News Archives for Business & Finance - 2025-05-15

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Business & Finance - 2025-05-15

Markets

SME Leasing Limited board approves closure plan

The Board of Directors of SME Bank Limited has approved the closure strategy of the company, according to a stock...

Published 15 May, 2025 10:25pm

Forex

SBP-held foreign exchange reserves increase $71mn to $10.40bn

Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $71 million on a weekly basis,...

Published 15 May, 2025 07:40pm

Companies

HUBCO’s Prime wins bid for two onshore blocks

The Hub Power Company Limited informed on Thursday that Prime International Oil and Gas Company Limited has made a...

Published 15 May, 2025 04:01pm

South Asia

Sri Lanka restructures nearly $931 million in credit lines with India

COLOMBO: Sri Lanka has restructured nearly $931 million in lines of credit and buyers’ credit facility agreements...

Published 15 May, 2025 03:30pm

Forex

Kenyan shilling holds steady against the dollar

NAIROBI: Kenya’s shilling was stable on Thursday but market participants said it could weaken slightly later in the...

Published 15 May, 2025 03:26pm

Commodities

Japan rubber futures snap 10-day winning streak on trade uncertainty, supply outlook

SINGAPORE: Japanese rubber futures snapped a 10-day winning streak on Thursday, as market uncertainty surrounding...

Published 15 May, 2025 03:25pm

Commodities

Chicago soybeans retreat from near 10-month highs as soyoil slumps; wheat rises

BEIJING: Chicago soybean futures slipped from near 10-month highs on Thursday, weighed down by a sharp drop in...

Published 15 May, 2025 03:19pm

Stocks

South Korea stocks fall as rally from US-China trade talks loses steam

Benchmark KOSPI closed down 19.21 points, or 0.73%, at 2,621.36

Published 15 May, 2025 03:18pm

Commodities

Saudi Arabia issues tender to buy 655,000 metric tons of wheat

Saudi Arabia has issued a tender to buy 655,000 metric tons of wheat for the August to October 2025 shipment period,...

Published 15 May, 2025 03:15pm

Stocks

Gulf markets lacklustre as global stocks rally loses steam

Most Gulf stocks were unchanged early on Thursday, as oil prices slid and broader Asian stocks fell after enthusiasm...

Published 15 May, 2025 03:11pm

Commodities

Asia coffee: Domestic prices fall in Vietnam, new beans hit Indonesian market

HANOI: Coffee prices in Vietnam edged down on Thursday, while discounts narrowed in Indonesia as beans from the new...

Published 15 May, 2025 03:09pm

South Asia

Trump: India has offered US a trade deal with no tariffs

U.S President Donald Trump said on Thursday that India had offered the U.S a trade deal that proposed “no tariffs”....

Published 15 May, 2025 03:06pm

Money & Banking

Stanchart builds US-based private equity team amid investment bank push

LONDON: Standard Chartered has created a dedicated team covering private equity firms, hedge funds and sovereign...

Published 15 May, 2025 03:02pm

Commodities

Iron ore futures hover near 5-week high; China credit data caps gains

BEIJING: Iron ore futures held near a five-week high on Thursday, boosted by improved demand outlook from the...

Published 15 May, 2025 02:56pm

Energy

IEA forecasts slowdown in global oil demand growth for the rest of 2025

LONDON: The International Energy Agency (IEA) said on Thursday economic headwinds combined with record sales of...

Published 15 May, 2025 02:53pm

Stocks

Energy stocks weigh on Europe’s STOXX 600; Fed’s Powell, key data on tap

European shares slipped on Thursday, dragged by energy stocks, while investors awaited key economic data and remarks...

Published 15 May, 2025 02:49pm

Technology

Trump says he’s ‘not interested’ in Apple building in India

In a statement that could be seen as a letdown to India’s manufacturing ambitions, US President Donald Trump has...

Updated 15 May, 2025 09:53pm

Bullion Rate

Gold price per tola falls Rs6,700 in Pakistan

Gold prices in Pakistan continued to fall in line with their decrease in the international market. In the local...

Updated 15 May, 2025 09:56pm

Financial

JGB yields rise under pressure from US Treasuries, weak 5-year note auction

TOKYO: Japanese government bond yields climbed to fresh highs on Thursday as they tracked a rise in U.S. peers...

Published 15 May, 2025 01:57pm

Forex

Sterling rises after UK GDP growth beats forecast in March

The pound briefly extended gains against the U.S. dollar on Thursday after data showed the British economy grew...

Published 15 May, 2025 01:50pm

Companies

UK insurer Aviva reports 9% rise in first-quarter general insurance premiums

Insurer Aviva reported a 9% rise in first-quarter general insurance premiums on Thursday on strong growth in both...

Published 15 May, 2025 01:46pm

Companies

Thyssenkrupp’s second-quarter profit plunges as tariff uncertainty hits demand

FRANKFURT/DUESSELDORF: Thyssenkrupp’s operating profit plunged in the second quarter, hurt by what the German...

Published 15 May, 2025 01:41pm

Money & Banking

RDA inflows down 25%, clock in at $177mn in April 2025

Inflows through the Roshan Digital Account (RDA) clocked in at $177 million in April, reflecting a decline of 25%...

Updated 15 May, 2025 09:54pm

Companies

Mitchell’s Fruit Farms inks SPA with CCL Holding

Mitchell’s Fruit Farms Limited (MFFL) announced on Thursday that it has entered into a Share Purchase Agreement with...

Published 15 May, 2025 12:37pm

Forex

South African rand gains, focus on upcoming Ramaphosa-Trump meeting and mining data

JOHANNESBURG: South Africa’s rand edged up against a weaker dollar in early trade on Thursday, after President Cyril...

Published 15 May, 2025 11:59am

Europe

UK economy beats forecast to grow 0.7% in first quarter

LONDON: Britain’s economy grew more than expected in the first quarter, official data showed Thursday, covering the...

Published 15 May, 2025 11:54am

Financial

India bond prices slip as declining US peers weigh on sentiment

MUMBAI: Indian government bond prices fell on Thursday, snapping a two-day rally, as U.S. peers declined, while...

Published 15 May, 2025 11:46am

Forex

Indian rupee weakens but Trump’s trade deal remark helps contain losses

MUMBAI: The Indian rupee fell on Thursday, weighed down by persistent interbank dollar demand, but pared losses...

Updated 15 May, 2025 09:43pm

Forex

China’s yuan retreats further from six-month high

HONG KONG: China’s yuan weakened against the U.S. dollar for a second straight session on Thursday, pulling away...

Published 15 May, 2025 11:40am

Companies

Allianz posts 2.1% fall in Q1 net profit but confirms 2025 target

FRANKFURT: Germany’s Allianz on Thursday posted a worse-than-expected 2.1% fall in first-quarter net profit but...

Published 15 May, 2025 11:37am

Commodities

Palm oil tracks down weaker related oils on Dalian, Chicago exchanges

JAKARTA: Malaysian palm oil futures dropped on Thursday, dragged down by weakness in vegetable oils on the Chicago...

Published 15 May, 2025 11:36am

Companies

TWF Holding acquires majority stake in ZIL Limited

TWF Holding LLC-FZ, owned by Dr Salomon Jacobus Van Rooijen, has acquired a controlling stake in ZIL Limited, a...

Published 15 May, 2025 11:34am

Commodities

London metals edge lower on caution over US-China tariff truce

SHANGHAI: Prices of most base metals in London edged lower on Thursday as the temporary U.S.-China tariff truce...

Published 15 May, 2025 11:32am

Companies

Siemens confirms growth outlook after Q2 figures beat forecasts

ZURICH: Siemens still expects to increase its full-year sales by between 3 and 7% “despite increased uncertainty”,...

Published 15 May, 2025 11:23am

Companies

Merck KGaA strikes more cautious tone on 2025 profit

FRANKFURT: German pharmaceutical and specialty materials group Merck KGaA on Thursday guided more cautiously for...

Published 15 May, 2025 11:21am

Asia

Thai consumer confidence hits 7-month low in April due to US tariffs

BANGKOK: Thai consumer confidence dropped for a third straight month in April, hitting its lowest level in seven...

Published 15 May, 2025 11:18am

Companies

RWE posts Q1 profit decline on weak trading, poor winds

FRANKFURT: Germany’s largest utility RWE on Thursday said first-quarter core earnings (adjusted EBITDA) fell by...

Published 15 May, 2025 11:16am

Commodities

Gold hits over one-month low; US PPI data in focus

Gold prices hit an over one-month low on Thursday as investors await a key U.S. inflation print for cues on the...

Published 15 May, 2025 11:12am

Companies

India’s car sales to dealers jump nearly 4% in April, industry body says

Indian automakers posted a near 4% jump in sales to dealers in April, led by strong demand for sport utility...

Updated 15 May, 2025 01:58pm

Stocks

Australia shares close higher as banks, consumer stocks rise

Australian shares ended higher on Thursday, bolstered by gains in financials and consumer stocks on hopes of a...

Updated 15 May, 2025 01:37pm

Stocks

.Japan’s Nikkei slides for second day as strong yen weighs

TOKYO: Japan’s Nikkei share average dropped for a second day on Thursday, extending its retreat from a nearly...

Updated 15 May, 2025 03:32pm

Stocks

China stocks snap three-day winning streak on weak lending data

SHANGHAI: China stocks ended lower on Thursday, snapping three days of gains, as investors digested the local...

Updated 15 May, 2025 02:50pm

Stocks

Financials drag India equity benchmarks lower as global rally pauses

India’s equity benchmarks inched lower on Thursday, dragged by high-weight financials, as a global rally driven by...

Published 15 May, 2025 10:58am

Stocks

Stocks ease, dollar wobbles as markets bide time ahead of US data

SINGAPORE: Stocks fell on Thursday while the dollar stumbled as the euphoria from market tailwinds earlier in the...

Published 15 May, 2025 10:56am

Commodities

Oil drops 3% on expectations for US-Iran nuclear deal

LONDON: Oil prices slipped on Thursday on expectations for a U.S.-Iran nuclear deal that could result in sanctions...

Updated 15 May, 2025 09:19pm

Forex

Dollar drifts as US currency policy in focus; S.Korean won jumps

TOKYO: The dollar weakened on Thursday in a turbulent week headlined by a U.S.-China tariff truce, while speculation...

Published 15 May, 2025 10:51am

Markets

Nishat Hotels & Properties seeks majority stake in Rafhan Maize

Nishat Hotels and Properties Limited, a part of Nishat Group, has expressed its intention to acquire up to 75.69%...

Published 15 May, 2025 10:37am

Exchange

Rupee posts marginal gain against US dollar

Currency settles at 281.61 against greenback in inter-bank market

Updated 15 May, 2025 06:53pm

Stocks

KSE-100 Index gains over 1% to close all-time high

Benchmark index settles at 119,962 for first time in history

Updated 15 May, 2025 09:56pm

Industry

Entrepreneurs’ Organisation launches accelerator programme in Pakistan

KARACHI: The Entrepreneurs’ Organisation (EO), the world’s leading peer-to-peer network of successful business...

Updated 15 May, 2025 08:00am

Pakistan

Economic activities: Inclusion of minorities may help achieve economic stability target

LAHORE: Punjab Minister for Minorities Affairs, Sardar Ramesh Singh Arora has said that inclusion of the minorities...

Published 15 May, 2025 06:59am

Industry

SAI chief says now time to focus on economic battle

KARACHI: Ahmed Azeem Alvi, President of the SITE Association of Industry, expressed deep gratitude for Pakistan’s...

Published 15 May, 2025 06:45am

Energy

Seven new exploration blocks: OGDCL secures provisional award

ISLAMABAD: Oil and Gas Development Company Limited (OGDCL), the country’s leading exploration and production...

Published 15 May, 2025 06:37am

Companies

Tech Accelerator: Standard Chartered Pakistan launches ‘7th Cohort of Futuremakers Women’

KARACHI: Standard Chartered Pakistan, launched the 7th Cohort of the Futuremakers Women in Tech Accelerator in...

Updated 15 May, 2025 08:03am

Industry

Lucky Cement fires kiln of its new clinker production line in Iraq

KARACHI: Lucky Cement Limited, a leading cement manufacturer, has successfully fired the kiln for its new clinker...

Published 15 May, 2025 06:28am

Energy

Oil falls after US crude inventories rise

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