Companies Microsoft unveils AI for its office suite in increased competition with Google Microsoft Corp on Thursday trumpeted its latest plans to put artificial intelligence into the hands of more users,... Published 16 Mar, 2023 09:04pm
Middle East Saudi officials downplay risks to global bank sector RIYADH: Saudi finance officials on Thursday downplayed risks to the global banking sector after days of market... Published 16 Mar, 2023 09:02pm
‘Cheapest’ label won’t help Pakistan increase exports: Finnish businessman He remains positive that Pakistan will exit current economic crisis Published 16 Mar, 2023 08:40pm
Companies UAF enrolls TMC for digital transformation with SAP S/4HANA With the adoption of SAP S/4HANA, the University of Agriculture Faisalabad (UAF) is paving the way for educational... Updated 17 Mar, 2023 04:49pm
Commodities Asia rice: Weak currency hits rates in top hubs, China buying lifts Vietnam prices Vietnam’s rice export prices extended gains this week as it shipped more of the staple grain to China, while rates... Published 16 Mar, 2023 08:00pm
Stocks Most Middle Eastern bourses slide further as bank turmoil jolts markets Most Middle Eastern stocks ended lower on Thursday with the Egyptian bourse posting its biggest weekly loss in... Published 16 Mar, 2023 07:57pm
Money & Banking Moody’s says Switzerland can manage shocks like Credit Suisse ZURICH: Moody’s is comfortable with the highest rating it holds for Swiss sovereign debt, the ratings agency said on... Published 16 Mar, 2023 07:51pm
Money & Banking US regulator eyes Friday bids for SVB, Signature Bank Regulators at the US Federal Deposit Insurance Corp (FDIC) have asked banks interested in acquiring failed lenders... Published 16 Mar, 2023 07:48pm
Stocks KSE-100 retreats 0.43% in lacklustre session Economic crisis and political turbulence play on investors’ mind Published 16 Mar, 2023 07:26pm
USA US import prices fall in February, post first annual drop since 2020 WASHINGTON: U.S. import prices fell in February as a decline in the cost of fuels offset increases in food, capital... Published 16 Mar, 2023 06:49pm
Energy Saudi January crude exports hit three-month high Saudi Arabia’s crude oil exports rose nearly 3% in January to a three-month high, data from the Joint Organisations... Published 16 Mar, 2023 06:46pm
Money & Banking S&P Global says banks’ unrealized losses manageable at this stage LONDON: Rating agency S&P Global said on Thursday that the banks around the world that it provides credit scores... Published 16 Mar, 2023 06:40pm
USA US weekly jobless claims fall more than expected WASHINGTON: The number of Americans filing new claims for unemployment benefits fell more than expected last week,... Published 16 Mar, 2023 06:15pm
Business & Economy Air carriers face ‘very challenging’ environment as $290mn stuck in Pakistan: IATA The International Air Transport Association (IATA), a trade association of global airlines, has warned that Pakistan... Published 16 Mar, 2023 06:02pm
Forex SBP-held forex reserves increase $18mn, now stand at $4.32bn This is fifth straight weekly increase Updated 16 Mar, 2023 08:29pm
Commodities Copper regains some ground after banking fears sparked sell-off LONDON: Copper prices rose on Thursday from a 10-week low the day before as central bank support for embattled bank... Published 16 Mar, 2023 05:28pm
Commodities Palm falls to one-month low on jitters over US banking crisis KUALA LUMPUR: Malaysian palm oil futures fell on Thursday to its lowest in a month, dragged by weakness in rival... Published 16 Mar, 2023 05:26pm
Stocks Sri Lankan shares end higher as financials, consumer staples rise Sri Lankan shares closed higher for a third straight session on Thursday, helped by gains in financials and consumer... Published 16 Mar, 2023 05:24pm
Stocks Indian shares muted after Credit Suisse stokes concerns on financials BENGALURU: Indian shares swung between gains and losses before edging a tad higher as Credit Suisse, one of Europe’s... Published 16 Mar, 2023 05:21pm
Money & Banking US banking system ‘remains sound’: Yellen WASHINGTON: The US banking system “remains sound” despite market anxiety over the collapse of Silicon Valley Bank... Published 16 Mar, 2023 05:07pm
Business & Economy IMF asking for materialisation of commitment from ‘friendly countries’: Ishaq Dar Finance minister says there will be 'no compromise' on Pakistan's nuclear and missile programmes Updated 16 Mar, 2023 08:36pm
Financial S&P says SVB fallout won’t lead to rating actions on APAC banks Ratings agency S&P on Thursday said the fallout from Silicon Valley Bank’s collapse may not lead to any rating... Published 16 Mar, 2023 03:06pm
Business & Economy Documentation for ICBC’s second $500mn disbursement complete: Dar Earlier this month, Pakistan’s central bank received $500 million from China’s ICBC, the first of three disbursements that were approved for rollover Updated 16 Mar, 2023 05:23pm
Commodities CBOT wheat may retest resistance at $7.03-1/4 SINGAPORE: CBOT May wheat may retest a resistance at $7.03-1/4 per bushel, a break above which could lead to gain... Published 16 Mar, 2023 02:22pm
Stocks Credit Suisse shares leap 35% as markets cheer lifeline ZURICH/LONDON: Credit Suisse shares soared by over 35% in premarket trading on Thursday, while the value of its... Published 16 Mar, 2023 02:17pm
Forex Russian rouble weakens towards near 11-month low vs dollar The Russian rouble fell towards its weakest mark against the dollar in almost 11 months on Thursday, dragged down by... Published 16 Mar, 2023 02:13pm
Stocks Major Gulf bourses tumble as Credit Suisse fears spook investors Major stock markets in the Gulf retreated in early trade on Thursday and were on course to extend their losses... Published 16 Mar, 2023 02:11pm
Commodities NY coffee may test support at $1.6990 SINGAPORE: New York May coffee may test a support at $1.6990 per lb, with a good chance of breaking below this level... Published 16 Mar, 2023 02:10pm
Financial Credit Suisse launches tender offer for euro and dollar notes LONDON: Credit Suisse launched on Thursday a cash tender offer for its euro and US dollar denominated notes,... Published 16 Mar, 2023 02:08pm
Stocks Bank stocks help FTSE 100 open higher; Rentokil gains after results London shares rose at the open on Thursday, as banking stocks rebounded after Credit Suisse said it would borrow... Published 16 Mar, 2023 02:05pm
Stocks European shares rise as investors cheer Credit Suisse securing lifeline, ECB in focus European shares rose on Thursday, as beleaguered lender Credit Suisse rallied after a lifeline from the Swiss... Published 16 Mar, 2023 02:01pm
Apple supplier Foxconn wins AirPod order, plans $200mn factory in India TAIPEI: Taiwanese contract manufacturer Foxconn has won an order to make AirPods for Apple Inc and plans to build a... Published 16 Mar, 2023 01:55pm
IT and Computers Pakistan's edtech startup Maqsad says it has raised $2.8mn in seed funding Funding takes its total capital raised to $4.9mn Published 16 Mar, 2023 01:33pm
Mutual Funds Japan’s 10-year yield tracks US yields lower on banking crisis fears TOKYO: The yield on Japan’s 10-year government bond fell on Thursday, tracking US Treasury yields, which fell on... Published 16 Mar, 2023 01:04pm
Mutual Funds Indian bond yields dip as US peers resume fall, rate pause bets rise MUMBAI: Indian government bond yields traded lower in early session on Thursday as US yields resumed their downward... Published 16 Mar, 2023 12:56pm
Forex Asian currencies mixed as Credit Suisse sparks global bank fears The Indonesian rupiah was among the top losers in mixed Asian currency markets on Thursday as turbulence at Credit... Published 16 Mar, 2023 12:54pm
Forex Indian rupee follows Asian peers lower on more risk aversion MUMBAI: The Indian rupee declined against the US dollar on Thursday, tracking other major Asian currencies, amid... Published 16 Mar, 2023 12:47pm
Commodities CBOT corn still targets $6.33-1/2 to $6.38-1/2 range SINGAPORE: CBOT May corn still targets a range of $6.33-1/2 to $6.38-1/2 per bushel, as suggested by its wave... Published 16 Mar, 2023 12:33pm
Forex South African rand pauses after sharp fall JOHANNESBURG: The South African rand was steady in early trade on Thursday, after plummeting a day earlier when a US... Published 16 Mar, 2023 12:31pm
Financial UK debt agency treads careful path to sell near-record volume of bonds LONDON: Britain is trying to limit the burden on bond dealers as it prepares to sell the highest volume of... Published 16 Mar, 2023 12:30pm
Companies Tree Plantation Drive: Nestlé to plant 100,000 trees across country Nestlé Pakistan announced planting 100,000 trees this year around the areas it operates to support its endeavours to... Published 16 Mar, 2023 12:29pm
Financial JPMorgan: Credit Suisse takeover, especially by UBS is ‘most likely scenario’ LONDON: Wall Street bank JPMorgan said on Thursday that Credit Suisse being taking over by another lender, most... Published 16 Mar, 2023 12:25pm
Stocks Indian shares open lower after Credit Suisse spooks Asian peers BENGALURU: Indian shares were off to a muted start on Thursday, on fragile investor sentiment globally after Credit... Published 16 Mar, 2023 12:22pm
Xiaomi’s slow shift in India to premium smartphones helps Samsung steal its crown NEW DELHI/LUCKNOW: Xiaomi Corp is overhauling its India strategy after misjudging consumer tastes in mobile phones,... Published 16 Mar, 2023 11:15am
Stocks China, Hong Kong stocks fall as growing banks turmoil unnerves investors HONG KONG: China and Hong Kong stocks fell on Thursday, weighed by new energy and oil stocks, as Swiss regulators’... Published 16 Mar, 2023 11:00am
Commodities Corn firms on strong Chinese demand, US banking crisis weighs SINGAPORE: Chicago corn rose for a third consecutive session on Thursday, supported by strong Chinese demand and... Published 16 Mar, 2023 10:58am
Forex Rupee regains its footing, settles at 282.42 against US dollar Currency appreciates 0.15% in inter-bank market Updated 16 Mar, 2023 07:28pm
Energy US oil may retest support of $65.97 SINGAPORE: US oil may retest a support of $65.97 per barrel, a break below may open the way towards $62.77-$64.23... Published 16 Mar, 2023 10:56am
Commodities Palm oil may fall into 3,810-3,856 ringgit after bounce SINGAPORE: Palm oil may break a support of 3,892 ringgit per tonne, and fall into a range of 3,810-3,856 ringgit,... Published 16 Mar, 2023 10:54am
Energy Brent oil may revisit Wednesday low of $71.67 Brent oil may revisit its Wednesday low of $71.67, driven by a powerful wave c. This wave has briefly extended below... Published 16 Mar, 2023 10:52am
CBOT soybeans may bounce into $14.99-3/4 to $15.02 range before falling SINGAPORE: The CBOT soybean May contract may bounce into a range of $14.99-3/4 to $15.02 per bushel, to complete a... Published 16 Mar, 2023 10:50am
Bullion Rate Spot gold may drop into $1,884-$1,897 range SINGAPORE: Spot gold may drop into a range of $1,884 to $1,897 per ounce, as a wave c from $1,809.27 may have... Published 16 Mar, 2023 10:48am
Forex China’s yuan firms on signs of property sector stabilising SHANGHAI: China’s yuan strengthened on Thursday, as signs the country’s property market is stabilising raised... Published 16 Mar, 2023 10:46am
Stocks Australian shares skid as commodity stocks tank on banking turmoil Australian shares closed lower on Thursday, led by energy and mining stocks on tumbling commodity prices, as... Updated 16 Mar, 2023 12:23pm
Financial Market turmoil tests ECB rate hike appetite FRANKFURT: European Central Bank governors will meet Thursday, with fears over a widening banking crisis testing... Published 16 Mar, 2023 10:33am
Forex Fear over bank turmoil sparks flight to safe haven currencies SINGAPORE: Safe haven currencies like the US dollar and the yen were in bid on Thursday on renewed fears of a global... Published 16 Mar, 2023 10:31am
Energy Oil regains some ground after Credit Suisse lifeline LONDON: Oil prices clawed back some ground on Thursday, recovering from the previous session’s 15-month lows, as... Updated 16 Mar, 2023 05:31pm
Commodities Palm oil pares gains on jitters over US banking crisis KUALA LUMPUR: Malaysian palm oil futures eased on Thursday, paring gains from the previous session, dragged by... Published 16 Mar, 2023 10:26am
Stocks Tokyo stocks end lower TOKYO: Tokyo stocks ended lower Thursday, with investors in the grip of contagion fears on concerns about European... Updated 16 Mar, 2023 12:19pm
Stocks Hong Kong stocks end with more losses HONG KONG: Hong Kong stocks tumbled Thursday on fresh fears over the banking sector following the collapse of two US... Updated 16 Mar, 2023 01:41pm
Financial Credit Suisse says it will borrow up to $53.7bn from central bank ZURICH: Credit Suisse announced Thursday that it would borrow almost $54 billion from the Swiss central bank to... Published 16 Mar, 2023 10:09am
Stocks Banks feel impact as Asian markets are hit by contagion fears HONG KONG: Asian markets slid Thursday, led again by banks, with contagion talk sweeping across trading floors owing... Published 16 Mar, 2023 10:03am
US Soy celebrates over 25 years of partnership with Pakistan KARACHI: The US Soy is celebrating over 25 years of partnership with the Pakistani agriculture and poultry ... Published 16 Mar, 2023 06:01am
Cellular mobile operators: Internal competition termed hurdle to revenue growth ISLAMABAD: Internal competition among cellular mobile operators (CMOs) is restricting them from increasing Average... Published 16 Mar, 2023 06:01am
Visit to KCCI offices: Economic cooperation with Pakistan to develop rapidly: Russian CG KARACHI: Consul General of the Russian Federation Andrey V Fedorov has said that despite sanctions on Russia by the... Published 16 Mar, 2023 06:01am
Tariff of Iranian electricity yet to be disclosed ISLAMABAD: Minister for Power Khurram Dastgir Khan has not disclosed the rate of 100-MW electricity to be purchased... Updated 16 Mar, 2023 04:56pm
PM sets up panel for action plan: DISCOs to be handed over to provinces ISLAMABAD: Prime Minister Shehbaz Sharif has formed a committee regarding handing over electricity distribution... Published 16 Mar, 2023 06:01am
Saudi could invest in Iran ‘very quickly’: finance minister RIYADH: Saudi Arabia could start making investments in Iran “very quickly” after they agreed to restore... Published 16 Mar, 2023 06:01am
Two oil exploring firms asked to clear royalty dues ISLAMABAD: The Auditor General of Pakistan (AGP) has asked two oil and gas exploration companies to clear their... Published 16 Mar, 2023 06:01am
Taxes Import of goods from Uzbekistan: FBR allows concessionary/reduced rates of duty ISLAMABAD: The Federal Board of Revenue (FBR) has allowed concessionary/ reduced rates of customs duty, additional... Published 16 Mar, 2023 06:01am
Taxes Sugar sector: FBR chief asks senior LTO Lahore team to maximise revenue ISLAMABAD: Federal Board of Revenue Chairman Asim Ahmad, Wednesday, directed the senior management of the Large... Published 16 Mar, 2023 06:01am
Taxes ‘Weights and measures’ fee: Punjab govt collects record tax revenue LAHORE: The Punjab government has collected record tax revenue of Rs27 million in lieu of ‘weights and measures’... Published 16 Mar, 2023 06:01am
Money & Banking JS Bank celebrates women leaders KARACHI: JS Bank, one of Pakistan’s fastest growing banks, celebrated women leaders at an event held in Karachi.... Published 16 Mar, 2023 06:01am
Companies SPL announces 2022 financial results KARACHI: The Board of Directors of Shell Pakistan Limited (SPL) has announced the company’s financial results for... Published 16 Mar, 2023 06:01am
Money & Banking Islamic finance advisory to ME, Europe: Meezan Bank, Fieldfisher Capital ink MoU KARACHI: The Meezan Bank recently signed a memorandum of understanding (MoU) with Fieldfisher Capital LLP (FFC) to... Published 16 Mar, 2023 06:01am
Industry IT roadmap developer explains how LSM sector can boost exports LAHORE: Large-Scale Manufacturing (LSM) sector in Pakistan has potential to significantly increase exports by using... Published 16 Mar, 2023 06:01am
Industry Project aimed at promoting profitable agriculture in Punjab launched LAHORE: Under the “Punjab Resilient and Inclusive Agriculture Transformation (PRIAT)” project, the agriculture... Published 16 Mar, 2023 06:01am
Money & Banking Dollar gains in safe-haven buying NEW YORK: The dollar rose on Wednesday on safe-haven buying after Credit Suisse’s stock tumbled following the... Published 16 Mar, 2023 06:01am
Money & Banking Credit Suisse slump leads Europe bank rout as SVB fallout grows PARIS: Credit Suisse shares hit a record low on Wednesday in a rout of European bank stocks, as investor concerns... Published 16 Mar, 2023 06:01am
Money & Banking Withdrawn bonds of Rs40,000-7500: Prize Bonds holders given another chance KARACHI: The Federal Government has given another opportunity to the public to get the withdrawn prize bonds of... Published 16 Mar, 2023 06:01am
Companies ‘Gold Sponsor’ Alibaba concludes its participation in Textile Asia fair KARACHI: Alibaba, an ecommerce giant, has concluded its participation as Gold Sponsor in the 24th edition of South... Published 16 Mar, 2023 06:01am
Business & Economy Pakistan's ex finance chief Miftah warns against any kind of debt restructuring Difficult task to get China and the West to sit on one table for such an endeavour, he says Updated 16 Mar, 2023 09:46am
