Business & Finance - Business Recorder

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Business & Finance - 2022-11-24

Stocks

Toronto blue chips hit over 5-month high on tech, materials boost

Canada’s main stock index hit over five-month highs on Thursday, supported by technology, materials and financial...

Published 24 Nov, 2022 09:12pm

Forex

SBP-held foreign exchange reserves fall $134mn, stand at $7.83bn

Decrease comes on account of external debt repayment

Published 24 Nov, 2022 08:12pm

Currency

Canadian dollar steadies as investors cheer Fed’s dovish signal

TORONTO: The Canadian dollar was little changed against its broadly weaker U.S. counterpart on Thursday as lower oil...

Published 24 Nov, 2022 07:58pm

Stocks

KSE-100 closes with marginal gain ahead of COAS appointment

Trading remained lacklustre and index moved in a narrow range

Published 24 Nov, 2022 07:43pm

Stocks

Gulf markets mixed on falling oil, signs of Fed slowdown

Stock markets in the Gulf ended mixed on Thursday as oil prices fell, while less-hawkish minutes from the U.S....

Published 24 Nov, 2022 06:28pm

Currency

Pakistan ‘treading path’ to launching its own digital currency: SBP

Central bank governor Jameel Ahmed weighing cost and benefits of this venture

Updated 24 Nov, 2022 07:11pm

Stocks

Sri Lankan shares fall nearly 2% after central bank holds rates

Sri Lankan shares closed down on Thursday, snapping a two-day rally, after the island nation’s central bank held...

Published 24 Nov, 2022 05:08pm

Companies

Haier's inverter: a winter companion

As the weather turned chilly with cold and dry winds blowing, you must be thinking of how to keep your home warm...

Published 24 Nov, 2022 05:05pm

Companies

Ford recalls nearly 519,000 US vehicles over fire risks

Ford Motor Co is recalling nearly 519,000 sport utility vehicles (SUVs) in the United States over fire risks from...

Published 24 Nov, 2022 04:53pm

Money & Banking

Turkish central bank lowers rate to 9%, says it will halt easing

ISTANBUL: Turkey’s central bank cut its policy rate by 150 basis points to 9% as expected on Thursday and said it...

Published 24 Nov, 2022 04:43pm

Stocks

Indian shares hit new highs on boost from IT, banks

BENGALURU: India’s main indexes closed at record highs on Thursday, powered by a rally in shares of IT companies and...

Published 24 Nov, 2022 04:26pm

Companies

Hubco takes legal action against CPHGC encashment notice

CPHGC had served notice to Hubco for encashment of a Standby LC worth $150 million

Updated 24 Nov, 2022 04:16pm

Business & Economy

Pakistan does not face any risk of default, reiterates Ishaq Dar

Finance minister says on his advice government made 'categorical decision' not to approach Paris Club for debt relief

Updated 24 Nov, 2022 03:59pm

Stocks

European stock markets steady at open

LONDON: European stock markets diverged Thursday after a similar mixed showing in Asia as traders assessed the...

Published 24 Nov, 2022 01:58pm

Mutual Funds

JGB yields fall after Fed minutes signal slower rate hike pace

TOKYO: Japanese government bond (JGB )yields fell on Thursday after the US Federal Reserve’s November policy meeting...

Published 24 Nov, 2022 01:49pm

Forex

Russian rouble gains vs dollar with support from month-end taxes

MOSCOW: The Russian rouble firmed on Thursday, continuing to hover in the range of 60 to 61 per dollar, supported by...

Published 24 Nov, 2022 01:35pm

Energy

Coral Energy turns focus to Asia, halts trade in Russian crude

NEW DELHI: Dubai-based trader Coral Energy said it is looking at expanding its business in Asia where energy demand...

Published 24 Nov, 2022 01:29pm

Stocks

Major Gulf bourses ease as oil prices fall

Major stock markets in the Gulf were in negative territory early on Thursday as oil prices eased, with the Saudi...

Published 24 Nov, 2022 01:22pm

Energy

UK’s Ofgem says price cap will rise to nearly $5,200 without intervention

LONDON: British energy regulator Ofgem said its price cap for average household energy bills would rise by about 21%...

Published 24 Nov, 2022 01:18pm

Stocks

Australian shares end higher on Fed slowdown, Chinese property steps

Australian shares closed higher for a third straight session on Thursday, as sentiment remained upbeat after the US...

Updated 24 Nov, 2022 01:52pm

Energy

Brent oil to revisit Monday low of $82.31

Brent oil is expected to revisit its Monday low of $82.31 per barrel, probably after a moderate consolidation above...

Published 24 Nov, 2022 12:05pm

Commodities

Palm oil may retest resistance at 4,128 ringgit

SINGAPORE: Palm oil may retest a resistance at 4,128 ringgit a tonne, a break below which could open the way towards...

Published 24 Nov, 2022 12:01pm

Energy

US oil may retest support at $75.47

SINGAPORE: US oil may retest a support at $75.47 per barrel, driven by a wave e. This is the fifth wave of a...

Published 24 Nov, 2022 11:58am

Commodities

India’s cotton exports stall as farmers delay sales hoping for higher prices

MUMBAI: Indian traders are struggling to export cotton despite higher production as farmers are delaying sale of...

Published 24 Nov, 2022 11:55am

Bullion Rate

Spot gold may end bounce around $1,757

SINGAPORE: Spot gold may end its bounce around a resistance of $1,757 per ounce, and resume its drop thereafter. The...

Published 24 Nov, 2022 11:47am

Commodities

Copper gains on China’s property support, softer dollar

Copper prices rose on Thursday as China’s supportive measures for its property sector, a weaker US dollar and the...

Published 24 Nov, 2022 11:32am

Forex

China’s yuan firms on weaker dollar, hint of RRR cut from Beijing

SHANGHAI: China’s yuan inched higher against the dollar on Thursday, helped by Federal Reserve signals that it was...

Published 24 Nov, 2022 11:29am

Stocks

China stocks fall as COVID cases hit record high; Hong Kong tracks Asia higher

SHANGHAI: China stocks fell on Thursday, as concerns over record high domestic daily COVID-19 cases overshadowed...

Published 24 Nov, 2022 11:27am

Forex

Malaysia ringgit, stocks surge on hopes of political breakthrough

Malaysia’s ringgit posted its best day in almost two weeks and equities rose 2% on Thursday amid signs of a...

Published 24 Nov, 2022 11:19am

Currency

Rupee falls marginally, settles at 223.92 against US dollar

Depreciates 0.05% in inter-bank market on Thursday

Updated 24 Nov, 2022 07:01pm

Mutual Funds

India bond yields lower as Fed minutes suggest slower rate hikes, sentiment positive

MUMBAI: India’s government bond yields were lower in early trade on Thursday as the minutes from the US Federal...

Published 24 Nov, 2022 11:15am

Commodities

Palm rises on robust exports, lower output expectations

JAKARTA: Malaysian palm oil futures climbed for a fourth straight session on Thursday on expectations of lower...

Published 24 Nov, 2022 11:12am

Commodities

NY coffee may retest resistance at $1.6865

SINGAPORE: New York March coffee may retest a resistance at $1.6865 per lb, as the current bounce looks...

Published 24 Nov, 2022 11:05am

Forex

Indian rupee inches higher on broad dollar losses, lags Asian peers

MUMBAI: The Indian rupee was trading higher against the dollar on Thursday after weak US data and Federal Reserve...

Published 24 Nov, 2022 11:01am

Musk floats ‘general amnesty’ of suspended Twitter accounts

SAN FRANCISCO: New Twitter owner Elon Musk on Wednesday polled users on whether the site should offer a general...

Published 24 Nov, 2022 10:43am

Stocks

Hong Kong shares climb as Fed hope offsets China fear

HONG KONG: Hong Kong stocks finished with another gain Thursday, tracking a rally on Wall Street as hopes for a...

Updated 24 Nov, 2022 02:00pm

Stocks

Stocks rise, dollar slips as Fed signals softer rate hike pace

HONG KONG: Asian markets rallied Thursday and the dollar weakened further after minutes from the Federal Reserve’s...

Published 24 Nov, 2022 10:31am

South Korea hikes rates again but slows pace

SEOUL: South Korea on Thursday raised its benchmark interest rate for the seventh time in a row as it struggles to...

Published 24 Nov, 2022 10:26am

Foxconn apologises after protests over pay and conditions at China iPhone factory

TAIPEI: Taiwanese tech giant Foxconn on Thursday apologised for a “technical error” in its payment systems after...

Published 24 Nov, 2022 10:16am

Japan Nov factory activity shrinks at quickest pace in 2 years

TOKYO: Japan’s manufacturing activity contracted at the fastest pace in two years in November as demand worsened due...

Published 24 Nov, 2022 10:02am

Bullion Rate

Gold advances as Fed signals slower rate hikes

Gold prices bounced above the key $1,750 an ounce level on Thursday, consolidating gains after minutes of the US...

Published 24 Nov, 2022 09:41am

Stocks

Indian shares open higher as Fed hints at slower rate hikes

BENGALURU: Indian stocks opened higher on Thursday, tracking strength in global equities, after minutes of the US...

Published 24 Nov, 2022 09:39am

Stocks

Nikkei ends at over 2-month highs on hopes Fed slowdown hopes

TOKYO: Japan’s Nikkei index closed at its highest level in more than two months on Thursday, after Wall Street rose...

Updated 24 Nov, 2022 01:43pm

Forex

Dollar slips as risk sentiment improves after Fed minutes

SINGAPORE: The US dollar was broadly weaker on Thursday as investors, encouraged the prospect of a slower pace of...

Published 24 Nov, 2022 09:30am

Forex

Australia, NZ dollars bust past resistance as NZ yields spike

SYDNEY: The Australian and New Zealand dollars were on a roll on Thursday as an uber-hawkish outlook for New Zealand...

Published 24 Nov, 2022 09:26am

Energy

Oil drops as price cap proposal eases supply concerns

LONDON: Oil prices fell on Thursday, hovering around two-month lows as the level of a proposed G7 cap on the price...

Updated 24 Nov, 2022 06:41pm

Reko Diq reference: Proposed foreign investment bill aimed at ensuring economic growth, SC told

ISLAMABAD: The additional attorney general (AAG) informed the Supreme Court that the underlining objective of the...

Published 24 Nov, 2022 04:28am

Rs965bn revenue collection target set for Dec

ISLAMABAD: The revenue collection target of the Federal Board of Revenue (FBR) for December 2022 has been fixed at...

Updated 24 Nov, 2022 09:39am

Commodities

PSMA says there’s no sugar shortage in country

LAHORE: Pakistan Sugar Mills Association (Punjab Zone) has categorically denied a news item in the media regarding...

Updated 24 Nov, 2022 09:38am

Stocks

Stock trading: SECP wing compiling risk statistics reports

ISLAMABAD: The Systemic Risk team of the Securities and Exchange Commission of Pakistan (SECP) has been engaged in...

Updated 24 Nov, 2022 09:43am

Tenure of chambers’ office-bearers: NA panel approves new amendment to TOA

ISLAMABAD: National Assembly Standing Committee on Commerce Wednesday “scrapped” amendment on the commencement of...

Updated 24 Nov, 2022 09:37am

Payments from customers: SBP plans to launch QR Code-based ‘P2M’ system by 2023

KARACHI: State Bank of Pakistan (SBP) Governor Jameel Ahmed Wednesday announced plans to launch Quick Response or QR...

Published 24 Nov, 2022 04:28am

Industry

Tea import: FPCCI calls for resolution of anomalies immediately

KARACHI: President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Irfan Iqbal Sheikh has...

Published 24 Nov, 2022 04:28am

October IT exports up 13pc to $221m YoY

KARACHI: Information Technology (IT) exports for October 2022 increased by 13 percent on year-on-year basis to $221...

Published 24 Nov, 2022 04:28am

Industry

US business team visits FPCCI offices: Scope for investment in Pakistan highlighted

LAHORE: A high-profile business delegation from the United States, led by Miles Hansen, President and CEO of World...

Published 24 Nov, 2022 04:28am

Money & Banking

Remittances to be sent through Western Union: BOJK and Sindh Bank sign agreement

MUZAFFARABAD: Kashmiri emigrants worldwide will be able to send remittances to their dear ones in Azad Kashmir with...

Published 24 Nov, 2022 04:28am

Money & Banking

Dollar down as US data released

NEW YORK: The US dollar fell across the board on Wednesday, after data showed US business activity weakened further...

Published 24 Nov, 2022 04:28am

Industry

Malaysian diplomat underlines need for reviewing FTA

KARACHI: Consul General of Malaysia Herman Hardynata Bin Ahmad has said that Malaysia and Pakistan, in addition to...

Published 24 Nov, 2022 04:28am

Industry

Businessmen greet Zubair Motiwala

KARACHI: On appointment of Muhammad Zubair Motiwala as the chief executive of TDAP by the Prime Minister, prominent...

Published 24 Nov, 2022 04:28am

Companies

Hashoo Hotels get Shaukat Khanum Corporate Excellence Award

LAHORE: This October marked the sixth consecutive year since Hashoo Hotels joined hands with Shaukat Khanum Memorial...

Published 24 Nov, 2022 04:28am

India to allow further sugar exports this season

LONDON: India is likely to allow a further 2-4 million tonnes of sugar exports in the 2022/23 season - a move which...

Published 24 Nov, 2022 04:28am

Interest Rates

'Substantial majority' of Fed officials see rate hikes slowing 'soon', minutes show

WASHINGTON: A "substantial majority" of policymakers at the Federal Reserve's meeting early this month agreed it...

Published 24 Nov, 2022 12:32am

Previous Day

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Dec 9 786 Investments Limited(786)	5.74 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Dec 9 Al-Abbas Sugar Mills Limited(AABS)	526 ▼ 0.00 (0.00%)
Agro Allianz / Dec 9 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Dec 9 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Dec 9 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Dec 9 Allied Bank Limited(ABL)	90.51 ▼ 0.00 (0.00%)
Abbott Lab. / Dec 9 Abbott Laboratories (Pakistan) Limited(ABOT)	500.43 ▼ 0.00 (0.00%)
Abson Ind. / Dec 9 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Dec 9 Alfalah Consumer Index ETF.(ACIETF)	10.99 ▼ 0.00 (0.00%)
Attock Cement / Dec 9 Attock Cement Pakistan Limited(ACPL)	105.15 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Dec 9 786 Investments Limited(786)	5.74 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Dec 9 Al-Abbas Sugar Mills Limited(AABS)	526 ▲ 0.00 (0.00%)
Agro Allianz / Dec 9 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Dec 9 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Dec 9 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Dec 9 Allied Bank Limited(ABL)	90.51 ▲ 0.00 (0.00%)
Abbott Lab. / Dec 9 Abbott Laboratories (Pakistan) Limited(ABOT)	500.43 ▲ 0.00 (0.00%)
Abson Ind. / Dec 9 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Dec 9 Alfalah Consumer Index ETF.(ACIETF)	10.99 ▲ 0.00 (0.00%)
Attock Cement / Dec 9 Attock Cement Pakistan Limited(ACPL)	105.15 ▲ 0.00 (0.00%)

Stock	Volume
K-Electric Ltd. / Dec 9 K-Electric Limited(KEL)	342,535,258 ▲ 0.00
WorldCall Telecom / Dec 9 Worldcall Telecom Limited(WTL)	98,557,282 ▲ 0.00
P.T.C.L. / Dec 9 Pakistan Telecommunication Company Ltd(PTC)	58,736,500 ▲ 0.00
Kohinoor Spining / Dec 9 Kohinoor Spinning Mills Limited(KOSM)	56,593,500 ▲ 0.00
Fauji Foods Ltd / Dec 9 Fauji Foods Limited(FFL)	47,998,197 ▲ 0.00
Cnergyico PK / Dec 9 Cnergyico PK Limited(CNERGY)	46,684,647 ▲ 0.00
B.O.Punjab / Dec 9 The Bank of Punjab(BOP)	32,876,325 ▲ 0.00
Pak Elektron / Dec 9 Pak Elektron Limited(PAEL)	29,819,540 ▲ 0.00
Hascol Petrol / Dec 9 Hascol Petroleum Limited(HASCOL)	27,935,500 ▲ 0.00
Pak Int.Bulk / Dec 9 Pakistan International Bulk Terminal(PIBTL)	25,443,500 ▲ 0.00

Markets →

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 8	284.30
USD PKR Interbank Buying / Dec 8	283.95
USD to Japanese Yen / Dec 8	144.95
USD to Swiss Franc / Dec 8	0.88
Pound Sterling to USD / Dec 8	1.25
Euro to USD / Dec 8	1.08
UK LIBOR % / Dec 8	5.48

Stock	Volume
S&P 500 / Dec 8	4604.37
India Sensex / Dec 8	69825.60
Tokyo Nikkei / Dec 8	32307.86
Nasdaq / Dec 8	14403.97
Hang Seng / Dec 8	16334.37
FTSE 100 / Dec 8	7554.47
Dow Jones / Dec 8	36247.87
Germany DAX 30 / Dec 8	16759.22
France CAC40 / Dec 8	7526.55

Item	Value
Crude Oil USD/Barrel / Dec 8	71.23
Karachi Cotton PKR/37.32 KG / Dec 8	17235
Gold 10 Grams PKR / Dec 8	187414
Gold Spot USD/Ounce / Dec 8	2004.67
Cotton US¢/pound / Dec 8	81.44

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