News Archives for Business & Finance - 2025-05-19

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Business & Finance - 2025-05-19

Energy

India’s LNG imports to rise on higher demand from power cos, says Petronet

NEW DELHI: India’s liquefied natural gas imports are expected to rise in the coming months to meet growing...

Published 19 May, 2025 09:27pm

Companies

Nippon Steel to invest $4 billion for new US Steel mill in $14 billion package, document says

WASHINGTON: Nippon Steel plans to invest $14 billion in U.S. Steel’s operations including up to $4 billion in a new...

Published 19 May, 2025 09:14pm

Asia

China urges US to correct ‘wrongdoings’ on AI chip curb

BEIJING: China on Monday urged the United States to “immediately correct its wrongdoings” and stop “discriminatory”...

Published 19 May, 2025 09:10pm

Companies

India’s Redington posts higher quarterly profit on strong cloud demand

Redington, a distributor for Apple and Samsung in India, reported an increase in adjusted quarterly profit, driven...

Published 19 May, 2025 09:05pm

Middle East

India central bank gives Emirates NBD ‘in-principle’ nod to set up local unit

The Reserve Bank of India has given “in-principle” approval to Emirates NBD Bank PJSC to set up a wholly owned unit...

Published 19 May, 2025 09:00pm

Stocks

Wall St drops, Treasury yields rise after Moody’s downgrade

Wall Street’s main indexes slipped on Monday, with technology stocks falling as Treasury yields spiked after Moody’s...

Published 19 May, 2025 08:56pm

Money & Banking

SBP launches nationwide ‘Go Cashless’ campaign for Eid-ul-Adha

The State Bank of Pakistan (SBP) has initiated a nationwide “Go Cashless” campaign to promote digital payments and...

Updated 19 May, 2025 09:35pm

Companies

India threatens two offshore funds holding Adani shares with penalties, document shows

MUMBAI: India’s markets regulator has threatened two Mauritus-based funds with investments in the Adani Group that...

Published 19 May, 2025 07:42pm

South Asia

Six officials of India’s IndusInd Bank under investigation for insider trading, sources say

MUMBAI: India’s markets regulator is investigating six IndusInd Bank officials for insider trading to determine if...

Published 19 May, 2025 07:38pm

Companies

India plans stricter rules for companies with foreign ownership, sources say

NEW DELHI: India is planning to tighten foreign ownership rules, two sources said, in a move that may have...

Published 19 May, 2025 07:34pm

World

Pakistan, China oppose motion to invite Taiwan to WHO’s annual assembly

GENEVA: Member states of the World Health Organisation (WHO) on Monday rejected a proposal to invite Taiwan to its...

Published 19 May, 2025 07:21pm

Commodities

Wheat up 1-6 cents, corn and soybeans up 1-4 cents

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

Published 19 May, 2025 07:08pm

Money & Banking

Russia central bank says current account surplus in January-April at $21.1bn

MOSCOW: Russia’s central bank said on Monday that the current account surplus in January to April stood at $21.1...

Published 19 May, 2025 07:04pm

Companies

AMD to sell ZT Systems’ manufacturing business to Sanmina in $3 billion deal

Chipmaker AMD agreed on Monday to sell the data center infrastructure manufacturing business of recently acquired ZT...

Published 19 May, 2025 06:52pm

Money & Banking

Revolut plans $1.1 billion French expansion

PARIS: British finance company Revolut said on Monday it plans to invest 1 billion euros ($1.1 billion) over the...

Published 19 May, 2025 06:49pm

South Asia

Indian boycott of Turkish coffee, chocolates and fashion grows

MUMBAI: Small Indian grocery shops and major online fashion retailers are boycotting Turkish products ranging from...

Updated 19 May, 2025 11:11pm

Companies

Huawei launches first laptops using home-grown Harmony operating system

BEIJING: Huawei launched two new laptop models on Monday, the first sold with its own Harmony operating system, in a...

Published 19 May, 2025 06:28pm

Money & Banking

JPMorgan says interest income could rise this year even as uncertainty persists

NEW YORK: JPMorgan Chase said on Monday that it could earn more from interest payments this year despite significant...

Published 19 May, 2025 06:21pm

USA

Fed’s Williams says monetary policy is in good place right now

NEW YORK: Federal Reserve Bank of New York President John Williams said on Monday that central bank interest rate...

Published 19 May, 2025 06:16pm

Companies

Volkswagen weighs plan to sell or find partner for Italdesign

MILAN: Volkswagen is considering a plan to divest from its design and engineering unit Italdesign, union...

Published 19 May, 2025 06:13pm

Money & Banking

India central bank proposes easier rules for lenders’ investments in AIFs

MUMBAI: India’s central bank on Monday proposed more liberal rules governing investments by lenders in Alternative...

Published 19 May, 2025 05:39pm

Energy

EU likely to propose to G7 to lower price cap on Russian oil to $50 per barrel

BRUSSELS: The European Union will propose to G7 finance ministers this week to lower the current $60 per barrel...

Published 19 May, 2025 05:36pm

Companies

Ryanair CEO calls for ‘aggressive’ post-war discounts from Ukraine airports

DUBLIN: Ryanair Chief Executive Michael O’Leary on Monday called on Ukraine’s airports to offer “aggressive...

Published 19 May, 2025 05:33pm

Commodities

Aluminium falls as available stocks jump and Chinese supply rises

LONDON: Aluminium prices fell on Monday after a jump in available stocks in warehouses registered with the London...

Published 19 May, 2025 05:30pm

Stocks

Communication services lift Sri Lanka shares

CSE All Share index settled up 0.11% at 16,397.68

Published 19 May, 2025 04:43pm

Bullion Rate

Gold price per tola gains Rs4,000 in Pakistan

Gold prices in Pakistan continued to grow in line with their increase in the international market o Monday. In the...

Updated 19 May, 2025 04:59pm

Stocks

Indian benchmark indexes drop as US downgrade hits IT stocks; broader market up on rate cut hopes

India’s equity benchmark indexes inched lower on Monday, in tandem with global stocks, after Moody’s lowered its...

Published 19 May, 2025 04:07pm

Commodities

Palm snaps two-session losing run on stronger soyoil

KUALA LUMPUR: Malaysian palm oil futures closed higher on Monday, snapping two consecutivesessions of declines,...

Published 19 May, 2025 04:04pm

Business & Finance

Youm-e-Takbeer: PSX to remain closed on May 28

The Pakistan Stock Exchange Limited (PSX) will remain closed on Wednesday, May 28, 2025. “All concerned are hereby...

Published 19 May, 2025 03:37pm

Forex

Kenyan shilling flat against dollar, LSEG data shows

The shilling traded at 129.00/129.40 per dollar

Published 19 May, 2025 03:33pm

Forex

Ugandan shilling little-changed on easing FX demand

Commercial banks quoted the shilling at 3,652/3,662

Published 19 May, 2025 03:30pm

Business & Finance

Toyota Industries to accept Toyota group offer, Kyodo says

TOKYO: Toyota Industries Corp plans to accept a tender offer by Toyota Motor Corp, the automaker’s Chairman Akio...

Published 19 May, 2025 03:27pm

Business & Economy

Trump tariffs to ‘weigh on’ Pakistan’s economy, says IMF

The International Monetary Fund (IMF) has cautioned that the recent reciprocal tariffs imposed by US President...

Updated 19 May, 2025 07:58pm

Companies

SME Bank Limited approves action plan for winding down SME Leasing

The Board of Directors of SME Bank Limited has approved the action plan for winding down of SME Leasing. “While...

Published 19 May, 2025 02:28pm

Energy

First LNG ship bunkering hub in US Gulf Coast secures permits to start work

LONDON: A joint venture project developing the first marine fuel facility for liquefied natural gas in the US Gulf...

Published 19 May, 2025 01:21pm

Business & Finance

Qatar Airways posts 28% jump in net profit to record $2.1 billion

DOHA: Qatar Airways posted a 28% jump in annual net profit to a record 7.8 billion Qatari riyals ($2.1 billion),...

Published 19 May, 2025 01:03pm

Stocks

European stocks slip as US credit downgrade, China data weigh

European stocks dipped on Monday, snapping a five-week winning streak, as a surprise US credit rating downgrade and...

Published 19 May, 2025 01:02pm

Mutual Funds

Euro zone government bond yields edge up, taking cues from US Treasuries

Euro zone government bond yields edged up on Monday, taking cues from US Treasuries as a Moody’s downgrade of the US...

Published 19 May, 2025 01:01pm

Technology

Swedish firm Vopy to roll out payment service for Pakistani freelancers

Vopy, a portfolio company of Swedish investment firm Front Ventures, has secured a verbal order from a major digital...

Updated 19 May, 2025 07:57pm

Business & Finance

Raqami, Pakistan’s first digital Islamic retail bank awarded restricted license by SBP to commence pilot operations

Raqami Islamic Digital Bank Limited has been awarded a restricted banking license by State Bank of Pakistan under...

Published 19 May, 2025 12:37pm

Business & Finance

Trump tax bill passes key panel to advance in US Congress

WASHINGTON: US President Donald Trump’s sweeping tax-cut bill, which had been stalled for days by Republican...

Published 19 May, 2025 12:16pm

Business & Finance

Ryanair would expect Boeing to honour contract price if EU imposes tariffs

DUBLIN: Ryanair would expect Boeing to honour the agreed prices on current aircraft orders even if the European...

Published 19 May, 2025 12:02pm

Business & Finance

China’s factory output resists tariff impact, retail sales slow

BEIJING: China’s factory output slowed in April but showed surprising resilience, a sign that government support...

Published 19 May, 2025 11:54am

Stocks

South Korean shares fall on market volatility sparked by US credit downgrade

SEOUL: Round-up of South Korean financial markets: South Korean shares fell 1% on Monday as a downgrade in US credit...

Published 19 May, 2025 11:53am

Business & Finance

Thai Q1 GDP growth beats expectations, but full-year forecast cut

BANGKOK: Thailand’s economy grew more than expected in the first quarter of 2025, data showed on Monday, but the...

Published 19 May, 2025 11:52am

Business & Finance

BOJ to keep hiking rates if economy rebounds from tariff hit, deputy governor says

TOKYO: The Bank of Japan will continue to raise interest rates if the economy rebounds from an expected hit from...

Published 19 May, 2025 11:51am

Energy

China’s April refinery output fell 1.4% year-on-year

China’s crude oil throughput fell in April from a year earlier, official data showed on Monday, due to maintenance...

Published 19 May, 2025 11:50am

Forex

Hong Kong dollar falls to near one-year low on flush cash conditions

SHANGHAI: Hong Kong dollar weakened to a near one-year low against the US dollar on Monday, pressured by flush local...

Published 19 May, 2025 11:44am

Forex

Asia FX mixed; ringgit extends decline on weak growth outlook

The Malaysian ringgit extended losses on Monday after the central bank lowered its annual growth forecast, while...

Published 19 May, 2025 11:41am

Forex

Australian dollar braces for RBA decision, kiwi awaits more fiscal pain

SYDNEY: The Australian dollar was bracing for a central bank policy meeting where a quarter-point cut has been...

Published 19 May, 2025 11:40am

Mutual Funds

JGB yields rise, tracking Treasury peers after Moody’s US downgrade

TOKYO: Japanese government bond (JGB) yields rose on Monday, tracking a surge in US Treasury yields after ratings...

Published 19 May, 2025 11:35am

Mutual Funds

Philippines awards $448mn T-bill offer

Tenders total 78.4 billion pesos

Published 19 May, 2025 11:34am

Technology

Xiaomi to invest at least $6.9 billion in chip design, founder says

BEIJING: Chinese smartphone and electric vehicle maker Xiaomi said on Monday it plans to invest at least 50 billion...

Published 19 May, 2025 11:32am

Bullion Rate

Gold rises as soft dollar, Trump’s tariff threats spur safe-haven demand

Gold prices climbed on Monday as a softer dollar and renewed trade tensions, following US Treasury Secretary Scott...

Published 19 May, 2025 11:30am

Stocks

China, Hong Kong stocks sag on soft data despite tariff truce lift

SHANGHAI: China and Hong Kong stocks sagged on Monday, as weak local data on industrial and retail sales highlighted...

Published 19 May, 2025 11:29am

Real Estate

China struggles to lift home prices as April shows no growth

BEIJING: China’s new home prices were unchanged in April from a month earlier for a second month, official data...

Published 19 May, 2025 11:27am

Commodities

Palm up on stronger rival soyoil, weaker ringgit

KUALA LUMPUR: Malaysian palm oil futures opened higher on Monday, snapping two consecutive sessions of declines,...

Published 19 May, 2025 11:21am

Mutual Funds

India bond yields consolidate after previous week’s sharp decline

MUMBAI: Indian government bond yields were largely unchanged in early deals on Monday after a sharp decline last...

Published 19 May, 2025 11:20am

Stocks

Japan’s Nikkei falls as US credit downgrade spurs asset jitters, lifts yen

TOKYO: Japan’s Nikkei share average dropped on Monday after Moody’s downgrade of the US government credit rating...

Published 19 May, 2025 11:18am

Technology

Nvidia plans to sell tech to speed AI chip communication

TAIPEI: Nvidia said on Monday it plans to sell a technology to others that will tie chips together in order to speed...

Published 19 May, 2025 11:16am

Commodities

Iron ore falls on muted China economic data

SINGAPORE: Iron ore futures prices fell on Monday, pressured by tepid economic data from top consumer China and...

Published 19 May, 2025 11:15am

Forex

China’s yuan slips on weaker-than-expected activity data, corporate dollar demand

SHANGHAI: China’s yuan slipped against the dollar on Monday, pressured by some weaker-than-expected data on economic...

Published 19 May, 2025 11:14am

Commodities

Soybean prices rebound, improved US weather limits upside

SINGAPORE: Chicago soybean futures edged higher on Monday, with prices rising for the first time in three sessions...

Published 19 May, 2025 11:13am

Commodities

London copper eases on China demand concerns after weak data

NEW DELHI: Copper prices in London edged lower on Monday, giving up early gains, following concerns over the demand...

Published 19 May, 2025 11:11am

Stocks

Australian shares dip ahead of central bank’s rate decision

Australian shares slipped on Monday, as losses in banks and miners offset strong performances by gold stocks, ahead...

Published 19 May, 2025 11:06am

Companies

Ferozsons mulls buying Barrett Hodgson Pakistan with local consortium

Ferozsons Laboratories Limited (FEROZ) is considering acquiring Barrett Hodgson Pakistan Pvt. Limited, a...

Published 19 May, 2025 10:35am

Currency

Rupee slips lower against US dollar

Currency settles at 281.77 against greenback

Updated 19 May, 2025 06:35pm

Stocks

KSE-100 Index closes flat after mixed trading

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

Updated 19 May, 2025 11:11pm

Stocks

Indian share benchmarks set for muted start after US rating downgrade

India’s equity benchmark indexes are likely to open little changed on Monday, as global investor sentiment was...

Published 19 May, 2025 08:16am

Forex

Indian rupee seen little changed; traders eye flows, US-India trade talk updates, yuan

MUMBAI: The Indian rupee may open little changed on Monday, with traders watching flows, updates on the U.S.-India...

Published 19 May, 2025 08:13am

Bullion Rate

Gold rises as soft dollar, Trump’s tariff threats spur safe-haven demand

Gold prices climbed on Monday as a softer dollar and renewed trade tensions — following U.S. Treasury Secretary...

Published 19 May, 2025 07:50am

Forex

Dollar edges lower after US credit downgrade, Aussie pares losses before RBA

TOKYO: The U.S. dollar trimmed a four-week gain in early Asian trade as markets digested a surprise downgrade of the...

Published 19 May, 2025 07:40am

Stocks

Asia shares slip on mixed China data, drop in Wall St futures

SYDNEY: Asian shares slipped on Monday as a mixed bag of Chinese economic data showed the domestic economy was...

Published 19 May, 2025 07:36am

Business & Finance

NA panel seeks information on petrol margins

ISLAMABAD: National Assembly Standing Committee on Petroleum has directed Oil and Gas Regulatory Authority (OGRA) to...