News Archives for Business & Finance - 2025-06-18

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Business & Finance - 2025-06-18

USA

Fed keeps rates unchanged, sees two cuts in 2025 but less easing in later years

WASHINGTON: The Federal Reserve held interest rates steady on Wednesday and policymakers signaled borrowing costs...

Published 18 Jun, 2025 11:12pm

Markets

Power sector: federal cabinet approves Rs1.275trn bank loan to cut circular debt

Loan aims to offset a portion of circular debt that currently stands at approximately Rs2.4 trillion

Published 18 Jun, 2025 10:32pm

Stocks

UK stocks end slightly higher after inflation data; focus on Fed, BoE meetings

Britain’s FTSE 100 rose on Wednesday as investors weighed the last domestic inflation reading ahead of key central...

Published 18 Jun, 2025 09:51pm

Stocks

European shares fall as Middle East tensions weigh; eyes on Fed decision

European shares declined on Wednesday as investors awaited the Federal Reserve’s monetary policy decision, with...

Published 18 Jun, 2025 09:49pm

Markets

Pakistan secures $1 billion financing facility with ADB-backed guarantee

5-year multi-tranche facility includes both Islamic and conventional tranches

Updated 19 Jun, 2025 12:03am

Companies

EV hopes hit by China rare earths curbs

China’s curbs on exports of some rare earth materials and magnets - used in automobiles, cell phones and myriad...

Published 18 Jun, 2025 09:01pm

Commodities

Indian refiners cancel palm oil orders for July-Sept as prices surge

MUMBAI: Indian refiners cancelled orders for 65,000 metric tons of crude palm oil (CPO) scheduled for delivery from...

Published 18 Jun, 2025 08:54pm

Markets

PIA resumes Lahore-Paris flights after 5 years

The Pakistan International Airlines (PIA) resumed on Wednesday direct flights from Lahore to Paris after a gap of...

Published 18 Jun, 2025 08:47pm

Commodities

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

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

Published 18 Jun, 2025 07:46pm

Stocks

Most Gulf markets in red as Israel-Iran conflict escalates

Most stock markets in the Gulf ended lower on Wednesday with investors exercising restraint due to fighting between...

Published 18 Jun, 2025 07:42pm

Companies

Nippon Steel’s acquisition of US Steel closes, with big role for Trump

Nippon Steel’s $14.9 billion acquisition of U.S. Steel closed on Wednesday, the companies said, confirming an...

Published 18 Jun, 2025 07:38pm

Financial

India markets regulator eases rules for foreign investors who only buy government bonds

MUMBAI: India’s markets regulator on Wednesday reduced the regulatory requirements for foreign investors who invest...

Published 18 Jun, 2025 07:33pm

Stocks

Wall Street edged higher ahead of Fed’s interest rate verdict

Wall Street’s main indexes ticked up on Wednesday, as investors awaited the Federal Reserve’s monetary policy...

Published 18 Jun, 2025 07:19pm

Business & Finance

K-Electric, K-Solar say partnered with Huawei Technologies for ‘smart energy solutions’

K-Electric (KE) and K-Solar – a wholly-owned subsidiary of KE – has signed a memorandum of understanding (MoU) with...

Updated 18 Jun, 2025 07:19pm

Business & Finance

Digital sales tax stays with provinces, solar GST cut to 10%: Dar

Deputy Prime Minister and Foreign Minister, Senator Muhammad Ishaq Dar on Wednesday said that the digital sales tax...

Published 18 Jun, 2025 06:07pm

USA

US weekly jobless claims fall, but still elevated

WASHINGTON: The number of Americans filing new applications for unemployment benefits fell last week, but stayed at...

Published 18 Jun, 2025 05:47pm

Financial

Euro zone bond yields steady before Fed, traders await new catalysts

LONDON: Euro zone bond yields held steady on Wednesday with traders awaiting the outcome of the Federal Reserve...

Published 18 Jun, 2025 05:34pm

Energy

Nigeria to export first gasoline cargo to Asia from Dangote refinery, source says

A 90,000 metric ton cargo of gasoline from Nigeria’s Dangote refinery will be sold out of the region for the first...

Published 18 Jun, 2025 05:30pm

Money & Banking

India audit watchdog to complete probe of Gensol, IndusInd Bank within six months, official says

NEW DELHI: The Financial Reporting Review Board (FRRB) will complete its probe into audit reports of Gensol...

Published 18 Jun, 2025 05:26pm

Commodities

Chicago soybeans slip after three-day rally

BEIJING/PARIS: Chicago soybean futures eased on Wednesday as traders booked profits after a three-day price rally...

Published 18 Jun, 2025 05:18pm

Financial

Indian bond yields little changed as focus remains on oil moves

MUMBAI: Indian government bond yields ended largely unchanged on Wednesday as market participants closely tracked...

Published 18 Jun, 2025 05:14pm

Stocks

Indian shares inch lower weighed by Mideast conflict; Fed policy awaited

Indian shares closed lower on Wednesday, as escalating hostilities in the Middle East dampened investor sentiment...

Published 18 Jun, 2025 05:00pm

Stocks

Broad-based losses drag Sri Lankan shares lower

CSE All-Share Index settled 1.22% lower at 17,071.44

Published 18 Jun, 2025 04:58pm

Commodities

Copper steady ahead of Fed decision, focus on Middle East

LONDON: Copper prices steadied on Wednesday due to a softer dollar ahead of a Federal Reserve decision on U.S....

Published 18 Jun, 2025 04:56pm

Commodities

Palm rises tracking rival soyoil, weaker ringgit

JAKARTA: Malaysian palm oil futures closed higher on Wednesday, supported by gains in rival soyoil in Dalian and...

Published 18 Jun, 2025 04:51pm

Bullion Rate

Gold price per tola further falls Rs2,245 in Pakistan

Gold prices in Pakistan decreased on Wednesday in line with their fall in the international market. In the local...

Published 18 Jun, 2025 03:51pm

Business & Finance

IMF agreed to spare agriculture sector from taxes, says PM Shehbaz

PM says agriculture sector “already under pressure” in country

Updated 18 Jun, 2025 05:55pm

Business & Finance

Careem to end ride-hailing services in Pakistan, blames ‘challenging macroeconomic reality’

Careem Technologies will continue to build from Pakistan for the region

Published 18 Jun, 2025 01:44pm

Taxes

Pakistan reveals National Tariff Policy draft, aims to eliminate RDs, ACDs in 5 years

The federal government has unveiled the draft for the National Tariff Policy (NTP) 2025–30 at the Regulatory Reforms...

Published 18 Jun, 2025 01:36pm

Technology

India grants licence to Musk’s Starlink

NEW DELHI: New Delhi had granted a licence to Elon Musk’s Starlink satellite internet service, opening India’s “next...

Published 18 Jun, 2025 12:49pm

Companies

Raqami Islamic Digital Bank and Haball forge strategic partnership to launch Shariah- compliant embedded finance for Pakistan’s SME sector

KARACHI: In a major milestone for Pakistan’s digital financial ecosystem, Raqami Islamic Digital Bank, the country’s...

Published 18 Jun, 2025 12:41pm

Business & Finance

UK inflation dips less than expected in May

LONDON: British inflation eased less than expected in May after surging in April, official data showed Wednesday,...

Published 18 Jun, 2025 12:33pm

Business & Finance

Numbers speak: Sindh agriculturalists spend more on vehicle registration, pay less in income tax

During first half of FY25, applicable agriculture income tax ranged from 5% to 15%. Yet, agriculturists continue to contribute disproportionately little to provincial tax revenues

Updated 18 Jun, 2025 01:22pm

Companies

Pakistan’s Interloop expands global footprint with acquisition of Bonnie Doon brand

Textile Hub B.V., an associate company of Interloop Limited, one of Pakistan’s largest textile exporters, has...

Updated 18 Jun, 2025 05:58pm

Markets

Gold flat as investors stay on sidelines ahead of Fed decision

Gold prices were flat in Asia trade on Wednesday as investors held back from placing large bets ahead of the US...

Published 18 Jun, 2025 11:55am

Stocks

China, HK stocks down as annual financial forum offers few surprises

SHANGHAI: China stocks dipped slightly on Wednesday as speeches by top financial regulators at the opening of the...

Published 18 Jun, 2025 11:25am

Energy

Qatar hikes June term price for al-Shaheen oil to 1-year high, sources say

SINGAPORE: QatarEnergy has raised the June term price for al-Shaheen crude oil to its highest premium in a year,...

Published 18 Jun, 2025 11:23am

Business & Finance

Airbus to raise dividend payout range, confirms guidance

Airbus raised the upper range of its dividend payout target ahead of a business update on Wednesday and confirmed...

Published 18 Jun, 2025 11:13am

Forex

Australia, New Zealand dollars attempt to steady after sell-off, Fed decision looms

SYDNEY: The Australian and New Zealand dollars attempted to recover from an overnight slump on Wednesday, although...

Published 18 Jun, 2025 11:09am

Stocks

Australia shares flat as escalating Middle East conflict weighs on sentiment

Australian shares were nearly flat in early trade on Wednesday, as investors turned cautious amid escalating...

Published 18 Jun, 2025 11:06am

Companies

KE to offer Rs3bn Sukuk through public subscription

Regulatory approvals from relevant forums are being sought, says KE spokesperson

Updated 18 Jun, 2025 11:44am

Stocks

Nikkei hits four-month high on weak yen; geopolitical tensions weigh

SINGAPORE: Japan’s Nikkei share average rose to touch a four-month high on Wednesday, boosted by a weaker yen,...

Published 18 Jun, 2025 11:05am

Exchange

Rupee sees slight decline against US dollar

Currency settles at 283.55 against US dollar

Updated 18 Jun, 2025 08:58pm

Stocks

Selling pressure at bourse, KSE-100 sheds over 1,500 points

Bearish sentiments prevailed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index settling the day...

Updated 18 Jun, 2025 04:24pm

Forex

China’s forex regulator vows to fend off external shocks

SHANGHAI: China’s foreign exchange regulator on Wednesday vowed to keep the yuan exchange rate basically stable and...

Published 18 Jun, 2025 08:54am

Energy

TotalEnergies CEO expects to restart Mozambique LNG project this summer

TOKYO: TotalEnergies expects its $20-billion Mozambique liquefied natural gas (LNG) project to resume development...

Published 18 Jun, 2025 08:51am

Business & Finance

Goldman Sachs leveraging revamp to boost Asia investment banking share, says regional top banker

HONG KONG: Goldman Sachs will leverage a major revamp in Asia to capture a larger share of the investment banking...

Published 18 Jun, 2025 08:49am

Stocks

India equity benchmarks set for muted open as Mideast tensions spur risk aversion

India’s equity benchmark indexes are set for a muted start on Wednesday as escalating hostilities in the Middle East...

Published 18 Jun, 2025 08:45am

Stocks

Nervy markets await Fed as Mideast conflict rages on

SINGAPORE: Concerns over escalating hostilities in the Middle East stayed front and centre in markets on Wednesday,...

Published 18 Jun, 2025 08:42am

Forex

Indian rupee set to plumb to 2-month low at open on fears over oil-spurred outflows

MUMBAI: The Indian rupee is set to open weaker on Wednesday, nearing a two-month low, weighed down by rising crude...

Published 18 Jun, 2025 08:21am

Forex

Dollar steady as investors monitor Israel-Iran conflict ahead of Fed

The U.S. dollar held on to gains against major currencies early on Wednesday, buoyed by demand for safety as...

Published 18 Jun, 2025 08:18am

Energy

Oil steadies as Iran-Israel conflict enters sixth day

LONDON: Oil prices steadied on Wednesday, after a gain of 4% in the previous session, as markets weighed up the...

Updated 18 Jun, 2025 05:23pm

Money & Banking

Asian currencies weaken on ME tensions

BENGALURU: Emerging Asian currencies weakened on Tuesday against a largely steady dollar, as conflict in the Middle...

Published 18 Jun, 2025 07:48am

Money & Banking

Dollar higher after mixed US data

NEW YORK: The US dollar pared losses to trade firmer on the yen on Tuesday, after economic data showed American...

Published 18 Jun, 2025 07:46am

Money & Banking

Rouble little changed against dollar

MOSCOW: The Russian rouble was little changed against the dollar on Tuesday despite the prices rallying as fighting...

Published 18 Jun, 2025 07:44am

Asia

Xi signs treaty to elevate ties with Central Asia

BEIJING: China President Xi Jinping signed a treaty to elevate ties with Central Asian nations on Tuesday, as ...

Published 18 Jun, 2025 07:21am

Industry

FPCCI rejects law allowing businessmen’s arrest

LAHORE: The Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has vehemently opposed the recently...

Published 18 Jun, 2025 07:04am

Energy

Iran-Israel conflict: Govt should make urgent arrangements for LPG imports

ISLAMABAD: LPG Distributors Association Chairman Irfan Khokhar warned that the ongoing Iran-Israel conflict could...

Published 18 Jun, 2025 07:01am

Budget 2025-26

Mian Zahid concerned over proposed 18pc tax on solar panels

KARACHI: The Chairman of National Business Group Pakistan, the President of the Pakistan Businessmen and...

Published 18 Jun, 2025 06:59am

Business & Finance

‘Pakistan confronting significant economic challenges due to SOEs’ financial performance’

ISLAMABAD: Prominent international governance risk expert, Muhammad Ghazali Aqeeq, has stressed that Pakistan is...

Published 18 Jun, 2025 06:51am

Industry

SAI chief regrets over no cut in policy rate

KARACHI: Site Association of Industry (SAI) President Ahmed Azeem Alvi has expressed deep disappointment over the...

Published 18 Jun, 2025 06:46am

Business & Finance

PM for linking Reko Diq project to Railways network

ISLAMABAD: In a bold move aimed at bolstering economic development and enhancing cargo transport infrastructure,...

Published 18 Jun, 2025 06:24am

Business & Finance

Reciprocal tariffs: Aurangzeb holds virtual meeting with US Commerce Secy

ISLAMABAD: Finance Minister Senator Muhammad Aurangzeb held a virtual meeting with US Commerce Secretary on US...

Published 18 Jun, 2025 06:23am

Industry

Post–budget seminar at KTBA: Implementation challenges, constitutional concerns highlighted

KARACHI: Leading tax practitioners and legal experts at a post-budget seminar on Tuesday highlighted implementation...