News Archives for Business & Finance - 2025-01-29

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Business & Finance - 2025-01-29

Climate change: Senate committee pushes for ‘stronger’ renewable energy, EV initiatives

Pakistan aims to install 3,000 EV charging stations by 2030, but only eight have been established, panel meeting told

Published 29 Jan, 2025 09:42pm

South Asia

OpenAI chief Sam Altman plans India visit

NEW DELHI: Microsoft-backed OpenAI’s chief Sam Altman is planning to visit India next week, three sources with...

Published 29 Jan, 2025 09:25pm

Money & Banking

US Fed expected to hold rate steady despite Trump pressure to cut

WASHINGTON: After three interest rate cuts in a row, the US Federal Reserve is expected to signal it will remain on...

Updated 29 Jan, 2025 10:55pm

Companies

DeepSeek’s chatbot achieves 17% accuracy, trails Western rivals in NewsGuard audit

Chinese AI startup DeepSeek’s chatbot achieved only 17% accuracy in delivering news and information in a NewsGuard...

Published 29 Jan, 2025 07:55pm

Commodities

Gold price per tola increases Rs2,300 in Pakistan

Gold prices in Pakistan registered an increase on Wednesday in line with their rise in international rates. In the...

Updated 29 Jan, 2025 10:12pm

Companies

Startup Paismo, Bank Alfalah partner to make HR services seamless

HR tech startup Paismo and one of the country’s largest commercial banks Bank Alfalah have signed a partnership for...

Updated 29 Jan, 2025 10:49pm

Stocks

IT leads Indian shares higher; Fed policy eyed

India’s benchmark indexes rose on Wednesday, as information technology stocks tracked a rebound in global peers,...

Published 29 Jan, 2025 06:03pm

Stocks

Sri Lanka shares close flat after central bank holds rate

CSE All-Share index settled largely unchanged at 17,117.18

Published 29 Jan, 2025 06:00pm

Commodities

Copper hits three-week low as US tariff threats cloud demand outlook

LONDON: Copper prices in London fell to their lowest in three weeks on Wednesday as U.S. President Donald Trump’s...

Published 29 Jan, 2025 05:57pm

ADB approves $500mn disaster financing for Philippines

MANILA: The Asian Development Bank approved a second $500 million loan for the disaster-prone Philippines on...

Published 29 Jan, 2025 03:43pm

Stocks

European shares hit record high as ASML lifts tech stocks after robust earnings

European shares climbed a record high on Wednesday, as chip equipment maker ASML led technology stocks higher after...

Published 29 Jan, 2025 02:29pm

Stocks

Major Gulf markets fall on weak earnings; Al Rajhi Bank lifts Saudi index

Most Gulf stock markets opened lower on Wednesday due to lacklustre corporate earnings, although the Saudi index...

Published 29 Jan, 2025 01:59pm

Business & Economy

US business delegation explores investment opportunities in Pakistan

Meets Prime Minister Shehbaz Sharif, expresses interest in key sectors including mining and minerals, according to PMO statement

Updated 29 Jan, 2025 10:12pm

Mutual Funds

JGB yields dip with US peers as investors eye Fed decision

TOKYO: Yields of long- and superlong-term Japanese government bonds (JGB) slid on Wednesday as US Treasury yields...

Published 29 Jan, 2025 12:14pm

Commodities

Jordan issues tender to buy up to 120,000 metric tons wheat, traders say

HAMBURG: Jordan’s state grain buyer has issued an international tender to buy up to 120,000 metric tons of milling...

Published 29 Jan, 2025 12:09pm

Companies

Truckmaker Volvo’s Q4 profit falls more than expected, raises dividend

STOCKHOLM: Swedish truckmaker AB Volvo reported on Wednesday a larger drop than expected in fourth-quarter operating...

Published 29 Jan, 2025 12:07pm

Australia inflation cools in Q4, opens door to rate cut

SYDNEY: Australian consumer prices rose at the slowest pace in almost four years in the December quarter, while a...

Published 29 Jan, 2025 11:28am

Sony Group says President Totoki to add CEO role from April

TOKYO: Sony Group President Hiroki Totoki will add the CEO role from April 1, while incumbent Chairman-CEO Kenichiro...

Published 29 Jan, 2025 11:25am

Forex

Thai baht/US dollar stronger on Wednesday

The baht was 0.21% higher at 33.77 versus the dollar

Published 29 Jan, 2025 11:17am

Forex

Australian dollar slips as soft inflation stokes rate cut bets

SYDNEY: The Australian dollar hit a one-week low on Wednesday as a surprisingly soft reading on domestic inflation...

Published 29 Jan, 2025 11:14am

Bullion Rate

Gold holds steady as investors eye Fed decision, Trump tariff moves

Gold prices were little changed on Wednesday as market participants awaited the US interest rate verdict, while the...

Published 29 Jan, 2025 11:07am

Dubai’s Emirates NBD posts flat Q4 profit as investment offsets higher income

DUBAI: Emirates NBD, Dubai’s biggest bank by assets, reported on Wednesday a flat fourth-quarter net profit as...

Published 29 Jan, 2025 11:01am

Commodities

LME copper hovers near 3-week low as US tariff risks weigh

London copper on Wednesday lingered near a three-week low hit in the last session as US President Donald Trump’s...

Published 29 Jan, 2025 10:53am

Commodities

Grain and oilseed prices rise as market braces for US tariffs

CANBERRA: Chicago corn, wheat and soybean futures rose on Wednesday as traders waited to see if US President Donald...

Published 29 Jan, 2025 10:46am

Stocks

‘Lack of triggers’: KSE-100 closes 543 points lower as selling persists

Selling pressure continued at the Pakistan Stock Exchange (PSX) on Wednesday, with the benchmark KSE-100 Index...

Updated 29 Jan, 2025 09:20pm

Mutual Funds

India bond yields dip, traders eye start of central bank’s liquidity infusion

MUMBAI: Indian government bond yields moved marginally lower in early deals on Wednesday, ahead of the start of the...

Published 29 Jan, 2025 10:42am

Forex

Indian rupee to dip on US tariff woes, RBI rate-cut bets; Fed’s decision awaited

MUMBAI: The Indian rupee is poised to open lower on Wednesday, weighed down by renewed worries over US tariffs and...

Published 29 Jan, 2025 10:41am

Stocks

Australian shares extend gain as easing inflation opens door to rate cut

Australian shares extended early gains on Wednesday to hover near a record high, after data showed inflation slowed...

Published 29 Jan, 2025 10:39am

Stocks

Japan’s Nikkei tracks Wall Street higher

TOKYO: Japan’s Nikkei share average rose in early trade on Wednesday, led by technology stocks after US shares...

Published 29 Jan, 2025 10:38am

Russian bank VTB expects retail lending to go into hibernation in 2025

MOSCOW: State-owned Russian bank VTB said it expects the retail lending market to go into hibernation mode this year...

Published 29 Jan, 2025 10:28am

Alibaba releases AI model it claims surpasses DeepSeek-V3

BEIJING: Chinese tech company Alibaba on Wednesday released a new version of its Qwen 2.5 artificial intelligence...

Updated 29 Jan, 2025 10:53pm

Currency

Rupee registers marginal gain against dollar

Currency settles at 278.87 against greenback in inter-bank market

Updated 29 Jan, 2025 09:44pm

Companies

Engro Corporation to sell rice processing subsidiary to MAP Rice Mills in Rs2.4bn deal

Pakistan’s conglomerate, Engro Corporation, has decided to sell its wholly-owned subsidiary, Engro Eximp...

Updated 29 Jan, 2025 10:15pm

Sri Lanka central bank holds key policy rate steady as budget looms

COLOMBO: Sri Lanka’s central bank held its overnight policy rate steady on Wednesday to underpin a stronger economic...

Published 29 Jan, 2025 08:31am

Brazil’s Azul reduces $1.6bn in debt as it concludes restructuring process

SAO PAULO: Brazilian airline Azul said on Tuesday it has finalized a debt restructuring process regarding financial...

Published 29 Jan, 2025 08:17am

HSBC’s global brand in the balance as it doubles down on Asia bet

LONDON: HSBC Chairman Mark Tucker leaned into the microphone at a vast conference table in Beijing, telling British...

Published 29 Jan, 2025 08:15am

Taiwan may offer help for industry over Trump tariff threats

TAIPEI: Taiwan’s government will soon look at whether it needs to help its domestic industry over threats by U.S....

Published 29 Jan, 2025 08:10am

Stocks

Indian shares likely to open flat ahead of Fed decision

India’s benchmark indexes are on track for a cautious start on Wednesday, as investors remained wary ahead of the...

Published 29 Jan, 2025 08:06am

CBD Punjab, STZA forge strategic partnership

LAHORE: Punjab Central Business District Development Authority (PCBDDA) and the Special Technology Zones Authority...

Published 29 Jan, 2025 08:00am

Nestle to invest $1 billion in Mexico over three years, president says

MEXICO CITY: Packaged food company Nestle will invest $1 billion in Mexico over the next three years to boost...

Published 29 Jan, 2025 07:58am

Energy

Oil prices dip as US crude inventories surge, tariff concerns loom

Oil prices fell on Wednesday, following a rise in U.S. crude stockpiles and easing worries over Libyan supply, while...

Updated 29 Jan, 2025 05:49pm

Stocks

Tech stocks rebound in Asia as DeepSeek worries ease

TOKYO/BOSTON: Technology stocks led gains in Asia-Pacific markets on Wednesday, tracking advances on Wall Street...

Published 29 Jan, 2025 07:51am

Companies

HBL MfB appoints Maya Inayat Ismail as Board’s chairperson

ISLAMABAD: HBL Microfinance Bank (HBL MfB) announ-ced the app-ointment of Maya Inayat Ismail as the Chairperson of...

Published 29 Jan, 2025 07:45am

Customs tribunals could not bypass ruling on PCT Heading

LAHORE: The customs tribunals could not bypass the ruling issued by the Classification Committee for determination...

Published 29 Jan, 2025 07:43am

Industry

HCSTSI criticises ongoing severe load-shedding by HESCO

HYDERABAD: President of Hyderabad Chamber of Small Traders & Small Industry (HCSTSI), Muhammad Saleem Memon, has...