News Archives for Business & Finance - 2025-05-27

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Business & Finance - 2025-05-27

Stocks

British equities gain as Trump delays EU tariffs

British stocks closed higher on Tuesday in broad-based gains as investors cheered U.S. President Donald Trump’s...

Published 27 May, 2025 10:03pm

Stocks

European shares gain on defence boost, tariff delay aids sentiment

European shares closed higher on Tuesday with defence stocks boosting the market after U.S. President Donald Trump...

Published 27 May, 2025 10:01pm

Markets

KE CEO draws criticism at NA committee meeting

A National Assembly (NA) committee on Tuesday questioned the role of Moonis Alvi as the chief executive officer...

Updated 27 May, 2025 10:58pm

South Asia

US trade deal could boost Indian exports, government report says

A successful trade agreement between India and the U.S. could boost exports and unlock new market access, India’s...

Published 27 May, 2025 08:31pm

Stocks

Wall St climbs after long weekend on Trump’s EU tariff reprieve

Wall Street’s main indexes rose on Tuesday after U.S. President Donald Trump dialed back his threat of tariffs on EU...

Published 27 May, 2025 08:27pm

Stocks

TSX hits record high as real estate stocks lead broad-based gains

Canada’s main stock index touched a record high on Tuesday, led by gains in real estate shares, after U.S. President...

Published 27 May, 2025 08:13pm

Stocks

Saudi Arabia index closes at lowest since early April

Saudi Arabia’s main stock index closed down on Tuesday, reaching its lowest level since April 7 as market sentiment...

Published 27 May, 2025 07:39pm

Forex

Trump Media to raise $2.5 billion to invest in bitcoin

Trump Media and Technology Group will raise about $2.5 billion to invest in bitcoin, U.S. President Donald Trump’s...

Published 27 May, 2025 07:22pm

Markets

Eid-ul-Adha 2025: NBP installs ATM booth at Karachi cattle market

The National Bank of Pakistan (NBP) has installed an automated teller machine (ATM) booth at the cattle market near...

Published 27 May, 2025 06:53pm

Energy

OPEC+ set to agree July oil output hike this week, sources say

LONDON/DUBAI: OPEC+ is likely to agree to a further accelerated oil output hike for July this week, three delegates...

Published 27 May, 2025 06:35pm

Africa

AfDB cuts Africa’s 2025 growth forecast on trade tariffs uncertainty

NAIROBI: Africa’s economic output is expected to grow by 3.9% this year, the African Development Bank said in its...

Published 27 May, 2025 06:29pm

Commodities

Wheat down 8-9 cents, corn down 1-2, soy up 5-6

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

Published 27 May, 2025 06:17pm

Forex

Sterling weakens versus dollar but stays close to over three-year high

LONDON: The pound ticked lower versus a broadly stronger dollar on Tuesday, yet remained close to a more than...

Published 27 May, 2025 05:31pm

Stocks

Materials, financials lift Sri Lankan shares higher

CSE All Share index settled up 0.98% at 16,657.63

Published 27 May, 2025 05:29pm

Companies

Xiaomi reports 47% revenue growth in Q1 as it launches new electric SUV

BEIJING: China’s Xiaomi reported a 47.4% annual jump in first-quarter revenue on Tuesday as the company doubled down...

Published 27 May, 2025 05:00pm

Middle East

Saudi Aramco seeks funds through three-part bond sale

Oil giant Saudi Aramco is seeking to raise funds through a dollar-denominated three-part bond sale, fixed income...

Published 27 May, 2025 04:57pm

Companies

US government may hold some U.S. Steel shares in Nippon Steel deal

TOKYO: The U.S. government may hold some of U.S. Steel’s shares as part of a deal to allow Japan’s Nippon Steel to...

Published 27 May, 2025 04:51pm

Companies

Tyremaker Goodyear India posts quarterly profit on higher replacement demand

Tyremaker Goodyear India reported a profit in the fourth quarter on Tuesday, as higher replacement demand for tyres...

Published 27 May, 2025 04:48pm

Commodities

Japan rubber futures rise on supply concerns amid low inventories

TOKYO: Japanese rubber futures rose on Tuesday, underpinned by concerns over tighter domestic supply amid relatively...

Published 27 May, 2025 04:45pm

Commodities

Gold price per tola falls Rs3,600 in Pakistan

Gold prices in Pakistan decreased on Tuesday in line with their decline in the international market. In the local...

Published 27 May, 2025 04:44pm

Money & Banking

Bank of Spain warns of slowing lending income growth

MADRID: The Bank of Spain warned on Tuesday that lenders’ income growth was likely to slow down this year amid lower...

Published 27 May, 2025 04:41pm

Money & Banking

UniCredit can let BPM bid lapse, but will hold onto Commerzbank, CEO says

MILAN: Italy’s UniCredit is ready to let its offer for Banco BPM lapse, CEO Andrea Orcel said on Tuesday, but added...

Published 27 May, 2025 04:37pm

Money & Banking

Canada’s Scotiabank misses profit estimates as tariff concerns pile on loan loss reserves

Bank of Nova Scotia on Tuesday missed quarterly earnings estimates, burdened by a larger than expected sum of money...

Published 27 May, 2025 04:32pm

Companies

Temu-owner PDD Holdings misses revenue estimates as it faces challenges at home and abroad

Chinese e-commerce firm PDD Holdings missed Wall Street estimates for first-quarter revenue on Tuesday, as its...

Published 27 May, 2025 04:29pm

Stocks

Financials, IT stocks weigh on Indian equity benchmarks

India’s benchmark indexes fell on Tuesday, dragged by profit booking in heavyweight financials and information...

Published 27 May, 2025 04:25pm

Commodities

Copper retreats on tariff uncertainty and firmer dollar

LONDON: Copper prices lost ground on Tuesday, pressured by a firmer dollar and uncertainty over U.S. tariffs,...

Published 27 May, 2025 04:22pm

Commodities

Palm edge higher despite expectations of higher output, stock levels

KUALA LUMPUR: Malaysian palm oil futures ended higher after reversing earlier losses on Tuesday, despite the...

Published 27 May, 2025 04:19pm

Companies

NEPRA approves K-Electric’s MYT for supply segment

In a key development on the energy front, the National Electric Power Regulatory Authority (NEPRA) has approved...

Published 27 May, 2025 03:50pm

Technology

Supernet approves merger with Supernet Technologies Limited

Supernet approved on Tuesday the proposed arrangement pertaining to the merger of the company with and into Supernet...

Published 27 May, 2025 02:29pm

Business & Economy

After historic lows, inflation expected to tick up in Pakistan

Following a 0.3% YoY reading in April, Pakistan’s headline inflation is expected to inch up to 2.7% in May, as per a...

Updated 27 May, 2025 10:05pm

Mutual Funds

Euro zone yields edge down as tariff-turbulence ebbs

LONDON: Euro zone government bond yields dipped on Tuesday, ahead of a raft of regional inflation readings this week...

Published 27 May, 2025 12:36pm

Business & Finance

ECB’s Villeroy: normalisation of interest rates in euro zone probably not complete

PARIS: The normalisation of interest rates in the euro zone is probably not complete, European Central Bank (ECB)...

Published 27 May, 2025 12:31pm

Forex

Kenyan shilling stable versus dollar, LSEG data shows

The shilling traded at 129.00/50

Published 27 May, 2025 12:29pm

Stocks

Nikkei slips as stronger yen weighs, market lacks clear direction

TOKYO: Japan’s Nikkei share average dropped on Tuesday, pressured by a stronger yen that dampened sentiment, while...

Published 27 May, 2025 12:18pm

Commodities

Palm opens lower on weaker Dalian soyoil, crude oil prices

KUALA LUMPUR: Malaysian palm oil futures opened lower on Tuesday, snapping two consecutive sessions of gains,...

Published 27 May, 2025 12:13pm

Stocks

China, HK stocks slip as auto sector drops amid heightened scrutiny

SHANGHAI: China and Hong Kong shares fell on Friday, weighed down by losses in the auto sector amid increased...

Published 27 May, 2025 12:12pm

Forex

China’s yuan slips as PBOC appears to reinforce currency stability via guidance fix

SHANGHAI: China’s yuan slipped against the dollar on Tuesday, as the central bank set a slightly...

Published 27 May, 2025 12:11pm

Commodities

Weak Chinese demand leaves Australia with too much wheat

CANBERRA/SINGAPORE: Australian wheat inventories will likely be much higher than last year at the end of the season,...

Published 27 May, 2025 11:57am

Mutual Funds

Japan’s super-long bond yields slide on optimism over likely cut in MOF sales

TOKYO: Yields on super-long Japanese government bonds (JGBs) fell sharply on Tuesday after Reuters reported the...

Published 27 May, 2025 11:55am

Forex

Asian currencies rise as dollar stumbles on fiscal, trade jitters

Asian currencies were broadly higher on Tuesday as persistent concerns about US fiscal health and President Donald...

Published 27 May, 2025 11:52am

Companies

PIA privatisation: govt extends deadline for bids to June 19

The government has extended the deadline to submit Expression of Interest (EoI) for buying Pakistan International...

Updated 27 May, 2025 07:34pm

Mutual Funds

India bond yields flat; downward bias to prevail in medium term

MUMBAI: Indian government bond yields were largely unchanged in early deals on Tuesday, with a bias towards the...

Published 27 May, 2025 11:36am

Mutual Funds

Philippines raises $356mn from T-bond offer

MANILA: Following are the results of the Philippine Bureau of the Treasury’s (BTr) auction of reissued 2039 T-bonds...

Published 27 May, 2025 11:32am

Business & Finance

Southwest Airlines ends free baggage policy, to charge $35 for first bag

Southwest Airlines on Tuesday said it will charge $35 for one checked bag and $45 for the second, except for certain...

Published 27 May, 2025 11:29am

Commodities

Iron ore extends decline on talk of steel production cuts in China

SINGAPORE: Iron ore futures fell for a third straight session on Tuesday amid renewed market talk of crude steel...

Published 27 May, 2025 11:26am

Business & Finance

World Bank cuts Kenya’s 2025 growth forecast as private sector squeezed

NAIROBI: The World Bank has cut Kenya’s growth forecast for this year by half a point from its initial prediction to...

Published 27 May, 2025 11:22am

Forex

Australia, New Zealand dollars stall as rallies run into resistance

SYDNEY: The Australian and New Zealand dollars were unable to sustain gains and edged away from six-month highs on...

Published 27 May, 2025 11:20am

Stocks

KSE-100 closes marginally higher after range-bound trading

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index closed marginally higher after witnessing range-bound...

Updated 27 May, 2025 10:05pm

Business & Finance

Toyota to move some GR Corolla production to Britain, sources say

TOKYO: Toyota is moving some production of its GR Corolla sports car to Britain and will spend around $56 million on...

Published 27 May, 2025 11:19am

Stocks

South Korean won strengthens on broad dollar weakness

The benchmark KOSPI was down 12.69 points

Published 27 May, 2025 11:16am

Companies

Attock Refinery temporarily shuts main crude facility amid crude unavailability

Attock Refinery Limited (ARL), a key player in Pakistan’s downstream petroleum sector, has temporarily shut down its...

Published 27 May, 2025 10:35am

Currency

Rupee falters against US dollar

Currency settles at 282.17 against greenback

Updated 27 May, 2025 07:38pm

Companies

Solar momentum builds in Pakistan’s industry as Fast Cables expands capacity to 3MW

Fast Cables, a leading electrical cables manufacturer in Pakistan, has successfully commissioned an additional 1.1MW...

Updated 27 May, 2025 05:10pm

Forex

Indian rupee to open nearly flat, holds upper hand as dollar remains vulnerable

MUMBAI: The Indian rupee is expected to open nearly unchanged on Tuesday but traders reckon that the currency will...

Published 27 May, 2025 08:21am

Business & Finance

China’s industrial profits maintain growth momentum in April despite trade tensions

BEIJING: China’s industrial profits picked up pace in April, official data showed on Tuesday, signalling economic...

Published 27 May, 2025 08:18am

Bullion Rate

Gold hovers near two-week high on dollar weakness, US fiscal woes

Gold hovered close to a two-week high on Tuesday, supported by a weaker dollar and concerns over the U.S. fiscal...

Published 27 May, 2025 08:15am

Business & Finance

India’s IndiGo co-founder to sell up to $1.4 billion worth of shares, term sheet shows

SYDNEY: The co-founder of Indian airline IndiGo, Rakesh Gangwal, will sell a stake of up to 5.7% in the low-cost...

Published 27 May, 2025 08:12am

Stocks

India’s equity benchmarks to open little changed

India’s benchmark indexes are likely to open little changed on Tuesday, following the previous session’s gains on...

Published 27 May, 2025 08:11am

Energy

Oil prices dip on supply concerns

HOUSTON: Oil prices eased 1.5% on Tuesday, spurred by worries of a supply glut after Iranian and U.S. delegations...

Updated 27 May, 2025 09:58pm

Forex

Dollar stutters as US tax debate grinds on; yen gains

TOKYO: The dollar struggled to regain its footing Tuesday as investor concerns over a sweeping tax and spending bill...

Published 27 May, 2025 07:47am

Stocks

Asian shares dip, dollar struggles after Trump’s tariff backflip

SINGAPORE: Asian shares eased on Tuesday, though U.S. futures rose after President Donald Trump delayed his...

Published 27 May, 2025 07:44am

Industry

KE’s tariffs for 7 years: KCCI rejects Nepra’s determinations

ISLAMABAD: Karachi Chamber of Commerce and Industry (KCCI) has rejected NEPRA’s recent determinations about KE’s...