s Country Partnership Framework for Pakistan launched

PM Shehbaz reaffirms commitment to implementing 10-year programme aimed to support inclusive, sustainable development

Updated 23 Jan, 2025 11:03pm

Commodities

Pakistan drought dents winter harvest

LAHORE: A winter drought is ravaging crops in Pakistan’s breadbasket, farmers said Thursday, with the region parched...

Updated 23 Jan, 2025 11:12pm

Stocks

Sri Lanka shares end higher as IT stocks gain

CSE All-Share index settled 1.17% higher at 17,025.99

Published 23 Jan, 2025 05:14pm

Stocks

Derayah Financial launches first Saudi IPO of 2025 with offer of 20% stake

DUBAI: Saudi Arabia’s Derayah Financial will offer investors a 20% stake via an initial public offering, it said on...

Published 23 Jan, 2025 05:11pm

Commodities

Asia rice: Ample supply pushes India rates lower, Thai prices at 2-year low

Rice prices from top exporter India extended declines to an 18-month low on rising supplies amid depreciation in the...

Published 23 Jan, 2025 05:06pm

Commodities

Meta, WhatsApp win relief as India tribunal suspends data sharing ban

NEW DELHI: An Indian tribunal temporarily suspended a five-year data sharing ban between WhatsApp and owner Meta...

Published 23 Jan, 2025 04:54pm

Stocks

IT stocks lead gains in India’s benchmark indexes

India’s benchmark indexes closed higher on Thursday, led by IT stocks on optimism over the rise in artificial...

Published 23 Jan, 2025 04:33pm

Commodities

Copper prices dented by profit-taking amid tariff and China uncertainty

LONDON: Copper prices retreated on Thursday as investors locked in profits from a recent rally, awaiting further...

Published 23 Jan, 2025 04:31pm

Commodities

Palm ends lower on weak rival oils

JAKARTA: Malaysian palm oil futures closed lower for a second straight session on Thursday, dragged down by weakness...

Published 23 Jan, 2025 04:28pm

Bullion Rate

Gold price per tola decreases Rs750 in Pakistan

After increasing in the previous session, gold prices in Pakistan registered a decline on Thursday in line with...

Published 23 Jan, 2025 03:26pm

Forex

Ugandan shilling flat as FX appetite subdued, traders say

KAMPALA: The Ugandan shilling was flat on Thursday, with demand for hard currency subdued from importers and on the...

Published 23 Jan, 2025 03:19pm

Stocks

European stocks little changed as investors assess mixed earnings

European shares were flat on Thursday, hovering below a record high touched in the previous session, as a drop in...

Published 23 Jan, 2025 02:19pm

Stocks

Major Gulf markets gain; eyes on Trump’s tariff plan

Major stock markets in the Gulf rose in early trading on Thursday, with investors continuing to keep a close eye on...

Published 23 Jan, 2025 02:12pm

Business & Economy

Pakistan’s inflation expected to fall below 3% in January

Declining inflation raise hopes of further cut in policy rate

Updated 23 Jan, 2025 11:05pm

Europe

Putin growing concerned by Russia’s economy, as Trump pushes for Ukraine deal

MOSCOW: President Vladimir Putin has grown increasingly concerned about distortions in Russia’s wartime economy,...

Published 23 Jan, 2025 01:08pm

Energy

PPL increases gas production at Shahdad X-1

Pakistan Petroleum Limited (PPL) has successfully increased natural gas production at Shahdad X-1, a sweet gas well...

Updated 23 Jan, 2025 11:14pm

Forex

Australia, NZ dollars climb on yen as BOJ decision looms

SYDNEY: The Australian and New Zealand dollars clung onto gains against the yen on Thursday as traders braced for an...

Published 23 Jan, 2025 12:23pm

Forex

Thai baht/US dollar weaker on Thursday

Baht was 0.19% lower at 33.93 versus the dollar

Published 23 Jan, 2025 12:17pm

Commodities

soybeans rises, but suspension on some Brazilian cargoes to China weighs

BEIJING: Chicago soybeans edged higher on Thursday, supported by concerns that unfavourable weather in South America...

Published 23 Jan, 2025 12:14pm

Stocks

South Korean shares fall on weaker-than-expected GDP data

KOSPI was down 20.29 points, or 0.80%, at 2,526.77

Published 23 Jan, 2025 11:54am

Companies

Mari Energies refutes fire reports at Daharki plant

Mari Energies Limited (MARI), formerly Mari Petroleum Company Limited, on Thursday, refuted social media reports of...

Updated 23 Jan, 2025 04:27pm

Taiwan’s HTC to sell part of XR unit to Google for $250mn

TAIPEI: Taiwan’s HTC said on Thursday it will sell part of its unit for extended reality (XR) headsets and glasses...

Published 23 Jan, 2025 11:47am

Commodities

Iron ore rangebound amid China support for stocks and tariff concerns

SINGAPORE: Iron ore futures traded in a narrow range on Thursday, as investors weighed fresh initiatives by top...

Published 23 Jan, 2025 11:44am

Thai December exports rise 8.7% y/y, above forecast

BANGKOK: Thailand’s customs-cleared exports rose 8.7% in December from a year earlier, the commerce ministry said on...

Published 23 Jan, 2025 11:41am

Forex

China’s yuan slips on worries over Trump tariff plans, pre-holiday dollar demand

SHANGHAI: China’s yuan slipped against the dollar on Thursday, as investor concerns over US President Donald Trump’s...

Published 23 Jan, 2025 11:30am

Qatar drafting new laws aimed at boosting foreign investment

DOHA: Qatar plans to introduce three new laws as part of a sweeping review of legislation designed to make the Gulf...

Published 23 Jan, 2025 11:27am

Companies

Tesla to significantly raise prices of all cars in Canada, website shows

Tesla will raise prices of all its cars in Canada from Feb. 1, according to notices on its Canadian website, with...

Published 23 Jan, 2025 11:22am

Stocks

KSE-100 rebounds with nearly 600-point gain to settle above 114,000

After experiencing selling pressure in the last two trading sessions, positivity returned to the Pakistan Stock...

Updated 23 Jan, 2025 11:09pm

India’s Hindustan Unilever drops to 8-month low on margin concerns

Shares of Hindustan Unilever fell as much as 3.5% on Thursday to their lowest level since May after the Indian...

Published 23 Jan, 2025 11:02am

South Asia

India watchdog faults probe of Foxconn hiring, orders new inquiry

NEW DELHI: India’s powerful human rights watchdog has admonished labor officials for failure to adequately...

Published 23 Jan, 2025 10:59am

Currency

Rupee registers slight improvement against US dollar

Currency settles at 278.72 against the greenback in inter-bank market

Updated 23 Jan, 2025 11:01pm

Stocks

China stocks climb on Beijing’s plan for insurers to buy mainland shares

HONG KONG: Chinese stocks rose on Thursday, supported by the financial sector after Beijing unveiled plans to...

Published 23 Jan, 2025 10:54am

Singapore December core inflation at 1.8% y/y, lowest since November 2021

SINGAPORE: Singapore’s key consumer price gauge rose 1.8% in December from a year earlier, higher than economist...

Published 23 Jan, 2025 10:51am

Hyundai Motor Q4 profit falls 17% as discounts weigh

SEOUL: South Korea’s Hyundai Motor reported on Thursday a 17% fall in fourth-quarter operating profit, declining...

Published 23 Jan, 2025 10:49am

Commodities

Palm declines on weak rival oils

JAKARTA: Malaysian palm oil futures opened lower for a second straight session on Thursday, dragged down by weakness...

Published 23 Jan, 2025 10:46am

Bullion Rate

Gold eases on dollar strength amid Trump policy concerns

Gold prices eased on Thursday from a near three-month peak, as the dollar gained, while investors awaited further...

Published 23 Jan, 2025 10:40am

Stocks

Australian shares snap three-day rally as miners drag on Trump’s China tariff plans

Australian shares halted a three-day rally on Thursday, as uncertainties surrounding US President Donald Trump’s...

Published 23 Jan, 2025 10:38am

Stocks

Japan’s Nikkei rides tech boost higher; BOJ in focus

TOKYO: Japan’s Nikkei share average rose on Thursday as SoftBank Group and other technology stocks tracked their US...

Published 23 Jan, 2025 10:36am

Mutual Funds

India bond yields stabilise; debt supply, federal budget in focus

MUMBAI: Indian government bond yields were flat on Thursday after the benchmark yield declined for three consecutive...

Published 23 Jan, 2025 10:33am

Forex

Relief for Indian rupee expected to be short-lived amid weak Asian peers

MUMBAI: The Indian rupee, after a small relief rally, is poised to decline on Thursday, tracking declines in Asian...

Published 23 Jan, 2025 10:31am

Energy

OGDCL boosts oil production at Kunnar Oil Field in Sindh

The Oil and Gas Development Company Limited (OGDCL), Pakistan’s leading exploration and production company,...

Updated 23 Jan, 2025 04:37pm

Tata Motors looks to local battery play as EV competition rises

NEW DELHI: Tata Motors, India’s biggest electric car maker, is betting that locally manufactured EV batteries will...

Published 23 Jan, 2025 08:48am

Stocks

India’s benchmark indexes set for flat start

India’s benchmark indexes are set to open unchanged on Thursday amid caution due to uncertainty over U.S. President...

Published 23 Jan, 2025 08:43am

SK Hynix profit surpasses Samsung, but shares dip on lower memory chip demand

SEOUL: South Korea’s SK Hynix forecast sales of its high-end semiconductors used in generative artificial...

Published 23 Jan, 2025 08:40am

Japan December export growth beats forecast amid tariff jitters

TOKYO: Japanese exports rose for a third successive month in December as a weak yen boosted the value of shipments,...

Published 23 Jan, 2025 08:35am

American firms in China fearful of US-China trade turmoil at 5-year high, survey shows

SHANGHAI: More than half of the American businesses in China, the highest level in five years, say they are...

Published 23 Jan, 2025 08:31am

Samsung unveils AI smartphones with Qualcomm chips, teases slimmer Galaxy phones

SEOUL/SAN FRANCISCO: Samsung Electronics on Wednesday unveiled its newest Galaxy S25 smartphones, powered by...

Published 23 Jan, 2025 08:28am

Morgan Stanley’s Michael Grimes in talks for role in Trump administration, WSJ reports

Michael Grimes, a technology banker with Morgan Stanley, is in talks to leave the bank for a position in U.S....

Published 23 Jan, 2025 08:20am

CNN and NBC News to lay off employees, CNBC reports

CNN, a unit of Warner Bros Discovery, plans to lay off hundreds of employees on Thursday, as it refocuses the...

Updated 23 Jan, 2025 08:57am

Money & Banking

Asian currencies: Malaysian ringgit extends gains

BENGALURU: The Malaysian ringgit extended gains on Wednesday after the country’s central bank kept interest rate...

Published 23 Jan, 2025 08:15am

Money & Banking

Dollar flat as market looks for tariff clarity

NEW YORK: The dollar was flat on Wednesday after touching a new two-week low, as investors continue to await...

Published 23 Jan, 2025 08:14am

OpenAI, SoftBank each commit $19bn to Stargate AI data center, the Information reports

OpenAI and Japanese conglomerate SoftBank will each commit $19 billion to fund Stargate, a joint venture to develop...

Published 23 Jan, 2025 08:12am

Industry

Electric vehicles: 44pc discounted tariff welcomed

KARACHI: Malik Khuda Bakhsh, Convener of the Energy Standing Committee of the Federation of Pakistan Chambers of...

Published 23 Jan, 2025 08:10am

Forex

Dollar treads water as Trump tariff clarity, central banks awaited

TOKYO: The dollar steadied against major peers on Thursday, continuing its near paralysis of the past two days...

Published 23 Jan, 2025 08:09am

Chinese investors interested in PIEDMC's industrial estates

LAHORE: Chief Minister Punjab's recent visit to China is having a fruitful impact. Chinese investors have shown...

Published 23 Jan, 2025 08:07am

Energy

Oil prices held down by Trump tariff uncertainty

LONDON: Oil prices were little changed on Thursday, maintaining the previous session’s losses on uncertainty over...

Updated 23 Jan, 2025 03:17pm

Stocks

Asia shares helped by China uplift, Trump’s tariff plans hang in the air

SINGAPORE/NEW YORK: Asia shares rose on Thursday, helped by a jump in their Chinese counterparts on Beijing’s latest...

Published 23 Jan, 2025 08:02am

Taxes

FBR seeks customs budget proposals for FY 2025-26

ISLAMABAD: The Federal Board of Revenue (FBR) has sought customs budget proposals for 2025-26 from field formations...

Published 23 Jan, 2025 08:00am

Industry

FPCCI members emphasize tourism, culture sectors

LAHORE: Atif Ikram Sheikh, President, and Zaki Aijaz, Regional Chairman and Vice President of the Federation of...

Published 23 Jan, 2025 07:58am

Goods declaration processing: ‘Faceless assessment system reduces time’

KARACHI: Chief Collector Customs Appraisement, Jamil Nasir, announced that the newly implemented faceless assessment...

Published 23 Jan, 2025 07:57am

Industry

Govt urged to take measures to revive construction & housing sector

KARACHI: Syed Mazhar Ali Nasir, Vice Chairman of the Southern Zone of United Business Group (UBG), has urged the...

Published 23 Jan, 2025 07:55am

Industry

KATI proposes key steps for housing sector revival

KARACHI: President of the Korangi Association of Trade and Industry (KATI), Junaid Naqi has proposed key measures ...

Published 23 Jan, 2025 07:50am

Industry

MCCI analyses country’s macroeconomic challenges

LAHORE: Hissan Ur Rehman, the official instructor of the Pakistan Stock Exchange (PSX) and a prominent advocate for...

Published 23 Jan, 2025 07:47am

Industry

OCAC thanks mayor for repairing KOIA infrastructure

KARACHI: The Oil Companies Advisory Council (OCAC) has expressed its gratitude to Mayor Karachi Barrister Murtaza...

Published 23 Jan, 2025 07:38am

Industry

OGDCL inducts three electric buses

ISLAMABAD: The Oil and Gas Development Company Limited (OGDCL) has inducted three electric buses to its fleet,...

Published 23 Jan, 2025 07:36am

Ogra launches state-of-the-art mobile app ‘Raahguzar’

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra), in collaboration with the Federal Board of Revenue (FBR) and...

Published 23 Jan, 2025 07:34am

Industry

PHMA Chairman urges govt to focus on housing sector

LAHORE: Sardar Usman Ghani, the central chairman of Pakistan Hardware Merchant Association, has suggested in a...

Published 23 Jan, 2025 07:32am

Companies

Ba-Ikhtiar Project: PTCL Group, PPAF celebrate achievements of women entrepreneurs

ISLAMABAD: PTCL Group, in collaboration with the Pakistan Poverty Alleviation Fund (PPAF), celebrated the...

Published 23 Jan, 2025 07:31am

Parliamentary secy praises role of NPO in national uplift

ISLAMABAD: Shahid Usman Ibrahim, parliamentary secretary Ministry of Industries and Production has said that the...