News Archives for Business & Finance - 2025-05-09

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Business & Finance - 2025-05-09

USA

Canada’s unemployment rate jumps to 6.9% in April, employment little changed

OTTAWA: Canada’s unemployment rate rose to 6.9% in April, matching the November figure when joblessness in the...

Published 09 May, 2025 09:23pm

Stocks

Europe’s STOXX 600 up, Germany’s DAX at record peak on trade deal optimism

European shares extended gains on Friday, with Germany’s DAX index closing at an all-time high, as signs of easing...

Published 09 May, 2025 09:15pm

Markets

IMF Executive Board approves $1bn loan tranche for Pakistan

Board also approves $1.4 billion under Resilience and Sustainability Facility

Updated 11 May, 2025 10:03pm

Stocks

Wall St range-bound as caution sets in ahead of US-China talks

Wall Street’s main indexes seesawed on Friday, as investors parsed President Donald Trump’s latest comments on...

Published 09 May, 2025 09:11pm

Money & Banking

China’s central bank to spur financing support for consumption, trade

BEIJING: China’s central bank said on Friday it will spur financial institutions to expand support for consumption...

Published 09 May, 2025 05:34pm

Companies

Vespa maker Piaggio’s revenue falls to 370.7 million euros

Italy’s Piaggio posted first-quarter 2025 consolidated revenue of 370.7 million euros ($416.82 million), down from...

Published 09 May, 2025 05:31pm

Commodities

Chicago soy, corn and wheat higher with trade talks, weather in focus

BEIJING/PARIS: Chicago soybean, corn and wheat futures edged higher on Friday as looming U.S.-China talks raised...

Published 09 May, 2025 05:21pm

Forex

India’s forex reserves drop $2 billion, snap 8-week streak of gains

MUMBAI: India’s foreign exchange reserves declined by $2.07 billion, to $686.06 billion as of May 2, snapping an...

Published 09 May, 2025 04:58pm

Money & Banking

State Bank of India to sell $1 billion stake in Yes Bank to Japan’s SMBC

MUMBAI: State Bank of India will divest a 13.19% stake in private lender Yes Bank to Japan’s Sumitomo Mitsui Banking...

Published 09 May, 2025 04:51pm

Companies

India’s Coforge to top $2 billion revenue target, CEO says

BENGALURU: Indian mid-tier IT services firm Coforge is betting that a healthy order book will help it top the $2...

Published 09 May, 2025 04:43pm

Money & Banking

After currency turmoil, Taiwan’s central bank warns banks to follow forex rules

TAIPEI: Taiwan’s central bank said on Friday that banks should follow foreign exchange settlement rules, after the...

Published 09 May, 2025 04:40pm

Companies

Nissan abandons plan for $1.1 billion EV battery plant in southern Japan

TOKYO: Nissan Motor said on Friday it would abandon a plan to build a $1.1 billion factory for electric vehicle...

Published 09 May, 2025 04:25pm

Stocks

Border conflict worry erases $83 billion from Indian equities in two days

Indian shares fell for a second straight session on Friday, losing about $83 billion in market value, as intensified...

Published 09 May, 2025 04:19pm

Commodities

Copper edges up on tighter nearby supply, focus on US-China trade talks

Copper prices edged up in London on Friday, supported by a weaker dollar and tighter nearby supply, reflected in the...

Published 09 May, 2025 04:14pm

Commodities

Palm gains capped as weekly loss stretches to second week

KUALA LUMPUR: Malaysian palm oil futures ended higher on Friday, reversing earlier losses, but still booked a second...

Published 09 May, 2025 04:10pm

Budgets

Budget FY26: govt formulating tariff rationalisation strategy

The government is formulating a strategy on tariff rationalisation, it was learnt on Friday. The development came...

Published 09 May, 2025 04:05pm

Money & Banking

Pakistan’s remittances hit $3.2bn in April, fall 22% MoM

Saudi Arabia remains Pakistan's top source of remittance inflows

Updated 09 May, 2025 10:51pm

Financial

Gold price per tola declines Rs1,800 in Pakistan

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

Updated 09 May, 2025 07:03pm

Stocks

European stocks climb on hopes of easing US-China trade tensions

European shares ticked higher on Friday, as investors bet on de-escalation in the trade war ahead of discussions...

Published 09 May, 2025 02:33pm

Business & Finance

Dubai International Chamber attracted 53 global companies in Q1 2025

Says it continues to play pivoral role in attracting FDI to the emirate

Published 09 May, 2025 02:27pm

Forex

South African rand little changed with global focus on US-China trade talks

JOHANNESBURG: The South African rand was little changed on Friday, with the global focus on US-China trade talks...

Published 09 May, 2025 02:09pm

Business & Economy

Global investors respond positively to Pakistan’s economic reforms

Global investors have responded positively to Pakistan’s reform and economic transformation agenda, as leading...

Updated 09 May, 2025 10:57pm

Forex

Australia, New Zealand currencies set for weekly loss as dollar makes comeback

SYDNEY: The Australian and New Zealand dollars are set for a weekly loss on Friday as a hawkish outlook on U.S...

Published 09 May, 2025 01:38pm

Commodities

Chicago soybeans dip on rising competition; wheat rises on China dry weather

BEIJING: Chicago soybean futures eased on Friday due to weak demand and rising global competition from Latin...

Published 09 May, 2025 01:37pm

Stocks

Australian shares rise on trade optimism, Macquarie earnings

Australian shares rose on Friday as global trade talks boosted investor sentiment, while Macquarie Group’s...

Published 09 May, 2025 01:36pm

Forex

China’s yuan slips as investors wary ahead of Sino-US trade talks

SHANGHAI: China’s yuan slipped against the dollar on Friday, as investors cautiously looked towards key tariff talks...

Published 09 May, 2025 01:30pm

Commodities

China’s copper concentrate imports at record high as more smelters prepare to open

SHANGHAI: China’s copper concentrate imports reached a record high in April, spurred by an expansion of domestic...

Published 09 May, 2025 12:13pm

Mutual Funds

Bund yields rise to multi-week highs on trade hopes

Safe-haven German Bund prices fell on Friday, driving yields higher, as expectations that a trade deal between the...

Published 09 May, 2025 12:02pm

Energy

China April crude oil imports up 7.5% on strong inflows of Iran, Russia supplies

China’s April crude oil imports slowed from the previous month but rose 7.5% from a year earlier due to abundant...

Published 09 May, 2025 12:00pm

Business & Finance

British Airways owner IAG to order 53 new Airbus and Boeing long-haul aircraft

British Airways owner IAG said on Friday that it will place an order for 53 new Airbus and Boeing long-haul...

Published 09 May, 2025 11:56am

Commodities

Palm rises on firmer Dalian oils, weak ringgit, but set for second weekly loss

KUALA LUMPUR: Malaysian palm oil futures opened higher on Friday for a second straight session, supported by...

Published 09 May, 2025 11:50am

Mutual Funds

Indian bond yields set to rise amid widening conflict with Pakistan

MUMBAI: Indian government bond yields are set to open higher on Friday as the widening conflict with Pakistan weighs...

Published 09 May, 2025 11:26am

Stocks

Japan’s Nikkei hits more than one-month high on optimism around trade talks

TOKYO: Japan’s Nikkei share average hit a more than one-month high on Friday, as risk appetite was lifted by hopes...

Published 09 May, 2025 11:24am

Forex

Ringgit, baht lead Asian FX lower as dollar firms on trade optimism

The Malaysian ringgit and Thailand’s baht led losses among subdued Asian currencies on Friday, as a firmer dollar...

Published 09 May, 2025 11:05am

Companies

Pakistan’s steel maker activates 6.4MW solar plant at Karachi plant

International Steels Limited (ISL), a subsidiary of International Industries Limited, has completed and activated a...

Updated 09 May, 2025 10:49pm

Mutual Funds

Japan’s 10-year bond yield hits near one-month high amid trade talk optimism

TOKYO: Japan’s 10-year government bond yield hit near a one-month high as optimism on global trade talks lifted...

Published 09 May, 2025 10:43am

Currency

Pakistan rupee depreciates further against US dollar

Local currency settles at 281.71 against greenback in inter-bank market

Updated 09 May, 2025 06:08pm

Companies

Mari Energies announces first gas discovery at Soho-1 well in Sindh

Mari Energies Limited, formerly Mari Petroleum Company Limited (MARI), has discovered gas production from its Soho-1...

Updated 09 May, 2025 10:50pm

Stocks

KSE-100 rebounds after historic plunge; IMF board meeting adds to investor focus

Stocks gain amid no news of any major escalation between Pakistan, India

Updated 09 May, 2025 06:58pm

Forex

Indian rupee likely to weaken more on widening India-Pakistan conflict

MUMBAI: The Indian rupee looks set to decline further on Friday, pressured by the widening conflict between India...

Published 09 May, 2025 08:28am

Stocks

Indian shares fall after India says Pakistan launched multiple attacks

Indian stocks opened lower on Friday after the army said Pakistani forces launched multiple overnight drone and...

Updated 09 May, 2025 12:26pm

Bullion Rate

Gold falls as US-UK trade deal weighs on safe-haven appeal; US-China talks in focus

Gold fell on Friday after U.S. President Donald Trump announced a trade deal with the UK, dimming bullion’s...

Published 09 May, 2025 08:17am

Currency

Bitcoin retakes $100,000 on global trade deal optimism

NEW YORK/LONDON: Bitcoin topped $100,000 on Thursday for the first time since early February, bolstered by a...

Published 09 May, 2025 08:12am

Forex

Dollar eyes weekly rise into US-China trade talks

SINGAPORE: The dollar headed for a weekly gain on most major peers on Friday as a U.S.-UK trade deal raised hopes of...

Published 09 May, 2025 08:07am

Energy

Oil set for weekly gain ahead of US-China trade talks

LONDON: Oil prices rose on Friday, poised for a weekly gain as trade tensions between top oil consumers China and...

Updated 09 May, 2025 06:13pm

Stocks

Japanese stocks jump, dollar firms on trade hopes; bitcoin soars

TOKYO: Japanese stocks jumped on Friday, supported by the dollar’s surge against the yen, after a U.S. trade deal...

Published 09 May, 2025 08:01am

Pakistan

Job opportunities: German embassy and SAP to launch training programme

KARACHI: The German embassy and German company SAP are working on launching a training programme to provide...

Published 09 May, 2025 07:26am

Cotton & Textile

National cotton policy: KCA hails APTMA-PCGA decision

LAHORE: The Karachi Cotton Association (KCA) has taken note of recent reports in the electronic media indicating ...

Published 09 May, 2025 06:58am

Taxes

Experts say Tax Ordinance will harm investment climate

LAHORE: A diverse group of businessmen, legal experts, tax specialists and journalists believed that the recently...

Published 09 May, 2025 06:57am

Industry

SAPM says issues facing KCCI to be resolved

ISLAMABAD: Special Assistant to the Prime Minister (SAPM) on Industries and Production Haroon Akhtar Khan has ...

Published 09 May, 2025 06:50am

Industry

TDAP seminar highlights sorghum export opportunity to China

SAHIWAL: The Trade Development Authority of Pakistan (TDAP) hosted a seminar titled “Seizing Global Market...

Published 09 May, 2025 06:48am

Business & Finance

Minister, FCCI chief discuss reforms in FBR

ISLAMABAD: President of Faisalabad Chamber of Commerce & Industry (FCCI), Rehan Naseem Bharara, called on ...

Published 09 May, 2025 06:46am

Industry

PSMA concerned at new Tax Ordinance

KARACHI: Vice Chairman of Pakistan Soap Manufacturers Association (PSMA), Tariq Zakaria held an important extra...

Published 09 May, 2025 06:44am

Money & Banking

ICMAP proposes four-pillar crypto adoption framework and CBDC launch plan

KARACHI: The Institute of Cost and Management Accountants of Pakistan (ICMAP), through its Research and Publications...