South Asia Russia wants Chinese business to replace Western firms, Putin tells Xi MOSCOW: Moscow is ready to help Chinese businesses replace Western firms that have left Russia over the Ukraine... Published 21 Mar, 2023 08:20pm
Energy Russia’s Novak: Moscow to maintain 500,000 bpd oil output cut to end June MOSCOW: Russian Deputy Prime Minister Alexander Novak said on Tuesday that Russia will continue a 500,000 barrels... Published 21 Mar, 2023 08:12pm
Money & Banking Fed begins crucial rate talks amid ongoing bank concerns WASHINGTON: Federal Reserve members kicked off two days of crucial interest rate talks on Tuesday, as the US central... Published 21 Mar, 2023 08:04pm
Companies US seeks to prevent China from benefiting from $52bn chips funding WASHINGTON: The US Commerce Department on Tuesday released proposed rules to prevent $52 billion in semiconductor... Published 21 Mar, 2023 07:13pm
USA Canada inflation continues to drop to 5.2% OTTAWA: Canadians paid 5.2 percent more for goods and services in February than a year earlier, led by soaring food... Published 21 Mar, 2023 06:47pm
Stocks KSE-100 closes with marginal loss amid sharp decline investor participation Political and economic uncertainty keep market participants on sidelines Published 21 Mar, 2023 06:41pm
Money & Banking US banking sector ‘stabilizing’ after recent turmoil: Yellen WASHINGTON: The US banking sector is “stabilizing” after the recent failures of Silicon Valley Bank and Signature... Published 21 Mar, 2023 05:43pm
Commodities Copper jumps on demand pick-up and softer dollar LONDON: Copper prices climbed on Tuesday on signs of firmer demand, less disquiet over the global banking sector and... Published 21 Mar, 2023 05:08pm
Stocks Indian shares rise as financials rally on easing banking crisis fears BENGALURU: Indian shares closed higher on Tuesday, as financials stocks rallied following a raft of measures to... Published 21 Mar, 2023 05:05pm
Commodities Palm unchanged after three days of losses JAKARTA: Malaysian palm oil futures were unchanged on Tuesday after rising earlier in the day on bargain buying, but... Published 21 Mar, 2023 05:03pm
Industry Auto financing dips for eighth consecutive month Factors for the decline include massive hike in car prices, soaring interest rates and plant shutdowns of various assemblers Published 21 Mar, 2023 04:03pm
Stocks Most Gulf bourses inch higher in early trade Most stock markets in the Gulf rose slightly in early trade on Tuesday, tracking global peers as fears about a... Published 21 Mar, 2023 02:46pm
Companies BYD reduces shifts at two EV assembly plants in China SHANGHAI: BYD has reduced shifts at two auto assembly plants in China, people with knowledge of the matter told... Published 21 Mar, 2023 02:40pm
Companies Mercedes-Benz: remains to be seen how national courts interpret ECJ ruling BERLIN: Carmaker Mercedes-Benz said on Tuesday that it remains to be seen how a European Court of Justice (ECJ)... Published 21 Mar, 2023 02:36pm
Forex Russian rouble strengthens amid China talks, increased supply of forex The Russian rouble strengthened on Tuesday, helped by an increased foreign currency supply as exporters prepare to... Published 21 Mar, 2023 01:59pm
Stocks London stocks rise at open as bank shares gain ahead of Fed meeting London stocks opened higher on Tuesday as lenders rose after fears of a banking crisis appeared to ease, while the... Published 21 Mar, 2023 01:57pm
Stocks Stocks rally as panic eases over banks LONDON: Stock markets jumped Tuesday, gradually recovering from last week’s plunge, as shares in banks rallied on... Updated 21 Mar, 2023 05:15pm
Business & Economy Pakistan careening towards potential default if IMF aid does not arrive: Bloomberg Bloomberg economists believe neighbouring China will help Pakistan in case IMF does not release funds Updated 21 Mar, 2023 08:01pm
MENA Emirates head says air traffic curbs hurt Indian airlines NEW DELHI: The head of Emirates said Indian airlines would lose financially as a result of traffic quotas between... Updated 21 Mar, 2023 02:42pm
Financial IMF bailout not a silver bullet for Sri Lanka, says Moody’s Analytics MUMBAI: Sri Lanka has a difficult road ahead irrespective of how much funding it receives from multilateral and... Published 21 Mar, 2023 12:43pm
Financial Cryptoverse: Bitcoin passes the bank stress test As crisis stalks the traditional world of stocks and bonds, bitcoin is suddenly looking like a safe haven. The... Published 21 Mar, 2023 12:41pm
Commodities CBOT corn biased to rise into $6.35-1/4 to $6.38-1/2 range SINGAPORE: CBOT May corn is biased to break a resistance at $6.33-1/2 and rise into a range of $6.35-1/4 to... Published 21 Mar, 2023 12:39pm
Financial SNB sold $24bn in foreign currencies during 2022 in intervention U-turn ZURICH: The Swiss National Bank sold 22.3 billion Swiss francs ($23.97 billion) worth of foreign currencies... Published 21 Mar, 2023 12:38pm
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, having completed a bounce from... Published 21 Mar, 2023 12:34pm
Stocks Hong Kong stocks end on a strong note HONG KONG: Hong Kong stocks finished with healthy gains Tuesday, clawing back some of the previous day’s rout, as... Updated 21 Mar, 2023 01:43pm
Companies Auto sector woes: Hinopak suspends assembly plant operation Cites hurdles in opening Letters of Credit for import of raw materials as reason Updated 21 Mar, 2023 03:46pm
Stocks Asia stocks bounce gingerly but bank fears lurk SINGAPORE: Asian stocks were lifted from lows on Tuesday, with the rescue of Credit Suisse stemming selling in bank... Published 21 Mar, 2023 11:41am
Forex Indian rupee may open stronger as risk sentiment improves; Fed eyed MUMBAI: The Indian rupee is expected to strengthen against the dollar on Tuesday as Asian markets attempt to shake... Published 21 Mar, 2023 11:34am
Mutual Funds Sri Lanka dollar bonds rise after IMF approves bailout MUMBAI: Sri Lanka dollar bonds soared on Tuesday, a day after the International Monetary Fund (IMF) said its... Published 21 Mar, 2023 11:32am
Commodities London copper falls as dollar recovers Copper prices fell on Tuesday in London as the dollar bounced back slightly from a five-week low hit in the previous... Published 21 Mar, 2023 11:29am
Energy Iran counts on ‘huge volumes’ of oil and gas swaps from Russia Iran counts on “huge volumes” of oil and gas swaps from Russia this year, Iranian Economy Minister Ehsan Khandouzi... Published 21 Mar, 2023 11:24am
Bullion Rate Gold inches higher as investors focus on Fed meeting Gold prices edged higher on Tuesday, with investors looking forward to the Federal Reserve policy meeting as... Published 21 Mar, 2023 11:20am
Forex Australia, NZ dollars wait in the wings for Fed as banking fears ease SYDNEY: The Australian and New Zealand dollars ran into resistance on Tuesday after scaling multiple-week highs, as... Published 21 Mar, 2023 11:18am
Mutual Funds Indian bond yields rise ahead of state debt sale, Fed decision key MUMBAI: Indian government bond yields were up on Tuesday hours ahead of an auction of bonds by states to raise the... Published 21 Mar, 2023 11:13am
Forex Rupee makes minor gain against US dollar, settles at 283.92 Currency appreciates 0.04% in inter-bank market Updated 22 Mar, 2023 10:16am
Stocks Indian shares open higher, taking short breather from banking fears BENGALURU: Indian shares opened higher on Tuesday, tracking a rebound in global equities on temporary relief from... Published 21 Mar, 2023 11:00am
Financial Switzerland’s secretive Credit Suisse rescue rocks global finance ZURICH: Days before a hastily convened press conference late on Sunday that would make the world’s front pages,... Published 21 Mar, 2023 10:48am
Financial Debt-stricken Sri Lanka to receive first tranche of IMF bailout funds in two days COLOMBO: Sri Lanka will get the first $330 million tranche of the International Monetary Fund’s bailout in the next... Updated 21 Mar, 2023 12:18pm
Commodities Palm snaps 3-day slide on overnight Chicago soyoil strength JAKARTA: Malaysian palm oil futures rose on Tuesday after three straight sessions of losses, tracking overnight... Published 21 Mar, 2023 10:31am
South Korea announces list of banned items for third-party export to North SEOUL: South Korea on Tuesday announced a “watch-list” to prevent export of items linked to North Korea’s satellite... Published 21 Mar, 2023 10:29am
Commodities Palm oil may bounce further to 3,931 ringgit SINGAPORE: Palm oil may bounce further to 3,931 ringgit per tonne, as suggested by its wave pattern and a falling... Published 21 Mar, 2023 10:26am
Energy US oil may retest resistance at $67.49 SINGAPORE: US oil may retest a resistance at $67.49 per barrel, a break above which could open the way towards... Published 21 Mar, 2023 10:25am
Energy Brent oil may bounce more to $75.89 Brent oil may bounce more to $75.89 per barrel, following its strong recovery from Monday’s low of $70.12. The... Published 21 Mar, 2023 10:23am
Commodities CBOT soybeans may retest resistance at $14.85 SINGAPORE: The CBOT soybean May contract may retest a resistance at $14.85 per bushel, a break above which could... Published 21 Mar, 2023 10:22am
Bullion Rate Spot gold to retest support at $1,971 SINGAPORE: Spot gold is expected to retest a support at $1,971 per ounce, probably to break it and fall into... Published 21 Mar, 2023 10:20am
Stocks China, HK stocks rise as easing banking contagion fears lift sentiment SHANGHAI: China stocks rose and Hong Kong shares stabilized on Tuesday as fears of global banking contagion eased... Published 21 Mar, 2023 10:18am
Stocks Australian shares jump 1% as banking crisis worries ease Australian shares jumped 1% on Tuesday tracking global equities, with miners and financials leading gains, as active... Published 21 Mar, 2023 10:15am
Forex Dollar languishes as bank crisis fears ebb on Credit Suisse rescue SINGAPORE: The dollar regained some ground on Tuesday but was pinned near a five-week low as traders tiptoed back... Published 21 Mar, 2023 10:11am
Energy Oil rises for second day as banking fears ease for now HOUSTON: Oil rose on Tuesday, extending a recovery from a 15-month low hit the previous day, as the rescue of Credit... Updated 21 Mar, 2023 08:53pm
Forex China’s yuan weakens ahead of Fed rate decision HONG KONG: The yuan weakened on Tuesday, with investors uncertain if the US Federal Reserve will raise rates this... Published 21 Mar, 2023 10:02am
Money & Banking Bank holiday KARACHI: The State Bank of Pakistan (SBP) and all banks will remain closed on 23rd March, 2023 (Thursday) being... Published 21 Mar, 2023 07:30am
Industry Steel industry: FBR asked to introduce interim tax relief measures ISLAMABAD: The steel industry has asked the Federal Board of Revenue (FBR) to urgently introduce interim tax relief... Published 21 Mar, 2023 07:29am
IIOJK gets first foreign investment from Emaar OCCUPIED SRINAGAR: Indian held Kashmir is to get its first foreign investment, with Dubai’s Emaar Group due to... Published 21 Mar, 2023 07:11am
Jul-Feb CA declines 68pc YoY KARACHI: The country’s current account deficit narrowed by 68 percent during the first eight months of this fiscal... Published 21 Mar, 2023 06:29am
Industry Tessori terms business community ‘backbone of country’ KARACHI: The loans and incentives taken by the governments from the brotherly countries seem to have never been... Updated 21 Mar, 2023 07:46am
Taxes OECD team visits FBR Headquarters ISLAMABAD: The Directorate General of International Taxes, Federal Board of Revenue, received Global Forum’s ... Published 21 Mar, 2023 06:29am
N-programme: Dar says he is being misquoted ISLAMABAD: Finance Minister Ishaq Dar’s said that his statement on the floor of the Senate on 16th March, 2023, in... Published 21 Mar, 2023 06:29am
Jul-Feb FY23: IT, ITeS export remittances up 1.7pc to $1.718bn ISLAMABAD: The IT and IT-enabled Services (ITeS) export remittances comprising computer and call centre services... Published 21 Mar, 2023 06:29am
Dollar-rupee fluctuation: Importers demand across-the-board hike in drug prices KARACHI: Pakistan is facing an extreme shortage of imported medical products such as those related to general... Published 21 Mar, 2023 06:29am
IFAC president briefed on country’s economic outlook ISLAMABAD: Asmaa Resmouki, president of the International Federation of Accountants (IFAC), called on Federal... Published 21 Mar, 2023 06:29am
Industry Exporters should tap potential to export to Lithuania: FPCCI KARACHI: Acting President of FPCCI Suleman Chawla has proposed that Pakistani exporters should tap the potential to... Published 21 Mar, 2023 06:29am
GIZ team meets SMEDA chief: Germany proposes projects for promoting textile industry LAHORE: Federal Republic of Germany on Monday proposed to start two new projects in Pakistan for promoting Textile... Published 21 Mar, 2023 06:29am
Money & Banking Dollar slides as investors digest Credit Suisse rescue WASHINGTON: The dollar slid on Monday as investors reacted nervously to UBS’ cut-price takeover of its beleaguered... Published 21 Mar, 2023 06:29am
Companies TPN honours IMC with several awards KARACHI: The Professionals Network (TPN) has honored the Indus Motor Company (IMC) with awards in multiple ... Published 21 Mar, 2023 06:29am
Business & Economy Govt did not consult ahead of announcing fuel subsidy proposal: IMF Pakistan authorities did not consult with the International Monetary Fund (IMF) staff ahead of announcing their... Updated 21 Mar, 2023 09:02am
Attachment of bank accounts of taxpayers: FBR orders sales tax/FED recovery only after approval by field committees
Attachment of bank accounts of taxpayers: FBR orders sales tax/FED recovery only after approval by field committees