Stocks TSX slips as commodity stocks fall, Canada Goose slumps Canada’s main stock index slipped on Thursday, as losses in commodity-linked stocks offset gains in technology,... Published 02 Feb, 2023 09:13pm
Stocks Nasdaq jumps more than 2% on Meta surge, Fed relief The Nasdaq rose more than 2% on Thursday to hit a near five-month intra-day high as Meta Platforms surged on... Published 02 Feb, 2023 09:08pm
Stocks Gulf markets mixed as Qatar falls, Dubai gains Qatar’s stock market was the worst performer among mixed Gulf bourses on Thursday amid volatile energy markets,... Published 02 Feb, 2023 08:51pm
Money & Banking Central banks should stick to ‘higher for longer’ interest rate approach: IMF Global central banks need to make clear to financial markets the probable need for interest rates to remain higher... Published 02 Feb, 2023 08:32pm
Forex Highly critical: SBP-held foreign exchange reserves plunge $592mn, now stand at mere $3.09bn Reserves fall due to external debt repayments, says central bank Updated 02 Feb, 2023 08:28pm
Companies Eli Lilly forecasts annual profit above estimates Eli Lilly and Co forecast full-year profit above Wall Street estimates on Thursday, banking on rising demand for its... Published 02 Feb, 2023 06:06pm
Stocks KSE-100 rises 0.28% in volatile session Mixture of upside and downside pressures drive uncertainty at equity market Published 02 Feb, 2023 05:54pm
Money & Banking Bank of England hikes interest rate tenth time in row LONDON: The Bank of England on Thursday hiked its interest rate for a tenth time in a row as global authorities race... Published 02 Feb, 2023 05:50pm
Commodities Copper prices rise as Fed messaging weakens the dollar LONDON: Copper prices moved higher on Thursday after the U.S. Federal Reserve cemented expectations that rapid... Published 02 Feb, 2023 05:49pm
Commodities Asia rice: India export prices stay high on strong demand, limited supply Rice export prices from India rose to their highest level since April 2021 this week, aided by firm demand and tight... Published 02 Feb, 2023 05:45pm
Forex Sterling falls to day’s low, gilt yields tumble as BoE signals rates near peak LONDON: Britain’s pound and gilt yields fell on Thursday after the Bank of England raised its main interest rate by... Published 02 Feb, 2023 05:40pm
Stocks Sri Lankan shares extend gains as financials, consumer staples boost Sri Lankan shares gain for a second straight session on Thursday, boosted by gains in financial and consumer staple... Published 02 Feb, 2023 05:33pm
German trade surplus shrinks on Ukraine, energy crisis FRANKFURT: Germany’s much-vaunted trade surplus shrank in 2022, official data showed Thursday, as soaring energy... Published 02 Feb, 2023 05:32pm
Money & Banking Santander bank posts record profit as rates rise MADRID: Spanish banking giant Banco Santander reported on Thursday record profits for 2022, becoming the latest... Published 02 Feb, 2023 05:31pm
Money & Banking Deutsche Bank posts biggest annual profit in 15 years FRANKFURT: Germany’s Deutsche Bank on Thursday said it booked its highest annual profit since 2007 last year, thanks... Published 02 Feb, 2023 05:28pm
Commodities Sales of petroleum products plummet 20% year-on-year Sales of total petroleum products clocked in at 1.44 million tons in January 2023, a massive decline of 20% on a... Published 02 Feb, 2023 05:19pm
Companies Adani’s market losses top $100bn as shelved share sale spooks investors NEW DELHI/MUMBAI: Adani Group’s market losses swelled to more than $100 billion on Thursday, sparking worries about... Published 02 Feb, 2023 05:11pm
Telecommunication Capital gain lifts Norwegian operator Telenor to record earnings Increase was partly attributed to growth in mobile phone services in Pakistan, Norway and Thailand, which more than offset declining revenues related to the operation of its copper network, rising costs and a soaring electricity bill Published 02 Feb, 2023 05:08pm
Financial Dollar bonds of India’s Adani Green Energy at record low MUMBAI: The dollar bonds issued by entities of India’s Adani Group extended losses on Thursday, with notes of Adani... Published 02 Feb, 2023 04:38pm
USA Fed’s Powell says no rate cuts this year, and markets hear it differently Federal Reserve Chair Jerome Powell had a clear message on Wednesday: as “gratifying” as it is that inflation has... Published 02 Feb, 2023 04:28pm
Business & Economy Dar gives go-ahead to Saylani, other charities to help raise $2bn from overseas Pakistanis Charity organisations have reportedly proposed help in raising funds to alleviate Pakistan's economic concerns Updated 02 Feb, 2023 05:00pm
Forex Sterling hits 4-month low versus euro ahead of expected BoE, ECB hikes LONDON: The British pound slipped on Thursday to its lowest level against the euro since September as investors... Published 02 Feb, 2023 03:23pm
Cotton & Textile Pakistan’s textile exports significantly decline in January: APTMA Pakistan’s textile sector exports witnessed a significant decline of 12.4%, clocking in at $1.36 billion in January... Updated 02 Feb, 2023 06:50pm
Stocks European stocks jump before rate decisions LONDON: European stock markets rallied Thursday before interest rate decisions from the European Central Bank and... Updated 02 Feb, 2023 04:54pm
Energy Shell makes record $40 billion annual profit LONDON: Shell delivered a record $40 billion profit in 2022, the energy giant said on Thursday, capping a tumultuous... Published 02 Feb, 2023 01:33pm
Commodities Jordan issues new tender to buy up to 120,000 tonnes wheat HAMBURG: Jordan’s state grain buyer has issued an international tender to buy up to 120,000 tonnes of milling wheat... Published 02 Feb, 2023 01:32pm
Financial Goldman Sachs raises emerging markets equities forecast Goldman Sachs on Thursday revised its forecast for emerging market equities upwards as it sees the developing world... Published 02 Feb, 2023 01:31pm
Stocks Hong Kong shares extend US rally at open HONG KONG: Hong Kong stocks rallied out of the blocks Thursday morning following a surge on Wall Street as traders... Published 02 Feb, 2023 01:01pm
Business & Economy Govt committed to eliminate Riba-based financial system, says Dar Finance Minister Mohammad Ishaq Dar on Thursday said that the government remains committed to implementing the... Published 02 Feb, 2023 12:13pm
Financial ECB hikes rates again, says to ‘stay course’ FRANKFURT: The European Central Bank raised interest rates again Thursday and signalled it would “stay the course”... Updated 02 Feb, 2023 06:44pm
South Asia Why is Gautam Adani’s Indian empire in turmoil? MUMBAI: The business empire of Gautam Adani is in mayhem, losing more than $100 billion in value and sending the... Published 02 Feb, 2023 12:08pm
Sony hikes net profit forecast as weak yen boosts gaming TOKYO: Sony upgraded its annual net profit forecast on Thursday, saying it expects strong results in its key gaming... Published 02 Feb, 2023 12:02pm
Financial Australia to remove British monarch from banknotes SYDNEY: Australia will remove the British monarch from its banknotes, replacing the late Queen Elizabeth II’s image... Published 02 Feb, 2023 12:00pm
Energy Asia’s crude oil imports hit record high, but it’s not China: Russell LAUNCESTON: Asia’s imports of crude oil reached a record high in January, but the strength wasn’t driven by China,... Published 02 Feb, 2023 11:52am
Stocks Australian shares hit over 9-month closing high on gold, tech boost Australian shares rose to a more than nine-month closing high on Thursday, helped by gains in gold and tech stocks,... Updated 02 Feb, 2023 01:28pm
Energy Brent oil may test support of $82.10 Brent oil may test a support of $82.10 per barrel, a break below which could open the way towards $80.45. The... Published 02 Feb, 2023 11:45am
Samsung’s newest Galaxy S smartphones a test of brand power in weak market SEOUL/SAN FRANCISCO: Samsung Electronics unveiled its latest premium smartphones with a focus on their powerful... Published 02 Feb, 2023 11:43am
Forex Australia dollar scales fresh 8-month high after dovish SYDNEY: The Australian dollar rallied to an eight-month high on Thursday after the Federal Reserve Chair Powell... Published 02 Feb, 2023 11:39am
Commodities Palm oil to test support at 3,796 ringgit SINGAPORE: Palm oil is expected to test a support at 3,796 ringgit per tonne, a break below which could be followed... Published 02 Feb, 2023 11:36am
Energy US oil may retest support at $76.07 SINGAPORE: US oil may retest support at $76.07 per barrel, a break below which could open the way towards... Published 02 Feb, 2023 11:30am
Stocks Asian shares jump, dollar eases after Powell comments SINGAPORE: Asian stocks jumped on Thursday while the dollar eased after Federal Reserve Chair Jerome Powell said a... Published 02 Feb, 2023 11:28am
Companies Airbus and Qatar Airways settle bitter A350 jet row PARIS: Airbus and Qatar Airways have settled a dispute over grounded A350 jets, the companies said on Wednesday,... Published 02 Feb, 2023 11:26am
Forex Indian rupee likely to open higher after Fed, local equities in focus MUMBAI: The Indian rupee is expected to open stronger on Thursday, as markets perceived the US Federal Reserve to be... Published 02 Feb, 2023 11:09am
Mutual Funds Indian bond yields seen lower tracking US peers; budget aids sentiment MUMBAI: Indian government bond yields are expected to fall on Thursday tracking a similar move in US peers, after... Published 02 Feb, 2023 11:06am
Currency New historic low: rupee settles at 271.36 against US dollar Depreciates 0.93% in inter-bank market on Thursday Updated 02 Feb, 2023 08:59pm
Companies Honda to start producing new hydrogen fuel cell system co-developed with GM TOKYO: Japan’s Honda Motor Co said it will start producing a new hydrogen fuel cell system jointly developed with... Published 02 Feb, 2023 10:42am
Stocks Nikkei ends higher on tech boost, stronger yen weighs TOKYO: Japan’s Nikkei share average ended slightly higher on Thursday, led by technology heavyweights after the... Updated 02 Feb, 2023 01:27pm
Bullion Rate Spot gold may climb into $1,969-$1,978 range SINGAPORE: Spot gold may climb into a range of $1,969-$1,978 per ounce, driven by a wave (5). The uptrend still... Published 02 Feb, 2023 10:39am
Commodities London copper rebounds as dollar plunges Copper prices in London rose on Thursday, as a weaker dollar made greenback-priced metals cheaper to holders of... Published 02 Feb, 2023 10:35am
South Asia Adani group to review capital raising after $2.5bn share sale’s withdrawal BENGALURU: India’s Adani group will review its capital raising plan once the market stabilises, chairman Gautam... Published 02 Feb, 2023 10:27am
Financial BOJ’s deputy governor warns against watering down inflation target SHIZUOKA: Bank of Japan (BOJ) Deputy Governor Masazumi Wakatabe on Thursday warned against watering down the bank’s... Published 02 Feb, 2023 10:22am
Financial Citigroup wealth unit stops margin loans against India Adani’s securities SINGAPORE: Citigroup’s wealth unit has stopped extending margin loans to its clients against securities of India’s... Published 02 Feb, 2023 10:15am
Forex China’s yuan jumps to over 2-week high on Fed’s dovish tilt SHANGHAI: China’s yuan jumped to a more than two-week high against a falling dollar on Thursday, as the Federal... Published 02 Feb, 2023 10:03am
Stocks Adani shares plunge after botched $2.5bn share sale NEW DELHI: Shares in India’s Adani group of companies plunged on Thursday after the tycoon Gautam Adani-led... Published 02 Feb, 2023 09:48am
Bullion Rate Gold hits more than 9-month high after Powell strikes dovish tone Gold prices extended gains on Thursday to touch their highest in more than nine months after the Federal Reserve... Published 02 Feb, 2023 09:46am
Stocks Indian shares struggle for direction as Adani rout deepens BENGALURU: Indian shares struggled for direction on Thursday as the week-long rout in Adani Group stocks persisted,... Updated 02 Feb, 2023 03:18pm
Financial HSBC to leave unchanged best lending rate in HONG KONG: HSBC Holdings said on Thursday it was leaving its best lending rate in Hong Kong unchanged at 5.625%,... Published 02 Feb, 2023 09:39am
Forex Dollar plunges as Fed says disinflation now in play SINGAPORE: The dollar tumbled on Thursday after the US Federal Reserve said it had turned a corner in the fight... Published 02 Feb, 2023 09:30am
Energy Oil steady as Russian oil products ban looms, dollar falls LONDON: Oil prices were steady on Thursday as looming sanctions on Russian oil products added uncertainty over... Updated 02 Feb, 2023 08:45pm
Industry Country’s current economic problems being magnified, says TDAP chief LAHORE: Chief Executive of Trade Development Authority of Pakistan (TDAP) Zubair Motiwala has said that there is no... Published 02 Feb, 2023 06:12am
Industry Islamic financial system can provide better banking, financial services: PCJCCI chief LAHORE: “Islamic financial system has potential to provide better banking and financial services than the... Published 02 Feb, 2023 06:12am
Taxes Manufacturing units in tribal areas: RTO Peshawar disallows excess quota for exempted raw materials ISLAMABAD: The Regional Tax Office (RTO) Peshawar has disallowed excess quota of exempted raw materials wrongly... Published 02 Feb, 2023 06:12am
Taxes Performance of revenue officers to be monitored: SMBR LAHORE: Newly-appointed Senior Member of Board of Revenue Punjab Nabeel Javed has said that reforms on revenue will... Published 02 Feb, 2023 06:12am
Industry DGCV revises Customs values of various unbranded dyes KARACHI: Directorate General Customs Valuation (DGCV) has revised the Customs values of various types of unbranded... Published 02 Feb, 2023 06:12am
Taxes FTO directs FBR to de-register textile factory in Karachi ISLAMABAD: Federal Tax Ombudsman (FTO) Dr Asif Mahmood Jah on Wednesday directed the Federal Board of Revenue (FBR)... Published 02 Feb, 2023 06:12am
‘Export emergency’ needed to ease ongoing crisis: minister ISLAMABAD: Federal Minister for Planning and Development Ahsan Iqbal has said the government is pursuing a... Published 02 Feb, 2023 06:12am
Energy Energy reforms critical for economy: MoS Aisha ISLAMABAD: Minister of State for Finance Dr Aisha Ghaus Pasha said that reforms in the energy sector are critical ... Published 02 Feb, 2023 06:12am
Fed delivers small rate hike, still expects ‘ongoing increases’ WASHINGTON: The Federal Reserve raised its target interest rate by a quarter of a percentage point on Wednesday, yet... Published 02 Feb, 2023 06:12am
150pc of basic salary: Federal secretariat officers’ executive allowance raised ISLAMABAD: The government has decided to give 150 percent of the 2017 basic salary as executive allowance to the... Published 02 Feb, 2023 06:12am
Taxes President confirmed 95pc orders of FTO in 2022 ISLAMABAD: President Dr Arif Alvi has confirmed 95 percent orders of the Federal Tax Ombudsman (FTO) against the... Published 02 Feb, 2023 06:12am
Staple commodities: Country can save $1.3bn annually by developing efficient storage system LAHORE: Focus on developing an efficient storage system can help Pakistan save up to $1.3 billion annually in... Published 02 Feb, 2023 06:12am
Companies RUDA signs MoU with NRTC LAHORE: For the installation of information technology and electronic technological towers in its smart city, Safe... Published 02 Feb, 2023 06:12am
Money & Banking BOP and PMIC ink accord LAHORE: The Bank of Punjab (BOP) signed an MoU with Pakistan Microfinance Investment Company (PMIC) under which BOP... Published 02 Feb, 2023 06:12am
Money & Banking ZTBL declares PLS profit rates KARACHI: Zarai Taraqiati Bank Limited (ZTBL) has declared rates of return on following, PLS & other deposits for... Published 02 Feb, 2023 06:12am
Companies Macpac Films holds seminar on safety awareness initiative KARACHI: Macpac Films Ltd, manufacturer and pioneer of flexible packaging films (BOPP - CPP), organised a seminar on... Published 02 Feb, 2023 06:12am
Companies FFC announces final results for 2022 RAWALPINDI: Fauji Fertilizer Company Limited (FFC) has announced its financial results for the year ended December... Published 02 Feb, 2023 06:12am
Prices of some branded items increased at all Utility Stores KARACHI: In order to improve demand and supply and ensure uninterrupted supply of branded items, prices of certain... Published 02 Feb, 2023 06:12am
Industry Qatar diplomat visits KATI KARACHI: The Consul General of Qatar Mishal Al Ansari says that the joint trade between Pakistan and Qatar has... Published 02 Feb, 2023 06:12am
Money & Banking Dollar dips before Fed rate decision NEW YORK: The dollar fell on Wednesday before the Federal Reserve is expected to hike interest rates by an ... Published 02 Feb, 2023 06:12am
Taxes FBR establishes IRS Common Pool Fund ISLAMABAD: In line with the Customs Common Pool Fund, the Federal Board of Revenue (FBR) has established the Inland... Published 02 Feb, 2023 06:12am
Companies Careem partners with Fly Jinnah to expand C4B portfolio KARACHI: Careem has partnered with Fly Jinnah, a new private airline, to expand its corporate portfolio called ... Published 02 Feb, 2023 06:12am
Interest Rates Possible Fed could raise rates beyond December forecast: Powell NEW YORK: Federal Reserve Chairman Jerome Powell said on Wednesday he is not fully sure where the central bank will... Published 02 Feb, 2023 04:51am