News Archives for Business & Finance - 2025-06-02

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Business & Finance - 2025-06-02

Business & Economy

Budget 2025-26: Rs1trn planned for PSDP, says Ahsan Iqbal

Planning minister Ahsan Iqbal said on Monday the government would propose Rs1 trillion for Public Sector Development...

Published 02 Jun, 2025 10:34pm

Markets

Pakistan Crypto Council agrees on technical committee for draft laws, regulatory framework

Finance Minister Aurangzeb chairs high-level meeting attended by PCC chief, SBP governor, SECP chairman, and others

Updated 02 Jun, 2025 11:23pm

Business & Finance

Indian manufacturing growth eases to 3-month low in May, PMI shows

BENGALURU: India’s manufacturing growth slowed to a three-month low in May as demand softened amid price pressures...

Published 02 Jun, 2025 09:33pm

Business & Finance

India’s Adani denies sanctions evasion or Iran LPG trade after WSJ reports US probe

India’s Adani Group on Monday denied “any deliberate engagement” in sanctions evasion or trade involving...

Published 02 Jun, 2025 08:07pm

Business & Finance

Pakistan targets FY26 GDP growth of 4.2%: Ahsan Iqbal

ISLAMABAD: Pakistan is targeting GDP growth of 4.2% for the financial year 2025-26, the country’s Planning Minister...

Published 02 Jun, 2025 05:41pm

Business & Economy

FBR recovers Rs36.14bn in legal victories, including major win against Bahria Town

The Federal Board of Revenue (FBR) has made significant legal victories, including a major win against Bahria Town...

Published 02 Jun, 2025 05:15pm

Commodities

Gold price per tola surges Rs5,900 in Pakistan

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

Updated 02 Jun, 2025 06:35pm

Commodities

India cuts import tax on crude edible oils to help reduce food prices

MUMBAI: India halved the basic import tax on crude edible oils to 10% on Friday, the government said, as the world’s...

Published 02 Jun, 2025 03:54pm

Stocks

Indian benchmarks end lower as IT, metals outweigh growth boost

India’s equity benchmarks ended marginally lower on Monday, led by IT and metals stocks, as global trade concerns...

Published 02 Jun, 2025 03:51pm

Markets

Inflation in Pakistan rises to 3.5% in May 2025

CPI inflation average during 11MFY25 stands at 4.61%

Updated 02 Jun, 2025 08:07pm

Commodities

US copper futures surge as tariff fears loom

U.S. copper futures surged nearly 6% on Monday, widening their premium over London prices amid rising speculation...

Published 02 Jun, 2025 03:33pm

Technology

Microsoft to invest $400 million in Switzerland on AI, cloud computing

ZURICH: Microsoft will invest $400 million in Switzerland, the company said on Monday, with the money going towards...

Published 02 Jun, 2025 03:26pm

Commodities

India’s top miner tests local iron ore pricing; shift from global index, source says

NEW DELHI: India’s key iron ore producer NMDC is testing a new pricing formula for its output to shield its profits...

Published 02 Jun, 2025 03:19pm

Forex

US dollar declines as steel tariffs, China tensions hurt sentiment

The U.S. dollar fell against other major currencies on Monday, giving up some of the previous week’s gains, as...

Published 02 Jun, 2025 03:13pm

Commodities

Safe-haven rush lifts gold to one-week peak as trade, geopolitical risks intensify

Gold prices rose nearly 2% to a one-week high on Monday, driven by safe-haven demand as renewed U.S. tariff threats...

Published 02 Jun, 2025 03:08pm

Commodities

Aluminium premiums for US buyers soars after Trump doubles tariffs

LONDON: Premiums for consumers buying aluminium on the physical market in the United States soared on Monday after...

Published 02 Jun, 2025 03:06pm

Companies

India’s Maruti says no immediate impact from China rare earth magnet curbs

NEW DELHI: Maruti Suzuki, India’s top-selling carmaker, said on Monday there was no immediate production impact from...

Published 02 Jun, 2025 03:02pm

Middle East

ADNOC lowers Murban export forecast for August 2025 to May 2026

SINGAPORE: Abu Dhabi National Oil Co (ADNOC) has lowered its monthly export forecast for Murban crude from August to...

Published 02 Jun, 2025 02:58pm

Commodities

Japan rubber futures fall to over one-month low on firm seasonal supply outlook

SINGAPORE: Japanese rubber futures weakened for a fourth straight session on Monday, hitting their lowest in more...

Published 02 Jun, 2025 02:56pm

Financial

India bond yields resume decline as all eyes on RBI decision this week

MUMBAI: Indian government bond yields declined at the start of the week, in which the central bank is expected to...

Published 02 Jun, 2025 02:53pm

Forex

Indian rupee ends higher boosted by fragile dollar, likely portfolio inflows

MUMBAI: The Indian rupee strengthened on Monday, supported by weakness in the U.S. dollar and modest dollar inflows...

Updated 02 Jun, 2025 03:24pm

Stocks

South Korean shares flat ahead of election; chipmakers counter losses in steelmakers

KOSPI closed up 1.30 points, or 0.05%, at 2,698.97

Published 02 Jun, 2025 02:49pm

Forex

South African rand gains before manufacturing PMI, vehicle sales data

JOHANNESBURG: The South African rand gained some ground against a weaker dollar in early trade on Monday, ahead of a...

Published 02 Jun, 2025 02:47pm

Currency

Ugandan shilling stable on weak importer appetite

KAMPALA: The Ugandan shilling was steady in early trade on Monday compared with the previous session, underpinned by...

Published 02 Jun, 2025 02:45pm

Forex

Russian rouble weakens vs US dollar ahead of Ukraine talks

MOSCOW: The Russian rouble fell against the U.S. dollar on Monday ahead of a new round of talks between Russia and...

Published 02 Jun, 2025 02:44pm

Stocks

Japan’s Nikkei ends lower on worries about US-China trade tension, stronger yen

TOKYO: Japan’s Nikkei share average ended lower on Monday amid worries over trade tensions between the U.S. and...

Published 02 Jun, 2025 02:41pm

Stocks

Banks, energy weigh on Australia shares; Brickworks jumps on buyout deal

Australian shares fell on Monday, dragged by banks and energy stocks, as fresh flare-up in U.S.-China trade...

Published 02 Jun, 2025 02:40pm

Stocks

Most Gulf bourses trade lower as tariff tensions continue to weigh

Most stock markets in the Gulf were trading lower early on Monday as U.S.-China trade tensions continue to weigh on...

Published 02 Jun, 2025 02:38pm

Stocks

HK-listed Chinese shares near one-month low, offshore yuan weakens on tariff concerns

HONG KONG: Chinese stocks listed in Hong Kong slipped to near a one-month low on Monday and the offshore yuan...

Published 02 Jun, 2025 02:36pm

Forex

Weak dollar reprises its role as ‘carry’ trade funder

MUMBAI: The U.S. dollar’s weakness since the start of Donald Trump’s presidency has made it the preferred funding...

Published 02 Jun, 2025 01:59pm

Companies

European industry hit hard by Trump tariffs, Salzgitter CEO warns

DUESSELDORF/FRANKFURT: Salzgitter, Germany’s second-biggest steelmaker, on Monday warned that Washington’s tariff...

Published 02 Jun, 2025 01:55pm

Companies

Tesla not keen on local production in India, minister says

NEW DELHI: Tesla does not want to produce cars in India, a federal minister said on Monday, while adding that...

Published 02 Jun, 2025 01:50pm

Asia

Steelmakers in South Korea, Vietnam tumble on Trump’s new tariffs

SEOUL/SINGAPORE: Shares in South Korean and Vietnamese steelmakers, major Asian exporters of the metal to the United...

Published 02 Jun, 2025 01:34pm

Taxes

PM calls for third-party validation of FBR reforms

In a key development towards the government’s reform agenda, Prime Minister Shehbaz Sharif on Monday directed...

Updated 02 Jun, 2025 11:19pm

Stocks

European shares start lower after Trump’s fresh tariff threats

European shares opened lower on Monday, after rounding off monthly gains in May, as U.S. President Donald Trump’s...

Published 02 Jun, 2025 12:58pm

Companies

Sanofi to buy US biopharma group Blueprint for over $9 billion

PARIS: France’s Sanofi has agreed to buy U.S.-based Blueprint Medicines Corporation for over $9 billion to boost its...

Published 02 Jun, 2025 12:43pm

Stocks

Vopak’s Indian JV starts trading on Mumbai stock exchanges

Dutch tank storage group Vopak said on Monday its Indian joint venture, Aegis Vopak Terminals, started trading after...

Published 02 Jun, 2025 11:24am

Energy

Goldman Sachs sees OPEC+ raising oil output by 0.41 mb/d in August

Goldman Sachs anticipates the eight country OPEC+ oil group will implement a final 0.41 million barrels per day...

Published 02 Jun, 2025 11:21am

Energy

Pakistan Refinery receives EPCF bids for major expansion

Pakistan Refinery Limited (PRL) has received formal bids from companies interested in handling the Engineering,...

Published 02 Jun, 2025 11:18am

Budgets

Budget 26: Govt looking to boost export of ‘made in Pakistan’ mobile phones, say assemblers

Sources say governments are designing a policy similar to the Export Facilitation Scheme (EFS) which will incentivise the export of ‘made in Pakistan’ mobile phones

Published 02 Jun, 2025 11:17am

Energy

Oil leaps 4% after OPEC+ keeps output increase unchanged

LONDON: Oil prices jumped by about 4% on Monday after producer group OPEC+ kept output increases in July at the same...

Updated 02 Jun, 2025 08:17pm

Commodities

The top sources of US steel and aluminium imports

US President Donald Trump said on Friday he planned to double tariffs on steel and aluminium imports to 50% from...

Published 02 Jun, 2025 11:11am

Money & Banking

HSBC to inject $4 billion into its private credit funds

LONDON: Europe’s biggest bank HSBC will inject $4 billion into its private credit funds, amid a wider push by banks...

Published 02 Jun, 2025 11:07am

Companies

Qawi Naseer takes helm at Haleon Pakistan as CEO

Qawi Naseer has taken charge as the Chief Executive Officer (CEO) of Haleon Pakistan Limited, a consumer healthcare...

Published 02 Jun, 2025 10:56am

Stocks

Asia shares, dollar slip as tariff tensions darken mood

SYDNEY: Asian share markets and the dollar made a soft start on Monday as U.S.-China trade tensions continued to...

Published 02 Jun, 2025 10:55am

Currency

Rupee registers marginal improvement against US dollar

Currency settles at 281.97 against US dollar

Updated 02 Jun, 2025 06:57pm

Stocks

KSE-100 closes over 800 points lower on late-session selling

The Pakistan Stock Exchange (PSX) witnessed a volatile session on Monday, with the KSE-100 Index witnessing a...

Updated 02 Jun, 2025 11:38pm

Companies

BAJK signs MoU with Malaysian company Silverlake

ISLAMABAD: The Bank of Azad Jammu and Kashmir (BAJK) has signed a Memorandum of Understanding (MoU) with Silverlake,...

Updated 02 Jun, 2025 07:56am

Business & Finance

India’s annual growth hits four-year low of 6.5pc

MUMBAI: India’s economy grew by 6.5 percent in the fiscal year that ended in March, official data showed on ...