News Archives for Business & Finance - 2025-05-20

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Business & Finance - 2025-05-20

Business & Finance

India’s Leela hotels owner Schloss slashes IPO size by 30%

Schloss Bangalore, the owner of Leela luxury hotels, has slashed its IPO size by 30% to 35 billion rupees ($409...

Published 20 May, 2025 10:01pm

Taxes

Improving tax-to-GDP ratio crucial to ease Pakistan debt burden: FBR official

Federal Board of Revenue (FBR) chief commissioner Aftab Alam said on Tuesday improving tax-to-GDP ratio was...

Published 20 May, 2025 09:18pm

Markets

Net-metering connections: govt plans to digitalise process with new online portal

The government is planning to “simplify and digitalise” the process of applications for new net-metering connections...

Published 20 May, 2025 08:34pm

Taxes

National Targeting System being introduced to prevent sales tax evasion, PM told

PM Shehbaz says individuals, businesses involved in tax evasion do not deserve any leniency

Updated 20 May, 2025 11:26pm

Bullion Rate

Gold price per tola gains Rs300 in Pakistan

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

Published 20 May, 2025 06:28pm

Companies

‘Global Islamic finance assets to surpass $7.5trn by 2028’

Standard Chartered on Tuesday released a report ‘Islamic Banking for Financial Institutions: Unlocking Growth Amidst...

Published 20 May, 2025 05:59pm

Business & Economy

Pakistan’s GDP grows 2.4% in Jan-Mar: NAC

Provisional GDP growth rate for FY25 is 2.68%, below target of 3.6% set by govt

Updated 20 May, 2025 11:34pm

Business & Economy

SBP Governor calls for Sukuk push

At the National Islamic Economic Forum 2025 in Karachi, State Bank of Pakistan (SBP) Governor Jameel Ahmad outlined...

Published 20 May, 2025 02:42pm

Business & Finance

IMF begins new review of war-torn Ukraine’s $15.5 billion loan

KYIV: An International Monetary Fund monitoring mission started a new review of its $15.5 billion program to Ukraine...

Published 20 May, 2025 02:35pm

Business & Finance

BoE’s Pill views quarterly pace of rate cuts as ‘too rapid’

LONDON: Bank of England Chief Economist Huw Pill said on Tuesday he thought a quarterly pace of interest rate cuts...

Published 20 May, 2025 02:27pm

Stocks

Most Gulf indexes rise, Dubai benchmark hits record high

Most Gulf bourses inched higher early on Tuesday, with Dubai’s main share index hitting a record high on optimism...

Published 20 May, 2025 02:25pm

Forex

South African rand steady ahead of budget, US meeting

JOHANNESBURG: South Africa’s rand was steady on Tuesday, as investor focus turned towards this week’s budget speech...

Published 20 May, 2025 02:21pm

Forex

Ugandan shilling firms slightly on commodity inflows

KAMPALA: The Ugandan shilling firmed slightly on Tuesday, underpinned by healthy hard currency inflows from...

Published 20 May, 2025 02:19pm

Budgets

Budget 2025–26 to kick off first phase of National Tariff Policy 2025–30

The first phase of the government reduction plan to lower import duties under the National Tariff Policy 2025-30...

Published 20 May, 2025 02:02pm

Business & Finance

After military tech success, China seeks to electrify Pakistan’s mobility sector

With much-lauded success in the defence sector, perception about Chinese products, including EVS, is likely to improve

Published 20 May, 2025 02:00pm

Stocks

European shares inch higher, supported by utilities and telecom

European stocks edged up on Tuesday, with utilities and telecom firms leading gains as investors awaited updates on...

Published 20 May, 2025 12:50pm

Business & Finance

Pakistan’s tobacco exporters urge competitive tax model, cite challenges for smaller firms

Pakistan tobacco exporters have warned that the current tax structure ‘poses a challenge’, especially for smaller...

Published 20 May, 2025 12:02pm

Companies

Apple supplier Foxconn to invest $1.5 billion in India unit

Apple supplier Foxconn will invest 1.5 billion rupees in its India unit, the company said in a filing, as the iPhone...

Updated 20 May, 2025 05:37pm

Energy

WGC-TotalEnergies CEO will propose lifting force majeure on Mozambique LNG project

BEIJING: TotalEnergies plans to propose to the Mozambique government to lift the force majeure on its liquefied...

Published 20 May, 2025 11:48am

Business & Finance

Indonesia expects 2026 GDP growth of between 5.2%-5.8%

JAKARTA: Indonesia’s government expects economic growth in 2026 to be between 5.2% and 5.8%, while the budget...

Published 20 May, 2025 11:42am

Companies

Samba Bank appoints Rashid Jahangir as acting president & CEO

The Board of Directors of Samba Bank Limited (SBL) has approved the appointment of Rashid Jahangir as acting...

Published 20 May, 2025 11:41am

Forex

Australia dollar slips as RBA cuts rates, warns on global outlook

SYDNEY: The Australian dollar slipped on Tuesday after the country’s central bank cut interest rates as expected...

Published 20 May, 2025 11:40am

Business & Finance

Japan’s Honda to scale back on electric vehicles, concentrate on hybrids

TOKYO: Honda Motor said on Tuesday that it was scaling back its investment in electric vehicles given slowing demand...

Published 20 May, 2025 11:39am

Stocks

Japan’s Nikkei rises on resilient Wall Street, pause in yen rally

TOKYO: Japan’s Nikkei share average rose on Tuesday, with a pause in the yen’s rally supporting automakers and other...

Published 20 May, 2025 11:37am

Mutual Funds

Indian bond yields seen moving with an upside bias

MUMBAI: Indian government bond yields are expected to open with a marginal upside bias on Tuesday, a day after the...

Published 20 May, 2025 11:36am

Energy

China’s crude oil imports from Russia fall in April; imports from Malaysia surge

China’s imports of crude oil from Russia fell 12.9% in April from a year earlier, coming in at 8.07 million metric...

Published 20 May, 2025 11:35am

Commodities

China April soy imports from Brazil fall 22.2% vs year earlier

BEIJING: China’s soybean imports from Brazil fell 22.2% in April from a year earlier, data showed on Tuesday, as...

Published 20 May, 2025 11:33am

Commodities

China’s coal imports from Russia drop amid shift to domestic coal

BEIJING: China’s coal imports from Russia fell 13% in April from the same month last year to 7.397 million metric...

Published 20 May, 2025 11:31am

Stocks

Miners, banks lead Australian shares higher ahead of RBA rate decision

Australian shares climbed on Tuesday, driven by broad-based gains in mining stocks and banks, as investors awaited...

Published 20 May, 2025 11:28am

Commodities

Wheat slips on expectations of strong US production

CANBERRA: Chicago wheat futures edged lower on Tuesday as expectations of a large harvest in the United States held...

Published 20 May, 2025 11:27am

Stocks

China, HK stocks rise as rate cut boosts sentiment

HONG KONG: China and Hong Kong stocks rose broadly on Tuesday, led by healthcare and consumer shares, as market...

Published 20 May, 2025 11:26am

Energy

Saudi poised to increase summer crude burn for power as fuel oil becomes costly

SINGAPORE: Saudi Arabia is expected to burn more crude oil for power generation this summer than last as it ramps up...

Published 20 May, 2025 11:24am

Business & Finance

Australia’s central bank cuts rates to two-year low of 3.85%

SYDNEY: Australia’s central bank on Tuesday cut its main cash rate by 25 basis points to a two-year low of 3.85%...

Published 20 May, 2025 11:22am

Mutual Funds

Japan’s bond yields jump after poor outcome of 20-year debt auction

TOKYO: Japanese government bond yields jumped on Tuesday as investors sold the securities after poor results at an...

Published 20 May, 2025 11:20am

Technology

Xiaomi has started mass producing self-developed Xring O1 chip

SHANGHAI: Xiaomi’s founder Lei Jun said on Tuesday that the company has started mass production of its...

Published 20 May, 2025 11:19am

Commodities

Iron ore rangebound as traders gauge resilient demand, soft China data

SINGAPORE: Iron ore futures prices traded within a thin range on Tuesday, as investors weighed resilient near-term...

Published 20 May, 2025 11:18am

Commodities

London copper edges lower as tariff uncertainty lingers

NEW DELHI: Copper prices in London were slightly lower on Tuesday amid fading enthusiasm over the 90-day tariff...

Published 20 May, 2025 11:17am

Stocks

South Korean shares track Wall Street higher; battery makers fall

The benchmark KOSPI was up 8.80 points, or 0.34%, at 2,612.22

Published 20 May, 2025 11:16am

Technology

Taiwan’s Foxconn says AI data centre with Nvidia to have 100 MW of power

TAIPEI: Taiwan’s Foxconn, the world’s largest contract electronics maker, said on Tuesday an artificial intelligence...

Published 20 May, 2025 11:13am

Commodities

Palm rises on stronger rival Dalian oils, weaker ringgit

KUALA LUMPUR: Malaysian palm oil futures opened higher for a second consecutive session on Tuesday, supported by...

Published 20 May, 2025 11:11am

Energy

NEPRA approves KAPCO’s tripartite power agreement

The National Electric Power Regulatory Authority (NEPRA) has approved a tripartite agreement between Central Power...

Published 20 May, 2025 10:51am

Currency

Rupee slips lower against US dollar

Currency settles at 281.92 against greenback

Updated 20 May, 2025 07:09pm

Stocks

KSE-100 sheds over 700 points amid budget concerns

The Pakistan Stock Exchange (PSX) witnessed a negative session on Tuesday, as its benchmark KSE-100 Index closed...

Updated 20 May, 2025 07:42pm

Forex

Indian rupee slips along with local stocks and Chinese yuan even as dollar softens

MUMBAI: The Indian rupee weakened on Tuesday as dollar bids from foreign banks, likely on behalf of custodial...

Updated 20 May, 2025 10:11pm

Stocks

Financials, IT lead slide in Indian equities on likely foreign outflows

India’s benchmark indexes dropped about 1% on Tuesday as the heavyweight financials and information technology...

Updated 20 May, 2025 10:08pm

Business & Finance

China cuts key rates to aid economy as trade war simmers

BEIJING: China cut benchmark lending rates for the first time since October on Tuesday, while major state banks...

Published 20 May, 2025 08:01am

Technology

Subaru of America increases vehicle prices, citing market conditions

DETROIT: Subaru of America is hiking prices on several models, the company said on Monday, the latest automaker to...

Published 20 May, 2025 07:57am

Bullion Rate

Gold eases as Russia-Ukraine ceasefire optimism curbs safe-haven demand

Gold prices eased on Tuesday, as a slightly firmer dollar and optimism over a potential ceasefire between Russia and...

Published 20 May, 2025 07:53am

Energy

Oil steadies as market assesses US-Iran talks, demand signals

LONDON: Oil prices steadied on Tuesday due to uncertainty in U.S.-Iran negotiations and Russia-Ukraine peace talks,...

Updated 20 May, 2025 05:25pm

Forex

Dollar trades sideways before tax vote, Aussie holds gain before RBA

TOKYO: The dollar traded sideways on Tuesday after having glided lower for a week, hemmed in by the Fed’s caution...

Published 20 May, 2025 07:46am

Stocks

Asian stocks rise as traders weigh US debt, trade deals

SINGAPORE: Asian stocks rose on Tuesday while U.S. Treasury yields steadied allowing a bit of a breathing room for...

Published 20 May, 2025 07:42am

Money & Banking

Pakistan FM Aurangzeb holds virtual meetings with UAE banks

ISLAMABAD: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb on Monday underscored commitment to...

Updated 20 May, 2025 08:57am

Industry

‘High tax on packaged juices stifles growth, hurts economy’

LAHORE: The formal packaged juice industry in Pakistan continues to reel under the weight of an excessive 20% ...

Published 20 May, 2025 07:21am

Industry

Pakistan’s textile industry deterioration: Govt has failed to address ‘fatal’ anomaly in EFS

LAHORE: Pakistan’s textile industry is rapidly deteriorating as, for over 10 months now, the government has failed...

Updated 20 May, 2025 09:20am

Industry

GCSI-TDAP delegation visits LCCI

LAHORE: A seven-member delegation from the UK Government Communication Service International (GCSI) and the Trade...

Published 20 May, 2025 07:15am

Industry

TP-1, TP-3: SAI team witnesses KWSC’s recycled water initiative

KARACHI: A delegation from the SITE Association of Industry (SAI), led by its President Ahmed Azeem Alvi, visited ...

Published 20 May, 2025 07:15am

Industry

Vohra urges KCCI to share proposals for Federal Budget

KARACHI: Member National Assembly (MNA) Arshad Abdullah Vohra has called on the Karachi Chamber of Commerce and...

Published 20 May, 2025 07:12am

Industry

US consulate economic unit chief visits TDAP

KARACHI: The USA Consulate Karachi, Economic Unit Chief, Kevin Furey and Tyrell Walker, Economic Officer, along with...

Published 20 May, 2025 07:09am

Money & Banking

National Bank of Pakistan advances technology to power smarter banking solutions

KARACHI: In pursuit of innovation and excellence in customer service, National Bank of Pakistan (NBP) has...

Updated 20 May, 2025 09:36am

Business & Finance

Cattle markets in Pakistan: State Bank launches ‘go cashless’ campaign

KARACHI: The State Bank of Pakistan (SBP) has initiated a nationwide “go cashless” campaign to promote digital...

Updated 20 May, 2025 09:21am

Business & Finance

Pakistani brands at Dubai Baby Expo set sight on expansion

Baby Expo featured over 250 global brands from the maternity, baby and toddler space

Updated 20 May, 2025 01:30pm

Pakistan

Sharjeel, Nasir visit Chery Holdings Group’s HQs

WUHU, (China): Sindh Senior Minister Sharjeel Inam Memon and Provincial Minister for Energy, Planning, and...

Published 20 May, 2025 05:58am

Taxes

FBR’s binding instructions: Member Legal approached regarding alleged blatant violations

ISLAMABAD: The Federal Board of Revenue (FBR) Member Legal has been approached regarding alleged blatant violations...

Published 20 May, 2025 05:58am

Commodities

Gold prices rebound on dollar weakness, US downgrade

NEW YORK: Gold prices rose more than 1% on Monday, helped by a weaker dollar and safe-haven demand after Moody’s...

Published 20 May, 2025 05:58am

Industry

Export growth: Pakistan has strengthened its commitment to GIs: minister

ISLAMABAD: Federal Minister for Commerce Jam Kamal Khan on Monday, reaffirmed Pakistan’s strong commitment to...

Published 20 May, 2025 05:58am

Industry

Jam reiterates commitment to expand trade ties with Belarus

ISLAMABAD: Federal Minister for Commerce Jam Kamal Khan reiterated Pakistan’s commitment to expanding bilateral...

Published 20 May, 2025 05:58am

Taxes

FBR holds tax awareness session at CUST

KARACHI: The Federal Board of Revenue (FBR), through its Taxpayers Services Wing, organized a tax awareness session...

Published 20 May, 2025 05:58am

Business & Finance

‘Salaried class can expect some relief in upcoming budget’

KARACHI: Chief Commissioner Inland Revenue, Large Taxpayers Office (LTO) Karachi, Zubair Bilal has stated that the...

Updated 20 May, 2025 09:10am

Business & Finance

Shariah-Compliant Intermediaries: SECP issues consultation paper

ISLAMABAD: In order to facilitate Roshan Digital Account (RDA) clients, the Securities and Exchange Commission of...

Published 20 May, 2025 05:58am

Business & Finance

Pakistan’s tax-to-GDP ratio declines in FY2024–25, says think tank

ISLAMABAD: An economic thinktank has claimed that the tax-to-gross domestic product (GDP) ratio of the Federal Board...

Updated 20 May, 2025 08:52am

Money & Banking

Dollar retreats on US ratings downgrade

NEW YORK: The US dollar weakened broadly on Monday, hitting a more than one-week low against the safe-haven yen,...

Published 20 May, 2025 05:58am

Money & Banking

Indian rupee ends tad higher

MUMBAI: The Indian rupee ended modestly higher on Monday, hoisted by a weaker dollar, hurt by concerns over US debt...

Published 20 May, 2025 05:58am

Taxes

Affected party (taxpayer): Assessment order communication mandatory: ATIR

ISLAMABAD: The Appellate Tribunal Inland Revenue (ATIR) has ruled that the communication of the assessment order to...

Published 20 May, 2025 05:58am

Companies

inDrive reshapes ride-hailing landscape

ISLAMABAD: inDrive, a global mobility and urban services platform, has reshaped the ride-hailing landscape in...

Published 20 May, 2025 05:58am

Companies

Ferozsons explores potential acquisition of Barrett Hodgson

KARACHI: Ferozsons Laboratories Limited is exploring a potential acquisition of Barrett Hodgson Pakistan Pvt ...

Published 20 May, 2025 05:58am

Industry

PPMA says price deregulation helps restore medicine availability

KARACHI: The government’s decision to deregulate prices of non-essential medicines has helped restore the...

Published 20 May, 2025 05:58am

Money & Banking

Asia FX mixed against soft dollar

BENGALURU: Most emerging Asia stock markets tumbled on Monday, led by Taiwan, Malaysia and South Korea, as...

Published 20 May, 2025 05:58am

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 8	160.18
USD to Swiss Franc / Jun 8	0.80
Pound Sterling to USD / Jun 8	1.33
Euro to USD / Jun 8	1.15
SOFR % / Jun 8	3.62

Stock	Volume
S&P 500 / Jun 8	7,405.73
India Sensex / Jun 8	73,524.26
Tokyo Nikkei / Jun 8	64,024.60
Nasdaq / Jun 8	25,929.66
Hang Seng / Jun 8	24,657.06
FTSE 100 / Jun 8	10,373.20
Dow Jones / Jun 8	50,786.01
Germany DAX 30 / Jun 8	24,616.22
France CAC40 / Jun 8	8,199.29

Item	Value
Crude Oil USD/Barrel / Jun 8	91.34
Gold 10 Grams PKR / Jun 8	386,987
Gold Spot USD/Ounce / Jun 8	4,326.41
Cotton US¢/pound / Jun 8	77.61
Petrol/Litre / Jun 9	377.78
Diesel/Litre / Jun 9	380.78

Gainers
Losers
Leaders

Stock	Price
First Fid. Leasing / Jun 8 First Fidelity Leasing Modaraba(FFLM)	8.76 ▲ 1 (12.89%)
Gulistan Sp. / Jun 8 Gulistan Spinning Mills Limited(GUSM)	9.03 ▲ 1 (12.45%)
TPL Properties / Jun 8 TPL Properties Limited(TPLP)	10.33 ▲ 1 (10.72%)
Pak. P.V.C. / Jun 8 Pakistan PVC Limited(PPVC)	19.53 ▲ 1.78 (10.03%)
Cresent Jute / Jun 8 Crescent Jute Products Limited(CJPL)	14.73 ▲ 1.34 (10.01%)
D.S. Ind. Ltd. / Jun 8 D.S. Industries Limited(DSIL)	12.31 ▲ 1.12 (10.01%)
Oilboy Energy / Jun 8 Oilboy Energy Limited(OBOY)	16.82 ▲ 1.53 (10.01%)
Quantum Data Tech. / Jun 8 Quantum Data Technologies Limited(QTECH)	33.95 ▲ 3.09 (10.01%)
Nagina Cot. / Jun 8 Nagina Cotton Mills Limited(NAGC)	77.94 ▲ 7.09 (10.01%)
Shams Textile / Jun 8 Shams Textile Mills Limited(STML)	41.99 ▲ 3.82 (10.01%)

Stock	Price
Dawood Lawrencepur / Jun 8 Dawood Lawrencepur Limited(DLL)	60.49 ▼ -564.34 (-90.32%)
Azgard Nine (Non-Voti) / Jun 8 Azgard Nine (Non-Voti)(ANLNV)	7.42 ▼ -0.98 (-11.67%)
Ruby Textile / Jun 8 Ruby Textile Mills Limited(RUBY)	18.49 ▼ -2.05 (-9.98%)
Aisha Steel(ConPS) / Jun 8 Aisha Steel(ConPS)(ASLPS)	28.85 ▼ -3.15 (-9.84%)
Elahi Cotton / Jun 8 Elahi Cotton Mills Limited(ELCM)	176.66 ▼ -19.18 (-9.79%)
Javedan Corp.(Pref) / Jun 8 Javedan Corp.(Pref)(JVDCPS)	68.40 ▼ -7.27 (-9.61%)
Ideal Spinning / Jun 8 Ideal Spinning Mills Limited(IDSM)	77.65 ▼ -8.17 (-9.52%)
Power Cem(Pref) / Jun 8 Power Cement (Pref)(POWERPS)	25.57 ▼ -2.46 (-8.78%)
F.Credit & Inv / Jun 8 First Credit and Investment Bank Limited(FCIBL)	37 ▼ -3.49 (-8.62%)
Tri-Star Mutual / Jun 8 Tri-Star Mutual Fund Limited(TSMF)	17.48 ▼ -1.64 (-8.58%)

Stock	Volume
TPL Properties / Jun 8 TPL Properties Limited(TPLP)	60,567,709 ▲ 1
TPL Corp Ltd / Jun 8 TPL Corp Limited(TPL)	42,410,725 ▲ 0.74
Pace (Pak) Ltd. / Jun 8 Pace (Pakistan) Limited(PACE)	26,156,618 ▼ -0.07
Waves Home Appliances / Jun 8 Waves Home Appliances Limited(WAVESAPP)	24,010,462 ▲ 0.06
Thatta Cement / Jun 8 Thatta Cement Company Limited(THCCL)	22,234,491 ▲ 3.04
Beco Steel Ltd / Jun 8 Beco Steel Limited(BECO)	20,895,260 ▼ -0.26
WorldCall Telecom / Jun 8 Worldcall Telecom Limited(WTL)	20,707,751 ▼ -0.01
Pak Qatar Family / Jun 8 Pak Qatar Family Takaful Limited(PAKQATAR)	20,529,844 ▲ 0.58
D.S. Ind. Ltd. / Jun 8 D.S. Industries Limited(DSIL)	20,239,775 ▲ 1.12
Pak Qatar Gen.Takaful / Jun 8 Pak Qatar General Takaful Limited(PQGTL)	19,782,746 ▲ 1.67

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