News Archives for Business & Finance - 2025-03-26

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Business & Finance - 2025-03-26

Business & Finance

Pakistan to issue first Panda Bond in China this calendar year: Finance Minister

Aurangzeb highlights agriculture, AI, and technology as key sectors with strong potential for Chinese investment, technical assistance

Updated 26 Mar, 2025 10:32pm

Markets

Beating the heat, cutting the cost: How inverter fans have taken over the market

As electricity prices remain high, middle-income group consumers in Pakistan are turning to inverter fans,...

Updated 26 Mar, 2025 07:45pm

Energy

India’s Reliance to stop buying Venezuelan oil over US tariffs: sources

NEW DELHI: India’s Reliance Industries, operator of the world’s biggest refining complex, will halt Venezuelan oil...

Published 26 Mar, 2025 05:38pm

Exchange

Rupee records marginal improvement against US dollar

Currency settles at 280.26 against greenback

Updated 26 Mar, 2025 08:17pm

Commodities

Gold price per tola remains unchanged at Rs317,800 in Pakistan

Gold prices held steady in Pakistan on Wednesday, as the yellow metal was sold at Rs317,800 per tola, unchanged from...

Updated 26 Mar, 2025 04:24pm

Markets

IMF agreement brings relief, but economic challenges persist, say experts

Analysts believe Pakistan must remain committed to IMF programme to ensure sustainable economic growth

Updated 26 Mar, 2025 07:58pm

Commodities

Japan rubber futures edge up on softer yen, off-season supply outlook

SINGAPORE: Japanese rubber futures ticked up on Wednesday, buoyed by a weakening yen and off-season supply concerns,...

Published 26 Mar, 2025 03:04pm

Bullion Rate

Gold rises as Trump’s reciprocal tariff plans fuel concerns

Gold prices edged higher on Wednesday, as market participants braced for U.S. President Donald Trump’s sweeping...

Published 26 Mar, 2025 03:00pm

Forex

Dollar steady on US tariff uncertainty, pound in focus

The dollar was little changed on Wednesday, with weak U.S. confidence data and concerns about the effect of sweeping...

Published 26 Mar, 2025 02:48pm

Companies

India’s top carmaker Maruti Suzuki to invest over $860 million to set up another plant

India’s top carmaker Maruti Suzuki will invest 74.1 billion rupees (nearly $864 million) to set up a third...

Published 26 Mar, 2025 02:46pm

Stocks

Most Gulf markets gain as investors await US tariff clarity

Most major stock markets in the Gulf rose in early trade on Wednesday in line with Asian shares as investors await...

Published 26 Mar, 2025 02:31pm

Stocks

European shares muted on caution ahead of US tariff deadline

European shares were subdued in early trading on Wednesday, as cautious investors held out from making big bets...

Published 26 Mar, 2025 02:29pm

Forex

Russian rouble up slightly vs US dollar amid uncertainty over Black Sea deal

MOSCOW: The Russian rouble rose slightly against the U.S. dollar on Wednesday after Russia said a Black Sea safe...

Published 26 Mar, 2025 02:24pm

Forex

Ugandan shilling broadly stable on commodity exports

KAMPALA: The Ugandan shilling was largely stable on Wednesday, with some hard currency inflows from commodity...

Published 26 Mar, 2025 02:17pm

Business & Economy

Aurangzeb pushes for debt relief, fair trade at Boao Forum

Finance Minister Muhammad Aurangzeb has called for reforms in international financial institutions to better address...

Updated 26 Mar, 2025 08:06pm

Business & Economy

Pakistan’s GDP grows 1.73% in Oct-Dec

Growth in agriculture, industry and services stand at 1.1%, -0.18% and 2.57% respectively.

Updated 26 Mar, 2025 11:11pm

Middle East

Tesla says it will launch in Saudi Arabia next month

RIYADH: Tesla will launch in Saudi Arabia early next month, according to a post announcing the opening on the...

Published 26 Mar, 2025 11:59am

South Asia

Sri Lanka central bank holds rate to support economic recovery

COLOMBO: Sri Lanka’s central bank kept its key policy rate unchanged for a second consecutive meeting on Wednesday...

Published 26 Mar, 2025 11:22am

Commodities

Chicago wheat futures fall on Black Sea deal, soybeans and corn also dip

BEIJING: Chicago wheat futures fell for a third straight session on Wednesday, pressured by the United States’...

Published 26 Mar, 2025 11:20am

Commodities

Iron ore rangebound as traders weigh China output cuts, seasonal steel demand

SINGAPORE: Iron ore futures prices traded within a narrow range on Wednesday, as investors weighed output cuts in...

Published 26 Mar, 2025 11:17am

Commodities

London copper dips as spectre of Trump tariffs looms

NEW DELHI: Copper prices in London fell on Wednesday as concerns over looming U.S. tariffs weighed on sentiment, but...

Published 26 Mar, 2025 11:05am

Forex

Yuan wobbles near 2-week low on tariff, growth concerns

HONG KONG: China’s yuan languished near a two-week low against the dollar on Wednesday, pressured by concerns over...

Published 26 Mar, 2025 11:02am

Forex

Bank Indonesia ready to stabilise rupiah, official says

JAKARTA: The Indonesian central bank is ready to intervene to stabilise the currency, an official said on Wednesday,...

Published 26 Mar, 2025 10:55am

Companies

Vietnam to allow SpaceX’s Starlink satellite internet service

HANOI: Vietnam’s government said on Wednesday it will allow SpaceX to launch its Starlink satellite internet service...

Published 26 Mar, 2025 10:53am

Stocks

South Korean shares hit over 1-month high on chip, battery boost

KOSPI rose 28.13 points, or 1.08%, at 2,643.94

Updated 26 Mar, 2025 11:55am

Forex

Indian rupee likely to rise on uncertain US economic outlook, inflows

MUMBAI: The Indian rupee is set to open higher on Wednesday following weak U.S. consumer confidence data that...

Published 26 Mar, 2025 10:46am

Forex

Indonesian rupiah stalks record low as fiscal worries rattle investors

SINGAPORE: Indonesia’s currency teetered near a record low against the U.S. dollar on Wednesday as worries over...

Published 26 Mar, 2025 10:43am

Financial

India bond yields a tad down with focus on government’s borrowing plan

MUMBAI: Indian government bond yields inched lower in early deals on Wednesday with the focus on the government’s...

Published 26 Mar, 2025 10:41am

Stocks

Australian shares rally as cooling inflation boosts rate cut hopes

Australian shares climbed on Wednesday as financials and miners led a broad rally after domestic February inflation...

Updated 26 Mar, 2025 11:53am

Stocks

Japan’s Nikkei rises as investors weigh possible flexibility on tariffs

TOKYO: Japan’s Nikkei share average rose on Wednesday as investors held on to hopes that U.S. President Donald Trump...

Updated 26 Mar, 2025 02:32pm

Stocks

China stocks close flat on persistent tariff worries, auto shares lift HK higher

SHANGHAI: Mainland China stocks pared gains and closed largely flat on Wednesday, weighed by persistent worries over...

Updated 26 Mar, 2025 02:27pm

Stocks

Indian shares little changed as investors eye US tariff clarity

India’s benchmark indexes were little changed on Wednesday as investors took a breather after a recent rally and...

Published 26 Mar, 2025 10:29am

Energy

Oil prices climb 1% on US crude and fuel stock draw, Venezuela supply worries

HOUSTON: Oil prices rose on Wednesday, buoyed by government data showing U.S. crude oil and fuel inventories fell...

Updated 26 Mar, 2025 11:31pm

Companies

Philip Morris Pakistan to exit PSX, announces share buyback

Philip Morris (Pakistan) Limited (PMPKL), an affiliate of Philip Morris International (PMI), has decided to purchase...

Updated 26 Mar, 2025 08:06pm

Stocks

PSX soars, KSE-100 surges over 1,100 points on IMF staff-level deal

Bullish momentum dominated the Pakistan Stock Exchange (PSX) as investors rejoiced over Pakistan’s successful...

Updated 26 Mar, 2025 08:03pm

Companies

Intel’s new CEO plots overhaul of manufacturing and AI operations

SAN FRANCISCO: Intel’s incoming CEO Lip-Bu Tan has considered significant changes to its chip manufacturing ...

Published 26 Mar, 2025 08:28am

Companies

Alphabet to buy Wiz for $32bn in its biggest deal to boost cloud security

SAN FRANCISCO: Alphabet said on Tuesday it would buy Wiz for about $32 billion in its biggest deal ever, as the...

Published 26 Mar, 2025 08:26am

Business & Finance

China promotes business potential to Apple, Pfizer and other companies

BEIJING: China sought to reassure foreign corporate chiefs of the country’s business potential when Vice Premier He...

Published 26 Mar, 2025 08:24am

Agriculture and Allied

Peru to spend $24bn on irrigation to expand farmlands

LIMA: Peruvian Agriculture Minister Angel Manero on Monday announced some $24 billion in largely public-private...

Published 26 Mar, 2025 08:22am

Companies

Amazon, Google sign pledge to support tripling of nuclear energy capacity by 2050

BENGALURU: Major companies such as Amazon and Google on Wednesday signed a pledge to support the goal of at least...

Published 26 Mar, 2025 08:19am

Companies

Car parts supplier Valeo weighs Trump tariffs

NEW YORK: Valeo CEO Christophe Perillat said on Thursday he saw a marginal impact on earnings from US tariffs on...

Published 26 Mar, 2025 08:17am

Companies

Airbus says next jet ‘evolutionary not revolutionary’

TOULOUSE (France): Airbus CEO Guillaume Faury said on Tuesday the planemaker’s next single-aisle jet would be...

Published 26 Mar, 2025 08:11am

Business & Finance

US economic activity up slightly as tariff worries rise, Fed survey

WASHINGTON: US economic activity has risen slightly but unevenly since mid-January, employment nudged higher, and...

Published 26 Mar, 2025 08:09am

Business & Finance

S&P warns Turkey’s tensions risk a setback for reforms

LONDON: Credit rating firm S&P Global warned on Monday that the troubles triggered by the arrest of President...

Published 26 Mar, 2025 08:07am

Business & Finance

EU’s slow 5G rollout weighs on mobile sector, industry

BARCELONA: The European Union’s slow adoption of 5G networks and lagging performance compared to other regions is...

Published 26 Mar, 2025 08:05am

Companies

Microchip Technology to cut 2,000 jobs as automotive demand wilts

BENGALURU: Microchip Technology said it will cut around 2,000 jobs, or about 9% of its workforce, as the chipmaker...

Published 26 Mar, 2025 08:04am

Companies

HSBC mulls outsourcing some fixed income trading: Bloomberg

LONDON: HSBC is considering outsourcing some of its fixed income trading order flow to a third-party firm, Bloomberg...

Published 26 Mar, 2025 08:03am

Companies

Siemens to cut 8pc of jobs at struggling factory automation business

ZURICH: Siemens will cut 5,600 jobs at its Digital Industries business, the engineering company said on Tuesday, in...

Published 26 Mar, 2025 08:01am

Business & Finance

Businesses sound alarm as Trump tariff chaos hits consumers

LONDON/NEW YORK/ WASHINGTON: With each day, evidence is mounting across the corporate world that the chaotic...

Published 26 Mar, 2025 07:59am

Companies

GM, Hyundai in talks to share pickups and electric vans in N America

SEOUL: Hyundai Motor and General Motors are close to finalizing a deal for Hyundai to share two electric commercial...

Published 26 Mar, 2025 07:58am

Companies

Qatar Airways wins approval for stake in Virgin Australia

SYDNEY: Canberra will let Qatar Airways buy a 25 percent stake in troubled airline Virgin Australia, a senior...

Published 26 Mar, 2025 07:56am

Industry

Market stability disrupted, cash flows affected: PAAPAM highlights ‘negative’ impact of Green Tractor Scheme

LAHORE: The Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM) has voiced serious...

Published 26 Mar, 2025 07:48am

Taxes

IR & Pak Customs: FBR establishes Strategic Tariff, Revenue Analysis Wings

ISLAMABAD: The Federal Board of Revenue (FBR) has established the Strategic Tariff and Revenue Analysis Wings for...

Published 26 Mar, 2025 07:41am

Industry

Govt benchmark helps arrest sugar price hike: PSMA Punjab

LAHORE: Pakistan Sugar Mills Association (Punjab Zone) has claimed that artificial price hike of sugar, sponsored by...

Published 26 Mar, 2025 07:40am

Companies

Cryptocurrency exchange Kraken to buy NinjaTrader for $1.5bn

BENGALURU: Kraken, one of the world’s largest cryptocurrency exchanges, said on Thursday it would buy retail...

Published 26 Mar, 2025 07:20am

Business & Finance

IMF warns Sri Lanka trade unions against strike over pay demand

COLOMBO: Sri Lanka’s fragile economic recovery could be hampered by threatened trade union strikes over reduced...

Published 26 Mar, 2025 07:14am

Business & Finance

CDA approves QR code payment system for businesses, eateries

ISLAMABAD: Capital Development Authority (CDA) on Tuesday approved the introduction of a QR code payment system for...

Published 26 Mar, 2025 07:04am

Industry

CDA directed to complete Business Facilitation Centre

ISLAMABAD: The Special Assistant to the Prime Minister (SAPM) on Industries and Production Haroon Akhtar Khan has...

Published 26 Mar, 2025 07:01am

Energy

Dar for a comprehensive strategy to boost E&P sector

ISLAMABAD: The Deputy Prime Minister, Ishaq Dar, chaired a high-level meeting Tuesday to assess critical issues...

Published 26 Mar, 2025 07:00am

Companies

TikTok to invest $8.8bn in Thailand over five years

BANGKOK: TikTok plans to invest $8.8 billion in Thailand over the next five years, focusing on digital...

Published 26 Mar, 2025 06:46am

Business & Finance

India slaps Samsung with tax demand of $601m for telecom imports

NEW DELHI: India has ordered Samsung and its executives in the country to pay $601 million in back taxes and...