News Archives for Business & Finance - 2025-04-09

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Business & Finance - 2025-04-09

Pakistan

Pakistan turns to bitcoin miners, AI data centers to use surplus power

Country in top 10 global crypto adopters despite not being regularised, Bilal Bin Saqib says

Published 09 Apr, 2025 10:01pm

Stocks

Wall St leaps after Trump announces 90-day tariff pause

Wall Street’s main indexes jumped on Wednesday after U.S. President Donald Trump authorized a 90-day pause on...

Updated 09 Apr, 2025 11:06pm

Markets

Pakistani consortium to start production in ADNOC’s offshore Block-5 by 2027

ISLAMABAD: Pakistan’s Oil and Gas Development Company Limited expects to start production in Abu Dhabi’s Offshore...

Updated 09 Apr, 2025 11:54pm

Financial

Gold price per tola jumps Rs3,000 in Pakistan

Gold prices in Pakistan soared on Wednesday, in line with their increase in the international market. In the local...

Updated 09 Apr, 2025 06:26pm

Business & Finance

Dubai’s centi-millionaire population set to double by 2035

The findings were published in the World’s Wealthiest Cities Report 2025 by Henley & Partners

Updated 09 Apr, 2025 04:28pm

Forex

Yuan falls to 2007 lows as US tariffs on China kick in

SINGAPORE/HONG KONG: China’s yuan ended at its weakest level in more than 17 years on Wednesday after its offshore...

Published 09 Apr, 2025 03:21pm

Forex

Kenyan shilling stable versus dollar, LSEG data shows

Kenya’s shilling was broadly stable against the dollar on Wednesday, data from the London Stock Exchange Group...

Published 09 Apr, 2025 03:18pm

Middle East

Saudi Aramco, Sinopec to expand Yasref petrochemicals complex

DUBAI: Saudi Aramco has signed a deal with China’s Sinopec to expand a petrochemicals complex operated by their...

Published 09 Apr, 2025 03:16pm

Africa

Madagascar risks losing 60,000 textile jobs to U.S. tariffs, official says

ANTANANARIVO: Madagascar could lose around 60,000 textile sector jobs because of U.S. President Donald Trump’s 47%...

Published 09 Apr, 2025 03:10pm

Asia

Trump’s new tariffs take effect, with 104% on Chinese goods

WASHINGTON: US President Donald Trump’s punishing tariffs on dozens of economies came into force Wednesday,...

Published 09 Apr, 2025 02:58pm

Business & Economy

Trump tariffs: Pakistan to send high-level delegation to US

Islamabad yet to finalise policy to counter 29% US tariff

Updated 09 Apr, 2025 09:39pm

World

China seeks to ‘tariff-proof’ economy as trade war with US deepens

BEIJING: China is trying to tariff-proof its economy by boosting consumption and investing in key industries, but...

Published 09 Apr, 2025 02:29pm

Forex

India’s forex reserves rise to $676.3 billion, central bank governor says

MUMBAI: India’s foreign exchange reserves stood at $676.3 billion as of April 4, the central bank governor said on...

Published 09 Apr, 2025 02:00pm

Financial

Japan’s 30-year bond yield at 21-year high as bonds sell off

TOKYO: Japanese 30-year government bond yields surged to 21-year highs on Wednesday as investors dumped their most...

Published 09 Apr, 2025 01:54pm

Commodities

Asian buyers shun US farm goods, hit by ship crunch and trade war

SINGAPORE: Asian buyers are reducing purchases of U.S. agricultural goods as Washington’s planned fees on...

Published 09 Apr, 2025 01:51pm

Europe

UK will not change online safety law as part of US trade negotiations

LONDON: Britain will not make any changes to its Online Safety Act as part of trade negotiations with the United...

Published 09 Apr, 2025 01:47pm

Forex

South African rand nears all-time low on tariff turmoil and coalition tension

JOHANNESBURG: The South African rand neared an all-time low against the dollar in early trade on Wednesday, bruised...

Published 09 Apr, 2025 01:42pm

Business & Economy

Small emerging market dollar bonds resume selloff, Pakistan drops more than 6 cents

JOHANNESBURG/NAIROBI: International bonds issued by smaller, riskier, emerging economies suffered another sharp...

Updated 09 Apr, 2025 09:41pm

Europe

Bank of Spain to lower growth forecasts due to U.S. tariffs, ECB’s Escriva says

MADRID: The impact of U.S. tariffs on Spain will lead the Bank of Spain to revise down its 2025 growth forecasts,...

Published 09 Apr, 2025 01:27pm

Companies

Global firm Alvarez & Marsal mulls opening office in Pakistan

Alvarez & Marsal, a global professional services firm, is considering opening an office in Pakistan as part of...

Published 09 Apr, 2025 01:23pm

Stocks

European shares plunge as Trump’s reciprocal tariffs kick in

European shares fell on Wednesday as steep U.S. reciprocal tariffs kicked in, exacerbating fears over the economic...

Published 09 Apr, 2025 01:15pm

Business & Economy

‘US companies keen to tap Pakistan’s mineral sector’

American companies are interested in investing in Pakistan’s mineral sector, said Eric Meyer, Senior Bureau Official...

Updated 09 Apr, 2025 10:22pm

Business & Finance

Karachi Korangi fire: Ministry of Energy forms committee

The Ministry of Energy (Petroleum Division) has constituted a technical committee to oversee the assessment and...

Published 09 Apr, 2025 12:04pm

Commodities

Palm trades lower on rival oils, anxiety over tariff wars

JAKARTA: Malaysian palm oil futures extended losses on Wednesday, erasing last session’s gains, dragged down by...

Published 09 Apr, 2025 11:35am

Business & Economy

Mining giant Barrick Gold approves plan for copper-gold project in Pakistan: Bloomberg

Canadian mining giant Barrick Gold Corporation has provisionally approved plans to develop a vast copper-and-gold...

Updated 09 Apr, 2025 06:51pm

Commodities

Japan rubber futures log largest five-day loss since 2020 on US tariff hit

SINGAPORE: Japanese rubber futures sank on Wednesday, logging their biggest five-day losing streak since late-2020,...

Updated 09 Apr, 2025 01:34pm

Commodities

Gold gains ground as dollar wavers on tariff jitters

Gold prices rose on Wednesday as the dollar weakened and as investors braced for U.S. President Donald Trump’s...

Published 09 Apr, 2025 11:17am

Commodities

Iron ore slips to 6-1/2-month low as global trade war intensifies

BEIJING: Iron ore futures slid on Wednesday to their lowest levels in more than six months, as demand prospects were...

Updated 09 Apr, 2025 01:30pm

Forex

Australia, NZ dollars at mercy of global slowdown as RBNZ cuts rates

SYDNEY: The Australian and New Zealand dollars edged off deep lows on Wednesday as U.S. recession risks hobbled...

Published 09 Apr, 2025 11:12am

Forex

Yuan dips to new lows as US forges ahead with 104% tariffs on China

SINGAPORE/HONG KONG: China’s yuan dipped further against the U.S. dollar to a fresh 19-month low on Wednesday after...

Published 09 Apr, 2025 11:10am

Companies

Trump says he told TSMC it would pay 100% tax if it doesn’t build in US

President Donald Trump on Tuesday said he told the Taiwan Semiconductor Manufacturing Company, which has pledged to...

Published 09 Apr, 2025 11:05am

Business & Economy

ADB projects Pakistan’s GDP growth at 2.5%, inflation at 6%

Pakistan’s growth is projected to remain steady at 2.5% in fiscal year 2025 and improve to 3% in fiscal year 2026,...

Updated 09 Apr, 2025 11:54pm

Commodities

Shanghai base metals fall as US set to impose 104% tariffs on China

SHANGHAI: Base metal prices in China fell on Wednesday, with copper hitting an eight-month low, as the looming 104%...

Published 09 Apr, 2025 11:00am

Commodities

Soybeans continue recovery on weaker dollar, higher Brazil prices

CANBERRA: Chicago soybean futures edged higher on Wednesday, continuing a recovery from four-month lows hit earlier...

Published 09 Apr, 2025 10:56am

Markets

India central bank cuts rates, changes stance to ‘accommodative’ as US tariffs add to growth risks

MUMBAI: The Reserve Bank of India (RBI) cut its key repo rate on Wednesday for a second consecutive time and changed...

Published 09 Apr, 2025 10:50am

USA

Trump’s tariffs kick in, deepening trade war and market rout

BEIJING/WASHINGTON: President Donald Trump’s “reciprocal” tariffs on dozens of countries took effect on Wednesday,...

Published 09 Apr, 2025 10:43am

Money & Banking

Indonesia central bank says will act boldly to maintain rupiah stability

JAKARTA: Indonesia’s central bank will act boldly to maintain rupiah stability by intervening in the spot, domestic...

Published 09 Apr, 2025 10:35am

Currency

Rupee registers slight decline against US dollar

Currency settles at 280.78 against greenback

Updated 09 Apr, 2025 11:29pm

Financial

India bond yields seen flattish as traders eye RBI decision for cues

MUMBAI: Indian government bond yields are expected to be largely unchanged in opening deals on Wednesday ahead of...

Published 09 Apr, 2025 10:30am

Forex

Chinese yuan swings ripple across Asia, rupee traders eye RBI policy

MUMBAI: The Indian rupee is set to decline at open on Wednesday following swings in the Chinese yuan prompted by...

Published 09 Apr, 2025 10:26am

Stocks

Australia stocks slide amid global sell-off as trade war escalates

Australian shares tumbled nearly 2% on Wednesday, losing $34.5 billion in market value as a global sell-off resumed...

Updated 09 Apr, 2025 01:17pm

Stocks

Japan’s Nikkei falls nearly 4% on slowdown fears as US tariffs kick in

TOKYO: Japan’s Nikkei share average slipped on Wednesday, ending nearly 4% lower in a broad sell-off, as traders...

Updated 09 Apr, 2025 01:13pm

Stocks

Indian benchmarks trim losses after RBI cut rates

Indian benchmark indexes trimmed losses on Wednesday after the Reserve Bank of India cut interest rates as expected...

Published 09 Apr, 2025 10:16am

Stocks

China stocks firm as state support softens US tariffs hit

SHANGHAI: Chinese stocks found some footing on Wednesday as state pledges to support the local market and surging...

Published 09 Apr, 2025 10:13am

Stocks

Stocks tumble again as US hits China with 104% tariffs, Treasuries slammed

SYDNEY: Major stocks indexes sank in Asia on Wednesday after President Donald Trump’s eye-watering 104% tariffs on...

Published 09 Apr, 2025 10:10am

Stocks

Selling returns to bourse, KSE-100 settles 1,400 points down

Fears of global trade war dampen investor sentiments

Updated 09 Apr, 2025 11:26pm

Energy

Oil prices plummet on China’s retaliation against US tariffs

NEW YORK: Oil prices slipped on Wednesday, hitting fresh four-year lows before recovering some ground, after China...

Updated 09 Apr, 2025 09:54pm

Forex

Dollar slips on yen and Swissy, yuan hits record low

SYDNEY: The dollar lost ground to the safe-haven yen and Swiss franc on Wednesday as the imminent imposition by the...

Published 09 Apr, 2025 10:04am

Industry

President HCSTSI demands completion of M-6 Motorway

HYDERABAD: President Hyderabad Chamber of Small Traders & Small Industry (HCSTSI), Muhammad Saleem Memon, has...

Published 09 Apr, 2025 08:04am

Business & Finance

SBP to observe ‘financial literacy week’

KARACHI: The State Bank of Pakistan (SBP) will observe Pakistan Financial Literacy Week 2025 nationwide from April...

Published 09 Apr, 2025 08:02am

Industry

Fruit juice industry: govt mulling 5pc FED reduction

ISLAMABAD: The government is seriously considering 5 percent reduction in Federal Excise Duty (FED) on juices in...

Published 09 Apr, 2025 07:16am

Taxes

Non-payment of refund: FTO refuses to entertain taxpayer’s complaint

ISLAMABAD: Federal Tax Ombudsman (FTO) has refused to entertain a taxpayer’s complaint of non-payment of refund...

Published 09 Apr, 2025 07:12am

Industry

‘Branding, designing and high-value products should be promoted’

KARACHI: The Chairman of National Business Group Pakistan, the President of the Pakistan Businessmen and...

Published 09 Apr, 2025 07:10am

Pakistan

Rubio discusses tariffs, minerals, immigration with Dar

WASHINGTON: US Secretary of State Marco Rubio spoke to Foreign Minister Ishaq Dar on Monday about tariffs, trade...