News Archives for Business & Finance - 2025-05-23

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Business & Finance - 2025-05-23

Stocks

European stocks close week lower on Trump’s EU, Apple tariff threats

European shares closed sharply lower on Friday after U.S. President Donald Trump ramped up threats of tariffs on the...

Published 23 May, 2025 10:03pm

USA

Trump renews trade threats, taking aim at European Union, Apple

US president pushes for 50% tariff on European Union goods starting June 1

Published 23 May, 2025 09:55pm

Energy

Global LNG: Asian spot LNG prices rise to two-week high amid renewed demand

LONDON: Asian spot liquefied natural gas (LNG) prices rose for the third week running to a two-week high amid...

Published 23 May, 2025 09:44pm

Commodities

EU wheat eases further from one-month high

PARIS/HAMBURG: European wheat futures fell for a second session on Friday, moving further from a one-month high as a...

Published 23 May, 2025 09:39pm

Money & Banking

Ghana central bank keeps rate unchanged as inflation eases

ACCRA: Ghana’s central bank on Friday kept its main interest rate unchanged at 28.00%, saying consumer inflation was...

Published 23 May, 2025 09:32pm

Stocks

TSX inches lower as Trump reignites tariff worries

Canada’s main stock index edged lower on Friday, tracking global peers, amid renewed trade tensions sparked by U.S....

Published 23 May, 2025 09:28pm

Stocks

Wall St falls after Trump threatens steep tariffs on EU, Apple

Wall Street’s main indexes slumped on Friday after U.S. President Donald Trump recommended 50% tariffs on the...

Published 23 May, 2025 09:27pm

Markets

Pakistan govt to present budget for FY2025-26 on June 10

Pakistan Economic Survey 2024–25 to be released on June 9

Updated 23 May, 2025 10:05pm

Stocks

Sri Lanka shares end flat

CSE All Share index settled up 0.13% at 16,494.46

Published 23 May, 2025 07:11pm

Companies

Volvo Cars CEO says customers must pay for rising tariffs

STOCKHOLM: Volvo Cars CEO Hakan Samuelsson told Reuters on Friday that the company’s customers would have to pay a...

Published 23 May, 2025 07:09pm

Companies

India’s JSW Steel misses quarterly profit view on weaker prices

India’s JSW Steel, the country’s top steelmaker, reported a smaller-than-expected rise in fourth-quarter profit on...

Published 23 May, 2025 06:56pm

Money & Banking

India central bank to transfer record surplus of 2.69 trillion rupees to government for FY25

MUMBAI: The Reserve Bank of India’s board approved the transfer of 2.69 trillion rupees ($31.53 billion) as surplus...

Published 23 May, 2025 06:50pm

Forex

India’s foreign exchange reserves drop to five-week low

MUMBAI: India’s foreign exchange reserves fell by $4.9 billion to a five-week low of $685.73 billion as of May 16,...

Published 23 May, 2025 06:08pm

Financial

European stocks tumble, bonds rally after Trump recommends 50% tariff on EU

LONDON: European stocks tumbled, the euro gave back some gains, and euro zone government bond yields fell sharply on...

Published 23 May, 2025 05:50pm

Stocks

Dubai and Abu Dhabi indexes log sixth straight week of gains

Dubai’s main share index and Abu Dhabi’s benchmark index logged its sixth straight weekly gain, each closing the...

Published 23 May, 2025 05:43pm

USA

Trump warns Apple of 25% tariffs if iPhones not made in US

US President Donald Trump said on Friday that Apple would have to pay a 25% tariff if phones sold in the country...

Published 23 May, 2025 05:29pm

Markets

Pakistan to offer US firms concessions on mining investment in tariff talks, says minister

ISLAMABAD: Pakistan plans to offer concessions to the United States (US) companies to invest in its mining sector as...

Updated 23 May, 2025 10:39pm

Companies

Tata Consultancy Services carries out internal probe into M&S hack

India’s Tata Consultancy Services is conducting an internal investigation to determine whether it was the gateway...

Published 23 May, 2025 05:25pm

Energy

Russia and Bahrain in advanced talks over LNG supply deal

LONDON: Russia is in advanced talks with Bahrain over a three-year liquefied natural gas (LNG) agreement under which...

Published 23 May, 2025 05:22pm

Companies

India’s Ashok Leyland beats quarterly profit view on demand for high-margin heavy vehicles

Indian truck and bus maker Ashok Leyland reported a higher-than-expected rise in fourth-quarter profit on Friday...

Published 23 May, 2025 05:19pm

Stocks

Indian equity benchmarks top Asian gainers, erase weekly losses

India’s equity benchmarks rose on Friday to beat major Asian peers as easing U.S. Treasury yields lifted global...

Published 23 May, 2025 05:00pm

Commodities

Weaker dollar, improved risk appetite drive copper prices up

LONDON: Prices for copper and other base metals rose on Friday supported by a weaker dollar and improved outlook for...

Published 23 May, 2025 04:57pm

Commodities

Palm logs weekly gain, expectations of higher output cap the rise

KUALA LUMPUR: Malaysian palm oil futures ended higher on Friday, and logged a weekly gain, though expectations of...

Published 23 May, 2025 04:53pm

Companies

Sazgar plans NEV rollout by FY26, ups CapEx to Rs11.5bn

First rollout of New Energy Vehicles vehicles will most likely include ORA vehicles

Updated 23 May, 2025 10:39pm

Companies

IndiGo flight facing severe weather was denied diversion requests, India says

An IndiGo passenger plane attempting to avoid severe weather en route to Indian Illegally Occupied Jammu and Kashmir...

Published 23 May, 2025 04:29pm

Financial

Gold price per tola increases Rs3,500 in Pakistan

Gold prices in Pakistan gained on Friday in line with their increase in the international market. In the local...

Updated 23 May, 2025 05:35pm

Business & Economy

Economist urges depoliticisation of NFC award, proposes new formula

The federal government should depoliticise the National Finance Commission (NFC) award by appointing technocrats...

Published 23 May, 2025 03:36pm

Financial

India to push for international financial measures against Pakistan, source says

NEW DELHI:- India will push the Financial Action Task Force (FATF), a global financial crime watchdog, to add...

Updated 23 May, 2025 10:36pm

Stocks

European stocks rise as yields ease, data lifts sentiment

European stocks rose on Friday as easing bond yields provided relief to investors, while better-than-expected...

Published 23 May, 2025 02:16pm

Markets

Pakistan ‘met all targets’, received board consensus for fund release: IMF

IMF says its funding intended to resolve balance of payments issues and not for general budgetary spending

Updated 23 May, 2025 09:49pm

Industry

Rs44bn penalty on sugar mills: CAT remands case to CCP for rehearing

The Competition Appellate Tribunal (CAT) remanded on Friday the Pakistan Sugar Mills Association (PSMA) and its...

Published 23 May, 2025 01:23pm

Money & Banking

SBP to remain closed on Wednesday, May 28

The State Bank of Pakistan (SBP) on Friday said it will remain closed on Wednesday, May 28, 2025, in observance of...

Published 23 May, 2025 01:16pm

Stocks

Australian shares rise on the back of banks, energy stocks

Australian shares edged higher on Friday, as gains in energy and bank stocks offset losses in miners and gold, with...

Published 23 May, 2025 12:42pm

Forex

Thai baht/US dollar little changed on Friday

The baht was 0.05% lower at 32.83 per dollar

Published 23 May, 2025 12:38pm

Stocks

South Korean shares flat on US policy, bond market caution

The benchmark KOSPI held its ground at 2,593.97

Published 23 May, 2025 12:24pm

Commodities

Wheat dips again as short-covering rally loses steam

CANBERRA: Chicago wheat futures fell on Friday, slipping for the second straight day, as a short-covering rally that...

Published 23 May, 2025 12:06pm

Stocks

Japan’s Nikkei climbs on lower US yields, softer yen

TOKYO: Japan’s Nikkei share average climbed on Friday, supported by falling US Treasury yields and a weaker yen,...

Published 23 May, 2025 11:58am

Commodities

Iron ore dips on slowing Chinese steel demand, dollar strength

SINGAPORE: Iron ore futures prices eased on Friday and were set for modest weekly losses on a strengthening dollar...

Published 23 May, 2025 11:55am

Commodities

London copper edges higher as dollar weakens

NEW DELHI: Copper prices in London edged higher on Friday, supported by a softer dollar and poised for weekly gains,...

Published 23 May, 2025 11:53am

Commodities

Japan pledges immediate rice relief for consumers to prevent shift to foreign brands

TOKYO: Japan’s new agriculture minister pledged on Friday to quickly move rice from government stockpiles to store...

Published 23 May, 2025 11:51am

Stocks

Hong Kong stocks set for sixth straight weekly gain on listing momentum

SHANGHAI: Hong Kong stocks rose on Friday and were set for a sixth straight weekly gain, underpinned by renewed...

Published 23 May, 2025 11:47am

Mutual Funds

Bond bulls buy into market despite rise in yields and heavy debt supply

MUMBAI: Indian government bond yields edged lower in early trade on Friday as investors stepped in after a...

Published 23 May, 2025 11:39am

Forex

China’s yuan inches higher, set for fifth straight weekly gain

SHANGHAI: China’s yuan inched higher against the dollar and looked set for the fifth straight weekly gain on Friday,...

Published 23 May, 2025 11:30am

Companies

Bolan Castings extends shutdown amid weak demand

Bolan Castings Limited (BCL), a subsidiary of Millat Tractors Limited, has decided to extend its temporary...

Published 23 May, 2025 11:26am

Forex

Australia, New Zealand dollars gain but face stiff chart resistance

SYDNEY: The Australian and New Zealand dollars gained on Friday as an overnight bounce in the US currency faded, but...

Published 23 May, 2025 11:25am

Commodities

Palm oil up ahead of leads on output data, poised for weekly gain

KUALA LUMPUR: Malaysian palm oil futures inched higher on Friday, and were on track for a weekly gain, as traders...

Published 23 May, 2025 11:17am

Business & Finance

UniCredit has appealed to court against Italy govt’s terms on its Banco BPM bid, Repubblica says

ROME: Italian bank UniCredit has appealed to an administrative court against the “golden power” terms the Italian...

Published 23 May, 2025 11:00am

Currency

Rupee slightly improves against US dollar

Currency settles at 281.97 against greenback

Updated 23 May, 2025 06:46pm

Stocks

KSE-100 closes flat after range-bound trading

The Pakistan Stock Exchange (PSX) witnessed a range-bound session on Friday, with its benchmark KSE-100 Index swayed...

Updated 23 May, 2025 07:43pm

Forex

Indian rupee to receive early lift from Asian peers; traders doubt follow through

MUMBAI: The Indian rupee may find brief support at the open on Friday, buoyed by strength in Asian peers, although...

Published 23 May, 2025 08:19am

Bullion Rate

Gold heads for best week in more than a month on US fiscal worries

Gold was set for its best weekly gain in more than a month on Friday, as a softer dollar and mounting concerns about...

Published 23 May, 2025 08:06am

Stocks

Indian benchmarks may open higher; foreign flows, US fiscal woes seen capping gains

India’s benchmark indexes are likely to open higher on Friday, after logging a decline of 1.65% so far this week,...

Published 23 May, 2025 08:03am

Business & Finance

Japan’s tariff envoy to visit US around May 30 to meet Bessent, sources say

TOKYO: Japan’s top tariff negotiator Ryosei Akazawa intends to visit the United States again on May 30 for a fourth...

Published 23 May, 2025 07:54am

Energy

Oil slides nearly 2% as Trump recommends 50% EU tariff

LONDON: Oil prices dropped by nearly 2% on Friday and were set for their first weekly decline in three weeks after...

Updated 23 May, 2025 05:47pm

Forex

Dollar set to snap 4-week winning streak on US fiscal health worries

SINGAPORE: The US dollar was soft on Friday, poised to make its first weekly drop in five weeks against the euro and...

Published 23 May, 2025 07:48am

Stocks

Asian shares make cautious gains as beaten-down Treasuries find support

SYDNEY: Asian shares made some tentative gains on Friday as beaten-down Treasuries found buyers after U.S. President...

Published 23 May, 2025 07:45am

Budget 2025-26

Illegal trade and tax evasion: Govt urged to pursue consistent crackdown

ISLAMABAD: The ACT Alliance Pakistan has once again urged the Government of Pakistan to pursue a consistent,...

Published 23 May, 2025 06:16am

Business & Finance

Awais shares power sector reforms, plans with World Bank

ISLAMABAD: Federal Minister for Power, Sardar Awais Ahmad Khan Leghari on Thursday shared power sector reforms and...

Published 23 May, 2025 06:13am

Business & Finance

New CPF: Pakistan, World Bank agree to develop implementation framework

ISLAMABAD: Pakistan and the World Bank agreed to swiftly develop an implementation framework for effective...

Updated 23 May, 2025 08:29am

Industry

ABAD submits comprehensive budget proposals

KARACHI: The Association of Builders and Developers (ABAD) has submitted a comprehensive budget proposals for fiscal...