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

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Business & Finance - 2025-06-06

Forex

Surprise jobs gain helps Canadian dollar hold on to weekly move higher

TORONTO: The Canadian dollar edged lower against its U.S. counterpart on Friday but was holding on to a weekly gain,...

Published 06 Jun, 2025 09:14pm

Stocks

Wall Street rises on jobs data optimism; Tesla rebounds

US stocks rose on Friday after a better-than-expected jobs report calmed worries about the economy, while Tesla...

Published 06 Jun, 2025 08:29pm

Stocks

TSX set for record high after US jobs data, trade optimism

Canada’s main stock index was headed for a record high on Friday, as a better-than-expected U.S. jobs report and...

Published 06 Jun, 2025 08:25pm

Commodities

Wheat flat-to-up 2 cents, corn down 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 06 Jun, 2025 07:16pm

South Asia

India, central Asian countries express interest in joint rare earths exploration

NEW DELHI: India and five central Asian countries have expressed interest in joint exploration of rare earths and...

Published 06 Jun, 2025 07:01pm

Commodities

China allows imports of rapeseed meal, soybean meal from Uruguay

BEIJING: China has allowed the import of rapeseed meal and soybean meal from Uruguay, effective immediately, the...

Published 06 Jun, 2025 06:58pm

Markets

US fund taps Pakistani tech duo with $10mn to lead startup investment initiative

The JR Dallas Tech Fund has announced $10 million investment to Pakistani technology leaders Mehwish Salman Ali and...

Published 06 Jun, 2025 06:37pm

Companies

India’s Bajaj Holdings sells stake worth $234 million in Bajaj Finserv via block deal

Bajaj Holdings and Investment said on Friday that it sold a 0.65% stake in financial services firm Bajaj Finserv for...

Published 06 Jun, 2025 04:41pm

Energy

Russian Urals oil to India sells at narrowest discounts since 2022, traders say

MOSCOW/NEW DELHI: Discounts for Russian flagship Urals crude oil for delivery to Indian ports in July hit their...

Published 06 Jun, 2025 04:39pm

Energy

India’s GAIL sells LNG cargo as early monsoons cause weak power demand, say sources

SINGAPORE: GAIL (India) Ltd has re-sold one liquefied natural gas (LNG) cargo this week, said three market sources...

Published 06 Jun, 2025 04:35pm

Money & Banking

Ukraine’s foreign currency reserves slip to $44.5bn as of June 1

KYIV: Ukraine’s foreign currency reserves slipped to $44.5 billion as of June 1 due to foreign debt payments and...

Published 06 Jun, 2025 04:31pm

Money & Banking

Russian central bank cuts key rate by 1 percentage point to 20%

MOSCOW: The Russian central bank cut its key interest rate by one percentage point to 20% on Friday, saying economic...

Published 06 Jun, 2025 04:28pm

Europe

EU open to lowering tariffs on US fertilisers in trade talks

BRUSSELS: The European Union is open to lowering tariffs on U.S. fertiliser imports as an offer in trade talks with...

Published 06 Jun, 2025 04:25pm

Forex

UK to end ban on retail investors buying crypto exchange-traded notes

LONDON: Britain’s financial regulator is to remove a ban on consumers buying crypto exchange-traded notes (ETNs),...

Published 06 Jun, 2025 04:16pm

Financial

Euro zone bond yields ease ahead of key US jobs data

Euro zone bond yields eased ahead of key U.S. jobs data on Friday, a day after they spiked following a signal from...

Published 06 Jun, 2025 04:12pm

Stocks

India’s benchmark Nifty 50 logs best day in three weeks on RBI’s bumper policy support

India’s benchmark Nifty 50 logged its best day in three weeks as investors rallied behind the central bank’s bumper...

Published 06 Jun, 2025 04:07pm

Commodities

Palm rallies for fourth straight week despite output, stock worries

KUALA LUMPUR: Malaysian palm oil futures settled higher on Friday, reversing midday losses to loga fourth...

Published 06 Jun, 2025 04:05pm

Business & Finance

Moody’s cuts Nissan corporate family rating to Ba2

TOKYO: Global ratings agency Moody’s on Friday cut Nissan Motor Co Ltd’s (7201.T), opens new tab corporate family...

Published 06 Jun, 2025 02:45pm

Technology

Pakistan’s crypto chief meets New York City mayor, pushes for global blockchain cooperation

Shared challenges, approaches to growing digital asset economy discussed

Updated 06 Jun, 2025 09:50pm

Business & Finance

Swiss National Bank denies currency manipulation after being put on U.S. watch list

ZURICH: The Swiss National Bank said on Friday it would intervene in foreign currency markets where necessary to...

Published 06 Jun, 2025 02:23pm

Business & Finance

UBS hires tech bankers Larsen, Michlovich from BofA in New York

NEW YORK: UBS hired two technology investment bankers in New York from Bank of America, according to a memo seen by...

Published 06 Jun, 2025 02:00pm

Stocks

European shares flat as investors cautious ahead of US jobs data

European shares were little changed on Friday, as investors refrained from placing major bets ahead of crucial U.S....

Published 06 Jun, 2025 12:21pm

Business & Finance

China’s exports likely slowed in May amid trade uncertainties

BEIJING: Growth in China’s exports likely slowed in May despite a lowering of U.S. tariffs on Chinese goods, as the...

Published 06 Jun, 2025 11:24am

Business & Finance

India focuses on growth with larger-than-expected 50 bps cut in key rate; slashes reserve ratio

MUMBAI: The Reserve Bank of India (RBI) cut its key repo rate by a larger-than-expected 50 basis points on Friday, a...

Published 06 Jun, 2025 11:19am

Business & Finance

Nippon Steel, US seek 8-day pause in litigation to resolve deal concerns

WASHINGTON: Nippon Steel and the Trump administration on Thursday asked a U.S. appeals court to extend a pause in...

Published 06 Jun, 2025 11:13am

Technology

OpenAI appeals data preservation order in NYT copyright case

OpenAI is appealing an order in a copyright case brought by the New York Times that requires it to preserve ChatGPT...

Published 06 Jun, 2025 11:09am

Stocks

Trump-Musk row slams Tesla shares, $150 billion in market value wiped out

Tesla shares went into free-fall on Thursday as President Donald Trump publicly feuded with the electric vehicle...

Updated 06 Jun, 2025 07:40pm

Forex

Indian rupee ends higher as rate-cut boost for equities blunts dollar strength

MUMBAI: The Indian rupee strengthened modestly on Friday as the Reserve Bank of India’s steepest rate cut in five...

Updated 06 Jun, 2025 04:44pm

Markets

Gold rises as weak US data outweighs optimism from Trump-Xi call

Gold rose on Friday and was set for weekly gains, as a spate of soft U.S. economic data outweighed initial optimism...

Published 06 Jun, 2025 09:27am

Stocks

Indian shares muted ahead of RBI policy decision

The Nifty 50 fell 0.02% to 24,746.95, while the BSE Sensex lost 0.09% to 81,381.77

Published 06 Jun, 2025 09:22am

Energy

Oil prices headed for rebound this week as US-China trade talks resume

LONDON: Oil prices steadied on Friday and were on track for their first weekly gain in three weeks after U.S....

Updated 06 Jun, 2025 06:21pm

Forex

Dollar mired in US economic weakness and trade limbo

SINGAPORE: The dollar was headed for a weekly loss on Friday, undermined by signs of fragility in the U.S. economy...

Published 06 Jun, 2025 09:16am

Stocks

Stocks on guard for payrolls, Tesla tumbles as Trump-Musk bromance sours

SYDNEY: Asian shares were subdued on Friday as investors hunkered down for the all-important payrolls report, while...

Published 06 Jun, 2025 09:13am

Companies

12 cities nationwide: JazzCash facilitating QR-based payments at 27 cattle markets

ISLAMABAD: JazzCash is facilitating QR-based payments at 27 cattle markets across 12 cities nationwide -- initiative...

Published 06 Jun, 2025 06:12am

Industry

KP govt, cement industry agree to increase cement royalty

PESHAWAR: The Khyber Pakhtunkhwa government and cement industry have agreed on increasing cement royalty per ton ...

Published 06 Jun, 2025 06:10am

Industry

ST returns filing: PCDMA concerned at FBR’s new requirement

KARACHI: The Pakistan Chemical & Dyes Merchants Association (PCDMA) has raised serious concerns about...

Published 06 Jun, 2025 06:05am

Pakistan

Punjab to complete distribution of 5,000 super seeders

LAHORE: The Punjab government is set to complete the distribution of 5,000 super seeders soon across rice-growing...

Published 06 Jun, 2025 05:47am

Companies

Countrywide expansion: Halan receives licence from State Bank of Pakistan

KARACHI: Halan Microfinance Bank (“the Bank”), a Pakistani microfinance bank owned by MNT-Halan, Egypt and the...

Updated 06 Jun, 2025 07:08am

Energy

Nepra allows partial claims in response to KE write-off petition

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has issued its decision on K-Electric’s...