News Archives for Business & Finance - 2025-01-30

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Business & Finance - 2025-01-30

Industry

Committee to probe ex-minister Sarwar’s statement in 2020 regarding pilot licences

The federal cabinet on Thursday approved formation of a fact-finding committee to investigate a statement made by...

Published 30 Jan, 2025 10:45pm

Taxes

Senate panel questions ‘effectiveness’ of training programmes for FBR officers

Revenue shortfall of Rs384 billion recorded in first half FY25, Standing Committee on Finance and Revenue informed

Updated 30 Jan, 2025 10:50pm

Stocks

Gulf markets end mixed as investors eye earnings

Stock markets in the Gulf ended mixed on Thursday ahead of more corporate earnings, with the Dubai index ending four...

Published 30 Jan, 2025 07:14pm

Forex

SBP-held foreign exchange reserves decrease $76mn, now stand at $11.37bn

Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased by $76 million on a weekly basis,...

Updated 30 Jan, 2025 09:42pm

Commodities

Asia rice: Muted demand and rising supply keep Indian, Thai rates steady

Prices of rice shipped from top exporter India were steady at an 18-month low while Thai rates were also unchanged...

Published 30 Jan, 2025 06:33pm

USA

Dow to cut 1,500 jobs as part of $1bn cost-saving plan after Q4 miss

Dow missed fourth-quarter profit estimates on Thursday, and said it will lay off 1,500 employees as a part of its $1...

Published 30 Jan, 2025 05:52pm

Commodities

Gold price per tola surpasses Rs290,000 for first time in Pakistan

Gold prices in Pakistan hit record high on Thursday, in line with their increase in the international rates. In the...

Published 30 Jan, 2025 05:22pm

Stocks

State-owned firms lead India’s benchmark indexes higher

India’s benchmark indexes advanced on Thursday, as state-owned companies gained on expectations of a government...

Published 30 Jan, 2025 05:21pm

Stocks

Sri Lankan shares close largely unchanged

CSE All-Share index dipped 0.01% to 17,115.21

Published 30 Jan, 2025 05:16pm

Commodities

Copper, aluminium edge higher as market awaits tariff details

LONDON: Copper and aluminium prices crept higher on Thursday as investors waited to see whether U.S. President...

Published 30 Jan, 2025 05:14pm

Forex

Sterling treads water as markets look to Bank of England

LONDON: The pound was little changed on Thursday as markets were focused on a raft of major central bank meetings...

Published 30 Jan, 2025 03:59pm

Forex

Kenyan shilling flat on lull in foreign exchange demand

The shilling traded at 129.00/129.50 per dollar

Published 30 Jan, 2025 03:55pm

Energy

Shell annual profit drops to $16bn as oil prices fall

LONDON: British energy giant Shell on Thursday announced a 17-percent drop in annual net profit owing to weaker oil...

Published 30 Jan, 2025 03:52pm

Companies

Bank Alfalah reports Rs39.9bn profit in 2024

Bank Alfalah saw its consolidated profit jump to Rs39.9 billion during 2024, which is over 10% higher than its...

Updated 30 Jan, 2025 05:20pm

Bullion Rate

Gold in tight range with focus on Trump policies, inflation data

Gold traded in a relatively narrow price range on Thursday as investors focused on US President Donald Trump’s...

Published 30 Jan, 2025 01:41pm

IMF’s managing director to visit Ethiopia for talks with authorities

NAIROBI: International Monetary Fund Managing Director Kristalina Georgieva will visit Ethiopia next week for talks...

Published 30 Jan, 2025 01:31pm

Statistics

Policy measures successfully curbing inflation: Finance Division

The Finance Division has said that policy interventions and administrative actions have successfully controlled...

Updated 30 Jan, 2025 10:55pm

ECB to cut rates again, keep door open to further easing

FRANKFURT: The European Central Bank is all but certain to cut interest rates on Thursday and is likely to keep open...

Published 30 Jan, 2025 12:56pm

Brazil central bank hikes rates by 100 bps, confirms same in March

BRASILIA: Brazil’s central bank raised its benchmark interest rate by 100 basis points for the second straight...

Published 30 Jan, 2025 12:28pm

India’s Tata Motors hits 14-month low as Q3 results spark demand concerns for JLR

Indian carmaker Tata Motors’ shares plummeted about 9% to a 14-month low on Thursday, after its third-quarter...

Published 30 Jan, 2025 12:23pm

Wizz Air cuts annual profit forecast on rising costs

European low-cost airline Wizz Air cut its annual net income forecast for the second time in six months on Thursday,...

Published 30 Jan, 2025 12:20pm

Currency

Court approves Bank Makramah’s Rs10bn settlement with Omni Group

In a significant breakthrough for Bank Makramah Limited (BML), a court has accepted a settlement application for the...

Updated 30 Jan, 2025 10:57pm

Bank of England readies rate cut and could hint at more to come

The Bank of England looks likely to cut interest rates next week, when it could also nudge investors to expect...

Published 30 Jan, 2025 11:59am

Exchange

Rupee registers marginal decline against US dollar

Currency settles at 278.97 against greenback in inter-bank market

Updated 30 Jan, 2025 10:24pm

Telecom giant Nokia says net profit rose 89% in 2024

HELSINKI: Finnish telecommunications equipment giant Nokia reported on Thursday an 89 percent rise in net profit for...

Published 30 Jan, 2025 11:48am

Companies

Sanofi meets estimates for fourth-quarter profit, plans 5 billion euros in buybacks

French drugmaker Sanofi reported a fourth-quarter profit that came in-line with analysts’ estimates on Thursday, and...

Published 30 Jan, 2025 11:43am

Deutsche Bank posts weaker-than-expected profit and ditches 2025 cost target

FRANKFURT: Deutsche Bank on Thursday posted a bigger-than-expected drop in fourth quarter and 2024 full-year profit...

Published 30 Jan, 2025 11:41am

ABB boosted by data centre demand during fourth quarter

ZURICH: ABB said it was seeing strong demand for electrical products used by data centres needed for artificial...

Published 30 Jan, 2025 11:20am

Import surge seen curbing US economic growth in fourth quarter

WASHINGTON: U.S. economic growth likely slowed in the fourth quarter as imports surged and a strike at Boeing hurt...

Published 30 Jan, 2025 11:02am

Caixabank’s fourth quarter net profit rises 33% on higher fees

MADRID: Spain’s Caixabank said on Thursday its net profit rose 33% in the fourth quarter from the same period in...

Published 30 Jan, 2025 10:58am

Companies

Toyota sells 10.8 million vehicles in 2024 to remain world’s top-selling automaker

TOKYO: Toyota Motor sold 10.8 million vehicles in 2024, it said on Thursday, remaining the world’s top-selling...

Published 30 Jan, 2025 10:55am

Philippines Q4 GDP grows 5.2% y/y, below expectations

MANILA: The Philippine economy expanded an annual 5.2% in fourth quarter from a year earlier, official data showed...

Published 30 Jan, 2025 10:50am

Forex

Australia, NZ dollars remain hostage to rate and tariff risks

SYDNEY: The Australian and New Zealand dollars found a sliver of support on Thursday after three straight sessions...

Published 30 Jan, 2025 10:48am

Stocks

Commodity, tech lead Australian shares higher

Australian shares inched higher on Thursday, led by gains in commodity and technology stocks, while the US Federal...

Published 30 Jan, 2025 10:46am

Stocks

Japan’s Nikkei rises as chip-related shares gain on Advantest’s forecast

TOKYO: Japan’s Nikkei share average inched higher on Thursday, as investors snapped up chip-related shares after...

Published 30 Jan, 2025 10:45am

Commodities

Aluminium firms after EU proposes ban on imports from Russia

London aluminium edged higher on Thursday after the European Union proposed banning imports of the metal from Russia...

Published 30 Jan, 2025 10:43am

Mutual Funds

India bond yields seen little changed with focus on central bank debt buy

MUMBAI: Indian government bonds are expected trade largely unchanged in early Thursday deals, after the Federal...

Published 30 Jan, 2025 10:40am

Stocks

KSE-100 snaps 3-session losing run, gains over 1,700 points on strong buying

Buying returned to the Pakistan Stock Exchange (PSX) after three negative sessions as its benchmark KSE-100 Index...

Updated 30 Jan, 2025 07:32pm

Stocks

Indian shares set to open flat as traders assess Fed decision

India’s benchmark indexes are set for a muted open on Thursday, likely to track subdued Asian peers, after the U.S....

Published 30 Jan, 2025 08:30am

Forex

Pressure on Indian rupee to linger after Fed signals no hurry to cut rates

MUMBAI: The Indian rupee is likely to stay on the defensive on Thursday, after the U.S. Federal Reserve expectedly...

Published 30 Jan, 2025 08:20am

Microsoft, Meta CEOs defend hefty AI spending after DeepSeek stuns tech world

Days after Chinese upstart DeepSeek revealed a breakthrough in cheap AI computing that shook the U.S. technology...

Published 30 Jan, 2025 08:17am

Companies

Nissan cuts shifts, offers employee buyouts at 3 US plants in bid to shed jobs

TOKYO: Japan’s Nissan Motor is offering buyouts to workers and cutting back shifts at three U.S. factories, a...

Published 30 Jan, 2025 08:13am

Tesla commits to cheaper cars in first half, sees autonomous vehicles ‘in the wild’ in June

Tesla said it was on track to roll out new, cheaper electric vehicle models in the first half of 2025 and would...

Published 30 Jan, 2025 08:08am

SoftBank in talks to invest up to $25 billion into OpenAI, FT reports

SoftBank is in talks to invest up to $25 billion into ChatGPT owner OpenAI and become the AI firm’s largest...

Published 30 Jan, 2025 08:04am

Forex

Dollar set to pounce on euro if ECB offers dovish guidance

SYDNEY: Dollar bulls were ready to pounce on the euro on Thursday should the European Central Bank sound dovish on...

Published 30 Jan, 2025 08:01am

Energy

Oil dips, focus on Trump tariff threats vs Canada, Mexico

LONDON: Oil prices slipped for a second day on Thursday after U.S. crude stockpiles rose more than expected, though...

Updated 30 Jan, 2025 05:23pm

Stocks

Asia stocks mixed, dollar steady as traders consider Fed rate pause

TOKYO: Asian share markets were mixed in thin trading on Thursday as much of the region was on holiday for the Lunar...

Published 30 Jan, 2025 07:55am

Industry

PATDC & SCE: TDAP organises awareness session

KARACHI: International Markets Development Division (Africa Desk) of the Trade Development Authority of Pakistan...

Published 30 Jan, 2025 07:48am

Companies

FFC earns Rs85.5bn consolidated profit in 2024

ISLAMABAD: Fauji Fertilizer Company Limited (FFC) has announced its financial results for the year ended December ...

Published 30 Jan, 2025 07:45am

Companies

PodVare generates Rs35m revenue in first year

ISLAMABAD: Pakistani Startup PodVare - soundproof meeting pods and workstation provider based out of Karachi - has...

Published 30 Jan, 2025 07:25am

Companies

PPL remains committed to skill enhancement of youth in Sui

KARACHI: As part of its Corporate Social Responsibility (CSR) programme, Pakistan Petroleum Limited (PPL) remains...

Published 30 Jan, 2025 07:19am

Companies

LCI announces Rs6,301m profit after tax in six months

KARACHI: Following the meeting of the Board of Directors, Lucky Core Industries Limited (the ‘Company’) ...

Published 30 Jan, 2025 07:18am

PM urges foreign investors: come and invest here

ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday emphasised the government’s unwavering commitment to create ...