News Archives for Business & Finance - 2025-01-24

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Business & Finance - 2025-01-24

USA

Fed to hold rates steady at an unsteady moment

WASHINGTON: US Federal Reserve policymakers meeting next week are expected to keep interest rates on hold but the...

Published 24 Jan, 2025 09:45pm

Stocks

S&P 500, Nasdaq flat as investors assess economic data; Boeing slips

The benchmark S&P 500 and the Nasdaq struggled for direction on Friday, as investors avoided big bets and...

Published 24 Jan, 2025 09:13pm

Energy

Pakistan, World Bank agree to expedite implementation of Dasu Hydropower Project

Power minister seeks funds, investment for installation of smart metres at distribution level transformers

Updated 24 Jan, 2025 10:25pm

Commodities

Global LNG: Asian spot LNG little changed on ample stocks, mild weather

KUALA LUMPUR: Asian spot liquefied natural gas (LNG) prices were little changed this week, as ample inventories and...

Published 24 Jan, 2025 06:25pm

Stocks

Oil boosts Abu Dhabi, Dubai falls

Abu Dhabi index closed higher on Friday, in line with oil prices after U.S. President Donald Trump issued a sweeping...

Published 24 Jan, 2025 05:44pm

Financial

India’s FX reserves hit near 11-month low as rupee slide continues to weigh

BENGALURU: India’s foreign exchange reserves fell to a near 11-month low of $623.98 billion as of Jan. 17, extending...

Published 24 Jan, 2025 05:40pm

Stocks

Sri Lanka shares end lower as IT, healthcare drag

CSE All-Share index settled down 0.64% at 16,917.86

Published 24 Jan, 2025 05:31pm

South Asia

Bangladesh says it won’t bail out factories linked to Hasina

DHAKA: Bangladesh’s interim government has said it will not bail out garment factories linked to a senior ally of...

Published 24 Jan, 2025 05:15pm

Stocks

Earnings worries yank Indian shares to third week of losses

Indian shares fell on Friday and logged losses for the third straight week on rising concerns over slowing corporate...

Published 24 Jan, 2025 04:25pm

Commodities

Copper hits 10-week peak on hopes for Trump deal with China

LONDON: Copper prices jumped to their highest in more than two months on Friday as investors became more optimistic...

Published 24 Jan, 2025 04:23pm

Commodities

Palm oil notches marginal weekly gains on Malaysian production decline

JAKARTA: Malaysian palm oil futures reversed losses on Friday to end higher, and booked a marginal weekly gains...

Published 24 Jan, 2025 04:19pm

Commodities

Gold hits fresh record high of Rs289,600 per tola in Pakistan

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

Updated 24 Jan, 2025 10:11pm

Business & Economy

SBP likely to deliver sixth straight rate cut to revive economy

MPC scheduled to meet on January 27 (Monday)

Updated 24 Jan, 2025 09:39pm

Companies

Askari Bank appoints Zia Ijaz as President & CEO

The Board of Directors (BoD) of Askari Bank Limited has appointed Zia Ijaz as President and Chief Executive Officer...

Updated 24 Jan, 2025 04:16pm

Taxes

Revenue Division seeks exemption from vacant post abolition requirement

The Revenue Division has proposed a one-time dispensation from the policy requiring the abolition of 60% of vacant...

Updated 24 Jan, 2025 10:10pm

Commerzbank says no talks with UniCredit until specific offer made

BERLIN: Commerzbank reiterated on Friday that it will not meet with UniCredit for formal discussions until it...

Published 24 Jan, 2025 01:34pm

Stocks

Luxury stocks, Trump’s Davos comments lift European shares to record high

European shares hit a record high on Friday, boosted by personal goods stocks, with investors also welcoming US...

Published 24 Jan, 2025 01:31pm

Cotton & Textile

Pakistan’s Colony Textile to close weaving division amid multiple challenges

In a setback for Pakistan’s textile sector, Colony Textile Mills Limited (CTM), a local yarn manufacturer, has...

Updated 24 Jan, 2025 10:09pm

Companies

Mitsubishi Motors considering not joining planned Nissan-Honda merger, sources say

TOKYO: Japan’s Mitsubishi Motors , a junior partner of Nissan Motor, is considering not joining a planned merger...

Published 24 Jan, 2025 12:09pm

Commodities

Dalian iron ore heads for small weekly gain on falling China stockpiles

SINGAPORE: Dalian iron ore futures edged higher on Friday and were set for a small weekly gain, aided by falling...

Published 24 Jan, 2025 12:02pm

Forex

Yuan surges to 1-1/2 month high after Trump’s China comments, set for best week since July

SHANGHAI: China’s yuan surged to a 1-1/2-month high against the dollar on Friday and looked set for the best weekly...

Published 24 Jan, 2025 12:00pm

Bullion Rate

China’s 2024 gold consumption slumps 9.58% y/y as high prices cut demand

BEIJING: China’s gold consumption in 2024 slumped 9.58% on the year to 985.31 metric tons, data from the China Gold...

Published 24 Jan, 2025 11:54am

Stocks

China, HK stocks rise after Trump says conversation with Xi ‘friendly’

SHANGHAI: China and Hong Kong stocks rose on Friday, buoyed by US President Donald Trump’s comments that his recent...

Published 24 Jan, 2025 11:51am

Commodities

Palm falls as weakness in rival oils

JAKARTA: Malaysian palm oil futures fell for a third consecutive session on Friday and looked set to post a second...

Published 24 Jan, 2025 11:44am

LG Energy Solution flags slowing EV demand, posts first quarterly loss in 3 yrs

SEOUL: South Korean battery firm LG Energy Solution (LGES) said it expected electric vehicle demand growth to slow...

Published 24 Jan, 2025 11:42am

Companies

Ericsson’s Q4 core profit rises

STOCKHOLM: Swedish telecom equipment maker Ericsson reported on Friday a rise in fourth-quarter adjusted operating...

Published 24 Jan, 2025 11:34am

Commodities

Japan buyers agree to pay Q1 aluminium premium of $228/T, sources say

TOKYO: The premium for aluminium shipments to Japanese buyers for January to March was set at $228 a metric ton, up...

Published 24 Jan, 2025 11:31am

Companies

Kia posts operating profit of 12.7 trln won in 2024

SEOUL: South Korean automaker Kia Corp (000270.KS), opens new tab on Friday posted an operating profit of 12.67...

Published 24 Jan, 2025 11:25am

Commodities

Soy, corn and wheat drop as Argentina cuts export taxes; set for weekly gains

BEIJING: Chicago soybeans, corn and wheat fell on Friday as Argentina cut taxes on grain exports, but the contracts...

Published 24 Jan, 2025 11:04am

Mutual Funds

Japan’s short-end JGB yields rise ahead of BOJ policy decision

TOKYO: Yields on shorter ended Japanese government bonds (JGBs) rose on Friday as the market awaited the Bank of...

Published 24 Jan, 2025 10:59am

Stocks

Japan’s Nikkei tracks Wall Street higher as BOJ decision looms

TOKYO: Japan’s Nikkei share average rose in early trading on Friday, buoyed by a record close for US stocks...

Published 24 Jan, 2025 10:50am

Companies

Rivian says other automakers ‘knocking on door’ about tech from VW joint venture

PALO ALTO: A joint venture between US electric pickup and SUV maker Rivian and Volkswagen is in talks with other...

Published 24 Jan, 2025 10:49am

Stocks

KSE-100 closes 843 points higher as late-session selling trims half of intra-day gains

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index closed last session of the week higher by 843 points,...

Updated 24 Jan, 2025 10:11pm

Forex

Australia, NZ dollars hit 5-week highs as Trump softens tone on China

SYDNEY: The Australian and New Zealand dollars blipped higher on Friday after President Donald Trump said he could...

Published 24 Jan, 2025 10:42am

Stocks

Australian shares eye best week in a month as banks, real estate gain

Australian shares rose on Friday, eyeing its best week in a month, as financial and real estate stocks lifted the...

Published 24 Jan, 2025 10:40am

Mutual Funds

India bond yields may inch higher before debt supply

MUMBAI: Indian government bond yields are expected to trend marginally higher in early deals on Friday, as market...

Published 24 Jan, 2025 10:38am

Forex

Indian rupee rises; volatility expectations drop on dwindling worries over US tariffs

MUMBAI: The Indian rupee rose on Friday, tracking a Chinese yuan-driven rally in Asian peers, after US President...

Published 24 Jan, 2025 10:36am

BYD plans to sell plug-in hybrids in Japan

TOKYO: China’s BYD could start selling its first plug-in hybrid vehicle in Japan this year, the company said on...

Published 24 Jan, 2025 10:34am

Currency

Rupee remains stable against US dollar

Currency settles at 278.75 against the greenback in inter-bank market

Updated 24 Jan, 2025 10:15pm

Companies

TPL Corp, Abhi acquire FINCA Microfinance Bank

TPL Corp Limited (TPL), a Pakistani financial platform, and Abhi (Private) Limited (Abhi) have successfully acquired...

Updated 24 Jan, 2025 04:08pm

Bullion Rate

Gold jumps to near all time-high, set for weekly gain

Gold prices soared to near three-month highs on Friday and were on track for a fourth straight weekly gain as...

Published 24 Jan, 2025 08:59am

Stocks

Indian shares set to open higher after Trump roots for lower U.S. rates

Indian shares are set to open higher on Friday, tracking other Asian peers, after U.S. President Donald Trump said...

Published 24 Jan, 2025 08:54am

BOJ raises short-term interest rates to 0.5% in widely expected move

TOKYO: The Bank of Japan raised interest rates on Friday in a widely expected move, reflecting its growing optimism...

Published 24 Jan, 2025 08:50am

Companies

Boeing warns of bigger-than-expected $4 billion quarterly loss; shares drop

SEATTLE: Boeing warned on Thursday that it expected a fourth-quarter loss of about $4 billion to close a year marred...

Published 24 Jan, 2025 08:38am

Currency

Wall Street regulator revokes accounting guidance on crypto assets

The U.S. Securities and Exchange Commission (SEC) rescinded on Thursday accounting guidance long opposed by the...

Published 24 Jan, 2025 08:34am

Stargate artificial intelligence project to exclusively serve OpenAI, FT reports

Stargate, the joint venture by OpenAI, and Oracle to develop data centers for artificial intelligence in the U.S.,...

Published 24 Jan, 2025 08:31am

Companies

Tesla launches new Model Y in US, Canada, Europe weeks after China

Elon Musk’s Tesla launched a new higher-priced version of the Model Y, its best-selling car, in the United States,...

Published 24 Jan, 2025 08:28am

Japan’s core inflation hits 16-month high, markets brace for BOJ hike

TOKYO: Japan’s core consumer prices rose 3.0% in December year-on-year to mark the fastest annual pace in 16 months,...

Published 24 Jan, 2025 08:26am

Companies

Rolls-Royce wins $11 billion UK nuclear submarine contract

LONDON: Britain said on Friday it had awarded Rolls-Royce a 9 billion pound ($11 billion) contract to design, make...

Published 24 Jan, 2025 08:23am

Energy

LNG exporter Venture Global raises $1.75 bln in US IPO

Liquefied natural gas exporter Venture Global said on Thursday it had raised $1.75 billion, marking the first big...

Published 24 Jan, 2025 08:20am

Forex

Yen rises after BOJ hike; yuan, Antipodean peers get Trump boost

SINGAPORE: The yen rose after the Bank of Japan (BOJ) hiked rates on Friday and revised up its inflation forecasts,...

Updated 24 Jan, 2025 10:45am

Industry

Global labour, environmental standards: ‘Compliance a must for economic potential, maintaining GSP+’

ISLAMABAD: Ensuring compliance with international labour and environmental standards is not only a matter of...

Published 24 Jan, 2025 08:14am

Energy

Oil prices flat, set for weekly drop as Trump touts energy policy

HOUSTON: Oil prices were flat on Friday but were on track to fall on the week after U.S. President Donald Trump...

Updated 24 Jan, 2025 10:47pm

Senate panel requests Aurangzeb to halt FBR’s car ‘venture’

ISLAMABAD: Senator Saleem Mandviwalla, Chairman Standing Committee on Finance & Revenue, has requested the...

Published 24 Jan, 2025 08:08am

Stocks

Asia shares buoyed by Trump’s China comments, yen awaits BOJ

SINGAPORE: Global shares rose on Friday buoyed by the prospect of lower U.S. interest rates and a U.S.-China trade...

Published 24 Jan, 2025 08:06am

Companies

HBL reinforces commitment to sustainability with 2023 Impact Report

KARACHI: Upholding the ethos of the Aga Khan Development Network (AKDN), HBL believes that impact &...

Published 24 Jan, 2025 08:02am

Debt servicing pushes forex reserves down $261m

KARACHI: Pakistan’s total liquid foreign exchange reserves fell by $261.6 million during last week due to external...

Published 24 Jan, 2025 06:26am

Pakistani envoy says investors can register companies with or without Saudi sponsors

FAISALABAD: Pakistan should maximize the export potential of Saudi Arabia particularly in agriculture, textile,...

Published 24 Jan, 2025 06:26am

Middle East

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 24 Jan, 2025 06:26am

Companies

CNN to cut jobs by 6pc amid digital push

WASHINTON: Warner Bros Discovery-owned CNN will lay off about 6 percent of its workforce as the TV news outlet...

Published 24 Jan, 2025 06:26am

Companies

Manufacturing of robotic agri equipment: Chinese company to set up plant in Punjab

LAHORE: China’s AI Force Tech Company will establish a plant in Punjab to manufacture robotic agricultural...

Published 24 Jan, 2025 06:26am

BMP says disappointed by ‘poor’ performance of FPCCI leadership

LAHORE: The Federation of Pakistan Chambers of Commerce & Industry’s Businessmen Panel (BMP), the opposition...

Published 24 Jan, 2025 06:26am

Banks can’t auction joint Khata properties without demarcation of land

LAHORE: Banks cannot auction joint Khata properties without demarcation of land. A higher appellate forum has set...

Updated 24 Jan, 2025 06:58am

Industry

LCCI launches ‘innovative’ online membership renewal system

LAHORE: The Lahore Chamber of Commerce and Industry has launched an innovative online membership renewal system...

Updated 24 Jan, 2025 07:02am

PSW designated as FBR’s technology partner for WeBOC System

ISLAMABAD: In a significant move aimed at digitalizing customs clearance processes, the Federal Board of Revenue and...

Published 24 Jan, 2025 06:26am

Companies

FFC partners with Adamjee Insurance to introduce crop protection

KARACHI: Fauji Fertilizer Company Limited (FFC), Pakistan’s leading fertilizer manufacturer, announced its...

Published 24 Jan, 2025 06:26am

Industry

All unlisted SECP firms directed to upload annual audited statements thru FPUC

ISLAMABAD: The Securities and Exchange Commission of Pakistan has directed all unlisted SECP licenced companies to...

Published 24 Jan, 2025 06:26am

Industry

Alleged anti-competitive practices: CCP launches crackdown on poultry sector

ISLAMABAD: The Competition Commission of Pakistan (CCP) has launched a major crackdown on alleged anti-competitive...

Published 24 Jan, 2025 06:26am

Money & Banking

Asian currencies: Ringgit hovers around one-month high

BENGALURU: Stocks in emerging Asian markets edged lower on Thursday, with South Korean shares impacted by weak...

Published 24 Jan, 2025 06:26am

Money & Banking

Dollar flat

NEW YORK: The dollar hardly budged on Thursday as it held in a tight range after a sharp drop earlier in the week,...

Published 24 Jan, 2025 06:26am

Trump tells Davos: Make your products in America or pay tariffs

DAVOS, (Switzerland): US President Donald Trump told world business leaders Thursday to manufacture in the United...

Published 24 Jan, 2025 06:26am

$20bn pledge: PM expresses gratitude to World Bank for backing

ISLAMABAD: Prime Minister Shehbaz Sharif has expressed his gratitude to the World Bank on Thursday for its ...

Published 24 Jan, 2025 06:26am

Taxes

Sections 177 and 214C of Income Tax law: Structured procedure for audits by IR explained

ISLAMABAD: The Appellate Tribunal Inland Revenue (ATIR) has explained a structured procedure for conducting audits ...

Updated 24 Jan, 2025 08:03am

Industry

Motiwala steps down as TDAP CEO

KARACHI: Zubair Motiwala has resigned from the post of CEO Trade Development Authority, citing personal reasons....

Updated 24 Jan, 2025 08:14am

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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