News Archives for Business & Finance - 2025-05-12

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Business & Finance - 2025-05-12

Stocks

S&P 500 jumps to over two-month high after US-China tariff truce

The S&P 500 hit its highest since early March on Monday as a crucial U.S.-China agreement to slash tariffs put...

Published 12 May, 2025 08:29pm

Stocks

TSX gains on US-China tariff agreement

Canada’s main stock index rose on Monday as the United States and China reached a deal to reduce tariffs, boosting...

Published 12 May, 2025 08:26pm

Companies

India’s Tata Steel beats quarterly profit estimates on lower expenses

Tata Steel, India’s second-biggest steelmaker by market cap, reported a bigger-than-expected rise in quarterly...

Published 12 May, 2025 08:24pm

Stocks

Most Gulf shares gain on US-China tariff deal; Egypt snaps losing streak

Gulf equities ended higher on Monday as the U.S. and China agreed to temporarily slash harsh reciprocal tariffs...

Published 12 May, 2025 08:09pm

Companies

China’s Ant Group to sell 4% stake in India’s Paytm for $242mn, term sheet shows

China’s Ant Group will sell a 4% stake in Indian payments firm Paytm for $242 million, a term sheet seen by Reuters...

Published 12 May, 2025 07:08pm

Companies

Roche to invest $700mn in new drug manufacturing facility in North Carolina

Roche Group said on Monday that it plans to invest more than $700 million in a new drug manufacturing facility in...

Published 12 May, 2025 07:04pm

Currency

Sterling falls against dollar, firms versus euro, yen after US-China tariff deal

The pound slumped against a stronger dollar on Monday but firmed against the euro and yen as the United States and...

Published 12 May, 2025 07:00pm

Companies

Indian e-scooter maker Ather posts first drop in annual loss on improving demand, margins

Indian e-scooter maker Ather Energy, founded in 2013, reported a smaller full-year loss for the first time ever on...

Published 12 May, 2025 06:56pm

Money & Banking

JPMorgan lifts China growth forecasts after ‘surprisingly positive’ US deal

LONDON: Investment bank JPMorgan lifted its forecasts for China’s economic growth on Monday following what it called...

Published 12 May, 2025 06:51pm

Commodities

Wheat steady-down 1 cent, corn up 4-6, soybeans up 16-20

CHICAGO: The following are U.S. expectations for the resumption of grain and soy complex trading at the Chicago...

Published 12 May, 2025 06:49pm

USA

Markets pare bets on Fed rate cuts following U.S.-China tariff delay

WASHINGTON: Investors trimmed bets on Federal Reserve rate cuts following the announcement of a delay of the most...

Published 12 May, 2025 06:46pm

Middle East

Elon Musk invited to Saudi-US investment forum in Riyadh, planning note says

WASHINGTON: Elon Musk has been invited to attend a Saudi-U.S. investment forum in Riyadh on Tuesday on the sidelines...

Published 12 May, 2025 06:43pm

Companies

Fox names new streaming service ‘Fox One’, plans launch before football season

Fox Corp said its new subscription-based streaming service will be called “Fox One” and is set to launch before the...

Published 12 May, 2025 06:39pm

Commodities

Soybeans, corn up on US-China trade optimism; wheat flat

BEIJING/HAMBURG: Chicago soybean and corn futures rose on Monday, supported by positive U.S.-China trade...

Published 12 May, 2025 05:55pm

Money & Banking

BoE’s Greene says price pressures still too high, inflation expectations rising

LONDON: Bank of England monetary policymaker Megan Greene said on Monday that wage and inflation measures were...

Published 12 May, 2025 05:50pm

Africa

Nigeria’s economy grows strongly amid high inflation, World Bank says

ABUJA: Nigeria’s economy recorded its fastest growth in about a decade in 2024, driven by a strong fourth quarter...

Published 12 May, 2025 05:47pm

Technology

Apple considers raising iPhone prices, WSJ reports

Apple is weighing price hikes for its upcoming fall iPhone lineup but is keen to avoid linking any increases to U.S....

Published 12 May, 2025 05:43pm

Commodities

Ukraine cuts minimum export prices for wheat, raises them for corn

KYIV: Ukraine’s farm ministry has cut minimum export prices for wheat and slightly increased them for corn, the...

Published 12 May, 2025 05:36pm

Business & Finance

Ecommerce packages left out of US, China tariff reprieve

GENEVA: An agreement between the United States and China to temporarily slash tariffs, announced on Monday, did not...

Published 12 May, 2025 05:33pm

Money & Banking

Turkish central bank gross reserves rose $6bn, reversing weeks of drops

ANKARA: Turkiye’s central bank returned to being a buyer of foreign currency last week, lifting its gross reserves...

Published 12 May, 2025 05:29pm

Commodities

Gold price per tola falls massive Rs10,400 in Pakistan

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

Updated 12 May, 2025 11:44pm

Business & Finance

Spain’s Abanca denies report of merger talks with Sabadell

MADRID: Spanish lender Abanca is not interested in a merger with Sabadell, it said on Monday, dismissing a report in...

Published 12 May, 2025 05:16pm

Middle East

Saudi Arabia launches company to develop artificial intelligence under PIF

DUBAI: Saudi Arabia’s Crown Prince Mohammed bin Salman launched a new company under the Public Investment Fund (PIF)...

Published 12 May, 2025 05:09pm

USA

US considering Qatar offer of plane, not worried about payback, White House says

WASHINGTON: President Donald Trump’s administration will act according to the law on Qatar’s offer of a plane to the...

Published 12 May, 2025 05:07pm

Stocks

Indian stocks log best day in 4 years on border truce; Pakistan shares surge

Indian shares logged their best session in more than four years on Monday, surging nearly 4% in a broad-based relief...

Published 12 May, 2025 05:03pm

Business & Economy

Eliminating FED alone won’t revive Pakistan’s real estate, says ABAD chairman

Withdrawal of the Federal Excise Duty (FED) on property transactions will not lead to substantial real estate...

Updated 12 May, 2025 04:53pm

Cotton & Textile

APTMA welcomes Trump’s trade pledge with Pakistan, expects tariff easing

The All Pakistan Textile Mills Association (APTMA) has welcomed US President Donald Trump’s intent to “increase...

Published 12 May, 2025 03:31pm

Business & Finance

Nissan to cut over 10,000 more jobs globally, NHK reports

TOKYO: Nissan Motor will additionally slash more than 10,000 jobs globally, bringing the total cuts including...

Published 12 May, 2025 02:17pm

Stocks

South Korean shares gain over 1% on US-China trade optimism

The benchmark KOSPI closed up 30.06 points, or 1.17%, at 2,607.33

Published 12 May, 2025 02:09pm

Budgets

Arif Habib expects super tax cut in upcoming budget

Arif Habib, the founder and CEO of Arif Habib Corporation Limited, expects a reduction in the super tax in the...

Updated 12 May, 2025 11:43pm

Forex

Kenya shilling steady in subdued market activity

Commercial banks quoted the shilling at 129.00/50

Published 12 May, 2025 01:08pm

Stocks

European shares rise as US, China hail ‘constructive’ Geneva trade talks

European shares rose on Monday, as investors welcomed signs of progress in US-China trade talks aimed at cooling a...

Published 12 May, 2025 01:06pm

Business & Finance

US and China reach deal to slash trade tariffs

GENEVA: The United States and China said on Monday they have agreed a deal to slash reciprocal tariffs for now as...

Updated 12 May, 2025 07:57pm

Forex

China’s yuan strengthens after progress in Sino-US trade talks, but caution remains

SHANGHAI: The yuan strengthened on Monday despite dollar’s rebound, reflecting market optimism after the US and...

Published 12 May, 2025 12:33pm

Mutual Funds

JGB yields rise as US-China trade talks lift risk appetite

TOKYO: Japanese government bond yields rose on Monday, as signs of progress in US-China trade negotiations bolstered...

Published 12 May, 2025 12:23pm

Business & Finance

South Africa’s MTN Group reports 33% rise in Q1 core profit

JOHANNESBURG: South Africa’s MTN Group, on Monday, reported a 33% jump in first-quarter core profit due to strong...

Published 12 May, 2025 12:19pm

Mutual Funds

Bund yields hit fresh one-month high as trade talks ease economic concerns

Euro area benchmark Bund yields hit a fresh one-month high and markets cut bets on European Central Bank interest...

Published 12 May, 2025 11:58am

Business & Finance

SoftBank Group seen booking modest fourth quarter loss as Vision Fund suffers

TOKYO: Japanese technology investor SoftBank Group is expected to book a quarterly net loss of 26.9 billion yen...

Published 12 May, 2025 11:44am

Mutual Funds

Pakistan’s sovereign bonds rally as ceasefire with India continues

LONDON: Pakistan’s sovereign bonds rallied more than 4 cents on Monday, Tradeweb data showed, as a ceasefire with...

Published 12 May, 2025 11:31am

Commodities

Soybean futures climb on US-China trade optimism; wheat and corn fall

BEIJING: Chicago soybean futures rose for a third session on Monday, supported by positive developments in US-China...

Published 12 May, 2025 11:23am

Commodities

Iron ore climbs as progress in Sino-US trade talks lifts sentiment

BEIJING: Iron ore futures prices climbed on Monday, as “substantial progress” in trade talks between the United...

Published 12 May, 2025 11:22am

Stocks

China stocks rally, yuan gains on Geneva trade talk optimism

SINGAPORE/SHANGHAI: Chinese stocks rallied and the yuan strengthened on Monday, after weekend talks in Geneva...

Published 12 May, 2025 11:21am

Forex

Australia, NZ dollars make guarded gains on Sino-US trade anticipation

SYDNEY: The Australian and New Zealand dollars edged higher on Monday as signs of movement in the US-China trade...

Published 12 May, 2025 11:20am

Stocks

Japan’s Nikkei rises on US-China trade deal hopes

TOKYO: Japan’s Nikkei share average rose on Monday as indications of progress in US-China trade talks boosted hopes...

Published 12 May, 2025 11:18am

Markets

GSP plus status: EU review puts Pakistan’s duty-free export to the test amid reforms push

Pakistan’s crucial trade advantage under the European Union’s (EU) GSP plus (+) scheme remains under review, as the...

Published 12 May, 2025 11:18am

Stocks

Australia shares hit over two-month high on US-China trade deal hopes

Australian shares touched a more than two-month high on Monday, buoyed by positive investor sentiment after the US...

Published 12 May, 2025 11:17am

Business & Finance

Trump announces 59 percent drug prices cut

WASHINGTON: President Donald Trump said Monday he would slash drug prices by 59 percent, a day after he unveiled a...

Updated 12 May, 2025 05:50pm

Business & Finance

Italy’s UniCredit raises profit outlook, says to be selective on deals

MILAN: Italy’s second-biggest bank UniCredit strengthened its 2025 outlook on Monday after posting a surprise...

Published 12 May, 2025 10:53am

Companies

Shifa International Hospitals to buy out minority shareholders in subsidiary SMCI

Shifa International Hospitals Limited (SIHL) plans to buy out all the shares owned by minority shareholders in its...

Published 12 May, 2025 10:30am

Currency

Rupee posts marginal gain against US dollar

Currency settles at 281.57 against greenback in inter-bank

Updated 12 May, 2025 06:30pm

Stocks

Indian benchmarks rally 3%, eye best day in nearly a year on India-Pakistan truce

India’s benchmarks jumped over 3% and were on track to log their best session in almost a year on Monday after the...

Updated 12 May, 2025 12:54pm

Stocks

KSE-100 surges over 10,000 points on India-Pakistan ceasefire, IMF approval

The Pakistan Stock Exchange (PSX) staged a strong comeback on Monday, driven by a “convergence of positive...

Updated 12 May, 2025 07:54pm

Business & Finance

Japan’s Ishiba open to more stimulus but rules out sales tax cut

TOKYO: Japanese Prime Minister Shigeru Ishiba said on Monday the government was ready to take further steps to...

Published 12 May, 2025 08:43am

Bullion Rate

Gold falls as positive US-China talks erode safe-haven appeal

Gold slipped on Monday as optimistic signals from U.S.-China trade talks alleviated market fears, leading investors...

Published 12 May, 2025 08:20am

Stocks

Indian shares set to open higher on India-Pakistan ceasefire

Indian shares are set to open higher on Monday as India and Pakistan reached a truce over the weekend after intense...

Published 12 May, 2025 08:11am

Business & Finance

Japan’s Ishiba signals increasing corn imports as part of US trade talks

TOKYO: Japanese Prime Minister Shigeru Ishiba on Monday signalled that increasing corn imports from the U.S. would...

Published 12 May, 2025 08:00am

Stocks

Stocks, dollar up on US-China trade hope, details awaited

SYDNEY: Wall Street stock futures climbed and the dollar firmed against safe haven peers on Monday as signs of...

Published 12 May, 2025 07:52am

Forex

Dollar gains versus yen on US-China trade optimism; Kiwi climbs

TOKYO: The dollar climbed in early Asian trade on Monday after weekend talks between the United States and China...

Published 12 May, 2025 07:47am

Energy

Oil prices jump over 3% on US-China tariff reductions

TOKYO: Oil prices rose more than $2 in Asian trading on Monday after the US and China said they would ease some of...

Updated 12 May, 2025 01:01pm

Pakistan

CM for full 100pc fund allocation for ADP schemes

PESHAWAR: Chief Minister Khyber Pakhtunkhwa Ali Amin Gandapur has directed the authorities concerned for allocation...

Published 12 May, 2025 06:21am

Cotton & Textile

Weekly Cotton Review: Prices remain stable

KARACHI: The price of cotton remained generally stable. The conflict between Pakistan and India has affected...

Published 12 May, 2025 05:51am

Industry

PPA issues rebuttal to NA body statement

KARACHI: Pakistan Poultry Association (PPA) has issued a rebuttal to a statement given to National Assembly’s...

Updated 12 May, 2025 08:23am

Money & Banking

Canadian dollar falls against the greenback

TORONTO: The Canadian dollar weakened to a three-week low against its US counterpart on Friday as signs that trade...

Published 12 May, 2025 05:51am

Money & Banking

Sterling claws higher after US/UK trade deal

LONDON: The pound rose on Friday, following the announcement of a “breakthrough” trade deal between Britain and...

Published 12 May, 2025 05:51am

Money & Banking

China’s yuan slips against dollar

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

Published 12 May, 2025 05:51am

Business & Finance

Prices of essential food items show mixed trend

PESHAWAR: Mixed trend in prices of daily use food items like live chicken/meat, sugar, flour, vegetables, cooking...

Updated 12 May, 2025 09:30am

Industry

Price deregulation improves access to medicines, helps stabilise industry

KARACHI: The price deregulation of non-essential medicines in early 2024 has improved access to medicines and...

Updated 12 May, 2025 02:23pm

Business & Finance

BMP says new Tax Ordinance could stifle investment growth

LAHORE: The Businessmen Panel (BMP) of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has...

Published 12 May, 2025 05:51am

Industry

Mango exports begin from 25th

ISLAMABAD: The government has decided to commence mango exports from May 25. The Ministry of Commerce has issued a...

Published 12 May, 2025 05:51am

World

US, China reach deal to cut trade deficit

GENEVA: US Treasury Secretary Scott Bessent on Sunday reported “substantial progress” in US talks with China’s...

Published 12 May, 2025 05:51am

Business & Finance

Tariff anomalies: PTEA seeks rectification among industrial consumer categories

ISLAMABAD: Pakistan Textile Exporters Association (PTEA) has sought rectification of tariff design anomaly between...

Updated 12 May, 2025 09:21am

Budgets

Uplift projects: Ministry authorises Rs894.1bn in 10 months

ISLAMABAD: Ministry of Planning, Development and Special Initiatives has authorised a total of Rs894.1 billion...

Updated 12 May, 2025 08:58am

Previous Day

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Forex
World
Commodity

Currency	Rate

Stock	Volume

Item	Value

Gainers
Losers
Leaders

Stock	Price
First AL-Noor Mod. / Jun 9 First Al-Noor Modaraba(FANM)	7.39 ▲ 0.86 (13.17%)
First Fid. Leasing / Jun 9 First Fidelity Leasing Modaraba(FFLM)	9.67 ▲ 1 (11.53%)
Chenab Ltd / Jun 9 Chenab Limited(CHBL)	10.25 ▲ 1 (10.81%)
TPL REIT Fund I / Jun 9 TPL REIT Fund I(TPLRF1)	9.06 ▲ 0.83 (10.09%)
TPL Properties / Jun 9 TPL Properties Limited(TPLP)	11.31 ▲ 1.03 (10.02%)
Popular Islamic / Jun 9 Popular Islamic Modaraba(PIM)	25.69 ▲ 2.34 (10.02%)
Redco Textile / Jun 9 Redco Textiles Limited(REDCO)	28.68 ▲ 2.61 (10.01%)
Burshane LPG / Jun 9 Burshane LPG (Pakistan) Limited(BPL)	56.86 ▲ 5.17 (10%)
Cherat Packaging / Jun 9 Cherat Packaging Limited(CPPL)	83.72 ▲ 7.61 (10%)
Leather Up Ltd. / Jun 9 Leather Up Limited(LEUL)	38.73 ▲ 3.52 (10%)

Stock	Price
Pak Qatar Family / Jun 9 Pak Qatar Family Takaful Limited(PAKQATAR)	25.72 ▼ -2.86 (-10.01%)
Zuma Resources / Jun 9 Zuma Resources Limited(ZUMA)	79.08 ▼ -8.79 (-10%)
Ideal Spinning / Jun 9 Ideal Spinning Mills Limited(IDSM)	69.56 ▼ -7.71 (-9.98%)
D.S. Ind. Ltd. / Jun 9 D.S. Industries Limited(DSIL)	11.32 ▼ -0.99 (-8.04%)
Ruby Textile / Jun 9 Ruby Textile Mills Limited(RUBY)	17.06 ▼ -1.43 (-7.73%)
Javedan Corp.(Pref) / Jun 9 Javedan Corp.(Pref)(JVDCPS)	63.15 ▼ -5.25 (-7.68%)
Shakarganj / Jun 9 Shakarganj Limited(SML)	122.02 ▼ -7.83 (-6.03%)
Cresent Jute / Jun 9 Crescent Jute Products Limited(CJPL)	13.86 ▼ -0.85 (-5.78%)
Pak Qatar Gen.Takaful / Jun 9 Pak Qatar General Takaful Limited(PQGTL)	17.34 ▼ -1.03 (-5.61%)
Shahtaj Sugar / Jun 9 Shahtaj Sugar Mills Limited(SHJS)	161.83 ▼ -9.17 (-5.36%)

Stock	Volume
TPL Properties / Jun 9 TPL Properties Limited(TPLP)	56,532,004 ▲ 1.03
TPL Corp Ltd / Jun 9 TPL Corp Limited(TPL)	50,805,586 ▲ 1.3
Pace (Pak) Ltd. / Jun 9 Pace (Pakistan) Limited(PACE)	46,226,087 ▲ 0.49
WorldCall Telecom / Jun 9 Worldcall Telecom Limited(WTL)	25,502,243 ▲ 0.01
Waves Home Appliances / Jun 9 Waves Home Appliances Limited(WAVESAPP)	23,147,389 ▲ 0.42
TRG Pak Ltd / Jun 9 TRG Pakistan Limited(TRG)	19,523,819 ▲ 2.13
First Dawood Prop. / Jun 9 First Dawood Properties Limited(FDPL)	16,241,622 ▲ 0.31
TPL REIT Fund I / Jun 9 TPL REIT Fund I(TPLRF1)	16,207,570 ▲ 0.83
D.S. Ind. Ltd. / Jun 9 D.S. Industries Limited(DSIL)	16,047,600 ▼ -0.99
Pak Int.Bulk / Jun 9 Pakistan International Bulk Terminal(PIBTL)	15,523,458 ▲ 0.17

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