News Archives for Business & Finance - 2025-04-16

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Business & Finance - 2025-04-16

Business & Finance

Ex-finance minister Miftah Ismail slams govt for ‘mini-budget’ through fuel levy hikes

Former finance minister Miftah Ismail on Wednesday sharply criticized the current coalition government for imposing...

Published 16 Apr, 2025 10:19pm

Companies

UBL profit jumps 124% YoY to Rs36.11bn in Q1 of 2025

United Bank Limited (UBL), one of Pakistan’s largest commercial banks, posted consolidated Rs36.11 billion...

Published 16 Apr, 2025 07:11pm

Companies

CCP slaps Rs25mn fine on Hyundai for ‘misleading Tucson launch offer’

The Competition Commission of Pakistan (CCP) on Wednesday said it had cracked down on Nishat Hyundai Motors,...

Published 16 Apr, 2025 06:52pm

Stocks

Stocks retreat, KSE-100 closes lower by 755 points as selling returns

After witnessing back-to-back positive sessions in the last two days, the Pakistan Stock Exchange (PSX) saw selling...

Updated 16 Apr, 2025 08:42pm

Business & Finance

Kuwait extends oil credit facility to Pakistan for two years

Kuwait has extended its oil credit facility to Pakistan for another two years. Kuwait’s Ambassador to Pakistan...

Updated 16 Apr, 2025 08:21pm

Business & Finance

Pakistan, China plan high-tech aquaculture hub in Gwadar

Pakistan and China are eyeing the establishment of a modern aquaculture industry in Gwadar, as China Overseas Ports...

Published 16 Apr, 2025 04:46pm

Markets

Pakistan may buy more cotton, soybean from US to appease Trump: report

Pakistan is likely to buy more cotton and soybean from the United States (US) in an attempt to halve its bilateral...

Updated 16 Apr, 2025 07:13pm

Companies

Google faces 5 billion pound UK lawsuit for abusing dominance in online search

LONDON: Alphabet’s Google is being sued in Britain for potential damages worth about 5 billion pounds ($6.64...

Published 16 Apr, 2025 03:16pm

South Asia

India trade deficit with China widens to record $99.2bn amid dumping concerns

NEW DELHI: India recorded a trade deficit of $99.2 billion with China in the 2024/25 fiscal year that ended in...

Published 16 Apr, 2025 03:11pm

Forex

Russian rouble up vs dollar but Goldman sees it tracking cheaper oil soon

MOSCOW: The Russian rouble strengthened against the U.S. dollar on Wednesday but analysts are warning that it will...

Published 16 Apr, 2025 03:07pm

Commodities

Gold price per tola jumps Rs8,600 to another all-time high in Pakistan

Gold prices continued their record run in both the local and international markets. In Pakistan, gold price per tola...

Updated 16 Apr, 2025 08:43pm

Forex

South African rand gains as dollar slumps on tariff uncertainty

JOHANNESBURG: South Africa’s rand gained on Wednesday as the dollar was shaken by market uncertainty around U.S....

Published 16 Apr, 2025 03:01pm

Money & Banking

BOJ to cut growth forecast as US tariffs hit, sources say

TOKYO: The Bank of Japan is set to cut its economic growth forecasts at its April 30-May 1 policy meeting as U.S....

Published 16 Apr, 2025 02:58pm

Stocks

Major Gulf markets fall on trade war concerns

Major stock markets in the Gulf fell in early trading on Wednesday amid uncertainty over shifting U.S. trade...

Published 16 Apr, 2025 02:53pm

Currency

Ugandan shilling stable as tax payments lend support

KAMPALA: The Ugandan shilling was flat on Wednesday, drawing some support from low demand as most firms used their...

Published 16 Apr, 2025 02:46pm

Asia

China says ‘not afraid to fight’ trade war with US

BEIJING: China warned Wednesday it was “not afraid” to fight a trade war with the United States and reiterated calls...

Published 16 Apr, 2025 01:33pm

Asia

Japan set to kick off tariff talks in Washington

WASHINGTON/TOKYO: Japan is set to begin face-to-face tariff negotiations with the United States on Wednesday, one of...

Published 16 Apr, 2025 01:12pm

Financial

Euro zone bonds continue to benefit from market jitters, yields fall

LONDON: Euro zone government bond yields dipped on Thursday, with German Bunds outperforming both other European...

Published 16 Apr, 2025 01:08pm

Companies

Faysal Bank sponsor Ithmaar, GFH Financial Group terminate acquisition discussions

Faysal Bank Limited’s (FBL) sponsor shareholder Ithmaar Holding and GFH Financial Group have terminated discussions...

Published 16 Apr, 2025 12:47pm

Stocks

European shares fall after Nvidia, ASML signal mounting corporate pain

European shares slipped on Wednesday after a strong start to the week, as concerns over corporate profits deepened...

Published 16 Apr, 2025 12:42pm

Commodities

Soybeans slip on tariff woes, ample South American supply

CANBERRA: Chicago soybean futures fell for a third session on Wednesday, slipping further from Monday’s seven-week...

Published 16 Apr, 2025 11:18am

Markets

Rupee posts marginal gain against US dollar

At close, local currency settles at 280.46 against greenback

Updated 16 Apr, 2025 08:24pm

Commodities

London copper declines as US-China trade tensions rise

London copper prices fell on Wednesday as trade tensions between the United States and China rose, which...

Published 16 Apr, 2025 10:44am

Stocks

Hong Kong stocks drop on trade war anxiety, China inches higher

HONG KONG: Hong Kong shares fell on Wednesday, dragged by technology stocks, after the United States restricted...

Updated 16 Apr, 2025 03:13pm

Commodities

Palm oil falls for third day on weak rival oils, strong exports limit losses

JAKARTA: Malaysian palm oil futures extended losses into a third session on Wednesday, dragged down by lacklustre...

Published 16 Apr, 2025 10:37am

Markets

‘Transaction being executed’: Sapphire Fibres advances with acquisition of 50% shares in UCH, UCH-II

Textile manufacturer Sapphire Fibres Limited (SFL) advanced on Wednesday with acquisition of 50% shares in UCH Power...

Published 16 Apr, 2025 10:28am

Companies

Nvidia faces $5.5 billion charge as US restricts chip sales to China

Nvidia on Tuesday said it would take $5.5 billion in charges after the U.S. government limited exports of its H20...

Published 16 Apr, 2025 10:15am

Forex

Australia, NZ dollars sustain gains, China data lightens trade gloom

SYDNEY: The Australian and New Zealand dollars looked to consolidate five sessions of gains on Wednesday as upbeat...

Published 16 Apr, 2025 10:13am

USA

Trump says cost of almost all products including gasoline going down

U.S. President Donald Trump said late on Tuesday that the cost of all products including gasoline and groceries have...

Published 16 Apr, 2025 10:08am

Commodities

Gold crosses $3,300 as trade tensions fuel record rally

Gold prices rose surpassed the $3,300 for the first time on Wednesday, as investors sought safe-haven assets after...

Updated 16 Apr, 2025 02:55pm

Forex

China’s yuan slips as worsening Sino-US relations outweigh upbeat Q1 data

SHANGHAI: China’s yuan slipped against the dollar on Wednesday, as worries over worsening trade relations between...

Published 16 Apr, 2025 09:59am

Commodities

Iron ore slides on heightened Sino-US trade tension, China stimulus uncertainty

BEIJING: Iron ore futures prices slid on Wednesday, as a further escalation of trade tension between China and the...

Updated 16 Apr, 2025 01:04pm

Stocks

South Korean shares slip after Nvidia curbs

KOSPI closed down 29.98 points, or 1.21%, at 2,447.43

Updated 16 Apr, 2025 12:46pm

Stocks

Shares fall in Asia as Nvidia curbs fan worries, gold hits record

SYDNEY: Shares fell in Asia on Wednesday as AI darling Nvidia took a hit from U.S. curbs on chip sales to China,...

Published 16 Apr, 2025 09:50am

Financial

India bond yields may remain lower as easing inflation to favour bulls

MUMBAI: Indian government bond yields are expected to stay benign in early deals on Wednesday as easing inflation...

Published 16 Apr, 2025 09:47am

Forex

Indian rupee remains well supported amid US tariff headlines lull

MUMBAI: The Indian rupee is expected to open mostly unchanged to marginally higher on Wednesday, amid a pause in the...

Published 16 Apr, 2025 09:45am

Stocks

Australian shares snap two-day winning streak as Rio Tinto’s outlook weighs

Australian shares ended lower on Wednesday, weighed down by losses in Rio Tinto after the mining giant’s...

Updated 16 Apr, 2025 12:39pm

Stocks

Japan’s Nikkei sags as Nvidia curbs drag down chip shares

TOKYO: Japan’s Nikkei share average fell for the first time this week on Wednesday as chip-sector shares sank after...

Updated 16 Apr, 2025 12:43pm

Stocks

Indian shares rally for third session, boosted by banks

Indian shares rose for a third straight session on Wednesday, boosted by banks and as investors shrugged off global...

Updated 16 Apr, 2025 04:01pm

Energy

Oil rises as US issues new sanctions targeting Chinese importers of Iranian oil

HOUSTON: Oil prices rose more than $1 a barrel on Wednesday after Washington issued new sanctions targeting Chinese...

Updated 16 Apr, 2025 09:27pm

Forex

Dollar sellers take a breather; sterling stands tall

SINGAPORE: The dollar clung to a small bounce on Wednesday, as investors took a breather from weeks of fairly fierce...

Published 16 Apr, 2025 09:34am

Industry

Collection of withholding tax: Footwear manufacturer fails to defy notice

LAHORE: A footwear manufacturer failed to defy a show-cause notice regarding collection of withholding tax. The...

Published 16 Apr, 2025 08:05am

Business & Finance

Rs40bn revenue loss claimed: Tea Association seeks immediate withdrawal of SRO 1735

KARACHI: The Pakistan Tea Association (PTA) has called for the immediate withdrawal of SRO 1735, claiming the...

Published 16 Apr, 2025 05:55am

Money & Banking

Asian currencies rise against soft dollar

BENGALURU: Asian emerging market equities climbed for a fourth consecutive session on Tuesday as risk sentiment...

Published 16 Apr, 2025 05:55am

Money & Banking

Dollar up after three-year low against euro

NEW YORK: The dollar stabilised on Tuesday, edging up from a three-year low against the euro as risk sentiment...

Published 16 Apr, 2025 05:55am

Money & Banking

China’s yuan steady

SHANGHAI: China’s yuan held steady against the US dollar on Tuesday even as markets grappled with the Trump...

Published 16 Apr, 2025 05:55am

Sports

HBL-PSL X: BYD becomes official mobility partner

KARACHI: BYD Pakistan has joined HBL-PSL X as the official mobility partner. The partnership was dramatically...

Published 16 Apr, 2025 05:55am

Business & Finance

Mali shuts Barrick Gold’s Bamako office over alleged non-payment of taxes

DAKAR: Malian authorities have shut the Canadian miner Barrick Gold’s office in the capital Bamako over the ...

Published 16 Apr, 2025 05:55am

Business & Finance

China orders airlines to suspend Boeing jet deliveries amid trade war

BEIJING: China has ordered its airlines not to take any further deliveries of Boeing jets in response to the US...

Published 16 Apr, 2025 05:55am

Business & Finance

Tariff tensions: World oil demand, US supply to grow more slowly: IEA

LONDON: Global oil demand will grow at its slowest rate for five years in 2025 and US production rises will also...

Published 16 Apr, 2025 05:55am

Industry

Report titled ‘LCCI’s 200 Days’ launched at consultative session

LAHORE: While taking a giant leap towards promoting participation on economic policymaking and addressing the issues...

Published 16 Apr, 2025 05:55am

Business & Finance

AMCs, PFMs: SECP replaces TER capping regime with caps on management fees wef July 1

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has replaced existing Total Expense Ratio (TER)...

Published 16 Apr, 2025 05:55am

Business & Finance

Public-sector entities: Ministry to reconstitute BoD, appoint permanent CEOs

ISLAMABAD: The Ministry of Industries and Production has decided to reconstitute Board of Directors (BoD) of various...

Published 16 Apr, 2025 05:55am

Companies

ZTBL wins award on performance in NFLP 2023-24

ISLAMABAD: Tahir Yaqoob Bhatti, President/CEO, ZTBL received the award from Jameel Ahmed, Governor State Bank of...

Published 16 Apr, 2025 05:55am

Business & Finance

Ahsan for tripling export volumes over the next decade

ISLAMABAD: Minister for Planning, Development and Special Initiatives Ahsan Iqbal said that 70 per cent of...

Published 16 Apr, 2025 05:55am

Business & Finance

Security tech champion G+D hosts reception at German consulate

KARACHI: German security technology powerhouse Giesecke+Devrient (G+D) hosted a distinguished reception at the ...

Published 16 Apr, 2025 05:55am

Energy

Chairman OGDCL discusses plans to organise PMIF26 next year

ISLAMABAD: Chairman Oil and Gas Development Company Limited (OGDCL), Zafar Masud, on Monday visited the company’s...

Published 16 Apr, 2025 05:55am

Business & Finance

Fitch’s upgrade to boost economic agenda: Aurangzeb

ISLAMABAD: Fitch Ratings’ upgrading of Pakistan’s rating from “CCC+” to “B-” is a strong expression of confidence in...

Published 16 Apr, 2025 05:55am

Business & Finance

GEM of a city – Dubai ‘contributes significantly’ to UAE’s top ranking in entrepreneurship report

The United Arab Emirates (UAE) was recently ranked number one globally for the fourth consecutive year by the Global...

Published 16 Apr, 2025 05:55am

Business & Finance

‘Despite lowest inflation, people are still deprived of significant relief’

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

Published 16 Apr, 2025 05:55am

Business & Finance

Chinese firm keen to invest in desalination plant at Port Qasim

ISLAMABAD: A Chinese construction company extending all-out cooperation to Pakistan in addressing water scarcity...

Updated 16 Apr, 2025 08:10am

Companies

Daraz announces launch of DFLP 2025

KARACHI: Daraz has announced the launch of the 2025 edition of its Daraz Future Leaders Programme (DFLP), a...

Updated 16 Apr, 2025 08:09am

Industry

Industrial areas: Mayor pledges to allocate funds

KARACHI: In a significant environmental initiative, the Korangi Association of Trade and Industry (KATI) organized a...

Updated 16 Apr, 2025 08:09am

Pakistan

Minister pledges balanced budget without imposing taxes

LAHORE: Punjab Minister for Finance Mujtaba Shuja-ur-Rehman has reiterated the government’s commitment to public...

Updated 16 Apr, 2025 08:09am

Business & Finance

Shariah compliant scheme required to obtain certificate till Sept 30

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has announced that the Shariah compliant scheme...

Updated 16 Apr, 2025 08:09am

Industry

Corporate sector: SECP to set up centralized UBO Registry

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has decided to setup a centralized Ultimate...

Published 16 Apr, 2025 05:55am

Business & Finance

Discos, KE’s tariffs: CPPA-G seeks up to Rs1.5 negative adjustment

ISLAMABAD: The Central Power Purchasing Agency –Guaranteed (CPPA-G) has sought negative adjustment of up to Rs ...

Published 16 Apr, 2025 05:55am

Industry

APTMA urges govt to re-evaluate grid levy on industrial CPPs

ISLAMABAD: All Pakistan Textile Mills Association (APTMA) has asked the government to reevaluate grid levy on...

Updated 16 Apr, 2025 07:17am

Previous Day

BR100
BR30
KSE100
KSE30
KMI30

1D 5D 3M 6M 1Y

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Jun 12	278.52
USD PKR Interbank Buying / Jun 12	278.32
USD to Japanese Yen / Jun 12	160.24
USD to Swiss Franc / Jun 12	0.80
Pound Sterling to USD / Jun 12	1.34
Euro to USD / Jun 12	1.16
SOFR % / Jun 12	3.63

Stock	Volume
S&P 500 / Jun 12	7,431.46
India Sensex / Jun 12	75,527.95
Tokyo Nikkei / Jun 12	66,020.04
Nasdaq / Jun 12	25,888.84
Hang Seng / Jun 12	24,718.10
FTSE 100 / Jun 12	10,471.72
Dow Jones / Jun 12	51,202.26
Germany DAX 30 / Jun 12	24,635.30
France CAC40 / Jun 12	8,350.87

Item	Value
Crude Oil USD/Barrel / Jun 12	84.88
Karachi Cotton PKR/37.32 KG / Jun 12	21,780
Gold 10 Grams PKR / Jun 12	375,947
Gold Spot USD/Ounce / Jun 12	4,219.33
Cotton US¢/pound / Jun 12	76.42
Petrol/Litre / Jun 14	373.78
Diesel/Litre / Jun 14	378.78

Gainers
Losers
Leaders

Stock	Price
Arctic Textile / Jun 12 Arctic Textile Mills Limited(ARCTM)	33.75 ▲ 3.07 (10.01%)
Zephyr Textile / Jun 12 Zephyr Textiles Limited(ZTL)	20.45 ▲ 1.86 (10.01%)
AN Textile Mills / Jun 12 AN Textile Mills Limited(ANTM)	37.02 ▲ 3.37 (10.01%)
Elahi Cotton / Jun 12 Elahi Cotton Mills Limited(ELCM)	285.76 ▲ 25.98 (10%)
National Silk / Jun 12 The National Silk & Rayon Mills Limited(NSRM)	161.26 ▲ 14.66 (10%)
Pak. P.V.C. / Jun 12 Pakistan PVC Limited(PPVC)	28.59 ▲ 2.6 (10%)
Int. Knit. / Jun 12 International Knitwear Limited(INKL)	92.20 ▲ 8.38 (10%)
Siddiqsons Tin / Jun 12 Siddiqsons Tin Plate Limited(STPL)	8.44 ▲ 0.73 (9.47%)
IGI Holdings / Jun 12 IGI Holdings Limited(IGIHL)	284.15 ▲ 23.93 (9.2%)
Leiner Pak Gelat / Jun 12 Leiner Pak Gelatine Limited(LPGL)	100.33 ▲ 8.38 (9.11%)

Stock	Price
Idrees Tex. / Jun 12 Idrees Textile Mills Limited(IDRT)	50.10 ▼ -5.57 (-10.01%)
Kohat Textile / Jun 12 Kohat Textile Mills Limited(KOHTM)	121.46 ▼ -13.49 (-10%)
Pak Agro Pack. (GEM) / Jun 12 Pak Agro Packaging Limited (GEM)(GEMPAPL)	9.45 ▼ -1 (-9.57%)
Pak Qatar Family / Jun 12 Pak Qatar Family Takaful Limited(PAKQATAR)	22.19 ▼ -2.28 (-9.32%)
ARM Green Industries / Jun 12 ARM Green Industries Limited(ARMG)	46.40 ▼ -4.77 (-9.32%)
Power Cem(Pref) / Jun 12 Power Cement (Pref)(POWERPS)	23.80 ▼ -2.36 (-9.02%)
East West Ins. / Jun 12 East West Insurance Company Limited(EWIC)	48.54 ▼ -4.42 (-8.35%)
Unicap Modaraba / Jun 12 Unicap Modaraba(UCAPM)	5.20 ▼ -0.45 (-7.96%)
Pak Qatar Gen.Takaful / Jun 12 Pak Qatar General Takaful Limited(PQGTL)	15.42 ▼ -1.33 (-7.94%)
Oilboy Energy / Jun 12 Oilboy Energy Limited(OBOY)	20.42 ▼ -1.72 (-7.77%)

Stock	Volume
Kohinoor Spinning / Jun 12 Kohinoor Spinning Mills Limited(KOSM)	57,747,470 ▲ 0.15
B.O.Punjab / Jun 12 The Bank of Punjab(BOP)	52,924,034 ▲ 0.93
Sitara Petroleum Service / Jun 12 Sitara Petroleum Service Limited(SPSL)	52,648,271 ▲ 0.45
WorldCall Telecom / Jun 12 Worldcall Telecom Limited(WTL)	40,511,471 ▲ 0
Maple Leaf Cement / Jun 12 Maple Leaf Cement Factory Limited(MLCF)	35,896,472 ▲ 4.01
Oilboy Energy / Jun 12 Oilboy Energy Limited(OBOY)	33,427,696 ▼ -1.72
F. Nat.Equities / Jun 12 First National Equities Limited(FNEL)	28,855,016 ▼ -0.02
TPL Corp Ltd / Jun 12 TPL Corp Limited(TPL)	25,681,007 ▼ -0.82
Pak Int.Bulk / Jun 12 Pakistan International Bulk Terminal(PIBTL)	24,755,100 ▲ 0.24
Waves Home Appliances / Jun 12 Waves Home Appliances Limited(WAVESAPP)	20,120,122 ▲ 0.31

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