News Archives for Business & Finance - 2025-05-14

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Business & Finance - 2025-05-14

Industry

Priority projects in roads, railways and maritime must be shortlisted in first phase: Ahsan

Priority projects in roads, railways and maritime sector must be shortlisted in first phase of multi-modal network,...

Published 14 May, 2025 11:22pm

USA

China, US slash sweeping tariffs in trade war climbdown

Washington, Beijing agree to drastically lower sky-high tariffs in deal that emerged from pivotal talks at weekend in Geneva

Published 14 May, 2025 10:55pm

Companies

India’s HAL posts quarterly profit drop on aircraft supply delays

India’s Hindustan Aeronautics Ltd (HAL) reported a nearly 8% drop in its fourth-quarter profit on Wednesday, weighed...

Published 14 May, 2025 09:57pm

Companies

Paint maker Akzo Nobel India posts flat fourth-quarter profit on weak demand, higher costs

Paint maker Akzo Nobel India, opens new tab reported a flat fourth-quarter profit on Wednesday, due to weak demand...

Published 14 May, 2025 09:55pm

Companies

India’s IREDA files bankruptcy case against Gensol Engineering amid fraud allegations

State-owned Indian Renewable Energy Development Agency said on Wednesday it has filed a bankruptcy application...

Published 14 May, 2025 09:51pm

Stocks

European shares pull back after rally, earnings disappoint

European shares eased on Wednesday after a four-day rally fuelled by the U.S.-UK and U.S.-China trade deals that...

Published 14 May, 2025 09:46pm

Stocks

London stocks end mixed as investors assess corporate earnings

Britain’s blue-chip index closed lower on Wednesday, while mid-caps clocked gains as investors assessed a mixed bag...

Published 14 May, 2025 09:41pm

Companies

Sanofi to invest at least $20 billion in the US through 2030

French drugmaker Sanofi said on Wednesday it plans to invest at least $20 billion in the United States through 2030,...

Published 14 May, 2025 09:39pm

Companies

Warner Bros Discovery revives HBO Max branding for global push

Warner Bros Discovery is hitting rewind on Max’s branding, bringing back the HBO name it dropped from the streaming...

Published 14 May, 2025 09:29pm

Forex

South African rand recoups losses, power cuts in focus

JOHANNESBURG: South Africa’s rand recouped some losses on Wednesday, a day after the country’s power utility...

Published 14 May, 2025 09:22pm

Stocks

S&P flat as investors focus on trade developments

The S&P 500 was flat in choppy trading on Wednesday after the week’s strong start on the back of encouraging...

Published 14 May, 2025 09:03pm

Stocks

TSX slips after six-day win streak as investors await trade developments

Canada’s main stock index fell on Wednesday, after six straight sessions of gains, as investors took a breather...

Published 14 May, 2025 09:00pm

Companies

Hapag-Lloyd boosted by US-China trade truce, CEO says

FRANKFURT: Hapag-Lloyd has seen an increase in demand for freight traffic this week between the United States and...

Published 14 May, 2025 07:51pm

Financial

Saudi Arabia’s PIF strikes multi-billion investment deals with US asset managers

DUBAI: Saudi Arabia’s sovereign wealth fund Public Investment Fund on Wednesday announced it has struck...

Published 14 May, 2025 07:40pm

Stocks

Most Gulf bourses settle flat, oil prices fall

Most Gulf stock markets were unchanged at close on Wednesday after oil prices fell as investors looked for data...

Published 14 May, 2025 07:37pm

Companies

Roche says Trump’s drug price order threatens its $50 billion US investment plans

LONDON: U.S. President Donald Trump’s executive order on drug pricing threatens Roche’s planned $50 billion...

Published 14 May, 2025 07:33pm

Markets

Rs40mn CCP penalty: Al-Ghazi Tractors says ‘will take appropriate legal steps’

The Al-Ghazi Tractors Limited (AGTL) on Wednesday said it was reviewing the details of Rs40 million penalty by the...

Published 14 May, 2025 06:54pm

Technology

AMD announces new $6 billion share buyback plan

Chip designer Advanced Micro Devices said on Wednesday its board has approved a new $6 billion share buyback...

Published 14 May, 2025 06:52pm

Companies

Nvidia supplier Foxconn cuts outlook due to currency appreciation

TAIPEI: Taiwan’s Foxconn, the world’s largest contract electronics maker, downgraded its full-year outlook on...

Published 14 May, 2025 06:47pm

Commodities

Wheat steady-down 4 cents, corn mixed, soybeans steady-up 3

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

Published 14 May, 2025 06:44pm

Stocks

Broad gains lift Sri Lanka shares in first session of truncated week

CSE All-Share index, on the first trading day of the week, settled up 1.35% at 16131.24

Published 14 May, 2025 06:39pm

Energy

OPEC expects slower 2025 oil supply growth from rivals after price drop

LONDON: OPEC on Wednesday trimmed its forecast for growth in oil supply from the United States and other producers...

Published 14 May, 2025 05:38pm

Money & Banking

Julius Baer told to pay $5mn for money laundering control failures

ZURICH: Swiss private bank Julius Baer has been ordered by the country’s financial regulator to pay more than 4...

Published 14 May, 2025 05:18pm

Financial

India’s Muthoot Finance beats profit estimates on strong loan growth

BENGALURU: Indian gold loan financier Muthoot Finance beat fourth-quarter profit estimates on Wednesday, aided by...

Published 14 May, 2025 05:11pm

Financial

Indian bonds extend rally on strong buying interest from banks, mutual funds

MUMBAI: Indian government bonds rose on Wednesday due to, according to traders, sustained buying interest from banks...

Published 14 May, 2025 05:06pm

Commodities

Gold price per tola falls Rs2,300 in Pakistan

Gold prices in Pakistan decreased on Wednesday in line with their fall in the international market. In the local...

Updated 14 May, 2025 05:09pm

Companies

TotalEnergies sells 50% stake in Polish biogas company to HitecVision

PARIS: TotalEnergies said on Wednesday it had signed an agreement to sell 50% of Polish biogas producer Polska Grupa...

Published 14 May, 2025 04:42pm

Markets

Goldman Sachs says investors trim dollar holdings, return to neutral position on US

NEW YORK: Goldman Sachs President John Waldron said a recent lightening up of U.S. dollar assets by investors had...

Published 14 May, 2025 04:33pm

Stocks

India’s benchmarks inch higher as tech, metal stocks gain

India’s benchmark indexes ended higher on Wednesday, helped by a rise in information technology stocks on easing...

Published 14 May, 2025 04:26pm

Commodities

Base metals firm on easing US-China trade tensions and weaker dollar

Copper prices rose on Wednesday as a 90-day pause on most of the tit-for-tat tariffs agreed by Beijing and...

Published 14 May, 2025 04:24pm

Commodities

Palm oil rises tracking firmer Dalian rivals; stronger ringgit limits upside

JAKARTA: Malaysian palm oil futures extended gains to the fourth straight session on Wednesday, taking cues from...

Published 14 May, 2025 04:21pm

Business & Finance

Pakistan, Japan sign $3.5mn agreement for installation of smart water meters

The Government of Japan approved on Wednesday an amount of JPY 510 million ($3.5 million) for Economic and Social...

Published 14 May, 2025 03:21pm

Business & Finance

McDonald’s India operator posts higher quarterly profit as cheaper menu draws consumers

Westlife Foodworld, the operator of McDonald’s in parts of India, reported a jump in fourth-quarter profit on...

Published 14 May, 2025 02:57pm

Business & Finance

Ford to recall more than 273,000 vehicles

Ford Motor is recalling 273,789 vehicles in the United States as a loss of brake function may increase the risk of a...

Published 14 May, 2025 02:54pm

Forex

Ugandan shilling little-changed; dollar demand low due to tax payments

Commercial banks quoted the shilling at 3,650/3,660

Published 14 May, 2025 02:53pm

Companies

Renewable rush continues in Pakistan: Logistics firm to setup 1MW solar plant

Ali Asghar Textile Mills Limited (AATM), a former textile unit turned logistic service provider, is developing a...

Published 14 May, 2025 02:27pm

Stocks

European shares flat as gains from US-China truce pause

European shares opened flat on Wednesday as investors took a breather after gains seen earlier this week following...

Published 14 May, 2025 02:18pm

Business & Economy

Pakistan’s economy pulled off ‘macroeconomic miracle’ in past two years: Barron’s

Barron’s, an American weekly magazine and newspaper published by Dow Jones & Company, has lauded Pakistan’s...

Updated 14 May, 2025 11:05pm

Companies

Operations begin at Lucky Cement’s new clinker line in Iraq

Lucky Cement Limited announced on Wednesday that its new clinker line has started operations at Najmat Al-Samawah...

Published 14 May, 2025 01:11pm

Business & Finance

German inflation confirmed at 2.2% in April

BERLIN: German inflation eased further to 2.2% in April, the federal statistics office said on Wednesday, confirming...

Published 14 May, 2025 01:06pm

Business & Finance

Burberry plans 1,700 job cuts, full-year profit beats expectations

LONDON: British luxury brand Burberry on Wednesday said it would cut 1,700 jobs globally as it tries to cut costs...

Published 14 May, 2025 01:04pm

Markets

BYD tops Singapore vehicle sales so far this year, replacing Toyota

SINGAPORE: China’s BYD became the most popular vehicle brand in Singapore so far this year, outselling Toyota for...

Published 14 May, 2025 12:59pm

Markets

Pakistan receives second tranche of $1.02bn from IMF, confirms SBP

Inflows will be reflected in SBP's liquid reserves to be released on May 16, 2025

Updated 14 May, 2025 10:18pm

Stocks

Gold stocks drag Australian shares lower

Australian shares declined on Wednesday, after ending the last session at an 11-week high, as a slide in gold stocks...

Published 14 May, 2025 11:49am

Stocks

South Korean shares rise for third day on chip boost

The benchmark KOSPI was up 15.22 points, or 0.58%, at 2,623.64

Published 14 May, 2025 11:46am

Forex

Australia, New Zealand dollars maintain strong gains as global economy outlook brightens

SYDNEY: The Australian and New Zealand dollars basked in the glow of robust overnight gains on Wednesday, as the US...

Published 14 May, 2025 11:43am

Commodities

Iron ore climbs to over 5-week high on Sino-US trade optimism

BEIJING: Prices of iron ore futures climbed to the highest point in more than five weeks on Wednesday, driven by...

Published 14 May, 2025 11:41am

Forex

Indian rupee set to rise on US inflation-spurred dollar weakness, outflow reprieve

MUMBAI: The Indian rupee is expected to open higher on Wednesday, aided by a weaker dollar following soft US...

Published 14 May, 2025 11:38am

Stocks

Japan’s Nikkei reverses gains on sell-off to book profits

TOKYO: Japan’s Nikkei share average reversed course to trade lower on Wednesday as investors sold stocks to book...

Published 14 May, 2025 11:34am

Commodities

Palm oil rises on stronger related oils on Dalian, Chicago

JAKARTA: Malaysian palm oil futures extended gains to a fourth consecutive session on Wednesday, taking cues from...

Published 14 May, 2025 11:32am

Business & Finance

IMF cuts Angola’s 2025 growth forecast to 2.4% on emerging risks

NAIROBI: The International Monetary Fund has cut Angola’s preliminary growth outlook for 2025 to 2.4% from an...

Published 14 May, 2025 11:30am

Stocks

KSE-100 closes flat as late-session selling erases intra-day gains

The Pakistan Stock Exchange (PSX) witnessed mixed trading on Wednesday, as its benchmark KSE-100 Index swayed in...

Updated 14 May, 2025 10:44pm

Business & Finance

Sony forecasts flat profit this year as tariffs bite

TOKYO: Sony said on Wednesday it expects operating profit to rise 0.3% to 1.28 trillion yen ($8.7 billion) in the...

Published 14 May, 2025 11:19am

Forex

China’s yuan falls from six-month peak on rising dollar demand

SHANGHAI: China’s yuan fell from a six-month peak against its US counterpart on Wednesday, pressured by rising...

Published 14 May, 2025 11:15am

Commodities

India to defend import curbs on copper in legal tussle with trade associations, sources say

NEW DELHI: The Indian government is expected to argue that there is sufficient domestic supply of copper cathodes,...

Published 14 May, 2025 11:13am

Stocks

Tech shares lift Hong Kong stocks, earnings in focus

SHANGHAI: Hong Kong stocks rose on Wednesday, led by tech shares, as easing US-China trade tensions bolstered...

Published 14 May, 2025 11:01am

Technology

Tesla board explores new pay deal for CEO Elon Musk, FT reports

Tesla’s board has formed a special committee to explore CEO Elon Musk’s pay, which could lead to him being offered a...

Published 14 May, 2025 10:58am

Currency

Rupee weakens further against US dollar

Currency settles at 281.72 against the greenback

Updated 14 May, 2025 06:30pm

Mutual Funds

Indian bond yields little changed as traders await fresh cues

MUMBAI: Indian government bond yields were little changed on Wednesday as investors awaited fresh triggers after a...

Published 14 May, 2025 10:41am

Technology

Chinese e-commerce sites offer discounts of up to $351 on Apple’s latest iPhones

BEIJING: Chinese e-commerce platforms are offering discounts of up to 2,530 yuan ($351) on Apple’s latest iPhone 16...

Published 14 May, 2025 10:39am

Commodities

Soybeans hit 9-month high on biofuel tax credit proposal, trade optimism

BEIJING: Chicago soybean futures rose to a nine-month high on Wednesday, supported by a proposal to extend the...

Published 14 May, 2025 10:36am

Commodities

South Korea’s NOFI tenders to buy up to 138,000 metric tons corn

HAMBURG: Leading South Korean feedmaker Nonghyup Feed Inc. (NOFI) has issued an international tender to purchase up...

Published 14 May, 2025 10:34am

Markets

MSCI adds 3 Pakistani cos to Frontier Market Index, 4 to FM Small Cap Index

Morgan Stanley Capital International (MSCI) Inc., a leading provider of critical decision support tools and...

Updated 14 May, 2025 10:45pm

Energy

DGPC provisionally awards 10 onshore exploration blocks to MariEnergies

The Directorate General of Petroleum Concessions (DGPC) has provisionally awarded 10 new onshore exploration blocks...

Published 14 May, 2025 10:09am

Stocks

Indian benchmarks set to open higher on softer US, domestic inflation data

India’s benchmark indexes may open higher on Wednesday, after logging their biggest daily losses in a month in the...

Published 14 May, 2025 08:10am

Bullion Rate

Easing US-China trade tensions send gold lower as safe-haven demand weakens

Gold prices fell on Wednesday as de-escalation in U.S.-China trade tensions weakened safe-haven demand, while...

Published 14 May, 2025 08:07am

Taxes

Federal capital: FBR plans to expand scope of ST on services

ISLAMABAD: The Federal Board of Revenue (FBR) is planning to expand the scope of sales tax on services within the...

Published 14 May, 2025 07:55am

Markets

Global EV sales rise in April despite trade disruptions, research finds

Global sales of electric and plug-in hybrid vehicles rose 29% year-on-year in April, with stable growth in China and...

Published 14 May, 2025 07:54am

Companies

Deceptive claims: CCP imposes Rs40m fine on Al-Ghazi Tractors

ISLAMABAD: The Competition Commission of Pakistan (CCP) Tuesday imposed a penalty of Rs 40 million on a tractor...

Published 14 May, 2025 07:52am

Energy

Oil falls after US crude inventories rise

NEW YORK: Oil prices edged lower on Wednesday after government data showed U.S. crude oil stockpiles rose...

Updated 14 May, 2025 09:43pm

Forex

Dollar steadies with trade talks in frame after sliding on cooler US inflation

TOKYO: The U.S. dollar stabilised on Wednesday following its biggest decline in more than three weeks overnight,...

Published 14 May, 2025 07:47am

Stocks

Shares up slightly, dollar struggles as investors consider tariff truce

TOKYO: Stocks edged up in Asia on Wednesday while the dollar wobbled as relatively benign U.S. inflation data fed...

Updated 14 May, 2025 11:05am

Business & Finance

POS invoicing: SRB conducts first computerised prize ballot draw

KARACHI: The Sindh Revenue Board (SRB) on Tuesday conducted its first computerised prize ballot draw for customers...

Published 14 May, 2025 06:51am

Industry

Cement distribution sector: LCCI urges FBR to withdraw SROs

LAHORE: President of the Lahore Chamber of Commerce & Industry Mian Abuzar Shad has urged the Federal Board of...

Published 14 May, 2025 06:50am

World

China removes ban on Boeing deliveries: Bloomberg

BENGALURU: China has removed a ban on airlines taking delivery of Boeing planes after the United States and China...

Published 14 May, 2025 06:41am

Taxes

Digital invoicing systems: ‘PRAL committed to rendering costfree services to taxpayers’

LAHORE: Pakistan Revenue Automation Limited (PRAL) is committed to render cost free services to all taxpayers for...

Published 14 May, 2025 06:39am

Taxes

STD secures penalty-default surcharge

LAHORE: The sales tax department has secured penalty and default surcharge imposed against a taxpayer due to delay ...

Published 14 May, 2025 06:36am

Previous Day

BR100
BR30
KSE100
KSE30
KMI30

1D 5D 3M 6M 1Y

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Jun 8	278.60
USD PKR Interbank Buying / Jun 8	278.40
USD to Japanese Yen / Jun 9	160.20
USD to Swiss Franc / Jun 9	0.80
Pound Sterling to USD / Jun 9	1.34
Euro to USD / Jun 9	1.15
SOFR % / Jun 8	3.62

Stock	Volume
S&P 500 / Jun 8	7,405.73
Nasdaq / Jun 8	25,929.66
Dow Jones / Jun 8	50,786.01
India Sensex / Jun 9	73,776.79
Tokyo Nikkei / Jun 9	65,416.63
Hang Seng / Jun 9	24,565.90
FTSE 100 / Jun 9	10,338.50
Germany DAX 30 / Jun 9	24,715.57
France CAC40 / Jun 9	8,262.73

Item	Value
Gold 10 Grams PKR / Jun 8	386,987
Petrol/Litre / Jun 9	377.78
Crude Oil USD/Barrel / Jun 9	89.19
Gold Spot USD/Ounce / Jun 9	4,335.23
Diesel/Litre / Jun 9	380.78
Cotton US¢/pound / Jun 9	77.45

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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