News Archives for Business & Finance - 2025-05-02

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Business & Finance - 2025-05-02

Technology

New Energy Vehicles: Pakistan’s ‘largest DC fast-charging network’ to be launched

BYD Pakistan-Mega Motor Company (BYD|MMC) has partnered with HUBCO Green (Private) Limited (HGL) to launch the...

Published 02 May, 2025 10:47pm

Forex

SBP-held foreign exchange reserves increase $9mn to $10.21bn

Foreign exchange reserves held by the State Bank of Pakistan (SBP) edged higher by $9 million on a weekly basis,...

Published 02 May, 2025 08:41pm

Stocks

Wall Street climbs on tariff optimism, strong jobs data

Wall Street’s main indexes advanced on Friday, as signs of a de-escalation in the trade war with China and a strong...

Published 02 May, 2025 08:13pm

Industry

Petroleum sales jump 32% YoY in Pakistan as demand surges

Pakistan’s Oil Marketing Companies (OMCs) recorded sales of 1.46 million tons in April 2025, up by 32% against the...

Updated 02 May, 2025 11:01pm

USA

Fed gets no reason to rush on rate cuts as job market holds up

Federal Reserve policymakers on the alert for possible cracks in the labor market as businesses adjust to President...

Published 02 May, 2025 07:58pm

Stocks

UAE index gain on possible trade talks between US and China

Stock markets in the United Arab Emirates closed higher on Friday as signs of possible trade talks between the U.S....

Published 02 May, 2025 06:58pm

Companies

Exxon beats Wall Street profit estimate, boosted by Guyana and Permian production

HOUSTON: Exxon Mobil on Friday beat Wall Street’s estimate for first-quarter profit as higher oil and gas production...

Published 02 May, 2025 06:49pm

Energy

Canada’s Imperial Oil posts rise in quarterly profit on stronger refining margins

Canadian oil producer Imperial Oil posted a rise in first-quarter profit on Friday, driven primarily by stronger...

Published 02 May, 2025 06:44pm

Technology

Spotify’s US app update gets Apple approval after court ruling

Spotify said on Friday its U.S. app update has secured Apple’s approval to show pricing information and external...

Published 02 May, 2025 06:38pm

Business & Economy

Pakistan’s factory PMI dips in early sign of global tariff headwinds

KARACHI: Pakistan’s manufacturing sector growth slowed to a seven-month low in April, with the HBL Pakistan...

Updated 02 May, 2025 10:19pm

Commodities

World food prices increase in April, UN’s FAO says

LONDON: Global food commodity prices increased in April, driven by higher cereal, meat and dairy product prices that...

Published 02 May, 2025 05:25pm

Commodities

Soybeans rise for second session, US-China trade war caps gains

SINGAPORE/PARIS: Chicago soybeans gained on Friday, with bargain-buying supporting prices, but the market was on...

Published 02 May, 2025 05:17pm

Stocks

India benchmarks log longest weekly winning run in 2025 on US trade deal hopes, foreign inflows

Indian benchmarks rose on Friday to log their longest weekly winning streak of the year, led by index heavyweight...

Published 02 May, 2025 05:15pm

Stocks

Sri Lankan shares notch fourth straight weekly gain

CSE All Share index settled up 0.33% at 15851.74

Published 02 May, 2025 05:12pm

Commodities

Copper extends gains on hopes for truce in trade war

LONDON: Copper prices moved higher on Friday on signs that the U.S. and China were moving closer to a solution to...

Published 02 May, 2025 05:10pm

Commodities

Palm oil logs weekly loss on firmer ringgit, weak demand

KUALA LUMPUR: Malaysian palm oil futures reversed earlier gains on Friday, as a firmer ringgit and weak demand from...

Published 02 May, 2025 05:08pm

Forex

India’s foreign exchange reserves hit over six-month high

MUMBAI: India’s foreign exchange reserves rose for an eighth consecutive week and stood at an over six-month high of...

Published 02 May, 2025 05:00pm

Commodities

Gold price per tola falls Rs1,300 in Pakistan

Gold prices in Pakistan declined on Friday in line with their decrease in the international market. In the local...

Updated 02 May, 2025 05:17pm

Stocks

FTSE 100 rises with Shell at helm amid easing China-US tensions

Britain’s blue-chip index advanced on Friday, led by Shell, as potential easing in China-US trade tensions and...

Published 02 May, 2025 03:52pm

Forex

Sterling edges up against weaker dollar ahead of key US data

Sterling edged up against a weaker dollar on Friday, staying near a three-year high scaled earlier in the week as...

Published 02 May, 2025 03:37pm

Business & Finance

India asks IMF to review loans to Pakistan, Indian government source says

Advisor to Pakistan’s finance minister says IMF programme well on track

Updated 02 May, 2025 10:57pm

Business & Economy

Pakistan’s tax-to-GDP ratio to reach 10.6% by June, Aurangzeb tell S&P Global

Finance Minister Muhammad Aurangzeb has said that Pakistan’s tax-to-GDP ratio is expected to reach 10.6% by the end...

Published 02 May, 2025 03:19pm

Stocks

European shares rise on signs of easing Sino-US trade tensions

European shares surged on Friday as signs of a potential de-escalation of trade tensions between the U.S. and China...

Published 02 May, 2025 02:15pm

Markets

Inflation in Pakistan drops to historic low at 0.3% in April 2025

CPI inflation average during 10MFY25 stands at 4.73% as compared to 25.97% in 10MFY24

Updated 02 May, 2025 11:00pm

Companies

Thatta Cement plans 5-for-1 stock split to broaden investor base

Thatta Cement Company Limited (THCCL) has informed the exchange that its Board of Directors (BoD) has proposed the...

Published 02 May, 2025 01:36pm

Companies

Ingredion mulls stake sale in Rafhan Maize Products Limited

Ingredion Incorporated, a US-based food and beverage ingredient provider, is evaluating offers to sell its stake in...

Published 02 May, 2025 11:53am

Energy

Shell Q1 profit drops 28%, but beats expectations

LONDON: Shell on Friday reported a 28% drop in first-quarter net profit to $5.58 billion, beating analyst...

Published 02 May, 2025 11:41am

Business & Economy

Pakistan central bank likely to hold policy rate amid geopolitical tension, inflation concern: Reuters poll

KARACHI: The State Bank of Pakistan is set to hold its key interest rate at 12% on Monday, a Reuters poll showed,...

Published 02 May, 2025 11:37am

Stocks

Australia shares hit near two-month high on boost from banks

Australian shares touched a two-month high on Friday, on track for a seven-day rally, as gains in financials...

Published 02 May, 2025 11:28am

Forex

Australia, NZ dollars perk up on hopes for US-China progress

SYDNEY: The Australian and New Zealand dollars edged up on Friday as investors hoped there might be some tentative...

Published 02 May, 2025 11:23am

Business & Finance

Indonesia’s April inflation rate at 1.95%, above expectations

JAKARTA: Indonesia’s annual inflation rate was 1.95% in April, the statistics bureau said on Friday, higher than...

Published 02 May, 2025 11:16am

Energy

Pakistan now gas-surplus amid demand collapse, says Motiwala

Pakistan has transitioned from being a natural gas-deficient country to a surplus one. However, the development has...

Updated 02 May, 2025 10:58pm

Business & Finance

Trump plans to unveil federal budget proposal on Friday

WASHINGTON: US President Donald Trump plans to unveil his budget proposal for the 2026 fiscal year on Friday and...

Published 02 May, 2025 11:12am

Commodities

Soybeans rise for second session, US-China trade war caps gains

SINGAPORE: Chicago soybeans gained on Friday, with bargain-buying supporting prices, but the market was on track to...

Published 02 May, 2025 11:10am

Stocks

Japan’s Nikkei rises on trade talk optimism, set to post longest rally since 2023

TOKYO: Japan’s Nikkei share average rose on Friday on optimism around progress on tariff talks and a weaker yen,...

Published 02 May, 2025 11:08am

Mutual Funds

India bond yields move in narrow range, demand for new 10-year paper key

MUMBAI: Indian government bond yields moved with a marginal upside bias in early deals on Friday, with the major...

Published 02 May, 2025 11:02am

Stocks

EV makers lead HK stocks to nearly one-month high amid easing trade woes

HONG KONG: Hong Kong stocks climbed on Friday to nearly a one-month high as signs of easing Sino-US trade tensions...

Published 02 May, 2025 10:55am

Commodities

Copper heads for weekly gain on hopes of US-China trade talks

Copper prices rose on Friday and headed for modest weekly gains, as potential US tariff talks with top consumer...

Published 02 May, 2025 10:53am

Business & Finance

AirAsia-owner Capital A eyes Hong Kong listing

Malaysia’s Capital A, the owner of budget carrier AirAsia, said on Friday it was exploring listing on the Hong Kong...

Published 02 May, 2025 10:43am

Currency

Pakistan rupee slips lower against US dollar

Local currency settles at 281.06 against greenback

Updated 02 May, 2025 10:58pm

Commodities

Palm oil rises but firmer ringgit, weak demand caps gains

KUALA LUMPUR: Malaysian palm oil futures inched higher on Friday after three sessions of decline, buoyed by stronger...

Published 02 May, 2025 10:33am

Stocks

Pakistan stocks rebound, KSE-100 Index closes the day with 2.5% gain

Bullish momentum returned to the Pakistan Stock Exchange (PSX) amid return of optimism among investors, as the...

Updated 02 May, 2025 07:30pm

Forex

Indian rupee rally likely to extend on positive Asian cues, inflow hopes

MUMBAI: The Indian rupee’s ascent to multi-month highs may extend further on Friday, supported by a broad uptick in...

Published 02 May, 2025 08:19am

Stocks

Asian stocks rise on signs of easing Sino-US trade tensions

SINGAPORE: Asian stock markets and U.S. futures rose on Friday as signs of possible trade talks between the U.S. and...

Published 02 May, 2025 08:09am

Stocks

Indian benchmark indexes may open higher on hopes of a US trade deal

India’s equity benchmarks are set to open higher on Friday, with sentiment getting a boost after U.S. President...

Published 02 May, 2025 08:04am

Bullion Rate

Gold set for worst week in more than 2 months; US jobs data eyed

Gold prices were poised for their worst weekly performance in more than two months on Friday as receding trade...

Published 02 May, 2025 07:49am

Technology

Apple girds for more trade war pain, trims buyback

SAN FRANCISCO: Apple on Thursday trimmed its share buyback program by $10 billion, with CEO Tim Cook telling...

Published 02 May, 2025 07:36am

Technology

Spotify submits app update to Apple with external link for purchases in US

Spotify said on Thursday it has submitted an app update to Apple with an external link to buy subscriptions, after a...

Published 02 May, 2025 07:31am

Asia

China says US eager to negotiate on tariffs, Beijing’s door is ‘open’

BEIJING: The United States has approached China to seek talks over President Donald Trump’s 145% tariffs and...

Published 02 May, 2025 07:28am

Forex

Dollar poised for third weekly gain as tariff concerns ease

TOKYO: The U.S. dollar headed for a third-straight weekly gain as signs of progress in Washington’s talks with some...

Published 02 May, 2025 07:25am

Energy

Oil falls as traders weigh potential US-China trade talks

LONDON: Oil prices fell on Friday as traders squared positions ahead of an OPEC+ meeting and amid some caution about...

Updated 02 May, 2025 06:52pm

Business & Finance

Dubai: tech promises to change holiday experience at Arabian Travel Market

DUBAI: For most tourists, travelling is about creating memories and telling and retelling stories from their...

Updated 02 May, 2025 04:30pm

Business & Finance

Pakistan, Bangladesh garment manufacturers sign MoUs

LAHORE: Key milestones were achieved in strengthening trade ties between Pakistan and Bangladesh textile sectors...