News Archives for Business & Finance - 2025-06-05

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Business & Finance - 2025-06-05

Business & Finance

Rs415 billion in losses raise alarms over tobacco enforcement

While regulators tighten the noose around Pakistan’s formal tobacco sector, the real threat is expanding in plain...

Published 05 Jun, 2025 10:26pm

Stocks

Mining stocks boost UK’s FTSE 100, midcaps hit turbulence

Britain’s benchmark FTSE 100 closed a shade higher on Thursday with mining stocks leading gains, tracking higher...

Published 05 Jun, 2025 09:30pm

Stocks

TSX edges higher amid US-China trade talks and upcoming jobs data

Canada’s main stock index rose on Thursday amid choppy trading, as investors assessed news of U.S.-China tariff...

Published 05 Jun, 2025 08:33pm

Stocks

Wall Street dips as Tesla falls, investors focus on jobs data

US stocks dipped on Thursday, dragged down by Tesla’s shares, while investors looked ahead to the monthly jobs...

Published 05 Jun, 2025 08:12pm

Markets

K-Electric write-offs: NEPRA allows Rs50 billion as ‘full and final claim’

Utility asked to submit certificate from its auditors each year, clearly mentioning recovery of written off amounts, if any, pertaining to Multi-Year Tariff 2017-2023

Published 05 Jun, 2025 07:48pm

Money & Banking

JPMorgan wins UK court order to block VTB’s $156 million Russian lawsuits

LONDON: JPMorgan Chase on Thursday won its bid to block Russia’s VTB Bank suing it in Russia over nearly $156...

Published 05 Jun, 2025 06:59pm

Forex

Sterling holds its own against stronger dollar, trade optimism lends supports

LONDON: Sterling ticked higher against the dollar on Thursday, one of the few major currencies to hold its own...

Published 05 Jun, 2025 06:52pm

Companies

India’s Bajaj Finserv founding firms to sell 1.6% stake for $554 million

The founding firms of India’s Bajaj Finserv will sell at least a 1.58% stake they own in the financial services...

Published 05 Jun, 2025 06:46pm

Companies

Gucci owner Kering in talks to sell stake in $1 billion Fifth Avenue property, sources say

PARIS/MILAN: Gucci owner Kering is in exclusive talks with buyout group Ardian about the sale of a stake in a...

Published 05 Jun, 2025 06:43pm

Money & Banking

Credit Suisse, SoftBank fight over Greensill losses in $440mn London lawsuit

LONDON: Credit Suisse’s $440 million London lawsuit against Japan’s SoftBank Group Corp kicked off on Thursday over...

Published 05 Jun, 2025 06:40pm

USA

US weekly jobless claims rise for second straight week

WASHINGTON: The number of Americans filing new applications for unemployment benefits last week increased for a...

Published 05 Jun, 2025 06:30pm

Stocks

Sri Lanka shares climb as all sectors but IT show gains

CSE All-Share index settled up 0.47% at 17,434.94

Published 05 Jun, 2025 06:26pm

Companies

Mercedes-Benz proposes tariff offset system with US, Spiegel reports

BERLIN: Mercedes-Benz has proposed a deal under which U.S. cars could be imported into Europe duty free in exchange...

Published 05 Jun, 2025 06:23pm

Money & Banking

Goldman Sachs pares risk after tariff move, braces for more uncertainty

NEW YORK: Goldman Sachs has moderated its risk-taking since U.S. President Donald Trump’s April tariff announcement,...

Published 05 Jun, 2025 06:19pm

Commodities

Wheat up 2-4 cents, corn up 1-3 cents, soy down 2-4 cents

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

Published 05 Jun, 2025 06:16pm

Companies

Apple gives Tata India iPhone repair business as partnership expands

BENGALURU: Apple has brought in Tata Group to handle repairs for iPhones and MacBook devices in its fast-growing...

Published 05 Jun, 2025 06:10pm

Companies

India plans rare earth magnet incentives as supply threat mounts

NEW DELHI: India is holding talks with companies to establish long-term stockpiles of rare earth magnets by offering...

Published 05 Jun, 2025 06:05pm

Financial

India’s favoured 5-year bond trade loses steam with rate cuts priced in, fund managers say

MUMBAI: A widely popular strategy of investing in India’s five-year government bonds is losing its appeal as the...

Published 05 Jun, 2025 06:00pm

Commodities

EU has existing tools to reduce pain of steel tariffs, Thyssenkrupp executive says

BRUSSELS: Europe already has tools to reduce the impact of Trump tariffs and Chinese over-capacity on the EU steel...

Published 05 Jun, 2025 05:57pm

Commodities

South Korea’s MFG buys estimated 199,000 tons corn, traders say

HAMBURG: South Korea’s Major Feedmill Group (MFG) purchased an estimated 199,000 metric tons of animal feed corn in...

Published 05 Jun, 2025 05:55pm

Commodities

Asia rice: Indian rates fall to two-year low on robust rains, weaker rupee

Indian rice export prices fell to their lowest level in two years this week due to depreciation of the rupee and...

Published 05 Jun, 2025 05:52pm

South Asia

India, US push to finalise interim tariff deal as Trump’s deadline nears

NEW DELHI: Indian and U.S. are holding high-level talks this week, aiming to finalise tariff cuts in sectors such as...

Published 05 Jun, 2025 05:42pm

Companies

Walmart’s Flipkart secures approval for direct lending in India

Walmart’s Flipkart has secured a lending licence from the Indian central bank and banking regulator, enabling it to...

Published 05 Jun, 2025 05:37pm

Commodities

Gold price per tola surges Rs4,300 in Pakistan

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

Published 05 Jun, 2025 04:55pm

Stocks

Reliance, rate-sensitive sectors lead Indian shares higher, RBI decision in focus

India’s benchmark indexes rose on Thursday, led by heavyweight Reliance Industries and rate-sensitive sectors such...

Published 05 Jun, 2025 04:50pm

Commodities

Copper hits two-month high on supply worries, declining LME stocks

LONDON: Copper prices hit their strongest in two months on Thursday, boosted by speculators after copper broke...

Published 05 Jun, 2025 04:43pm

Forex

China’s yuan holds firm as traders await US-China talks

HONG KONG: China’s yuan hovered around its strongest level against the US dollar in nearly two weeks on Thursday,...

Published 05 Jun, 2025 03:34pm

Forex

Kenyan shilling flat against dollar, LSEG data shows

The shilling traded at 129.00/40 per dollar

Published 05 Jun, 2025 03:31pm

Stocks

London stocks mixed as markets brace for ECB rate decision

Britain’s benchmark FTSE 100 index edged higher on Thursday, while mid-caps retreated as investors awaited the...

Published 05 Jun, 2025 03:29pm

Commodities

Palm ends lower on weaker rival edible oils, profit booking

JAKARTA: Malaysian palm oil futures extended losses on Thursday, snapping a two-session rally, as investors booked...

Published 05 Jun, 2025 03:26pm

Industry

CCP grants six exemptions to pharma sector

The Competition Commission of Pakistan (CCP) has granted six exemptions to undertakings in the pharmaceutical sector...

Published 05 Jun, 2025 03:24pm

Business & Finance

Prada acquires 10% stake in Italian leather group Rino Mastrotto

MILAN: Prada said on Thursday it acquired a 10% stake in Italian leather group Rino Mastrotto, as the luxury group...

Published 05 Jun, 2025 01:27pm

Mutual Funds

Euro zone bond yields muted ahead of ECB policy rate decision

Euro zone bond yields were little changed on Thursday as markets eyed an expected interest rate cut from the...

Published 05 Jun, 2025 01:24pm

Commodities

Iron ore dips as focus shifts to softening China steel demand

BEIJING: Iron ore futures dipped on Thursday, as the focus shifted back to softening steel consumption in top...

Published 05 Jun, 2025 01:18pm

Business & Finance

China’s BYD to nearly triple South Africa dealers’ network by next year

JOHANNESBURG: Chinese electric-vehicle giant BYD plans to nearly triple its dealership network in South Africa by...

Published 05 Jun, 2025 01:14pm

Stocks

European shares edge higher ahead of ECB policy decision

European shares traded slightly higher on Thursday, supported by strength in automakers and industrial metal miners...

Published 05 Jun, 2025 01:09pm

Business & Finance

Procter & Gamble to cut 7,000 jobs over two years

Procter & Gamble said on Thursday it would cut 7,000 jobs, or about 15% of its non-manufacturing roles, globally...

Published 05 Jun, 2025 01:05pm

Money & Banking

SBP grants nationwide license to Halan Microfinance Bank

The State Bank of Pakistan (SBP) has granted a nationwide microfinance banking license to “Halan Microfinance Bank...

Published 05 Jun, 2025 12:48pm

Business & Finance

Citi to cut 3,500 tech jobs in China in global revamp

HONG KONG: Citigroup Inc will reduce the number of employees at two of its technology centres in China by about...

Published 05 Jun, 2025 12:35pm

Business & Finance

Trade war is tougher threat than COVID for emerging market cenbanks, IMF says

The shock from trade war brings differential effects for central banks in emerging markets, in contrast with the...

Published 05 Jun, 2025 12:32pm

Companies

Engro Fertilizers shuts down EnVen plant for unscheduled maintenance

Engro Fertilizers Limited (EFERT) has temporarily shut down its EnVen plant in Daharki, Sindh, due to unscheduled...

Published 05 Jun, 2025 12:19pm

Mutual Funds

Japan 30-year bond auction bid-to-cover ratio 2.92, lowest since December 2023

TOKYO: Demand at a sale of 30-year Japanese government bond yields saw the lowest demand since December 2023 on...

Published 05 Jun, 2025 11:32am

Energy

Global energy investment set to hit record $3.3 trillion in 2025, IEA says

PARIS: A surge in clean energy spending is expected to drive a record $3.3 trillion (2.89 trillion euros) in global...

Published 05 Jun, 2025 11:29am

Stocks

KSE-100 closes nearly 160 points lower after mixed trading

A day after hitting an all-time high, the Pakistan Stock Exchange (PSX) witnessed mixed trading on Thursday, as its...

Updated 05 Jun, 2025 10:23pm

Markets

Gold steady as traders await US payroll data for economic cues

Gold prices were stable on Thursday as investors assessed weaker-than-expected US data and ongoing global economic...

Published 05 Jun, 2025 11:18am

Commodities

Wheat rises for 2nd session on Black Sea, China supply woes

SINGAPORE: Chicago wheat futures rose on Thursday, supported by the escalating conflict between major grain...

Published 05 Jun, 2025 11:16am

Commodities

Copper inches higher on weaker dollar; tariff developments in focus

London copper prices inched up on Thursday amid a weakening US dollar, while the market focus remained on a series...

Published 05 Jun, 2025 11:12am

Stocks

Asian shares creep higher, dollar languishes before ECB

TOKYO: Shares in Asia crept higher and the US dollar languished ahead of the European Central Bank offering its...

Published 05 Jun, 2025 11:10am

Forex

September Fed rate cut bets undermine dollar, handing Indian rupee a breather

MUMBAI: The Indian rupee is set to open slightly higher on Thursday, aided by a decline in the US dollar after...

Published 05 Jun, 2025 11:04am

Stocks

India’s equity benchmarks rise, led by gains in pharma, Reliance Industries

India’s benchmark indexes climbed in early trade on Thursday, led by gains in pharmaceutical stocks and heavyweight...

Published 05 Jun, 2025 11:01am

Business & Finance

Suzuki Motor halted Swift car production due to China’s rare earth curb, Nikkei says

TOKYO: Suzuki Motor halted production of its Swift model cars in Japan since May 26 due to China’s rare earth...

Published 05 Jun, 2025 10:51am

Forex

Aussie little troubled by soft data, kiwi eyes 7-month top

SYDNEY: The Australian dollar was little troubled by soft data on Thursday as fears of a tariff-induced slowdown in...

Published 05 Jun, 2025 10:48am

Stocks

South Korean shares rise to near 11-month high on post-election optimism

The benchmark KOSPI was up 49.66 points, or 1.79%, at 2,820.50

Published 05 Jun, 2025 10:46am

Stocks

Japanese shares slip on caution over US economic outlook, stronger yen

TOKYO: Japanese shares slipped on Thursday as weak US economic data stoked caution toward the outlook of the world’s...

Published 05 Jun, 2025 10:41am

Stocks

Australia shares on track for third-consecutive gaining day as rate cut bets rise

Australian shares were set to extend their wins into a third successive day on Thursday, buoyed by rising...

Published 05 Jun, 2025 10:39am

Forex

Dollar feeble on soft economic data, trade uncertainties

SINGAPORE: The dollar drifted in muted trading on Thursday after weak US economic data revived fears of slow growth...

Published 05 Jun, 2025 10:35am

Energy

Oil rises 1% as China, U.S. teams to meet following Trump, Xi trade call

HOUSTON: Oil prices rose 1% on Thursday, rebounding from the previous day’s drop as traders responded to news that...

Updated 05 Jun, 2025 09:38pm

Currency

Rupee gains against US dollar

Currency settles at 282.17 against US dollar

Updated 05 Jun, 2025 08:43pm

Industry

Commerce minister says committed to boosting pharma exports

ISLAMABAD: Federal Minister for Commerce Jam Kamal Khan reaffirmed his commitment to boosting pharmaceutical ...

Updated 05 Jun, 2025 07:30am

Companies

NBP surpasses Rs100bn financing

KARACHI: National Bank of Pakistan (NBP) has achieved a major milestone, surpassing Rs 100 billion in total...

Updated 05 Jun, 2025 07:30am

Taxes

Tola suggests MAT via CVT

LAHORE: Taxonomist Ashfaq Yousuf Tola has suggested introduction of Minimum Asset Tax (MAT) via Capital Value Tax...

Published 05 Jun, 2025 06:53am

Companies

Smallholder farmers: HZSL signs strategic MoU with Bayer Pakistan

LAHORE: HBL Zarai Services Limited (HZSL), a wholly owned subsidiary of Habib Bank Limited (HBL), has entered into a...

Published 05 Jun, 2025 06:49am

Industry

CCP approves foreign acquisition in advertising and media firms

ISLAMABAD: The Competition Commission of Pakistan (CCP) has granted approval for three separate merger transactions,...

Published 05 Jun, 2025 06:46am

Industry

Agri sector witnesses dramatic slowdown: PKIC

ISLAMABAD: The country’s agriculture sector has witnessed a dramatic slowdown, with growth dropping to 0.56 ...

Published 05 Jun, 2025 06:44am

Industry

Local pharma industry: Govt urged to create conducive environment

ISLAMABAD: The All Pakistan Pharmaceutical Manufacturers Association (PPMA) has urged the government to create...

Published 05 Jun, 2025 06:39am

Industry

LCCI demands cut in DC rates, curbs on sealing of industries

LAHORE: The Lahore Chamber of Commerce and Industry has raised serious concerns about the plight of industrial units...

Published 05 Jun, 2025 06:37am

Business & Finance

Used by foreign missions: No additional duties on resale of locally purchased vehicles: FTO

ISLAMABAD: The Federal Tax Ombudsman Secretariat (FTO) on Wednesday conveyed to embassies and foreign missions that...

Published 05 Jun, 2025 06:08am

Cotton & Textile

Punjab seeks tax relief for cotton industry

LAHORE: Punjab Agriculture Minister Syed Ashiq Hussain Kirmani disclosed on Wednesday that talks are underway with...

Published 05 Jun, 2025 06:08am

Money & Banking

Trade worries weigh on Asia FX

BENGALURU: South Korean shares jumped to a 10-month high and the won firmed on Wednesday after liberal candidate Lee...

Published 05 Jun, 2025 06:08am

Money & Banking

Dollar slips after data disappoints

NEW YORK: The dollar fell across the board on Wednesday after weaker-than-expected US private payrolls data...

Published 05 Jun, 2025 06:08am

Companies

Pakistan’s manufacturing PMI falls amid geopolitical unrest & supply disruptions

KARACHI: The headline HBL Pakistan Manufacturing PMI fell to an 8-month low of 51.1 in May from 51.9 in April,...

Published 05 Jun, 2025 06:08am

Industry

KCCI urges govt to re-evaluate its energy procurement & pricing strategies

KARACHI: President Karachi Chamber of Commerce & Industry (KCCI), Muhammad Jawed Bilwani, has called upon the...

Published 05 Jun, 2025 06:08am

Industry

Cigarette-making co proposes adjustable excise duty of Rs4000/kg on cigarette paper

ISLAMABAD: A leading multinational cigarette manufacturing company has proposed Federal Board of Revenue (FBR) to...

Published 05 Jun, 2025 06:08am

Budget 2025-26

PBF seeks 18pc GST exemption on yarn, fabric

KARACHI: The Pakistan Business Forum (PBF) has called on the federal government to exempt yarn and fabric from the...

Published 05 Jun, 2025 06:08am

Companies

PQAMC announces monthly dividend

KARACHI: Pak-Qatar Asset Management Company Limited (PQAMC) has announced the monthly dividend of Pak-Qatar Monthly...

Published 05 Jun, 2025 06:08am

Companies

SAAKH Pharmaceutical to invest Rs1bn in new plant

KARACHI: In a pharmaceutical innovation, SAAKH Group has announced an investment of over PKR 1 billion to develop...

Published 05 Jun, 2025 06:08am

Industry

SECP study outlines strategic roadmap reshaping Takaful sector

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has published a comprehensive study titled...

Published 05 Jun, 2025 06:08am

Business & Finance

‘ST imposition under EFS will sabotage export industry’

FAISALABAD: Addressing at a press conference, Senior Vice Chairman of the Pakistan Hosiery Manufacturers &...

Published 05 Jun, 2025 06:08am

Business & Finance

Pakistan telecom sector seeks sales tax reduction on services

ISLAMABAD: Telecom sector has proposed the government to reduce sales tax on telecom services from the current 19.5...

Updated 05 Jun, 2025 10:56am

Business & Finance

Bilal meets Trump Council boss

WASHINGTON: Minister of State for Crypto and Blockchain Bilal bin Saqib met with Executive Director of President...

Published 05 Jun, 2025 06:08am

Energy

KAPCO signs TPPA with CPPA-G, NGCPL

KARACHI: Kot Addu Power Company Limited (KAPCO) has signed a Tri-Partite Power Purchase Agreement (TPPA) with ...

Published 05 Jun, 2025 06:08am

Previous Day

BR100
BR30
KSE100
KSE30
KMI30

1D 5D 3M 6M 1Y

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Jun 5	278.61
USD PKR Interbank Buying / Jun 5	278.41
USD to Japanese Yen / Jun 5	160.29
USD to Swiss Franc / Jun 5	0.80
Pound Sterling to USD / Jun 5	1.33
Euro to USD / Jun 5	1.15
SOFR % / Jun 7	3.63

Stock	Volume
S&P 500 / Jun 5	7,383.74
India Sensex / Jun 5	74,243.34
Tokyo Nikkei / Jun 5	66,588.12
Nasdaq / Jun 5	25,709.43
Hang Seng / Jun 5	24,961.95
FTSE 100 / Jun 5	10,368.05
Dow Jones / Jun 5	50,866.78
Germany DAX 30 / Jun 5	24,759.05
France CAC40 / Jun 5	8,218.24

Item	Value
Crude Oil USD/Barrel / Jun 5	90.54
Gold 10 Grams PKR / Jun 5	401,012
Gold Spot USD/Ounce / Jun 5	4,328.45
Cotton US¢/pound / Jun 5	77.48
Petrol/Litre / Jun 8	377.78
Diesel/Litre / Jun 8	380.78

Gainers
Losers
Leaders

Stock	Price
First Fid. Leasing / Jun 5 First Fidelity Leasing Modaraba(FFLM)	7.76 ▲ 1 (14.79%)
Dadabhoy Cement / Jun 5 Dadabhoy Cement Industries Limited(DBCI)	8.16 ▲ 1 (13.97%)
Gulistan Sp. / Jun 5 Gulistan Spinning Mills Limited(GUSM)	8.03 ▲ 0.97 (13.74%)
Paramount Spinning / Jun 5 Paramount Spinning Mills Limited(PASM)	8.41 ▲ 1 (13.5%)
Waves Home Appliances / Jun 5 Waves Home Appliances Limited(WAVESAPP)	8.98 ▲ 1 (12.53%)
First Capital Equities / Jun 5 First Capital Equities Limited(FCEL)	5.30 ▲ 0.52 (10.88%)
Merit Packaging / Jun 5 Merit Packaging Limited(MERIT)	10.35 ▲ 1 (10.7%)
D.S. Ind. Ltd. / Jun 5 D.S. Industries Limited(DSIL)	11.19 ▲ 1.02 (10.03%)
Askari Life Assur. / Jun 5 Askari Life Assurance Company Limited(ALAC)	23.28 ▲ 2.12 (10.02%)
Waves Corporation / Jun 5 Waves Corporation Limited(WAVES)	10.98 ▲ 1 (10.02%)

Stock	Price
F.Credit & Inv / Jun 5 First Credit and Investment Bank Limited(FCIBL)	40.49 ▼ -4.5 (-10%)
Shahzad Tex. / Jun 5 Shahzad Textile Mills Limited(SZTM)	66.80 ▼ -7.4 (-9.97%)
Ghazi Fabrics / Jun 5 Ghazi Fabrics International Limited(GFIL)	29.96 ▼ -2.48 (-7.64%)
Shams Textile / Jun 5 Shams Textile Mills Limited(STML)	38.17 ▼ -2.48 (-6.1%)
Bela Auto / Jun 5 Bela Automotives Limited(BELA)	55.85 ▼ -3.14 (-5.32%)
Tandlianwala Sugar / Jun 5 Tandlianwala Sugar Mills Limited(TSML)	385.55 ▼ -19.67 (-4.85%)
Sana Ind / Jun 5 Sana Industries Limited(SNAI)	39.70 ▼ -2.02 (-4.84%)
Dewan Textile / Jun 5 Dewan Textile Mills Limited(DWTM)	9.65 ▼ -0.48 (-4.74%)
JS Investments / Jun 5 JS Investments Limited(JSIL)	40.01 ▼ -1.99 (-4.74%)
Frontier Ceramics / Jun 5 Frontier Ceramics Limited(FRCL)	75.03 ▼ -3.61 (-4.59%)

Stock	Volume
TPL Properties / Jun 5 TPL Properties Limited(TPLP)	42,057,629 ▲ 0.57
TPL Corp Ltd / Jun 5 TPL Corp Limited(TPL)	41,999,765 ▲ 0.49
Pace (Pak) Ltd. / Jun 5 Pace (Pakistan) Limited(PACE)	41,811,517 ▲ 0.9
Beco Steel Ltd / Jun 5 Beco Steel Limited(BECO)	26,493,657 ▼ -0.2
Hascol Petrol / Jun 5 Hascol Petroleum Limited(HASCOL)	23,842,888 ▼ -0.01
Pervez Ahmed Consultancy / Jun 5 Pervez Ahmed Consultancy Services Ltd.(PASL)	22,157,441 ▲ 0.08
WorldCall Telecom / Jun 5 Worldcall Telecom Limited(WTL)	18,104,460 ▲ 0.02
Waves Home Appliances / Jun 5 Waves Home Appliances Limited(WAVESAPP)	17,319,572 ▲ 1
B.O.Punjab / Jun 5 The Bank of Punjab(BOP)	15,286,456 ▼ -0.46
Unity Foods Ltd / Jun 5 Unity Foods Limited(UNITY)	15,013,265 ▼ -0.11

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