Energy Oil prices rebound after hitting lowest since 2021 on banking fears NEW YORK: Oil prices bounced up on Monday in volatile trade after diving to their lowest levels in 15 months as the... Published 20 Mar, 2023 11:36pm
IMF approves Sri Lanka's $2.9bn bailout COLOMBO: Sri Lanka's president said Monday that the International Monetary Fund has approved its request for a $2.9... Published 20 Mar, 2023 10:55pm
Energy Freight rates for Russian Urals oil shipments to Asia ease for April volumes MOSCOW: Freight rates for Russian Urals oil shipments from Europe to Asia eased for April-loading cargoes making... Published 20 Mar, 2023 10:02pm
Pakistan can capitalise on youth only if talent is harnessed: IT minister Says 4,000 IT graduates are being trained by PSEB, P@sha and 21 other leading tech companies at cost of Rs590mn Published 20 Mar, 2023 09:49pm
Companies Amazon to cut 9,000 jobs in second round of layoffs Amazon.com Inc said on Monday it would cut 9,000 jobs, making it the latest Big Tech company to announce a second... Published 20 Mar, 2023 09:17pm
Money & Banking Global banking turbulence prompts Wall Street banks to trim hawkish Fed bets Goldman Sachs is expecting a pause this week from the U.S. Federal Reserve after a year-long rate increase campaign... Published 20 Mar, 2023 09:07pm
Business & Economy Statement on Senate floor regarding IMF programme being quoted out of context: Ishaq Dar Says remarks that Pakistan has sovereign right to develop its nuclear programme should not be linked with ongoing negotiations with IMF Updated 20 Mar, 2023 10:06pm
Stocks Most Gulf bourses end lower as oil prices drop; Egypt rises Most Gulf stock markets ended lower on Monday, as oil prices hit their lowest since 2021 on concerns that the... Published 20 Mar, 2023 07:41pm
Money & Banking UBS mulls sweeteners to keep Credit Suisse wealth bankers LONDON: UBS Group AG told Credit Suisse wealth bankers it’s weighing financial sweeteners for them to stay as it... Published 20 Mar, 2023 07:37pm
Stocks Selling pressure persists at KSE-100, market falls 1% Delay in resumption of IMF programme dives sell-off at equity market Published 20 Mar, 2023 07:00pm
Money & Banking Two weeks of banking turbulence PARIS: After three US regional lenders collapsed and UBS swooped to buyout troubled Credit Suisse to avoid a wider... Published 20 Mar, 2023 06:58pm
Commodities 'PM wants difference between fuel prices paid by rich and poor to be Rs100' Minister of State for Petroleum Dr Musadik Malik says owners of luxury cars will pay higher rates, while low-income groups will be given cheaper fuel Updated 20 Mar, 2023 08:38pm
Commodities Putin says Russia will provide free grain to Africa if Black Sea deal not extended MOSCOW: Russian President Vladimir Putin said on Monday that Russia would provide grain to African countries for... Published 20 Mar, 2023 05:30pm
Money & Banking Switzerland puts up 260bn francs for Credit Suisse rescue: documents ZURICH: Credit Suisse and UBS could benefit from more than 260 billion Swiss francs ($280 billion) in state and... Published 20 Mar, 2023 05:22pm
Business & Economy Pakistan’s current account deficit clocks in at meagre $0.07bn in February Cumulatively, deficit reduced to $3.9bn in Jul-Feb FY23 compared to $12.1bn in Jul-Feb FY22. Updated 20 Mar, 2023 09:28pm
Stocks Indian shares fall as banking contagion fears sour mood BENGALURU: Indian shares closed lower on Monday with investors fretting about contagion risks in the global banking... Published 20 Mar, 2023 05:11pm
Commodities Copper prices rise in volatile market LONDON: Copper prices rose in volatile trade on Monday, supported by a weaker dollar and signs of improving demand... Published 20 Mar, 2023 05:09pm
Commodities Palm drops to over six-week low on weaker rival oils JAKARTA: Malaysian palm oil futures fell for a third straight session on Monday to their lowest closing price in... Published 20 Mar, 2023 05:06pm
Stocks Sri Lankan shares end higher on financials, consumer staples boost Sri Lankan shares closed higher for a fifth straight session on Monday, helped by gains in financials and consumer... Published 20 Mar, 2023 05:04pm
Financial Sri Lanka seeks 10-year debt moratorium ahead of IMF bailout COLOMBO: Cash-strapped Sri Lanka is seeking a 10-year moratorium on its foreign debt, President Ranil... Published 20 Mar, 2023 03:43pm
Financial Bank of England receives no bids in new daily dollar repo operation LONDON: The Bank of England said it received no bids for dollar liquidity at a first daily seven-day repo operation... Published 20 Mar, 2023 03:38pm
Stocks First Republic shares fall as private placement report stirs fresh liquidity fears Shares of First Republic Bank slumped 16% on Monday, leading losses among US lenders in premarket trading, after a... Published 20 Mar, 2023 03:36pm
Stocks Bank shares slide despite Credit Suisse buyout LONDON: Global bank shares took another beating on Monday despite a UBS takeover of embattled Swiss rival Credit... Updated 20 Mar, 2023 05:30pm
Stocks Credit Suisse shares slump over 61% in premarket trading after UBS deal LONDON/ZURICH: Shares in Credit Suisse dropped 61.95% in premarket trading in Zurich on Monday after rival UBS... Published 20 Mar, 2023 01:35pm
Financial French banks stable, Credit Suisse takeover deal welcome PARIS: Bank of France head Francois Villeroy de Galhau said French banks were stable and profitable and had good... Published 20 Mar, 2023 01:32pm
Interest Rates Inflation could break further records, clock in above 34%: report JS Global says higher gas and cigarette prices are among key drivers of inflation Updated 20 Mar, 2023 03:21pm
Commodities CBOT wheat may drop into $6.80-1/2 to $6.89-1/2 range SINGAPORE: CBOT May wheat may drop into a range of $6.80-1/2 to $6.89-1/2 per bushel, due to the completion of a... Published 20 Mar, 2023 01:10pm
Commodities China Jan-Feb aluminium imports from Russia more than triple on-year BEIJING: China’s aluminium imports from Russia more than tripled in the first two months this year with a 266.2%... Published 20 Mar, 2023 01:08pm
Forex Russian rouble dips, stocks rise despite global banking jitters The Russian rouble dipped at the start of trading on Monday, while Moscow’s stock markets rose, despite fears of a... Published 20 Mar, 2023 01:01pm
Forex South African rand weakens ahead of anti-government protest JOHANNESBURG: The South African rand weakened against the dollar on Monday ahead of planned protests by the Marxist... Published 20 Mar, 2023 12:58pm
Financial Saudi National Bank strategy unaffected by hit to Credit Suisse investment DUBAI: Saudi National Bank’s growth strategy will be unaffected by the reduced valuation on its investment in Credit... Published 20 Mar, 2023 12:56pm
Companies Ghandhara Tyre suspends operations as economic turmoil takes toll Company says hindrance in securing LCs has severely disrupted supply chain Updated 20 Mar, 2023 03:17pm
Financial UBS takeover of Credit Suisse: the main points ZURICH: The takeover of Credit Suisse by UBS will create a banking giant unprecedented in the history of... Updated 20 Mar, 2023 03:27pm
Stocks Asian stocks drop despite Credit Suisse buyout, central banks’ pledge HONG KONG: Asian equities sank Monday following a sell-off in New York as investors fret over the financial sector,... Published 20 Mar, 2023 12:17pm
Financial US regulator sells failed Signature Bank assets to another lender SAN FRANCISCO: The US banking regulator has struck a deal to sell most of the assets of the failed Signature Bank to... Published 20 Mar, 2023 12:04pm
Stocks Hong Kong stocks end with big losses HONG KONG: Hong Kong stocks closed sharply lower on Monday as banks were hammered by worries over the sector, even... Updated 20 Mar, 2023 01:43pm
Financial Singapore central bank says no interruption to Credit Suisse operations Singapore’s central bank said Credit Suisse Group would continue operating in the city-state without any curbs,... Published 20 Mar, 2023 11:24am
Forex Indian rupee seen little changed tracking Asian markets; CS fallout eyed MUMBAI: The Indian rupee was expected to open little changed against the US currency on Monday, as investor... Published 20 Mar, 2023 11:19am
Real Estate China Evergrande to unveil debt restructure details on Wednesday HONG KONG: Embattled developer China Evergrande Group plans to publish an offshore debt restructuring term sheet on... Published 20 Mar, 2023 11:10am
Commodities Wheat falls 1.3%, corn down as Black Sea grain export deal extended SINGAPORE: Chicago wheat and corn futures slid on Monday, with prices under pressure after a deal to export grains... Published 20 Mar, 2023 11:07am
Financial Credit Suisse takeover, central bank action calm jittery markets Moves by authorities to avert a global banking crisis lifted market confidence on Monday as investors welcomed a... Updated 20 Mar, 2023 12:35pm
Forex Australia, NZ dollars give up rally as concerns over banking crisis linger SYDNEY: The Australian and New Zealand dollars reversed early gains on Monday, as investor optimism faded over a... Published 20 Mar, 2023 11:00am
Forex Rupee declines significantly, settles at 284.03 against US dollar Currency depreciates 0.82% in inter-bank market Updated 22 Mar, 2023 10:17am
Malaysia’s Feb exports rise 9.8% y/y, above forecast KUALA LUMPUR: Malaysia’s exports in February rose 9.8% from a year earlier, surpassing expectations, government data... Published 20 Mar, 2023 10:58am
Commodities China’s Jan-Feb coal imports from Russia rise, Australia supply resumes SINGAPORE: China’s average daily coal imports from Russia rose in the first two months of 2023 compared with... Published 20 Mar, 2023 10:56am
Bullion Rate Gold bounces to 1-year high as banking sector concerns return to fore Gold prices jumped 1% to their highest since March last year on Monday, erasing earlier losses, as worries about the... Updated 20 Mar, 2023 03:31pm
Mutual Funds Indian bond yields dip tracking US peers; Fed meet eyed MUMBAI: Indian government bond yields were marginally lower on Monday, mirroring US peers, while the rescue of a... Published 20 Mar, 2023 10:47am
Commodities China’s US soy, corn imports jump in Jan-Feb BEIJING: China’s soybean imports from the US rose 15.4% in the first two months of this year, data showed on Monday,... Published 20 Mar, 2023 10:43am
Stocks China stocks rise on Credit Suisse buyout, central bank’s monetary easing SHANGHAI: China stocks rose in early trading on Monday, as Beijing’s fresh monetary-easing measures helped offset... Published 20 Mar, 2023 10:37am
Energy US oil may retest support of $65.13 SINGAPORE: US oil may retest a support of $65.13 per barrel, a break below which may open the way towards... Published 20 Mar, 2023 10:35am
Commodities Palm oil may fall into 3,810-3,856 ringgit SINGAPORE: Palm oil may break a support of 3,892 ringgit per tonne, and fall into a range of 3,810-3,856... Published 20 Mar, 2023 10:34am
Energy Brent oil may retest support at $71.29 Brent oil may retest a support at $71.29 per barrel, a break below which could open the way toward $68.99-$70.41... Published 20 Mar, 2023 10:32am
Bullion Rate Spot gold to retest resistance at $1,992 SINGAPORE: Spot gold is expected to retest a resistance at $1,992 per ounce, a break above could lead to a gain to... Published 20 Mar, 2023 10:30am
Energy India plans to extend fuel export curbs beyond March NEW DELHI: India plans to extend restrictions on the export of diesel and gasoline after the current fiscal year... Published 20 Mar, 2023 10:21am
Stocks Indian shares open lower as banking concerns linger; Adani stocks slide BENGALURU: Indian shares opened lower on Monday as some investors worried about contagion risks in the global... Published 20 Mar, 2023 10:18am
Stocks Nikkei ends at 2-month low as Credit Suisse buyout fails to calm market jitters TOKYO: Japan’s Nikkei share average ended at a two-month low on Monday, as worries about recession and a potential... Updated 20 Mar, 2023 01:39pm
Stocks Australia shares slide as bank contagion fears persist Australian shares ended more than 1% lower on Monday dragged down by financials, as a weekend rescue deal for Credit... Updated 20 Mar, 2023 01:38pm
Forex Yen drops, dollar on defensive as central banks seek to reassure markets TOKYO: Currency markets showed some cautious optimism after global authorities moved to stem contagion from a... Published 20 Mar, 2023 10:09am
Energy Oil hits lowest since 2021 on banking fears LONDON: Oil prices fell on Monday to their lowest in 15 months on concern that risks in the global banking sector... Updated 20 Mar, 2023 05:14pm
Forex China’s yuan eases after reserve ratio cut; Fed decision in focus SHANGHAI: China’s yuan eased against the dollar on Monday, pressured by prospects of higher liquidity after the... Published 20 Mar, 2023 10:01am
Industry Enhancement in exports requires wide structural reforms, says BMP LAHORE: The Federation of Pakistan Chambers of Commerce & Industry’s Businessmen Panel stressing the need for... Published 20 Mar, 2023 06:56am
Significant boost in exports likely: UBG: PM felicitated on two-year extension in GSP Plus status KARACHI: The United Business Group (UBG) has expressed the hope that grant of two-year extension in the GSP Plus... Published 20 Mar, 2023 06:53am
Fed to balance banking woes, inflation in this rate decision WASHINGTON: US central bankers face an unenviable task when they gather in Washington this week: tackling persistent... Published 20 Mar, 2023 06:12am
World Bank’s PRR project: FBR asked to coordinate with provinces on GST- and IPF-related matters ISLAMABAD: A joint panel of Economic Affairs Division (EAD) and World Bank (WB) has directed Federal Board of ... Published 20 Mar, 2023 06:12am
Rising transportation costs fuelling inflation, says expert KARACHI: In our country, the transportation cost is rising constantly and thus is unbearable. It has almost doubled... Published 20 Mar, 2023 06:12am
Industry Wheat flour prices hit record high in Karachi KARACHI: All records of wheat flour prices in Karachi and other parts of the country have been broken as the price a... Published 20 Mar, 2023 06:12am
ICCI calls for cut in interest rate ISLAMABAD: Ahsan Zafar Bakhtawari, President Islamabad Chamber of Commerce & Industry (ICCI) saying that the 20... Published 20 Mar, 2023 06:12am
Industry HCCI chief urges Hesco to avoid load management in Ramazan HYDERABAD: President Hyderabad Chamber of Commerce and Industry (HCCI) Adeel Siddiqui has urged Hyderabad Electric... Published 20 Mar, 2023 06:12am
Country needs no IMF loan but good leadership: Mian Zahid KARACHI: Chairman of National Business Group Pakistan and President Pakistan Businessmen and Intellectuals Forum ... Published 20 Mar, 2023 06:12am
Money & Banking Dollar slips as banking turmoil snares markets NEW YORK: The dollar fell on Friday as further declines in the shares of Credit Suisse and First Republic Bank... Published 20 Mar, 2023 06:12am
Money & Banking Credit Suisse writes down $17 bln of bonds to zero, angering holders LONDON: Credit Suisse has written down its Additional Tier 1 bonds to zero as part of its takeoverby UBS, angering... Published 20 Mar, 2023 01:55am
Money & Banking Bitcoin rises 5.19% to $28,380 Bitcoin rose 5.19% to $28,380 at 20:01 GMT on Sunday, adding $1,400 to its previous close. Bitcoin, the world's... Published 20 Mar, 2023 01:31am
U.S. Treasury, Federal Reserve in touch with Swiss authorities after UBS deal to buy Credit Suisse WASHINGTON: The U.S. Federal Reserve and the Treasury Department said on Sunday they welcomed the announcements by... Published 20 Mar, 2023 12:57am
UBS agrees to buy Credit Suisse as global regulators assure markets UBS will buy rival Swiss bank Credit Suisse for 3 billion Swiss francs ($3.23 billion) and assume up to $5.4 billion... Updated 20 Mar, 2023 01:45am