News Archives for Business & Finance - 2025-05-22

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Business & Finance - 2025-05-22

Taxes

Construction sector: builders, developers call for 15-year tax policy

The Association of Builders and Developers of Pakistan (ABAD) has called for a long-term 15-year tax policy for the...

Published 22 May, 2025 09:14pm

Forex

State Bank of Pakistan reserves jump to 4-month high on IMF inflow

Total liquid foreign reserves held by country stand at $16.65 billion

Updated 22 May, 2025 10:52pm

Business & Economy

Budget 2025-26: Pakistan govt likely to bring YouTubers, freelancers into tax net

Pakistan government is projected to impose new taxes including on the income of freelancers, vloggers, and...

Updated 22 May, 2025 08:36pm

Stocks

S&P 500 slightly down after Trump’s ‘big, beautiful’ tax bill wins House vote

The benchmark S&P 500 edged lower in choppy trading on Thursday after the U.S. House of Representatives voted to...

Published 22 May, 2025 07:46pm

Commodities

Gold price per tola falls Rs1,900 in Pakistan

Gold prices in Pakistan declined on Thursday in line with their decrease in the international market. In the local...

Published 22 May, 2025 07:20pm

Forex

Russian rouble hits near two-year high against US dollar

MOSCOW: The Russian rouble hit its highest level in nearly two years against the dollar on Wednesday, after crossing...

Published 22 May, 2025 07:07pm

Commodities

Soybeans down 2-5 cents, corn steady-down 2, wheat mixed

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

Published 22 May, 2025 07:05pm

Markets

Field Marshal Asim Munir meets Pakistan Crypto Council CEO Bilal Bin Saqib

In a high-level meeting at General Headquarters (GHQ), Pakistan’s Chief of Army Staff, Field Marshal Asim Munir, met...

Updated 22 May, 2025 10:54pm

USA

US weekly jobless claims fall as labor market remains stable

WASHINGTON: The number of Americans filing new applications for unemployment benefits dropped last week, suggesting...

Published 22 May, 2025 05:43pm

Stocks

Sri Lanka shares end higher after surprise interest rate cut

CSE All Share index settled up 0.7% at 16,473.4

Published 22 May, 2025 05:12pm

Commodities

Asia rice: High supply, weak rupee push India rates to near 2-year low

India’s rice export prices slid to a near two-year low this week, pressured by a weak rupee and rising supplies amid...

Published 22 May, 2025 05:05pm

Money & Banking

India’s IndusInd rebounds on bets bank has come clean on accounting issues

BENGALURU/MUMBAI: Shares of India’s IndusInd Bank rebounded from sharp falls on Thursday on bets that the worst was...

Published 22 May, 2025 04:51pm

Companies

Indian staffing service TeamLease expects revenue lift from manufacturing, consumer sectors

India’s TeamLease Services expects revenue to grow up to 22% in the financial year starting April 1, driven by job...

Published 22 May, 2025 04:44pm

Companies

China’s Xiaomi to invest almost $28 billion in core technology R&D over next five years

BEIJING: China’s Xiaomi plans to invest a further 200 billion yuan ($27.8 billion) in core technology research and...

Published 22 May, 2025 04:28pm

Stocks

Indian shares fall on US fiscal worries, rising Treasury yields

Indian benchmark indices fell on Thursday, mirroring global losses as U.S. fiscal worries and rising Treasury yields...

Published 22 May, 2025 04:26pm

Business & Economy

Aurangzeb meets OICCI delegation, pledges continued support

Finance Minister Muhammad Aurangzeb met with a delegation from the Overseas Investors Chamber of Commerce and...

Published 22 May, 2025 04:25pm

Commodities

Copper touches three-week low as economic uncertainty lingers

Copper prices hit a three-week low on Thursday and other base metals also eased as uncertainty persists over...

Published 22 May, 2025 04:23pm

Commodities

Palm extends losses for second day on weak soyoil, output concerns

KUALA LUMPUR: Malaysian palm oil futures extended losses on Thursday for a second consecutive session, weighed down...

Published 22 May, 2025 04:20pm

Business & Economy

IMF delegation meets PM Shehbaz as Islamabad prepares Budget FY26

Fund to continue support Pakistan's economic reforms

Updated 22 May, 2025 10:53pm

Technology

SECP warns public against fraudulent online trading platforms offering ‘unrealistic returns’

The Securities and Exchange Commission of Pakistan (SECP) on Thursday warned the public against investing through...

Published 22 May, 2025 02:53pm

Budgets

Budget FY26: Insurance industry seeks reforms including removal of double taxation, says IAP chairman

Chairman Insurance Association of Pakistan (IAP) Shoaib Javed Hussain says elimination of overlapping tax jurisdictions between the federal government and provincial authorities will ultimately benefit policyholders

Updated 22 May, 2025 02:53pm

Stocks

European stocks slide as bond yields rise, PMI data in focus

European stocks fell on Thursday, as concerns over US fiscal health kept Treasury yields elevated, while investors...

Published 22 May, 2025 01:56pm

Business & Economy

Budget FY26: govt to continue fiscal consolidation, follow IMF guidelines, says Topline

The government is likely to continue fiscal consolidation in the upcoming budget and is expected to closely align...

Updated 22 May, 2025 10:55pm

Forex

South African rand steady after fraught Ramaphosa-Trump meeting

JOHANNESBURG: South Africa’s rand was steady on Thursday, as markets tried to digest US President Donald Trump’s...

Published 22 May, 2025 01:18pm

Stocks

South Korean shares track Wall Street’s losses on US debt worries

The benchmark KOSPI closed down 31.91 points, or 1.22%, at 2,593.67

Published 22 May, 2025 12:32pm

Companies

Honda Atlas Cars’ posts Rs2.7bn profit in 2025

Honda Atlas Cars (Pakistan) Limited (HCAR) registered a profit of Rs2.7 billion for the year ended March 31, 2025, a...

Published 22 May, 2025 12:29pm

Technology

China’s Lenovo reports 64% profit decline in fourth quarter

BEIJING: China’s Lenovo, the world’s largest personal computer manufacturer, on Thursday reported a...

Published 22 May, 2025 12:05pm

Business & Finance

BP signs long-term LNG deal with Zhejiang Energy

BP on Thursday said it has entered into a long-term liquefied natural gas sale and purchase agreement with Zhejiang...

Published 22 May, 2025 12:03pm

Forex

China’s yuan holds steady near one-week high on weak dollar

HONG KONG: China’s yuan hovered near a one-week high against the US dollar on Thursday, as the greenback’s weakness...

Published 22 May, 2025 11:59am

Business & Finance

BOJ should step in only in a ‘severe’ bond market rout, policymaker says

TOKYO: The Bank of Japan doesn’t need to make big changes to its bond taper plan and should only ramp up buying in...

Published 22 May, 2025 11:58am

Technology

SingTel posts 9% annual profit rise, unveils $1.5 billion buyback plan

Singapore Telecommunications reported a 9% rise in annual profit on Thursday, driven by solid performances from its...

Published 22 May, 2025 11:57am

Mutual Funds

India bond yields continue downward trend on bets of policy easing

MUMBAI: Indian government bond yields fell marginally in early deals on Thursday, as underlying market sentiment...

Published 22 May, 2025 11:56am

Bullion Rate

Gold hits two-week high as investors cautious on US debt concerns

Gold prices rose to a two-week peak on Thursday as investors leaned toward the safe-haven asset amid mounting...

Published 22 May, 2025 11:55am

Stocks

China stocks flat, Hong Kong tracks regional peers lower on US fiscal concerns

SHANGHAI: Stocks in mainland China were largely flat on Thursday, as gains in banks and miners countered concerns...

Published 22 May, 2025 11:54am

Commodities

Palm oil falls for second day on weak soyoil, output concerns

KUALA LUMPUR: Malaysian palm oil futures dropped on Thursday for a second consecutive session, pressured by weaker...

Published 22 May, 2025 11:48am

Technology

China’s Xiaomi founder expects new electric SUV to hit market in July

BEIJING: Xiaomi’s new electric SUV, the YU7, is expected to enter the market in July, founder and CEO Lei Jun said...

Published 22 May, 2025 11:44am

Stocks

Australian shares end two-day winning run as investors lock in profits

Australian shares fell on Thursday, weighed down by losses in energy and banking stocks, as investors booked profits...

Published 22 May, 2025 11:42am

Commodities

Iron ore rises on steady China demand; higher shipments cap gains

SINGAPORE: Iron ore futures prices edged higher on Thursday, supported by resilient demand for the steelmaking...

Published 22 May, 2025 11:33am

Stocks

Japan’s Nikkei falls to two-week low after heavy sell-off of US stocks, bonds

TOKYO: Japan’s Nikkei share average fell to a two-week low on Thursday, as investors turned risk-off after sharp...

Published 22 May, 2025 11:32am

Forex

New Zealand dollar struggles as tight budget signals more policy easing

SYDNEY: The New Zealand dollar eased on Thursday as the government’s tight budget position reinforced the need for...

Published 22 May, 2025 11:31am

Commodities

London copper rises on weak dollar, but tariff concerns cap gains

NEW DELHI: Copper prices in London edged higher on Thursday, supported by a softer dollar, although gains were...

Published 22 May, 2025 11:30am

Commodities

Wheat rally hits the buffers as US dollar stabilises

CANBERRA: A rally in Chicago wheat futures hit the buffers on Thursday, with prices falling from Wednesday’s...

Published 22 May, 2025 11:20am

Business & Finance

Japan’s May factory activity contracts for 11th month, PMI shows

TOKYO: Japan’s manufacturing activity extended declines for nearly a year in May, as factories continued to take a...

Published 22 May, 2025 11:19am

Business & Finance

US-China trade truce may ease Komatsu’s tariff pain by $140 million, CEO says

TOKYO: Komatsu should see a nearly 20 billion yen ($140 million) mitigation in the impact of U.S. tariffs on its...

Published 22 May, 2025 11:18am

Business & Economy

Trump says US doing ‘big deals’ with Pakistan, India

US president says he helped de-escalate tensions between Pakistan, India through trade

Updated 22 May, 2025 10:53pm

Mutual Funds

Japan’s 10-year bond yield hits 1-1/2 month high after US bond yields surge

TOKYO: Japan’s 10-year government bond (JGB) yield rose to its highest in more than 1-1/2 months on Thursday after...

Published 22 May, 2025 10:40am

Exchange

Pakistan rupee depreciates to 17-month low against US dollar

Currency settles at 282.06 against greenback

Updated 22 May, 2025 07:03pm

Stocks

KSE-100 sheds nearly 800 points after volatile trading

After hitting a record intra-day high, profit-taking erased gains at the Pakistan Stock Exchange (PSX) as the...

Updated 22 May, 2025 11:07pm

Stocks

Indian benchmarks set to open lower on US fiscal jitters, rising Treasury yields

India’s benchmark indexes are likely to open marginally lower on Thursday as U.S. fiscal worries and higher Treasury...

Published 22 May, 2025 08:19am

Forex

US fiscal concerns drive dollar down, to propel Indian rupee higher

MUMBAI: The Indian rupee is likely to open higher on Thursday, supported by the strength in Asian peers, with...

Published 22 May, 2025 08:12am

Business & Finance

Sri Lanka cenbank cuts rate by 25 bps in surprise move to foster growth

COLOMBO: Sri Lanka’s central bank reduced the policy rate by 25 basis points in a surprise move on Thursday to...

Published 22 May, 2025 07:50am

Business & Finance

India central bank bought net $14.36 billion in spot forex market in March, bulletin shows

MUMBAI: The Reserve Bank of India (RBI) bought a net of $14.36 billion in the spot foreign exchange market in March,...

Published 22 May, 2025 07:48am

Stocks

Treasury yields rise, stocks decline on US fiscal outlook worries

SINGAPORE: Longer-dated U.S. Treasury yields hit their highest in 18 months on Thursday, while Asian stocks and the...

Published 22 May, 2025 07:46am

Forex

Brent futures slipped 33 cents, or 0.5%, to $64.58 a barrel

TOKYO:US fiscal concerns and a tepid auction of Treasury bonds slapped the dollar to a two-week low versus the yen...

Published 22 May, 2025 07:40am

Energy

Oil prices fall more than 1% on potential further increase to OPEC+ output

LONDON: Oil prices dropped by more than 1% on Thursday after a report that OPEC+ is discussing a production increase...

Updated 22 May, 2025 05:07pm

Industry

Experts for imposing FED on alcoholic beverages

ISLAMABAD: The government can easily generate handsome amount of revenue to the tune of billions by imposing federal...

Published 22 May, 2025 06:56am

Business & Finance

China slams US ‘bullying’ over new warnings on Huawei chips

BEIJING: Beijing condemned on Wednesday new US warnings on the use of AI chips by Chinese tech giant Huawei, vowing...