News Archives for Business & Finance - 2025-05-06

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Business & Finance - 2025-05-06

Money & Banking

Indian rupee’s rally to stall by end of July, weaker times ahead

BENGALURU: The Indian rupee will give up nearly all of its year-to-date gains against the dollar by the end of July...

Published 06 May, 2025 11:01pm

Markets

India’s Godrej Consumer misses profit estimates due to higher costs

India’s Godrej Consumer Product (GOCP.NS), opens new tab reported a fourth-quarter profit that missed analysts’...

Published 06 May, 2025 10:54pm

World

No signs of US recession, Treasury Secretary says

WASHINGTON: “I believe in data, and there is nothing in the data that shows that we are in a recession,” Scott...

Published 06 May, 2025 10:45pm

Stocks

Indian e-scooter maker Ather Energy falls in market debut

Ather Energy’s shares fell 3.3% in their market debut on Tuesday, reversing slight gains from the open, on worries...

Published 06 May, 2025 10:26pm

Stocks

Wall Street declines after Trump’s latest tariff threats

Wall Street’s main indexes fell on Tuesday after U.S. President Donald Trump’s latest plans for pharma tariffs...

Published 06 May, 2025 07:44pm

USA

Canada’s trade deficit narrows more than expected in March

OTTAWA: Canada’s trade deficit narrowed to C$506 million ($366.34 million) in March, beating expectations as imports...

Published 06 May, 2025 07:05pm

Business & Finance

Pakistan launches strategic investment drive in UK to attract global capital

In a renewed push to attract foreign direct investment and strengthen Pakistan’s global economic standing, Finance...

Published 06 May, 2025 07:01pm

Technology

Microsoft launches lower-priced AI laptops with Qualcomm chips

SAN FRANCISCO: Microsoft on Tuesday said it will release a new laptop and tablet with chips from Qualcomm at lower...

Published 06 May, 2025 06:53pm

South Asia

Britain and India clinch landmark trade deal in shadow of Trump’s tariffs

NEW DELHI/LONDON: India and the United Kingdom concluded on Tuesday a long-coveted free trade pact, in a landmark...

Published 06 May, 2025 06:46pm

USA

US trade deficit surges to record high in March

WASHINGTON: The U.S. trade deficit widened to a record high in March as businesses boosted imports of goods ahead of...

Published 06 May, 2025 06:39pm

Companies

Musk’s xAI joins TWG Global, Palantir for AI push in financial sector

Elon Musk’s artificial intelligence company xAI has partnered with Palantir Technologies and investment firm TWG...

Published 06 May, 2025 06:34pm

Stocks

Most Gulf markets gain on oil ahead of Fed policy meet

Most stock markets in the Gulf ended higher on Tuesday helped by a rebound in oil prices while investors awaited the...

Published 06 May, 2025 06:30pm

Money & Banking

UBS agrees private credit tie-up with General Atlantic

LONDON: Swiss lender UBS Group and U.S. investment firm General Atlantic have agreed to make a joint push into the...

Published 06 May, 2025 06:27pm

Money & Banking

India’s Bank of Baroda expects margin pressure to persist for two more quarters

BENGALURU: India’s Bank of Baroda expects margin pressure to continue through the second quarter of this fiscal,...

Published 06 May, 2025 05:38pm

Companies

India’s Paytm posts wider sequential loss as stock option costs weigh

India’s Paytm on Tuesday reported a wider sequential loss for the March quarter as one-time employee stock option...

Published 06 May, 2025 05:28pm

Companies

Marriott amplifies travel industry stress with 2025 revenue forecast cut

Marriott International trimmed its 2025 room revenue forecast and projected second-quarter profit below Wall Street...

Published 06 May, 2025 05:25pm

Commodities

Raw sugar extends rebound, NY cocoa steadies after slide

PARIS: Raw sugar futures extended gains, as they recovered from last week’s 3-1/2-year low, and London white sugar...

Published 06 May, 2025 05:21pm

USA

US banks modest use of risk transfers is credit positive, Moody’s says

A very small proportion of U.S. banks have issued a complex product that enabled them to shed risk from loan...

Published 06 May, 2025 05:17pm

Forex

Sterling gains on dollar and euro

LONDON: The pound strengthened against both the dollar and the euro on Tuesday, largely due to weakness in both...

Published 06 May, 2025 05:10pm

Europe

Oil price crucial for Russia, but national interests come first, Kremlin says

MOSCOW: Oil prices play a crucial role in Russia’s budget and the Russian economy overall, but Russian national...

Published 06 May, 2025 05:08pm

Companies

Nokian Tyres posts big profit miss as Trump’s tariffs drive uncertainty

Finnish tyre maker Nokian reported a much wider than expected operating loss for the first quarter on Tuesday,...

Published 06 May, 2025 05:02pm

Companies

Ferrari earnings up 15% in first quarter, but confirms risks from US tariffs

MILAN: Luxury sports-car maker Ferrari said on Tuesday its core earnings rose 15% in the first quarter supported by...

Published 06 May, 2025 04:59pm

Commodities

Corn firms; soy stays subdued with weather, trade talks in focus

PARIS/BEIJING: Chicago corn futures edged up on Tuesday after hitting a one-month low in the previous session, while...

Published 06 May, 2025 04:56pm

Stocks

Financials drag Indian benchmarks lower on profit booking, Bank of Baroda earnings

India’s equity benchmark indexes inched lower on Tuesday, dragged by financials as investors booked profits after...

Published 06 May, 2025 04:45pm

Stocks

Sri Lankan shares lifted by IT, energy

Sri Lankan shares closed higher on Tuesday, led by the gains in information technology and energy stocks. The CSE...

Published 06 May, 2025 04:43pm

Business & Economy

Trump tariffs: US offers Pakistan to buy more cotton

The United States has encouraged Pakistan to enhance its cotton imports, citing Pakistan’s local textile industry’s...

Updated 06 May, 2025 10:10pm

Commodities

Copper buoyed by softer dollar, focus on tariff tensions

LONDON: Copper prices rose on Tuesday as the dollar eased but weighing on sentiment was the prospect of slowing...

Published 06 May, 2025 04:35pm

Commodities

Palm falls on rival oils, market awaits for May production outlook

JAKARTA: Malaysian palm oil futures reversed gains on Tuesday, continuing their decline for the sixth straight...

Published 06 May, 2025 04:32pm

Money & Banking

Bank Al Habib shuts representative office in Kenya

Bank Al Habib Limited (BAHL) is officially closing its representative office in Kenya, following formal approvals...

Published 06 May, 2025 03:26pm

Money & Banking

KIBOR falls after SBP cut policy rate

Following the State Bank of Pakistan’s (SBP) decision to reduce the interest rate by 1%, Karachi Interbank Offered...

Updated 06 May, 2025 10:57pm

Taxes

APTMA opposes new ‘draconian’ tax ordinance, calls for immediate repeal

The All Pakistan Textile Mills Association (APTMA) voiced concerns against the newly promulgated Ordinance No. IV of...

Updated 06 May, 2025 10:11pm

Financial

Gold price per tola gains further Rs6,100 in Pakistan

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

Updated 06 May, 2025 07:20pm

Energy

Russia’s oil price in roubles at two-year low, 40% below budgeted level, data shows

MOSCOW: Russia’s oil price in roubles has fallen to a two-year low below the 4,000 rouble per barrel mark and some...

Published 06 May, 2025 01:11pm

Stocks

European shares hold ground as investors assess earnings; focus on Fed, tariff updates

European shares were little changed on Tuesday as investors assessed a spate of corporate earnings and monitored...

Published 06 May, 2025 01:09pm

Energy

EU to set out plans to halt Russian gas imports by end-2027

BRUSSELS: The European Union will publish plans on Tuesday to ban new Russian gas deals by the end of this year, and...

Published 06 May, 2025 01:01pm

Business & Finance

Aurangzeb departs for London to promote investment and engage with UK officials

Finance Minister Muhammad Aurangzeb on Tuesday departed for London, where he is scheduled to hold meetings with...

Published 06 May, 2025 12:44pm

Forex

South African rand stable before PMI data

JOHANNESBURG: The South African rand was stable in early trade on Tuesday ahead of the release of a purchasing...

Published 06 May, 2025 12:40pm

Mutual Funds

German bond yields at three week highs as investors await debt sales

LONDON: Benchmark German government bond yields rose to their highest in three weeks on Tuesday as investors braced...

Published 06 May, 2025 12:39pm

Commodities

Palm rises on Chicago soyoil, May production outlook

JAKARTA: Malaysian palm oil futures rose on Tuesday, after five straight sessions of decline, supported by strength...

Published 06 May, 2025 12:37pm

Business & Finance

Hugo Boss reports first-quarter revenue above estimates

German fashion group Hugo Boss reported a better-than-expected quarterly revenue on Tuesday and confirmed its...

Published 06 May, 2025 12:35pm

Stocks

India’s IPO market loses steam on global market jitters

At least two initial public offerings worth $759 million are expected to be delayed, adding to a growing list of...

Published 06 May, 2025 12:19pm

Companies

BankIslami acquires 32-storey tower in Karachi

BankIslami Pakistan Limited has acquired KASB Altitude, a 32-storey commercial building, in Karachi, which it shall...

Published 06 May, 2025 11:47am

Commodities

Chicago soybeans dip as traders track Sino-US trade talks

BEIJING: Chicago soybean futures fell on Tuesday as traders weighed US-China trade developments, and concerns that...

Published 06 May, 2025 11:22am

Commodities

Iron ore ticks up on Sino-US trade talk hopes, resilient China demand

SINGAPORE: Iron ore futures prices edged up on Tuesday, underpinned by hopes of a trade deal between the US and top...

Published 06 May, 2025 11:20am

Business & Finance

Malaysia’s exports impacted more by global economy than FX moves, minister says

KUALA LUMPUR: Malaysia’s trade minister said on Tuesday that the country’s exports will be impacted more by global...

Published 06 May, 2025 11:17am

Stocks

Australia shares muted; all eyes on Fed meeting

Australian shares traded flat on Tuesday, as a drop in banking shares offset gold stocks’ gains, while traders...

Published 06 May, 2025 11:00am

Forex

Thai baht/US dollar steady on Tuesday

The baht was 0.04% higher at 32.93 versus the dollar

Published 06 May, 2025 10:58am

Commodities

Vietnam’s April rice exports up 12.3% y/y at 1.13mn T

HANOI: Vietnam exported 1.125 million metric tons of rice in April, up 12.3% from the same month last year,...

Published 06 May, 2025 10:55am

Commodities

Vietnam January-April coffee exports down 9.8% y/y at 663,000 T

HANOI: Vietnam exported 663,000 metric tons of coffee in the January-April period, down 9.8% from the same period...

Published 06 May, 2025 10:54am

Commodities

Copper rises on US-China dialogue hopes

SHANGHAI: Copper prices edged higher on Tuesday as signs of US-China trade talks boosted sentiment, though lingering...

Published 06 May, 2025 10:52am

Business & Finance

Vietnam April exports up 19.8% y/y, industrial production up 8.9%

HANOI: Vietnam’s exports rose 19.8% in April from a year earlier to $37.45 billion, government data showed on...

Published 06 May, 2025 10:50am

Forex

China’s yuan jumps to 1-1/2 month high on hopes of thaw in Sino-US trade war

SHANGHAI: China’s yuan leapt to a 1-1/2-month high against the dollar on Tuesday, the first trading session after...

Published 06 May, 2025 10:49am

Stocks

China, HK stocks gain on trade deal hopes, local currency strength

SHANGHAI: China and Hong Kong stock benchmarks rose almost 1% on Tuesday, as expectations for a China-US trade deal...

Published 06 May, 2025 10:47am

Mutual Funds

India bond yields rise on profit booking, traders eye central bank bond purchase

MUMBAI: Indian government bond yields rose on Tuesday as traders booked profits ahead of the central bank’s open...

Published 06 May, 2025 10:46am

Bullion Rate

Gold hits two-week high on safe-haven demand; Fed decision looms

Gold prices rose to a two-week high on Tuesday as concerns over US President Donald Trump’s tariff plans boosted...

Published 06 May, 2025 10:44am

Stocks

Australia, New Zealand currencies slip from recent highs as Taiwan dollar steadies

SYDNEY: The Australian and New Zealand currencies slipped from their recent highs on Tuesday as a relentless rise in...

Published 06 May, 2025 10:42am

Currency

Rupee registers marginal decline against US dollar

Currency settles at 281.37 against greenback

Updated 06 May, 2025 07:00pm

Business & Finance

Norway’s Telenor lags first-quarter core earnings expectations

Norwegian telecom operator Telenor reported first-quarter earnings slightly below analysts’ expectations on Tuesday...

Published 06 May, 2025 10:32am

Stocks

KSE-100 closes over 500 points lower as late-session selling erases intra-day gains

Pakistan, India tensions continue to take a toll on stock market

Updated 06 May, 2025 10:56pm

Stocks

India’s benchmarks to open higher; Ather Energy set for market debut

India’s benchmark indexes are poised to open higher on Tuesday, as lower oil prices and sustained foreign inflows...

Published 06 May, 2025 08:15am

Forex

Indian rupee to slip at open on Chinese yuan-led Asia FX weakness

MUMBAI: The Indian rupee is set to weaken at the open on Tuesday, mirroring losses in the offshore Chinese yuan,...

Published 06 May, 2025 08:11am

Business & Finance

Shein, Temu ramp up advertising in UK and France as US tariffs hit

NEW YORK: Shein and Temu, fast-fashion e-commerce platforms that ship merchandise from China, boosted their spending...

Published 06 May, 2025 07:57am

Stocks

Stocks drift, dollar steadies as focus shifts to Asian currencies

SINGAPORE: Global stocks held tight ranges on Tuesday and the dollar clawed back some of its recent losses against...

Published 06 May, 2025 07:53am

Forex

Dollar restrained by surge in Asian counterparts

SINGAPORE: The dollar struggled to make headway on Tuesday as an unprecedented two-day surge in its Taiwanese...

Published 06 May, 2025 07:36am

Energy

Oil climbs 2% as price drop triggers buying; oversupply worries weigh

LONDON: Oil gained more than $1 per barrel on Tuesday, rebounding on technical factors and bargain hunting after a...

Updated 06 May, 2025 05:33pm

Industry

Taxation: BQATI urges govt to withdraw new Ordinance

KARACHI: The Bin Qasim Association of Trade & Industry (BQATI) Monday issued a strongly critical statement...