News Archives for Business & Finance - 2022-09-19

<<>>

Business & Finance - 2022-09-19

Stocks

Wall Street flat but trading choppy ahead of Fed rate meet

Wall Street's main indexes were flat in the early afternoon on Monday amid choppy trading, bouncing around as...

Updated 20 Sep, 2022 12:02am

Energy

Saudi Arabia’s July crude oil exports rise to over 2-year peak

Top oil exporter Saudi Arabia’s July crude oil exports gained for a second-straight month to their highest in more...

Published 19 Sep, 2022 07:19pm

Stocks

KSE-100 loses 0.38%, closes in red for fourth successive session

Participation remains thin as investors adopt wait-and-watch strategy

Published 19 Sep, 2022 06:33pm

Commodities

Russian wheat prices up with high demand, strong rouble

MOSCOW: Russian wheat prices rose last week with high demand, strong rouble currency and concerns about the...

Published 19 Sep, 2022 03:24pm

Financial

ECB wants banks to review capital plans given downturn, Enria says

FRANKFURT: The euro zone banking sector is robust ahead of a possible recession but the European Central Bank is...

Published 19 Sep, 2022 03:20pm

Stocks

Hong Kong stocks start week with loss

HONG KONG: Hong Kong stocks ended with more losses Monday, in line with a sell-off across Asia, as investors prepare...

Published 19 Sep, 2022 03:15pm

Energy

PSO eyes building $500mn LNG terminal near Karachi: report

State-owned corporation also intends to enter digital payments sector, planning to apply for a licence to become a mobile wallet operator, says CEO

Updated 19 Sep, 2022 04:44pm

Forex

South African rand slips as strong dollar, power cuts weigh

JOHANNESBURG: The South African rand traded weaker early on Monday, bruised by a strong dollar and lengthy power...

Published 19 Sep, 2022 02:54pm

Stocks

Gulf stocks slide as interest hikes weigh on sentiment

Gulf stocks traded on the back foot on Monday with markets playing it safe as they brace for a series of interest...

Published 19 Sep, 2022 02:54pm

Stocks

Markets struggle ahead of another Fed rate hike

PARIS: Stock markets dropped again Monday, extending last week’s rout as investors brace for another big rate hike...

Updated 19 Sep, 2022 05:07pm

Companies

Volkswagen does not see chip shortage ending in 2023

BERLIN: Volkswagen no longer sees chip shortages ending in 2023, and the German carmaker is preparing for the “new...

Published 19 Sep, 2022 02:54pm

Commodities

OGDC says gas reserves discovered in Khyber Pakhtunkhwa

Gas reserves have been discovered in Tolanj West-02, a development well in Tal block located in Kohat Plateau, ...

Updated 19 Sep, 2022 06:55pm

Business & Economy

Inflation in Pakistan expected to be over 26% in September: report

Food prices, weaker rupee and aftershocks of devastating floods to contribute to high CPI reading

Updated 19 Sep, 2022 04:57pm

Commodities

Copper slips on gloomy demand prospects ahead of Fed rate decision

LONDON: Copper prices slipped on Monday as worries about global demand were reinforced by expectations the US...

Updated 19 Sep, 2022 05:47pm

Bullion Rate

Spot gold may revisit Sept. 16 low of $1,653.10

SINGAPORE: Spot gold may revisit its Sept. 16 low of $1,653.10 per ounce, as the bounce from this level seems to...

Published 19 Sep, 2022 11:42am

Energy

US oil may retest resistance at $86.76

SINGAPORE: US oil may retest a resistance at $86.76 per barrel, a break above could open the way towards...

Published 19 Sep, 2022 11:41am

Commodities

Palm oil may retest support of 3,686 ringgit

SINGAPORE: Palm oil may retest a support of 3,686 ringgit per tonne, a break below which could be followed by a...

Published 19 Sep, 2022 11:40am

Energy

Brent oil may extend gains to $93.78

Brent oil may break a resistance at $92.53 per barrel and extend its gains to $93.78. Following its failure to break...

Published 19 Sep, 2022 11:37am

Forex

Indian rupee nudges higher on RBI's call to fight inflation; Fed eyed

MUMBAI: The Indian rupee firmed on Monday after the Reserve Bank of India vowed to front-load rate hikes to tame...

Published 19 Sep, 2022 11:33am

Forex

Dollar off 20-year peak as Fed headlines big central bank week

TOKYO: The dollar lingered near a two-decade top on major peers on Monday, ahead of a week loaded with market...

Published 19 Sep, 2022 11:29am

Stocks

China, Hong Kong stocks dip further ahead of Fed meeting outcome Zhen

HONG KONG: Chinese shares tumbled for a four straight session on Monday, despite the central bank injecting...

Updated 19 Sep, 2022 02:24pm

Forex

Rupee inches close to historic low, settles at 237.91 against US dollar

Cumulative depreciation in the past 12 sessions goes to 8.1%

Updated 19 Sep, 2022 09:36pm

Forex

Asian currencies weaken as investors brace for series of central bank meetings

Asian currencies broadly declined on Monday as the Chinese yuan weakened further, while shares also fell ahead of...

Published 19 Sep, 2022 11:25am

Commodities

Palm oil climbs 2% on weaker ringgit, strong early Sept exports

KUALA LUMPUR: Malaysian palm oil futures rose more than 2% on Monday as trading resumed after a three-day closure,...

Published 19 Sep, 2022 11:21am

Stocks

Asian markets extend losses as traders brace for Fed hike

HONG KONG: Asian markets fell Monday as traders extended last week’s rout across risk assets, with expectations high...

Published 19 Sep, 2022 10:56am

Stocks

Indian shares rise as finance, autos gain; central banks in focus

BENGALURU: Indian shares ended higher on Monday, lifted by gains in financials and auto companies, while investors...

Updated 19 Sep, 2022 04:24pm

Stocks

Australia shares end lower ahead of central bank meetings

Australian shares ended lower on Monday, dragged by energy and tech stocks, as sentiment remained weak at the start...

Updated 19 Sep, 2022 01:49pm

Forex

China’s yuan eases ahead of bumper global central bank week

SHANGHAI: China’s yuan eased against the greenback on Monday and traded on the weaker side of the psychologically...

Published 19 Sep, 2022 10:26am

Energy

Oil little changed as markets debate fed hikes and supply woes

HOUSTON: Oil prices held steady in volatile trading on Monday, as traders balanced worries about tight supplies with...

Updated 19 Sep, 2022 10:32pm

Mutual Funds

Bond yields dip as strong tax collections aid sentiment; Fed meet eyed

MUMBAI: Indian government bond yields were marginally lower in early trades on Monday, as improvement in government...

Published 19 Sep, 2022 09:53am

Commodities

CBOT soybeans may test resistance at $14.71-1/2

SINGAPORE: The CBOT soybean November contract may test a resistance at $14.71-1/2 per bushel, a break above could...

Published 19 Sep, 2022 09:51am

Companies

Canadian pension fund OTPP to buy 30pc stake in India’s Mahindra renewables assets

MUMBAI: Canadian pension fund Ontario Teachers’ Pension Plan has agreed to buy a 30% stake for 23.71 billion ...

Published 19 Sep, 2022 07:56am

Industry

Rise in electricity rates crippling power looms sector: APCPLA

FAISALABAD: Chairman All Pakistan Cotton Power Looms Association (APCPLA) Rana Khurram Akhlaq Munj has said that the...

Published 19 Sep, 2022 07:21am

Industry

AGP detects irregularities, wasteful spending in body meant for industries’ uplift in KP

PESHAWAR: The Auditor General of Pakistan (AGP) has detected irregularities, wasteful expenditures and losses to the...

Published 19 Sep, 2022 07:14am

Industry

Railways leases out 4,694 acres of land to generate revenue

ISLAMABAD: Pakistan Railways had leased out as many as 4,694 acres of its precious land during the last four years ...

Published 19 Sep, 2022 07:11am

Industry

LCCI annual elections: Progressive Group forms bodies

LAHORE: Progressive Group in the Lahore Chamber of Commerce and Industry (LCCI) has constituted five committees to...

Published 19 Sep, 2022 06:47am

Industry

Master plan for uplift of mineral sector being formulated

LAHORE: The Mines and Minerals Department has initiated a master plan to switch over from the traditional regulatory...

Published 19 Sep, 2022 06:45am

Companies

Askari Life Assurance offers relief to its employees

KARACHI: Amidst increasing inflation, Askari Life Assurance has offered its employees salary relief. This move is a...

Published 19 Sep, 2022 06:33am

Industry

‘GDP to shrink by 3pc’: Govt urged to initiate reforms to bring about economic stability

LAHORE: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) former president and Businessmen Panel ...

Published 19 Sep, 2022 06:17am

Taxes

Tax expert criticises ‘overstaffed’ FBR

ISLAMABAD: Former chairman Federal Board of Revenue (FBR) Shabbar Zaidi has said that the FBR is collecting most of...

Updated 19 Sep, 2022 09:24am

Profit rate by CDNS: Retrospective downward revision declared as ‘misrule’

ISLAMABAD: While accepting a representation of an aggrieved citizen against a decision of the Wafaqi Mohtasib,...

Updated 19 Sep, 2022 09:37am

Industry

‘Ease of Doing Business’: Sarhad chamber hails appointment of Bilour as CM’s focal person

PESHAWAR: The Sarhad Chamber of Commerce and Industry (SCCI) welcomed the decision of Khyber Pakhtunkhwa government...