Companies Ford to pay US states $19.2mn over false advertising claims WASHINGTON: Ford Motor Co will pay $19.2 million to resolve allegations it falsely advertised real-world fuel... Published 24 May, 2022 10:12pm
Stocks European shares fall as business growth data deepens slowdown worries European shares ended lower on Tuesday, tracking declines in global stock markets with business expansion data for... Published 24 May, 2022 09:46pm
Stocks UK stocks hit by global gloom, windfall tax threat for utilities UK’s FTSE 100 fell on Tuesday, tracking a sour global mood with energy stocks leading declines and shares of British... Published 24 May, 2022 09:43pm
Stocks Wall St plunges as Snap’s bleak forecast sparks selloff Wall Street’s main indexes fell on Tuesday, with the tech-heavy Nasdaq leading the slump, as a weak earnings... Published 24 May, 2022 08:36pm
Saudi Arabia finalising extension of $3bn deposit to Pakistan: Saudi Minister of Finance Jadaan says Pakistan is an important ally and the kingdom would stand behind the South Asian nation Updated 24 May, 2022 08:49pm
Business & Economy Budget, energy subsidies main topics being discussed with IMF: Dr Murtaza Syed SBP's acting governor says progress in talks has been made, but it is normal for 'these things to take time' Published 24 May, 2022 08:09pm
Money & Banking Nigeria’s central bank surprises with rate hike, cites inflation ABUJA: Nigeria’s central bank on Tuesday raised the benchmark interest rate by 150 basis points to 13%, its first... Published 24 May, 2022 07:49pm
Companies Lufthansa aims for 20% stake in ITA Airways FRANKFURT: Germany’s Lufthansa wants to acquire a 20% stake in state-owned Italian airline ITA Airways, the... Published 24 May, 2022 07:45pm
Money & Banking U.S. bank profits dip as loan loss provisions jump in response to global uncertainty: FDIC WASHINGTON: U.S. bank profits dropped 6.5% in the first quarter of 2022 to $59.7 billion, as larger firms grew their... Published 24 May, 2022 07:34pm
Money & Banking Global carbon pricing schemes raised $84bn in 2021: World Bank LONDON: Countries around the world raised $84 billion last year by charging firms for emitting carbon dioxide, up... Published 24 May, 2022 07:18pm
Commodities China signs protocol for import of Brazilian corn BEIJING: China’s customs authority has signed an agreement with Brazil to allow imports of Brazilian corn, the... Published 24 May, 2022 07:06pm
Money & Banking UK banks face financial hit over climate inaction: BoE LONDON: UK banks and insurers face big hits to profits unless they take immediate action over their exposure to... Published 24 May, 2022 06:27pm
Companies KPMG fined 3.3mn pounds over Rolls-Royce audit LONDON: Britain’s accounting watchdog said on Tuesday it has fined KPMG 3.3 million pounds ($4.16 million) over the... Published 24 May, 2022 05:55pm
Stocks KSE-100 falls below 42,000 mark, closes at lowest level since Dec 2020 Political noise and a rise in the benchmark interest rate has impacted investor sentiment Updated 24 May, 2022 06:00pm
Money & Banking One in 10 eurozone households own cryptoassets, says ECB FRANKFURT: Nearly one in 10 European households has invested in cryptoassets, an ECB study published Tuesday said,... Published 24 May, 2022 05:15pm
Forex 14 sessions of decline: Rupee falls to 201.41 against dollar Lack of update on IMF talks and political turmoil could hurt the rupee further Updated 24 May, 2022 07:41pm
Energy Indian oil minister says oil at $110 a barrel not sustainable DAVOS: India’s Oil Minister Hardeep Singh Puri told the World Economic Forum in Davos on Tuesday that a crude oil... Published 24 May, 2022 03:56pm
Money & Banking Auto financing for consumers: SBP reduces loan tenure as import bill bites As the country battles a bulging import bill, the State Bank of Pakistan (SBP) reduced on Tuesday the consumer... Published 24 May, 2022 02:30pm
Forex Russian rouble firms past 57 to the dollar for first time in four years The Russian rouble strengthened to levels not seen since March 2018 against the dollar on Tuesday, boosted by... Published 24 May, 2022 02:28pm
Forex Sterling falls to a more than one-week low versus euro LONDON: Britain’s pound fell to a more than one-week low against a strengthening euro on Tuesday but was little... Published 24 May, 2022 02:26pm
Stocks Most Gulf bourses decline amid wider selloff; Saudi gains Most stock markets in the Gulf fell on Tuesday, tracking a pullback in global peers on fears of slowing economic... Published 24 May, 2022 02:23pm
Money & Banking Pakistan's Islamic banking sector to have 30% market share by 2026: Moody’s Estimates average growth over 2021-2026 to range between 25%-28% for total assets and deposits Updated 24 May, 2022 06:37pm
Commodities NY coffee could test support at $2.1265 SINGAPORE: New York coffee could test support at $2.1265 per lb, a break below which may open the way towards... Published 24 May, 2022 02:04pm
Commodities India could restrict sugar exports to 10mn T, govt source says NEW DELHI/MUMBAI: India plans to restrict sugar exports for the first time in six years to prevent a surge in... Published 24 May, 2022 01:53pm
Stocks China, Hong Kong shares slump as Beijing ramps up COVID measures SHANGHAI: China shares fell on Tuesday while Hong Kong’s benchmark index also slumped, as stricter COVID-19 measures... Published 24 May, 2022 01:51pm
Stocks Stock markets retreat on weak global growth worries LONDON: Stock markets retreated Tuesday on renewed concerns over weak global growth, with a profit warning from the... Updated 24 May, 2022 05:27pm
Air France-KLM seeks to raise $2.4bn in new share issue PARIS: Air France-KLM on Tuesday announced a bid to raise 2.26 billion euros ($2.4 bn) by issuing new shares, as the... Published 24 May, 2022 01:35pm
Stocks Tokyo stocks end down despite US gains TOKYO: Tokyo stocks ended down on Tuesday with investors concerned about the spread of Covid-19 in China and its... Published 24 May, 2022 01:28pm
Financial Cryptoverse: Is the end of the bitcoin winter nigh? The crypto winter is into its ninth week and bitcoin can't shake the chills. From technicals to turnover, market... Published 24 May, 2022 12:02pm
Stocks Tokyo shares soften despite Wall Street gains TOKYO: Tokyo stocks opened down Tuesday despite overnight rallies on Wall Street as investors eyed the spread of... Published 24 May, 2022 11:28am
Stocks Hong Kong stocks open lower HONG KONG: Hong Kong stocks opened lower Tuesday, extending the previous day’s losses on concerns over the impact of... Published 24 May, 2022 11:26am
Stocks Asian markets fall on China growth concerns HONG KONG: Asian stocks retreated Tuesday on concerns over the impact of China’s Covid restrictions on the world’s... Published 24 May, 2022 11:21am
Companies Samsung Group commits $356bn in investments with 80,000 new jobs SEOUL: Samsung Group on Tuesday unveiled a massive $356 billion investment blueprint for the next five years aimed ... Updated 24 May, 2022 02:01pm
Companies Toyota to cut global production plan by 100,000 in June TOKYO: Toyota Motor Corp will cut its global production plan by about 100,000 to roughly 850,000 vehicles in June... Published 24 May, 2022 11:01am
Stocks Japan’s Nikkei slips below 27,000 level as US futures skid TOKYO: Japan’s Nikkei edged down on Tuesday, trading below the 27,000 psychological level reclaimed a day earlier,... Published 24 May, 2022 10:43am
Bullion Rate Gold dips as dollar attempts recovery Gold edged lower on Tuesday, as the US dollar rebounded slightly after a slide in the previous session, weighing on... Published 24 May, 2022 10:39am
Real Estate China's property market woes expected to worsen in 2022 BEIJING: China's property market woes are likely to worsen this year with prices remaining flat and sales and... Updated 24 May, 2022 02:00pm
Commodities Wheat extends gains on output concerns; corn, soybeans ease MUMBAI: US wheat futures extended gains on Tuesday, supported by a slower pace of spring wheat planting and amid... Published 24 May, 2022 10:16am
Companies Hyundai Motor Group to invest $50bn in South Korea through 2025 SEOUL: Hyundai Motor Group said on Tuesday it plans to invest 63 trillion won ($49.86 billion) in South Korea... Published 24 May, 2022 10:10am
Stocks Indian shares rise on auto, metals boost; Zomato jumps nearly 7% BENGALURU: Indian shares rose slightly on Tuesday, helped by automobile and metal stocks, with investors eyeing the... Published 24 May, 2022 09:55am
Commodities US oil may fall towards $107.59 SINGAPORE: US oil may break a support at $109.11 per barrel, and fall towards the next support at $107.59. The... Published 24 May, 2022 09:53am
Commodities Palm oil neutral in 6,099-6,354 ringgit range SINGAPORE: Palm oil looks neutral in a range of 6,099-6,354 ringgit per tonne, and an escape could suggest a... Published 24 May, 2022 09:51am
Energy Brent oil may break support at $111.87 and fall more SINGAPORE: Brent oil may retest a support at $111.87 per barrel, with a good chance of breaking below this level and... Published 24 May, 2022 09:49am
Bullion Rate Spot gold may fall towards $1,837 SINGAPORE: Spot gold may fall towards $1,837, following its failure to break a resistance at $1,867 per ounce. The... Published 24 May, 2022 09:43am
Forex Australia, NZ dollars suffer relapse as China clouds outlook SYDNEY: The Australian and New Zealand dollars eased back on Tuesday as U.S stock futures swung lower and markets... Published 24 May, 2022 09:41am
Forex Safe-haven dollar bounces, Aussie slides as Snapchat sours mood TOKYO: The safe-haven dollar clawed back some of its overnight losses on Tuesday and the yen also strengthened as US... Published 24 May, 2022 09:39am
Stocks Australian shares subdued as tech, healthcare offset mining gains Australian shares were little changed in choppy trade on Tuesday, as technology stocks and export-focussed... Published 24 May, 2022 09:36am
Energy Oil rises as tight supply counters economy fears and China curbs LONDON: Oil edged higher on Tuesday, recovering earlier losses, as tight global supply and an expected pick-up in... Updated 24 May, 2022 07:12pm
Industry Economic outlook has ‘darkened’, business and government leaders warn DAVOS: Multiple threats to the global economy topped the worries of the world’s well-heeled at the annual Davos... Published 24 May, 2022 06:43am
Money & Banking HABIBMETRO Bank and DHACSS sign agreement KARACHI: HABIBMETRO Bank and Defence Housing Authority College and School System (DHACSS) signed an agreement to... Published 24 May, 2022 06:43am
Industry FPCCI urges govt to take steps aimed at arresting rupee slide LAHORE: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Monday has urged the government to... Published 24 May, 2022 06:43am
Industry Oman, Iran sign trade deals during president visit MUSCAT: Iran’s President Ebrahim Raisi arrived in Oman on Monday as the two countries signed a string of trade... Published 24 May, 2022 06:13am
Money & Banking JPMorgan raises 2022 interest income outlook NEW YORK: JPMorgan Chase & Co lifted its forecast for interest income and affirmed its profitability target as ... Published 24 May, 2022 06:13am
Money & Banking ECB plans end to negative rates era as inflation soars FRANKFURT: Negative interest rates will soon be a thing of the past in the eurozone, the ECB’s chief signalled... Published 24 May, 2022 06:13am
Industry Media conclave and roundtable conference held in Gwadar: Chinese firms, govt functionaries endeavouring to expedite work on uplift projects GWADAR: The “Haq Do Tahreek” (Rights Movement) of Balochistan has started bearing fruits to the people of the... Published 24 May, 2022 05:35am
Taxes ‘Removal of 17pc GST will reduce price of solar systems by 30pc’ LAHORE: Removal of 17 percent General Sales Tax (GST) would reduce the price of solar systems by 30%, said energy... Updated 24 May, 2022 09:28pm
Taxes Fixed tax scheme being worked out: Only small shopkeepers, not Tier-I retailers, to be covered ISLAMABAD: The Federal Board of Revenue (FBR) is working on a simplified fixed tax scheme for small traders in the... Published 24 May, 2022 05:35am
Taxes POS invoicing prize scheme: RTO’s IR inspector caught misusing authority ISLAMABAD: An Inland Revenue inspector of the Regional Tax Office (RTO) Bahawalpur, deputed at a sweet shop to... Published 24 May, 2022 05:35am
Money & Banking Rouble hits near 7-year high vs euro MOSCOW: The Russian rouble firmed more than 6% against the euro on Monday to a near seven-year high, boosted by... Published 24 May, 2022 05:35am
Money & Banking Euro climbs as ECB eyes rate hikes, dollar slides NEW YORK: The dollar index fell on Monday while the euro rallied after the European Central Bank indicated a move... Published 24 May, 2022 05:35am
Industry Iranian delegation, LCCI discuss possibilities of JVs in various sectors LAHORE: A high-powered Iranian delegation on Monday visited the Lahore Chamber of Commerce & Industry to explore... Published 24 May, 2022 05:35am
Industry PYPA urges govt to impose GST on API ISLAMABAD: The Pakistan Young Pharmacist Association (PYPA) while appreciating the government’s decision of ... Published 24 May, 2022 05:35am
Industry Trade deficit stands at $43.3bn, NA told ISLAMABAD: Minister for Water Resources Syed Khursheed Shah on Monday said there is a huge difference between the... Published 24 May, 2022 05:35am
Industry MoU signed to enhance Pak-China agri cooperation ISLAMABAD: Optima Integration Group, China, and Asia Pak Investments, Pakistan, in spirit to enhance... Published 24 May, 2022 05:35am
Industry OGDCL sets up 3-day free eye camp in Chak Naurang ISLAMABAD: The OGDCL under its CSR Programme established three-day Free Surgical Eye Camp at the OGDCL CSR ... Published 24 May, 2022 05:35am
Industry PBS holds workshop on population & housing census 2022 LAHORE: The Pakistan Bureau of Statistics (PBS) organised first sensitisation workshop regarding forthcoming 7th... Published 24 May, 2022 05:35am
Industry Import ban to hit IT sector: Smuggling, use of informal channels to get a boost: PCA ISLAMABAD: The government’s decision to impose a ban on import of non-essential items under the “Emergency... Published 24 May, 2022 05:35am
Industry FPCCI chief meets Dutch firms for JVs, strategic partnerships KARACHI: Irfan Iqbal Sheikh, President FPCCI, has called on world-class Dutch companies to expand their presence in... Published 24 May, 2022 05:35am
Industry Karachi businessmen assured of 32mmcfd more gas KARACHI: Minister of State for Petroleum Dr. Musadiq Malik on Monday assured the Karachi business community to ... Published 24 May, 2022 05:35am
Industry Indus Motor to launch its first locally-assembled HEV SUV next year KARACHI: Indus Motor Company (IMC) is planning to launch its first locally-assembled Hybrid Electric Vehicle (HEV)... Updated 24 May, 2022 09:32pm
Money & Banking ‘Both branches are managed by female staff’ BoK opens Islamic, conventional branches in Peshawar PESHAWAR: In line with its commitment to better serving customers and expanding its footprint to make banking... Published 24 May, 2022 05:35am
Money & Banking MMBL secures ‘positive outlook’ credit rating from PACRA ISLAMABAD: Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited (MMBL) has added yet another ... Published 24 May, 2022 05:35am
Industry Call for joint efforts to build economy on sustainable basis ISLAMABAD: In a bid to stabilise the country’s faltering economy, Minister for Defence Khawaja Asif on Monday... Published 24 May, 2022 05:35am
Industry Envoy urges Korean, Pakistani businesses to find new avenues of trade KARACHI: Ambassador of the Republic of Korea to Pakistan Suh Sangpyo, while expressing his desire to boost trade... Published 24 May, 2022 05:35am
Money & Banking Cash premiums extend gains on tight supply SINGAPORE: Asia’s cash premiums for fuel oil extended gains on Monday as supply remains tight, with differentials... Published 24 May, 2022 05:35am
Money & Banking China makes 10bn yuan available to subsidise grain growers BEIJING: China’s central government has made available 10 billion yuan ($1.49 billion) for “one-off” subsidies... Published 24 May, 2022 05:35am
Money & Banking Sterling rallies to highest vs dollar in over two weeks LONDON: The pound rallied on Monday to more than two-week highs as broad-based dollar weakness allowed the British... Published 24 May, 2022 05:35am
Money & Banking Australia, NZ dollars swing higher SYDNEY: The Australian and New Zealand dollars swung higher on Monday as global stock markets started the week in a... Published 24 May, 2022 05:35am
Companies VIS maintains entity ratings of Samba Bank KARACHI: VIS Credit Rating Company Limited (VIS) has maintained the entity ratings of Samba Bank Limited (‘SBL’... Published 24 May, 2022 05:35am