News Archives for Business & Finance - 2025-05-16

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Business & Finance - 2025-05-16

Business & Finance

US freight industry hopes for back-to-school demand boost after tariff truce

A 90-day trade thaw between Washington and Beijing could prove to be a welcome reprieve for the U.S. freight...

Published 16 May, 2025 09:34pm

Commodities

Wheat down 1-2 cents, corn mixed, soybeans down 1-4

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

Published 16 May, 2025 08:12pm

South Asia

India’s IREDA files second bankruptcy case against Gensol Engineering

The Indian Renewable Energy Development Agency said on Friday it had filed a bankruptcy application against Gensol...

Published 16 May, 2025 07:56pm

Stocks

Wall Street flat; set for strong weekly gains on trade optimism

Wall Street’s main indexes were subdued on Friday, but were still on track for robust weekly gains buoyed by a...

Published 16 May, 2025 07:49pm

Forex

South African rand eases from five-month high

JOHANNESBURG: South Africa’s rand eased from its strongest level in five months on Friday, a dayafter a minister...

Published 16 May, 2025 07:43pm

Stocks

KSE-100 closes 313 points lower as late-session selling erases earlier gains

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

Published 16 May, 2025 07:23pm

Stocks

Dubai and Abu Dhabi end week in positive territory as Trump wraps Gulf tour

Dubai’s main share index rose to a record high on Friday, settling up 1.05%, as a slew of business deals between the...

Published 16 May, 2025 06:09pm

Energy

Global LNG: Asian spot LNG prices rise slightly on US-China tariff truce

LONDON: Asian spot liquefied natural gas (LNG) prices rose slightly for the second week running amid a slight uptick...

Published 16 May, 2025 06:02pm

Companies

Nvidia seeks Shanghai R&D site after US chip curbs

HONG KONG: Nvidia is seeking a site in Shanghai for a research and development centre, three sources close to the...

Published 16 May, 2025 05:59pm

Forex

India’s forex reserves hit seven-month peak

MUMBAI: India’s foreign exchange reserves rose by $4.5 billion to hit a seven month-peak of $690.6 billion as of May...

Published 16 May, 2025 05:38pm

Industry

CDWP clears development projects worth Rs15.9bn, refers Rs127bn schemes to ECNEC

The Central Development Working Party (CDWP) on Friday approved ten development projects, five of which, worth...

Published 16 May, 2025 05:16pm

Companies

Hyundai India aims for 7%-8% annual exports growth after quarterly profit beat

Hyundai Motor India said on Friday it expects exports to grow 7%–8% in the fiscal year to March 2026, after a 14%...

Published 16 May, 2025 05:13pm

Commodities

Chicago soyoil extends slide on biofuel doubts, soybeans steady

BEIJING/PARIS: Chicago soyoil futures extended losses on Friday after plunging by their daily limit in the previous...

Published 16 May, 2025 05:01pm

Stocks

Indian shares log weekly gains on ceasefire with Pakistan, US deal hopes

India’s benchmark equity indexes posted a weekly rise as investors cheered a truce with Pakistan, trade talks with...

Published 16 May, 2025 04:55pm

Stocks

Sri Lankan shares gain for the sixth straight week

Sri Lankan shares rose on Friday to end the sixth successive week with gains, as communication services stocks...

Published 16 May, 2025 04:52pm

Commodities

Demand concerns push copper prices lower

LONDON: Copper prices fell for the second session on Friday as softer demand from price-sensitive consumers such as...

Published 16 May, 2025 04:49pm

Commodities

Palm ends with third straight weekly loss

JAKARTA: Malaysian palm oil futures fell on Friday and posted their third straight weekly losses, weighed down by...

Published 16 May, 2025 04:46pm

Commodities

Gold price per tola gains Rs900 in Pakistan

Gold prices in Pakistan increased in line with their gain in the international market. In the local market on...

Published 16 May, 2025 04:32pm

Companies

Pakistan textile manufacturer to establish IT/EV Division as secondary business

Says textile business to remain the principal business

Published 16 May, 2025 03:25pm

Stocks

Europe’s STOXX 600 set for fifth straight weekly rise

European shares extended gains on Friday, supported by healthcare stocks, and were on track to end the week in...

Published 16 May, 2025 03:06pm

Business & Economy

Pakistan “restructuring and reorganising” its debt, says Aurangzeb

Pakistan is in the process of “restructuring and reorganising” its debt profile in line with global standards, said...

Updated 16 May, 2025 05:21pm

Business & Economy

National Tariff Policy: govt approves phased elimination of import duties

In a bid to attract investment and promote exports, the federal government on Friday decided to significantly...

Updated 16 May, 2025 05:36pm

Companies

Sapphire Fibres Limited seeks majority stake in Rafhan Maize

Sapphire Fibres Limited has expressed its intention to acquire up to 6,991,052 voting shares (representing 75.69% of...

Published 16 May, 2025 12:22pm

Business & Economy

Pakistan’s REER index clocks in at 99.42 in April 2025

Pakistan’s Real Effective Exchange Rate (REER), a measure of the value of a currency against a weighted average of...

Published 16 May, 2025 12:17pm

Business & Finance

Goldman Sachs raises forecast for Asian equities on easing trade tension

SINGAPORE: Goldman Sachs raised its 12-month price target for Asian equities on Friday, citing a better growth...

Published 16 May, 2025 11:57am

Stocks

South Korea stocks set for fifth week of gains

The benchmark KOSPI added 1.31 points, or 0.05%, to 2,622.67

Published 16 May, 2025 11:55am

Business & Finance

ECB’s Villeroy: Volatility reflects trade wars, not currency wars

PARIS: European Central Bank policymaker Francois Villeroy de Galhau said economic and market volatility reflected...

Published 16 May, 2025 11:48am

Business & Finance

US recession no longer likely after trade truce, says Barclays

LONDON: Barclays no longer expects the US economy to slip into a recession later this year and has revised up its...

Published 16 May, 2025 11:47am

Business & Finance

Budget 2025-26: KCCI urges govt to expand tax net, targets 4.6mn unregistered entities

Frustrated by the rising tax burden on already compliant businesses, Pakistan’s business community has called on the...

Published 16 May, 2025 11:47am

Commodities

Copper prices set for weekly gain on US-China trade optimism

SINGAPORE: Copper prices inched higher on Friday and were on track to end the week in positive territory, supported...

Published 16 May, 2025 11:37am

Stocks

China, HK stocks fall with earnings, US tech restrictions in focus

HONG KONG: Chinese and Hong Kong stocks extended their losses on Friday, as market sentiment came under pressure...

Published 16 May, 2025 11:36am

Forex

China’s yuan firms on better sentiment, currency guidance eyed

SHANGHAI: China’s yuan firmed against the US dollar on Friday, underpinned by a broadly weaker greenback and...

Published 16 May, 2025 11:35am

Business & Finance

Singtel sells 1.2% stake in India’s Bharti Airtel for $1.54 billion

Singapore Telecommunications said on Friday it had sold around 1.2% of its stake in India’s Bharti Airtel for S$2...

Published 16 May, 2025 11:12am

Business & Economy

Pakistan’s current account posts $12mn surplus in April 2025

On YoY basis, C/A decreases 96% against $315 million surplus in same month last year

Updated 16 May, 2025 09:58pm

Energy

UAE’s Fujairah marine fuel sales hit over a year’s high in April

SINGAPORE: Marine fuel sales at the United Arab Emirates’ Fujairah port reached more than a year’s high in April,...

Published 16 May, 2025 11:00am

Business & Finance

Malaysia’s economy grows 4.4% in Q1

KUALA LUMPUR: Malaysia’s economy grew 4.4% in the first quarter of 2025 from a year earlier, below market...

Published 16 May, 2025 10:58am

Business & Finance

Malaysia’s current account surplus expands to $3.92 billion in Q1

KUALA LUMPUR: Malaysia’s current account surplus expanded to 16.7 billion ringgit ($3.92 billion) in the first...

Published 16 May, 2025 10:57am

Business & Finance

Fitch puts Taiwan life insurers on downgrade watch after currency surge

TOKYO: Credit ratings agency Fitch on Thursday placed five Taiwanese life insurers under review for potential...

Published 16 May, 2025 10:55am

Forex

Australia, NZ dollars steady after seesaw week, rate cuts loom

SYDNEY: The Australian and New Zealand dollars were flat on Friday after a seesaw week that saw them spike on a...

Published 16 May, 2025 10:53am

Stocks

Australia shares hit over two-month high, RBA rate decision in focus

Australian shares jumped to an over two-month high on Friday, led by gains in banks and miners, ahead of the Reserve...

Published 16 May, 2025 10:52am

Mutual Funds

India bond yields to dip tracking US peers ahead of debt sale

MUMBAI: Indian government bond yields are expected to edge lower in early trades on Friday, mirroring a decline in...

Published 16 May, 2025 10:51am

Business & Finance

Palm falls for a second session but set to log first weekly gain in three

JAKARTA: Malaysian palm oil futures fell for a second session on Friday, tracking weakness in vegetable oils in the...

Published 16 May, 2025 10:50am

Money & Banking

Pakistan issues Rs30bn Green Sukuk to fund renewable projects

Sukuk reflects growing investor confidence in Pakistan’s economy, says Aurangzeb

Published 16 May, 2025 10:49am

Business & Finance

New Zealand inflation expectations rise in Q2, central bank survey shows

SYDNEY: New Zealand’s inflation expectations rose in the second quarter to its highest in a year, a Reserve Bank of...

Published 16 May, 2025 10:47am

Stocks

Japanese shares fall on stronger yen

TOKYO: Japanese shares fell on Friday, weighed down by a stronger yen, while investors took a cautious stance after...

Published 16 May, 2025 10:45am

Commodities

Iron ore eases on falling near-term demand, but heads for weekly gain

BEIJING: Iron ore futures prices slid on Friday on signs of softening near-term demand and growing caution over the...

Published 16 May, 2025 10:41am

Commodities

Chicago soybeans set for first weekly gain in three on demand prospects

BEIJING: Chicago soybean futures are set for a weekly gain on Friday after two straight weeks of decline, as a...

Published 16 May, 2025 10:40am

Commodities

Japan to release more rice from stockpiles to tackle shortage and rein in prices

TOKYO: Japan said on Friday it would release another 300,000 metric tons of rice from its emergency stockpile...

Published 16 May, 2025 10:39am

Stocks

Rupee registers marginal decline against US dollar

Local currency settles at 281.66 against greenback in inter-bank market

Updated 16 May, 2025 06:32pm

Business & Finance

RBA to lower key rate by 25 bps on May 20, two more cuts likely this year

BENGALURU: The Reserve Bank of Australia will cut its key rate by 25 basis points on Tuesday and twice more this...

Published 16 May, 2025 08:25am

Forex

Indian rupee set to rise after soft US data boosts Fed rate cut odds

MUMBAI: The Indian rupee is expected to strengthen at open on Friday, buoyed by widespread U.S. dollar weakness...

Published 16 May, 2025 08:21am

Bullion Rate

Gold set for worst week in six months as trade calm dents appeal

Gold prices eased on Friday and were poised for their steepest weekly decline in six months, as a stronger dollar...

Published 16 May, 2025 08:08am

Stocks

Indian shares set to rise as progress in trade talks with US aid sentiment

India’s benchmark indexes are set to open higher on Friday, as progress in trade negotiations with the United States...

Published 16 May, 2025 08:04am

Business & Finance

Japan’s economy shrinks more than expected as US tariff hit looms

TOKYO: Japan’s economy shrank for the first time in a year in the March quarter at a faster pace than expected, data...

Published 16 May, 2025 07:55am

Energy

Oil heads for weekly gain but remains under supply hike pressure

Brent crude futures were up 29 cents, or 0.5%, at $64.82 per barrel

Updated 16 May, 2025 04:58pm

Forex

Dollar tracks Treasury yields lower on benign US data

SINGAPORE: The dollar fell in tandem with U.S. Treasury yields on Friday after downside surprises on U.S. economic...

Published 16 May, 2025 07:45am

Stocks

Asian shares set to end strong week on soft note, bonds enjoy relief rally

SYDNEY: Asian stocks were ending a strong week on a softer note on Friday as the euphoria over U.S.-China trade...

Published 16 May, 2025 07:42am

Companies

Rehan appointed L’Oréal Pakistan CEO

KARACHI: L’Oréal Groupe, a global leader in beauty and innovation, has announced the appointment of Rehan Saeed ...