News Archives for Business & Finance - 2025-05-21

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Business & Finance - 2025-05-21

Business & Finance

National Saving Schemes: CDNS revises rates of return downwards

The Central Directorate of National Savings (CDNS) has reduced the rates of return on a number of its National...

Published 21 May, 2025 10:24pm

Companies

India’s Colgate-Palmolive quarterly profit declines on slowing urban demand

Colgate Palmolive India, opens new tab posted a drop in fourth-quarter profit on Wednesday, as sales slowed down on...

Published 21 May, 2025 09:46pm

Stocks

Saudi Arabia’s stock index sees worst session in six weeks

Saudi Arabia’s benchmark stock index logged its worst session in six weeks, ending the day 1.2% lower, while most...

Published 21 May, 2025 09:28pm

Forex

Bitcoin rises to new record high, eclipses January top

LONDON: The price of Bitcoin rose to its highest level on record on Wednesday, eclipsing the previous high from...

Published 21 May, 2025 08:46pm

Companies

India’s NALCO says profit doubles as higher aluminium, copper prices boost margins

India’s National Aluminium Company (NALCO), on Wednesday, reported that its fourth-quarter profit more than doubled...

Published 21 May, 2025 08:42pm

Money & Banking

India’s IndusInd Bank posts largest-ever quarterly loss due to suspected employee fraud

BENGALURU: IndusInd Bank, India’s fifth-biggest private lender by assets, reported its biggest-ever quarterly loss...

Published 21 May, 2025 08:27pm

Energy

South Africa wants $100 a barrel oil before selling more crude stocks

CAPE TOWN: South Africa will wait for global oil prices to rise to around $100 a barrel before selling more of its...

Published 21 May, 2025 08:23pm

Companies

Baidu says domestic tech will shield AI push from US curbs

China’s Baidu said on Wednesday U.S. export controls on semiconductors would not significantly impact its AI...

Published 21 May, 2025 08:17pm

Commodities

PMEX set to launch first-ever deliverable contract in agriculture products

Exchange aims to formally launch Deliverable Sugar Futures in 10 to 15 days

Updated 21 May, 2025 10:52pm

Money & Banking

Angola holds key rate for sixth straight meeting

LUANDA: Angola’s central bank kept its main interest rate unchanged for the sixth meeting in a row on Wednesday,...

Published 21 May, 2025 08:06pm

Companies

IndiGo hopes bookings will recover in June after Pakistan, India conflict

India’s top airline IndiGo is hoping bookings will rebound in June, after demand for some routes took a sharp hit...

Published 21 May, 2025 08:02pm

Commodities

Gold price per tola jumps Rs6,600 in Pakistan

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

Published 21 May, 2025 06:18pm

Stocks

Sri Lanka shares end little changed

CSE All Share index settled up 0.12% at 16,355.91

Published 21 May, 2025 05:25pm

South Asia

Sri Lanka’s consumer prices drop 0.8% in April year/year

Sri Lanka’s consumer prices fell 0.8% year-on-year in April after a 1.9% decline in March, official data showed on...

Published 21 May, 2025 05:14pm

Companies

BYD launches low-cost ‘Dolphin Surf’ electric car in Europe

BERLIN: China’s BYD introduced its low-cost electric ‘Dolphin Surf’ car, its tenth model on offer in Europe, in...

Published 21 May, 2025 05:08pm

Stocks

Indian equity benchmarks snap 3-day losing streak on financial, pharma boost

India’s benchmark equity indexes snapped a three-day losing streak on Wednesday, led by gains in pharma and...

Published 21 May, 2025 05:00pm

Commodities

Palm snaps two-day winning run as rising output, stocks weighs

KUALA LUMPUR: Malaysian palm oil futures snapped a two-day winning streak on Wednesday, having reversed earlier...

Published 21 May, 2025 04:57pm

Business & Finance

‘False earnings, affiliation claims’: CCP fines British Lyceum Rs5mn

The Competition Commission of Pakistan (CCP) has imposed a penalty of Rs5 million on British Lyceum (Pvt.) Limited...

Published 21 May, 2025 04:57pm

Companies

Shield Corporation to end diaper production

Shield Corporation Limited (SCL), a Pakistani manufacturer of baby care and hygiene products, has decided to...

Published 21 May, 2025 03:51pm

Companies

Crescent Star Insurance eyes Rs400mn property in Karachi

Crescent Star Insurance Limited (CSIL) is considering buying a property worth Rs400 million in Phase 8, DHA Karachi....

Published 21 May, 2025 02:59pm

Companies

Bunny’s Limited to set up bread production plant in Islamabad’s Industrial Area

Bunny’s Limited announced on Wednesday that it has decided to install a bread production plant in 1-9 Industrial...

Published 21 May, 2025 02:14pm

Business & Finance

Indonesia central bank cuts rates, as expected

JAKARTA: Indonesia’s central bank cut its key interest rate on Wednesday, as expected by the market, resuming its...

Published 21 May, 2025 01:42pm

Commodities

Iron ore rises on softer US dollar, steady demand

SINGAPORE: Iron ore futures rose on Wednesday, supported by a softer US dollar and resilient demand for the...

Published 21 May, 2025 01:41pm

Forex

South African rand near five-month high before budget, Trump meeting

JOHANNESBURG: The South African rand traded near a five-month high early on Wednesday, hours before the finance...

Published 21 May, 2025 01:40pm

Commodities

London copper rises on dollar weakness, China rate cut

NEW DELHI: Copper prices in London rose on Wednesday, tracking weakness in the US dollar and stimulus efforts from...

Published 21 May, 2025 01:39pm

Mutual Funds

Euro zone yields nudge higher, long-dated bonds under pressure

LONDON: Euro zone government bond yields edged higher on Wednesday, shaped by the broad global mood, with Treasury...

Published 21 May, 2025 01:37pm

Stocks

European stocks ease from 2-month highs as Julius Baer slides, US talks in focus

European stocks retreated from two-month peaks on Wednesday, weighed down by a drop in Julius Baer shares after the...

Published 21 May, 2025 01:35pm

Business & Finance

ECB warns buoyant markets ‘out of sync’ with uncertain world

FRANKFURT: Buoyant credit and stock markets appear “out of sync” with a world gripped by geopolitical and trade...

Published 21 May, 2025 01:34pm

Energy

Saudi Arabia crude exports fall to 5.754 million barrels per day in March

Saudi Arabia’s crude exports in March fell to 5.754 million barrels per day (bpd) from 6.547 million bpd in...

Published 21 May, 2025 01:32pm

Technology

Pakistan eyes Starlink to bridge digital divide amid engagement with SpaceX

Rizwan Saeed Sheikh, Ambassador of Pakistan to the United States, has said that the transformative potential of...

Updated 21 May, 2025 08:21pm

Technology

Pakistan establishes Digital Assets Authority to regulate crypto, blockchain

In a key development, the Ministry of Finance on Wednesday unveiled a comprehensive strategy to regulate digital...

Published 21 May, 2025 12:56pm

Companies

Going green: Power Cement to install 7.5MW wind plant

In a significant step toward sustainability, Power Cement Limited (POWER) has announced plans to set up a 7.5MW wind...

Updated 21 May, 2025 05:18pm

Business & Finance

Thai exports should exceed target this year, commerce minister says

BANGKOK: Thailand’s exports are expected to beat a target of 2% to 3% growth this year, helped by increased...

Published 21 May, 2025 12:33pm

Business & Finance

Etihad first-quarter profit jumps 30% on strong demand

DUBAI: Etihad Airways’ first-quarter profit after tax jumped 30% to 685 million dirhams ($186.52 million), it said...

Published 21 May, 2025 12:20pm

Stocks

South Korean shares end higher as pharma stocks jump on government’s support pledge

SEOUL: Round-up of South Korean financial markets: South Korean shares closed nearly 1% higher on Wednesday, as...

Published 21 May, 2025 12:19pm

Stocks

Australian shares rise, boosted by financials after RBA rate cut

Australian shares climbed on Wednesday, led by banks after the local central bank cut interest rates as expected,...

Published 21 May, 2025 11:54am

Commodities

Palm slips on firmer ringgit; stronger rival oils, crude limit fall

KUALA LUMPUR: Malaysian palm oil futures opened lower on Wednesday, after two sessions of gains, as a firmer ringgit...

Published 21 May, 2025 11:50am

Commodities

Wheat hits 4-week high on soft dollar, crop concerns, and short-covering

CANBERRA: Chicago wheat futures climbed to a four-week high on Wednesday, supported by a soft dollar, concerns over...

Published 21 May, 2025 11:48am

Mutual Funds

India bond yields witness upside bias as Treasury yields spike

MUMBAI: Indian government bond yields stayed in a narrow range in early deals on Wednesday, but traders anticipate...

Published 21 May, 2025 11:47am

Stocks

Japanese shares little changed after recent gains; Mizuho surges

TOKYO: Japanese shares were little changed on Wednesday after recent gains, with traders looking for cues after the...

Published 21 May, 2025 11:46am

Forex

Ringgit leads Asia FX higher as dollar softens; Jakarta assets steady

Currencies in emerging Asia traded higher for the second straight session against an easing US dollar on Wednesday,...

Published 21 May, 2025 11:45am

Energy

Low diversity in critical mineral markets could hurt industry, IEA says

PARIS: Critical mineral markets are at risk of painful disruptions after becoming more concentrated, particularly in...

Published 21 May, 2025 11:43am

Technology

Nvidia CEO praises Trump move to scrap some AI export curbs

TAIPEI: US export controls on artificial intelligence chips to China were “a failure” as they have cost American...

Published 21 May, 2025 11:39am

Stocks

China, Hong Kong shares rise, supported by mining and battery stocks

SHANGHAI: China and Hong Kong stocks rose on Wednesday, led by mining and battery shares, as a rally in gold prices...

Published 21 May, 2025 11:21am

Forex

China’s yuan edges up on latest economic stimulus measures

HONG KONG: China’s yuan rose against the dollar on Wednesday, extending gains as the latest efforts by Beijing to...

Published 21 May, 2025 11:16am

Energy

Pakistan’s power generation increases 22% in April

Power generation in Pakistan clocked in at 10,513 GWh in April 2025, an increase of over 22% YoY compared to the...

Published 21 May, 2025 11:12am

Currency

Rupee reports marginal decline against US dollar

Currency settles at 281.97 against US dollar

Updated 21 May, 2025 06:44pm

Stocks

Buying rally at PSX, KSE-100 settles with over 950 points gain

Buying momentum returned to the Pakistan Stock Exchange (PSX) on Wednesday, with the benchmark KSE-100 Index closing...

Updated 21 May, 2025 07:28pm

Forex

Fed comments weigh on dollar, set stage for slight Indian rupee upside

MUMBAI: The Indian rupee is set to open marginally higher on Wednesday, buoyed by a decline in the U.S. dollar after...

Published 21 May, 2025 08:16am

Technology

Toyota debuts new software system in revamped RAV4

RAV4 has become one of Toyota's most popular models worldwide

Published 21 May, 2025 08:08am

Stocks

Indian equity benchmarks may open higher; foreign flow jitters to cap gains

India’s equity benchmark indexes are likely to open higher on Wednesday, rebounding from a 1% drop in the previous...

Published 21 May, 2025 08:04am

Bullion Rate

Gold hits one-week high on weaker dollar, US fiscal concerns

Gold prices rose on Wednesday to their highest levels in a week as the dollar weakened and investors sought safety...

Published 21 May, 2025 08:02am

Forex

Dollar on defensive as traders eye Trump tax bill, G7 currency talks

TOKYO: The US dollar edged lower on Wednesday, extending a two-day slide against major peers, as President Donald...

Published 21 May, 2025 07:49am

Energy

Oil prices dip after bearish US government report on crude supplies

NEW YORK: Oil prices dipped on Wednesday after the U.S. government released bearish data on crude and fuel supplies...

Updated 21 May, 2025 10:00pm

Stocks

Asian stocks edge up as US trade deals, fiscal health in focus

Asian equities edged higher on Wednesday, with risk appetite contained by elevated bond yields as investors remained...

Published 21 May, 2025 07:42am

Taxes

Beverage firm dual-registered over tax withholding dispute

LAHORE: A beverage company already registered with the Punjab Revenue Authority gets registered by another...

Published 21 May, 2025 07:07am

Industry

CBD, local govt join forces to identify strategic business hubs

LAHORE: The Punjab Central Business District Development Authority (PCBDDA) has joined hands with the local...

Published 21 May, 2025 07:04am

Industry

CEOs of refineries appreciate resolution of sales tax issue

ISLAMABAD: The Chief Executive Officers (CEOs) of Pakistan’s leading oil refineries called on Federal Minister for...

Updated 21 May, 2025 09:17am

Industry

Belgian-British economist stresses need for effective industry policy in Pakistan

ISLAMABAD: Professor Stefan Dercon, a Belgian-British economist, emphasised that an effective industrial policy...

Updated 21 May, 2025 09:21am

Industry

FBATI lauds govt’s decision to give power relief for industries

KARACHI: Industrialists in Karachi termed the government’s decision to fix the electricity tariff at Rs 38 per ...

Published 21 May, 2025 06:52am

Industry

FCCI President meets Chief Manager SBP Faisalabad

FAISALABAD: Exponential growth is expected from next year due to the viable economic policies and State Bank of...

Published 21 May, 2025 06:52am

Companies

Standard Chartered Report: Global Islamic finance assets to surpass US$ 7.5tln by 2028

KARACHI: Standard Chartered has projected that global Islamic finance assets will reach USD7.5 trillion by 2028, up...

Published 21 May, 2025 06:50am

Business & Finance

Energy sector: Govt explores co-op avenues with Deloitte team

ISLAMABAD: A high-level delegation from Deloitte Advisory US, led by Richard Longstaff, met with the Federal ...

Published 21 May, 2025 06:48am

Business & Finance

Tobacco exporters meet Jam Kamal

ISLAMABAD: A delegation of leading tobacco exporters met with Federal Minister for Commerce Jam Kamal Khan on Monday...

Published 21 May, 2025 06:28am

Money & Banking

Won top loser among Asian currencies

BENGALURU: Indonesian equities hovered around four-month highs on Tuesday to lead gains across Asia as investors...

Published 21 May, 2025 06:28am

Money & Banking

Dollar falls against yen

NEW YORK: The US dollar declined again on Tuesday, weighed down in part by the Federal Reserve’s caution over the...

Published 21 May, 2025 06:28am

Money & Banking

Indian rupee slips against dollar

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

Published 21 May, 2025 06:28am

Industry

LCCI opposes proposed changes under National Tariff Policy

LAHORE: President of Lahore Chamber of Commerce and Industry Mian Abuzar Shad has strongly opposed the proposed...

Published 21 May, 2025 06:28am

Business & Finance

PAAPAM says concerned at National Tariff Policy

LAHORE: The Pakistan Association of Auto Parts Manufacturers (PAAPAM) has raised serious concerns over the...

Published 21 May, 2025 06:28am

Business & Finance

National Islamic Economic Conference: Leaders support ‘Sharia-compliant model’

KARACHI: At the third National Islamic Economic Conference 2025, leaders from government, finance, and religious...

Updated 22 May, 2025 03:44pm

Business & Finance

Request to limit WHT monitoring to two years declined: ABAD urged to support FBR in achieving 15pc tax-to-GDP ratio

KARACHI: Chief Commissioner Aftab Alam of the Medium Taxpayer Office (MTO) Karachi has called upon the Association ...

Published 21 May, 2025 06:28am

Business & Finance

July-April repatriation of profits, dividends rises 108pc YoY

KARACHI: The repatriation of profits and dividends from foreign investments in Pakistan posted a notable 108 percent...

Published 21 May, 2025 06:28am

Business & Finance

PVMA seeks removal of Section 8B of Sales Tax Act in budget

KARACHI: Sheikh Umar Rehan, Chairman of the Pakistan Vanaspati Manufacturers Association (PVMA) has urged the ...

Published 21 May, 2025 06:28am

Business & Finance

Govt working on budget proposals to facilitate corporate sector

ISLAMABAD: The government is finalising different proposals to facilitate corporate sector in budget 2025-26...

Published 21 May, 2025 06:28am

Business & Finance

Ogra decides to change prescribed gas prices

ISLAMABAD: Oil and Gas Regulatory Authority (OGRA) on Tuesday decided to raise the prescribed price of natural gas...

Published 21 May, 2025 06:28am

Business & Finance

Punjab Budget to boost business, digital finance: Minister

LAHORE: Punjab Finance Minister Mian Mujtaba Shuja-ur-Rehman has said the upcoming provincial budget will feature...

Updated 21 May, 2025 07:25am

Business & Finance

SCCI presents budget proposals for FY 2025-26

PESHAWAR: Sarhad Chamber of Commerce and Industry presented its budget proposals for the fiscal year 2025-26. In the...

Published 21 May, 2025 06:28am

Business & Finance

Tax system termed barrier to economic growth

KARACHI: The Chairman of National Business Group Pakistan, the President of the Pakistan Businessmen and...

Published 21 May, 2025 06:28am

Business & Finance

FPCCI demands reviewing Income Tax Amendment Ordinance

KARACHI: President FPCCI Atif Ikram Sheikh has demanded government to review Income Tax Amendment Ordinance. He ...

Updated 21 May, 2025 06:51am

Pakistan

CDWP approves four projects worth Rs21.83bn

ISLAMABAD: The Central Development Working Party (CDWP) cleared a total of 10 development projects at a cost of Rs...

Updated 21 May, 2025 07:03am

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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