News Archives for Business & Finance - 2025-04-29

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Business & Finance - 2025-04-29

Companies

US arbitrator orders Zia Chishti to pay $9.1mn to TRG International

In a big blow to former TRG Pakistan CEO, Zia Chishti, a US arbitrator has ordered him to pay $9.1 million (Rs2.5...

Published 29 Apr, 2025 11:50pm

Money & Banking

Rupee hit by geopolitical jitters, volatility jumps to two-year peak

MUMBAI: The Indian rupee swung sharply before ending lower on Tuesday as the possibility of rising tensions between...

Published 29 Apr, 2025 10:45pm

South Asia

India's growth outlook at risk from trade tensions and geopolitical risks, government says

NEW DELHI: Trade tensions and geopolitical risks pose a challenge to India's economic growth in the fiscal year that...

Published 29 Apr, 2025 10:37pm

South Asia

India's Shoppers Stop posts over 91% fall in quarterly profit on muted demand

Indian departmental store chain Shoppers Stop on Tuesday posted a more than 91% decline in fourth-quarter profit, as...

Published 29 Apr, 2025 10:29pm

Companies

India’s CEAT misses quarterly profit estimates on higher rubber prices

Indian tyre maker CEAT (CEAT.NS), opens new tab missed fourth-quarter profit estimates on Tuesday, hurt by surging...

Published 29 Apr, 2025 10:21pm

Money & Banking

IndusInd Bank CEO quits as accounting lapse triggers management shakeup

Indian private lender IndusInd Bank said on Tuesday CEO Sumant Kathpalia has resigned with immediate effect, marking...

Published 29 Apr, 2025 10:17pm

USA

Amazon denies it planned to disclose cost of US tariffs on its website

WASHINGTON: Amazon.com denied a report on Tuesday that it planned to disclose the cost that U.S. tariffs imposed by...

Published 29 Apr, 2025 08:45pm

Commodities

World Bank sees commodity prices falling to pre-COVID levels

WASHINGTON: The World Bank on Tuesday forecast that weakening global growth due in part to trade turmoil will push...

Published 29 Apr, 2025 08:42pm

Companies

BP reports 48% profit drop as strategy chief leaves

LONDON: BP on Tuesday reported a deeper-than-expected 48% drop in net profit to $1.4 billion on weaker gas trading...

Published 29 Apr, 2025 08:30pm

Stocks

S&P 500, Nasdaq inch down on Sino-US trade war developments, earnings

The S&P 500 and the Nasdaq edged lower on Tuesday as investors assessed a slew of corporate earnings and...

Published 29 Apr, 2025 08:24pm

Companies

India’s Bajaj Finance post higher quarterly profit on tax reversal, loan growth

Bajaj Finance, India’s biggest non-banking financial company (NBFC), reported a higher fourth-quarter profit on...

Published 29 Apr, 2025 06:54pm

Technology

New Tata plant starts iPhone production, Foxconn close behind as Apple looks to India

NEW DELHI: A new plant making iPhones in southern India has started production and another will begin shipments in...

Published 29 Apr, 2025 06:51pm

Companies

Mercedes signs deal with Luminar to develop latest lidar sensors

SAN FRANCISCO: Mercedes-Benz has signed a new agreement with Luminar Technologies to develop and integrate its...

Published 29 Apr, 2025 06:48pm

Companies

Emirates Airline satisfied with cash reserves, IPO depends on government, chairman says

DUBAI: Emirates Airline is very satisfied with its cash reserves, Chairman Sheikh Ahmed bin Saeed Al Maktoum said on...

Published 29 Apr, 2025 06:44pm

Companies

Maersk says it has maintained all trans-Pacific sailings despite tariff, trade uncertainty

COPENHAGEN: Maersk said on Tuesday it had maintained all its scheduled trans-Pacific sailings to date, albeit...

Published 29 Apr, 2025 06:40pm

Money & Banking

Brazil’s central bank sees sharp drop in corporate profitability due to rate shock

BRASILIA: Brazil’s central bank on Tuesday estimated a sharp decline in profitability among non-financial companies...

Published 29 Apr, 2025 06:36pm

Stocks

Most Gulf bourses gain on upbeat earnings, easing tariff concerns

Most stock markets in the Gulf ended higher on Tuesday underpinned by positive corporate earnings and amid...

Published 29 Apr, 2025 06:33pm

Commodities

Corn and soy ease on crop progress, wheat steadies after slide

PARIS/SINGAPORE: Chicago corn and soybeans eased on Tuesday, with both markets facing pressure from advancing U.S....

Published 29 Apr, 2025 05:34pm

Companies

UPS to cut 20,000 jobs on likely lower Amazon shipments, profit beats estimates

United Parcel Service’s first-quarter profit beat market estimates and the parcel delivery giant said it will cut...

Published 29 Apr, 2025 05:30pm

Companies

JetBlue withdraws annual forecast over demand uncertainty

JetBlue Airways pulled its 2025 forecast on Tuesday, as macroeconomic uncertainties stemming from U.S. President...

Published 29 Apr, 2025 05:26pm

Forex

Russian rouble strengthens versus US dollar on three-day ceasefire

MOSCOW: The Russian rouble, supported by news of a three-day ceasefire in the war in Ukraine, strengthened against...

Published 29 Apr, 2025 05:23pm

Business & Finance

S&P Global to separate its mobility division from parent to streamline business

Ratings provider S&P Global said on Tuesday it plans to separate its mobility division, which sells data to...

Published 29 Apr, 2025 05:18pm

Middle East

UAE’S ADNOC to supply US LPG to India following China-US tariffs

NEW DELHI/SINGAPORE: Abu Dhabi National Oil Company (ADNOC) will start replacing some of the liquefied petroleum gas...

Published 29 Apr, 2025 04:57pm

Commodities

Gold price per tola gains Rs2,100 in Pakistan

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

Updated 29 Apr, 2025 10:24pm

Companies

AstraZeneca says potential US tariffs manageable, faces another China fine

AstraZeneca expects only limited impact from potential U.S. tariffs on pharmaceutical imports, the drugmaker said on...

Published 29 Apr, 2025 04:52pm

Technology

Spotify profit takes hit from higher payroll taxes, shares drop

Spotify forecast second-quarter profit below market estimates on Tuesday due to employee salary-related taxes,...

Updated 29 Apr, 2025 05:38pm

Companies

Ferrari will always make crucial parts for EVs in-house, CEO says

OSLO: Ferrari Chief Executive Benedetto Vigna said on Tuesday the Italian luxury sportscar maker would always...

Published 29 Apr, 2025 04:46pm

Commodities

China demand drives up copper prices ahead of national holiday

LONDON: Copper prices rose on Tuesday as a result of high demand from top consumer China ahead of its May holiday,...

Published 29 Apr, 2025 04:36pm

Business & Finance

Bank holiday: SBP to remain closed on Thursday, May 1

The State Bank of Pakistan (SBP) will remain closed on Thursday, May 1, 2025, in observance of Labour Day. According...

Published 29 Apr, 2025 04:28pm

Companies

Pfizer beats profit estimates on cost cuts, heart drug sales

US drugmaker Pfizer reported first-quarter profit above Wall Street estimates on Tuesday, helped by cots cuts and...

Published 29 Apr, 2025 04:27pm

Companies

PayPal beats profit targets, maintains annual earnings forecast amid US trade uncertainty

PayPal on Tuesday beat Wall Street estimates for first-quarter earnings and maintained its annual profit forecast,...

Published 29 Apr, 2025 04:25pm

Companies

China’s big three airlines deepen first-quarter losses

BEIJING: First quarter losses at China’s three big state-owned airlines deepened from the same quarter last year,...

Published 29 Apr, 2025 04:22pm

Companies

GM pulls forecast due to tariffs as nervous consumers rush to buy

DETROIT: General Motors has pulled its annual forecast, reflecting the uncertain effects of U.S. President Donald...

Published 29 Apr, 2025 04:18pm

Companies

PSO profit declines 42% to Rs10.67bn in 9 months of FY25

The Pakistan State Oil (PSO) posted a profit-after-tax (PAT) of Rs10.67 billion in the first nine months of the...

Published 29 Apr, 2025 04:16pm

Companies

Merck to invest $1 billion in new Delaware plant to boost US manufacturing

US drugmaker Merck said on Tuesday it is investing $1 billion in a new Delaware plant to expand domestic production...

Published 29 Apr, 2025 04:15pm

Commodities

Palm oil closes lower on firmer ringgit, weaker rivals

KUALA LUMPUR: Malaysian palm oil futures fell for a second consecutive session on Tuesday, as a stronger ringgit and...

Published 29 Apr, 2025 04:12pm

Stocks

Indian benchmarks surrender gains as Kashmir jitters offset trade deal optimism

India’s benchmark indexes erased gains to end flat on Tuesday as nervousness over tensions with Pakistan tempered...

Published 29 Apr, 2025 04:08pm

Commodities

South Korea’s MFG buys 50,000 to 65,000 ton feed wheat

HAMBURG: South Korea’s Major Feedmill Group (MFG) purchased about 50,000 to 65,000 of animal feed wheat to be...

Published 29 Apr, 2025 04:06pm

Companies

Adcom Leo Burnett wins big at this year’s Effie Pakistan Awards

It picked up the highest number of awards- 3 Gold, 7 Silver and 2 Bronze Effies, before being crowned the Agency...

Published 29 Apr, 2025 02:47pm

Energy

CNOOC’s Q1 profit down 7.9% on weaker oil prices, but output grows

SINGAPORE: Chinese offshore oil and gas major CNOOC Ltd’s (600938.SS), opens new tab first-quarter net profit fell...

Published 29 Apr, 2025 02:47pm

Forex

South African rand slips as investors wait for another revised budget

JOHANNESBURG: The South African rand weakened slightly in early trade on Tuesday as investors waited for the finance...

Published 29 Apr, 2025 02:37pm

Technology

Porsche cuts outlook as US tariffs, China weakness hit in first quarter

FRANKFURT: Porsche’s margins plunged in the first quarter, the sportscar maker said on Tuesday, forcing it to cut...

Published 29 Apr, 2025 02:36pm

Forex

Kenyan shilling steady amid scant activity

NAIROBI: The Kenyan Shilling was steady against the dollar in early trade on Tuesday with traders noting minimal...

Published 29 Apr, 2025 02:34pm

Technology

BYD breaks ground on Cambodian car factory, Chinese embassy says

BEIJING: Chinese electric vehicle giant BYD broke ground on its Cambodia passenger vehicle factory on Monday,...

Published 29 Apr, 2025 01:08pm

Business & Finance

Adidas holds back on profit upgrade due to tariff uncertainty

German sportswear maker Adidas held back on Tuesday from raising its 2025 financial forecasts despite strong...

Published 29 Apr, 2025 01:05pm

Business & Economy

World Bank approves $108mn additional financing for KP projects

ISLAMABAD: The World Bank has approved $108 million in additional financing to the Rural Accessibility Project ($78...

Updated 29 Apr, 2025 10:25pm

Stocks

European shares edge higher as earnings roll in, tariff watch continues

European shares nudged higher on Tuesday as investors assessed a spate of corporate earnings, monitored potential...

Published 29 Apr, 2025 01:00pm

Energy

BP net profit drops 70% in first quarter to $687 million

LONDON: British oil and gas giant BP said on Tuesday net profit plunged in the first quarter due to weaker gas sales...

Published 29 Apr, 2025 12:10pm

Stocks

Pakistan stocks erase slide, KSE-100 Index closes 808 points higher

Buying returned to the Pakistan Stock Exchange (PSX) in the second half of the Tuesday’s session, as the benchmark...

Updated 29 Apr, 2025 09:45pm

Stocks

Banks, miners boost Australian shares higher; Fortescue shines

Banks pulled Australian shares higher for a fourth straight session on Tuesday, supported by miners as Fortescue...

Published 29 Apr, 2025 11:42am

Forex

Australia, NZ dollars make the most of US tariff tangle

SYDNEY: The Australian and New Zealand dollars were making another attempt at topside resistance on Tuesday as...

Published 29 Apr, 2025 11:38am

Business & Finance

Electrolux Q1 profit lags expectations as tariffs loom

STOCKHOLM: Appliances maker Electrolux reported on Tuesday a smaller first-quarter profit than expected and lowered...

Published 29 Apr, 2025 11:34am

Business & Finance

HSBC Q1 profit drops 25%; launches $3 billion buyback

HONG KONG: HSBC launched a $3 billion share buyback after reporting a 25% fall in first-quarter profit on Tuesday...

Published 29 Apr, 2025 11:30am

Forex

Asian stocks, FX climb as dollar struggles

Emerging Asian currencies rose on Tuesday, with the Malaysian ringgit and Taiwan dollar climbing to near six-month...

Published 29 Apr, 2025 11:25am

Business & Finance

Volvo Cars to cut costs by $1.9bn as earnings drop

STOCKHOLM: Sweden-based Volvo Cars launched cost cuts of 18 billion Swedish crowns ($1.87 billion) on Tuesday as its...

Published 29 Apr, 2025 11:19am

Pakistan

Pakistan’s solar revolution leaves its middle class behind

KARACHI: Amid the forty-degree heat that paralysed the coastal city of Karachi in April, Saad Saleem blasted his...

Published 29 Apr, 2025 11:19am

Companies

Novartis more upbeat on 2025 guidance after strong Q1 momentum

FRANKFURT: Novartis on Tuesday issued a more optimistic full-year earnings guidance, citing strong growth of drugs...

Published 29 Apr, 2025 11:18am

Business & Finance

Lufthansa confirms outlook, braces for possible trade fallout

BERLIN: Lufthansa on Tuesday confirmed its guidance for 2025, forecasting an operating result significantly above...

Published 29 Apr, 2025 11:17am

Mutual Funds

Philippines fully awards $533mn auction of 2030 T-bonds

Tenders total 55.22 billion pesos

Published 29 Apr, 2025 11:16am

Markets

Deutsche Bank posts 39% rise in first-quarter profit

FRANKFURT: Deutsche Bank on Tuesday posted a 39% rise in first-quarter profit after its global investment banking...

Published 29 Apr, 2025 11:14am

Stocks

South Korean shares hit one-month high as automakers climb on tariff hopes

The benchmark KOSPI was up 9.91 points, or 0.4%, at 2,558.77

Published 29 Apr, 2025 11:13am

Energy

Asia’s LNG demand stays muted in April while Europe eases: Russell

LAUNCESTON: Asia’s imports of liquefied natural gas (LNG) remained tepid in April while Europe’s started to show...

Published 29 Apr, 2025 11:09am

Commodities

Aluminium producer Norsk Hydro’s Q1 core profit lags forecast, cuts extrusions outlook

Norwegian aluminium producer Norsk Hydro reported a 76% rise in first-quarter core profit on Tuesday, boosted by...

Published 29 Apr, 2025 11:08am

Stocks

China stocks inch lower, Hong Kong gains slightly as investors assess tariff impact

HONG KONG: China stocks fell slightly in choppy trading on Tuesday, while Hong Kong shares edged up as investors...

Published 29 Apr, 2025 11:05am

Commodities

Palm opens lower on weaker rival edible oils, crude prices

KUALA LUMPUR: Malaysian palm oil futures inched lower on Tuesday for a second consecutive session, weighed down by...

Published 29 Apr, 2025 11:02am

Forex

Thai baht/US dollar stronger on Tuesday

The baht was 0.15% higher at 33.29 versus the dollar

Published 29 Apr, 2025 11:00am

Commodities

Corn, soybeans ease on US planting progress; wheat firms

SINGAPORE: Chicago corn and soybeans slid on Tuesday, with both markets facing pressure from rapidly advancing US...

Published 29 Apr, 2025 10:57am

Mutual Funds

Indian bond yields slide as RBI’s bond buy plan aids sentiment

MUMBAI: Indian government bond yields plunged in early deals on Tuesday, as market participants were taken by...

Published 29 Apr, 2025 10:40am

Currency

Pakistan rupee posts marginal gain against US dollar

Local currency settles at 281.02 against greenback

Updated 29 Apr, 2025 09:55pm

Business & Economy

IMF Executive Board to discuss Pakistan programme on May 9

Last month, IMF staff reached deal with Pakistan for new $1.3 billion arrangement and also agreed on first review of ongoing $7 billion bailout programme

Updated 29 Apr, 2025 10:24pm

Bullion Rate

Gold declines as trade war concerns ease, US data in focus

Gold fell on Tuesday as softening trade tensions between the U.S. and its trading partners dulled the metal’s...

Published 29 Apr, 2025 08:20am

Stocks

Indian rupee to weaken after Pakistan official’s comments heighten cross-border risks

MUMBAI: The Indian rupee is set to weaken on Tuesday after comments from Pakistan’s defence minister warning of an...

Published 29 Apr, 2025 08:18am

Business & Finance

European approval for China’s C919 plane needs 3-6 years, regulator says

SEOUL: Europe’s aviation regulator needs between three and six years to certify Chinese planemaker COMAC’s C919...

Published 29 Apr, 2025 07:39am

Stocks

India’s benchmark indexes to open higher on easing trade tensions, FPI inflows

India’s benchmark indexes are poised to open higher on Tuesday, supported by easing trade tensions between the U.S....

Published 29 Apr, 2025 07:35am

Business & Finance

Trump to reduce impact of auto tariffs, Commerce secretary says

WASHINGTON: President Donald Trump’s administration will move to reduce the impact of his automotive tariffs on...

Published 29 Apr, 2025 07:31am

Previous Day

BR100
BR30
KSE100
KSE30
KMI30

1D 5D 3M 6M 1Y

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Jun 9	278.57
USD PKR Interbank Buying / Jun 9	278.37
USD to Japanese Yen / Jun 10	160.36
USD to Swiss Franc / Jun 10	0.80
Pound Sterling to USD / Jun 10	1.34
Euro to USD / Jun 10	1.15
SOFR % / Jun 9	3.63

Stock	Volume
S&P 500 / Jun 9	7,386.65
Nasdaq / Jun 9	25,678.82
Dow Jones / Jun 9	50,872.11
India Sensex / Jun 10	74,322.20
Tokyo Nikkei / Jun 10	64,166.71
Hang Seng / Jun 10	24,292.95
FTSE 100 / Jun 10	10,250.38
Germany DAX 30 / Jun 10	24,501.24
France CAC40 / Jun 10	8,216.19

Item	Value
Gold 10 Grams PKR / Jun 9	389,534
Crude Oil USD/Barrel / Jun 10	88.87
Gold Spot USD/Ounce / Jun 10	4,174.27
Cotton US¢/pound / Jun 10	75.60
Petrol/Litre / Jun 11	377.78
Diesel/Litre / Jun 11	380.78

Gainers
Losers
Leaders

Stock	Price
First Fid. Leasing / Jun 10 First Fidelity Leasing Modaraba(FFLM)	10.67 ▲ 1 (10.34%)
J.A.Textile / Jun 10 J.A. Textile Mills Limited(JATM)	26.25 ▲ 2.39 (10.02%)
Burshane LPG / Jun 10 Burshane LPG (Pakistan) Limited(BPL)	62.55 ▲ 5.69 (10.01%)
Inter.Steel Ltd / Jun 10 International Steels Limited(ISL)	85.65 ▲ 7.79 (10.01%)
Redco Textile / Jun 10 Redco Textiles Limited(REDCO)	31.55 ▲ 2.87 (10.01%)
Pak. P.V.C. / Jun 10 Pakistan PVC Limited(PPVC)	23.63 ▲ 2.15 (10.01%)
Cherat Packaging / Jun 10 Cherat Packaging Limited(CPPL)	92.09 ▲ 8.37 (10%)
IBL HealthCare / Jun 10 IBL HealthCare Limited(IBLHL)	54.25 ▲ 4.93 (10%)
Kohat Textile / Jun 10 Kohat Textile Mills Limited(KOHTM)	122.68 ▲ 11.15 (10%)
Oilboy Energy / Jun 10 Oilboy Energy Limited(OBOY)	20.35 ▲ 1.85 (10%)

Stock	Price
Dadabhoy Cement / Jun 10 Dadabhoy Cement Industries Limited(DBCI)	7.35 ▼ -0.85 (-10.37%)
Idrees Tex. / Jun 10 Idrees Textile Mills Limited(IDRT)	57.68 ▼ -6.41 (-10%)
Tariq Corp.Pref. / Jun 10 Tariq Corporation Limited-Preference Shares(TCORPCPS)	10.94 ▼ -1.21 (-9.96%)
Shams Textile / Jun 10 Shams Textile Mills Limited(STML)	40.31 ▼ -3.14 (-7.23%)
Haseeb Waqas / Jun 10 Haseeb Waqas Sugar Mills Limited(HWQS)	17.85 ▼ -1.29 (-6.74%)
Sindh Abadgar / Jun 10 Sindh Abadgar's Sugar Mills Limited(SASML)	380.07 ▼ -25.94 (-6.39%)
First IBL Mod. / Jun 10 First IBL Modaraba(FIBLM)	11.50 ▼ -0.73 (-5.97%)
Quantum Data Tech. / Jun 10 Quantum Data Technologies Limited(QTECH)	32.20 ▼ -2.03 (-5.93%)
Security Investment Bank / Jun 10 Security Investment Bank Limited(SIBL)	7.20 ▼ -0.44 (-5.76%)
Grays Leasing / Jun 10 Grays Leasing Limited(GRYL)	21.70 ▼ -1.31 (-5.69%)

Stock	Volume
TPL Properties / Jun 10 TPL Properties Limited(TPLP)	63,737,085 ▲ 0.09
TPL Corp Ltd / Jun 10 TPL Corp Limited(TPL)	40,626,361 ▲ 0.32
Telecard Limited / Jun 10 Telecard Limited(TELE)	40,238,477 ▲ 0.12
Loads Limited / Jun 10 Loads Limited(LOADS)	33,866,305 ▲ 0.68
Oilboy Energy / Jun 10 Oilboy Energy Limited(OBOY)	30,153,254 ▲ 1.85
Amreli Steels / Jun 10 Amreli Steels Limited(ASTL)	27,013,807 ▲ 0.61
Agha Steel Ind. / Jun 10 Agha Steel Ind.Ltd(AGHA)	21,875,782 ▲ 0.29
WorldCall Telecom / Jun 10 Worldcall Telecom Limited(WTL)	21,604,281 ▼ -0.01
TPL REIT Fund I / Jun 10 TPL REIT Fund I(TPLRF1)	20,436,423 ▲ 0.01
Beco Steel Ltd / Jun 10 Beco Steel Limited(BECO)	18,815,133 ▼ -0.02

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