News Archives for Business & Finance - 2025-06-19

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Business & Finance - 2025-06-19

Stocks

European shares dive as Mideast tensions, US involvement fears weigh

European shares skidded to an over one-month low on Thursday as escalating Middle East tensions and fears over...

Published 19 Jun, 2025 09:48pm

Markets

Pakistan launches National Electric Vehicle Policy 2025-30

Govt targets to increase share of EVs in auto sales to 30% by 2030

Updated 19 Jun, 2025 10:55pm

Stocks

TSX dips on Middle East conflict concerns

Canada’s main stock index fell on Thursday, as caution prevailed over heightened tensions in the Middle East and the...

Published 19 Jun, 2025 08:51pm

Business & Economy

Pakistan salaried class rejects govt’s claim of giving relief in income tax

Representatives of the Salaried Class Alliance of Pakistan (SCAP) said on Thursday the government had done a “number...

Published 19 Jun, 2025 08:35pm

Business & Finance

SBP-held foreign exchange reserves rise $46mn, clock in at $11.72bn

Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $46 million on a weekly basis,...

Published 19 Jun, 2025 07:50pm

Markets

Telecom subscribers surpass 200 million in Pakistan

Telecom subscribers have crossed 200 million in the country, the Pakistan Telecommunication Authority (PTA) said on...

Published 19 Jun, 2025 07:41pm

Stocks

Most Gulf markets retreat as Israel, Iran strikes continue

Most stock markets in the Gulf closed lower on Thursday on the seventh day of the Israel-Iran conflict and as U.S....

Published 19 Jun, 2025 07:02pm

Companies

India’s TCS says none of its systems were compromised in M&S hack

BENGALURU: Tata Consultancy Services said none of its “systems or users were compromised” as part of the cyberattack...

Published 19 Jun, 2025 06:59pm

Markets

PIA sell-off: Fauji Fertilizer, Air Blue, and 3 consortiums submit Statements of Qualification

Privatisation Commission to evaluate SOQs submitted by parties against prequalification criteria

Updated 19 Jun, 2025 10:24pm

Markets

Amazon to invest $233mn in India to expand operations infrastructure, improve tech

Amazon will invest more than 20 billion rupees ($233 million) in India in 2025 to expand and update its operations...

Published 19 Jun, 2025 05:57pm

Money & Banking

Indian central bank rationalises provisioning for infrastructure loans

MUMBAI: The Reserve Bank of India was rationalising the standard asset provisioning requirement for all...

Published 19 Jun, 2025 05:45pm

Commodities

Copper hits near one-week low on stronger dollar, growth fears

Copper prices touched a near one-week low on Thursday and other base metals also slipped, dragged down by a strong...

Published 19 Jun, 2025 05:36pm

Money & Banking

Bank of England keeps rates steady, sees further loosening as jobs market weakens

LONDON: The Bank of England held interest rates at 4.25% as expected on Thursday but said it was focused on risks...

Published 19 Jun, 2025 05:32pm

Money & Banking

ECB will keep doing all is needed to meet inflation goal, Nagel says

MILAN: The European Central Bank (ECB) will keep doing all that is necessary to complete its nearly accomplished...

Published 19 Jun, 2025 05:28pm

Sports

Juventus extend Adidas partnership to 2037 in $468mn deal

ROME: Juventus have extended their technical partnership with German sportswear giant Adidas until June 2037, in a...

Published 19 Jun, 2025 05:26pm

Money & Banking

Turkish central bank holds all rates steady

ISTANBUL: Turkiye’s central bank held its key interest rate steady at 46% on Thursday, as expected, and also kept...

Published 19 Jun, 2025 05:23pm

Stocks

Indian shares subdued as Middle East conflict saps risk appetite

India’s equity benchmarks were muted on Thursday and the broader markets declined, as investors stayed cautious amid...

Published 19 Jun, 2025 05:21pm

Stocks

Sri Lankan shares log fifth straight session of losses

CSE All-Share Index settled 1.48% lower at 16,818.21

Published 19 Jun, 2025 05:17pm

Commodities

Palm flat as strong Dalian oils counter weak demand

KUALA LUMPUR: Malaysian palm oil futures were largely flat on Thursday as stronger rival Dalian oils supported the...

Published 19 Jun, 2025 04:41pm

Business & Finance

Indian rapeseed meal exports soar as China replaces Canadian supply

MUMBAI: China is set to make record purchases of rapeseed meal from India following Beijing’s move to impose a 100%...

Published 19 Jun, 2025 04:37pm

Companies

Pak Datacom signs MoU with intl broadband satellite service provider

Pak Datacom Limited (PDL) announced on Thursday the signing of a Memorandum of Understanding (MoU) with an...

Published 19 Jun, 2025 03:45pm

Bullion Rate

Gold prices drop Rs460 in Pakistan

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

Published 19 Jun, 2025 03:30pm

Business & Finance

World Bank’s Benhassine lauds Pakistan’s economic turnaround

Najy Benhassine, the outgoing country director of the World Bank, has lauded Pakistan’s economic turnaround, terming...

Updated 19 Jun, 2025 10:59pm

Companies

Pakistan’s textile mill shuts down leasehold spinning unit amid sector challenges

Arctic Textile Mills Limited, formerly called Khurshid Spinning Mills, has announced the immediate discontinuation...

Published 19 Jun, 2025 01:46pm

Stocks

Major Gulf markets decline as regional conflict escalates

Major stock markets in the Gulf fell in early trade on Thursday amid investor jitters over potential US involvement...

Published 19 Jun, 2025 01:44pm

Companies

Airblue, Gerry’s Group among bidders for PIA as EoI deadline ends today: Bloomberg

The sale of Pakistan International Airlines (PIA), the national flag carrier, has drawn interest from several...

Updated 19 Jun, 2025 04:10pm

Forex

Kenyan shilling steady as remittance inflows provide support

Commercial banks quoted the shilling at 129.20/129.50

Published 19 Jun, 2025 12:45pm

Companies

Beco Steel says unaware of cause behind unusual share movement

Beco Steel said on Thursday that it was not aware of any matter in the unusual movement in the share price of the...

Published 19 Jun, 2025 12:20pm

Companies

PIA privatisation: EoIs due today for up to 100% stake

Expressions of Interest (EoI) for up to a 100% stake in Pakistan International Airlines (PIA), the national flag...

Published 19 Jun, 2025 11:48am

Stocks

Australian shares hit 2-week low as miners, gold stocks fall; Fed holds rate

Australian shares hit a two-week low in early trade on Thursday, weighed down by miners and gold stocks as the US...

Published 19 Jun, 2025 11:46am

Business & Finance

Tariffs boost strategic importance of US Steel deal, Nippon Steel CEO says

TOKYO: The US administration’s policy shift to introduce high tariffs will increase the strategic importance of...

Published 19 Jun, 2025 11:45am

Stocks

South Korean shares turn lower as Mideast tensions overshadow tech rally

The benchmark KOSPI was down 11.85 points, or 0.40%, at 2,960.34

Published 19 Jun, 2025 11:21am

Stocks

Japan’s Nikkei retreats from 4-month high as threat of US involvement in Iran conflict looms

TOKYO: Japan’s Nikkei share average retreated from a four-month high on Thursday as the threat of war between the...

Published 19 Jun, 2025 11:16am

Commodities

Copper prices flat as traders assess geopolitical risks, supply constraints

SINGAPORE: Copper prices on the Shanghai Futures Exchange and London Metal Exchange were largely flat on Thursday,...

Published 19 Jun, 2025 11:13am

Commodities

palm oil rangebound as strong Dalian counters weak crude oil

KUALA LUMPUR: Malaysian palm oil futures traded in a tight range on Thursday as support from stronger rival Dalian...

Updated 19 Jun, 2025 11:41am

Forex

Indian rupee likely to weaken more on risk off, dollar strength

MUMBAI: The Indian rupee is likely to extend its recent fall at the open on Thursday, bogged down by the US dollar’s...

Published 19 Jun, 2025 11:08am

Forex

Australia, NZ dollars take collateral damage from Mideast conflict

SYDNEY: The Australian and New Zealand dollars slid on Thursday as concerns the United States was inching closer to...

Published 19 Jun, 2025 11:04am

Commodities

Dalian Iron ore extends declines as China property slump weighs

SINGAPORE: Iron ore futures prices eased for a sixth session on Thursday, as a protracted crisis in China’s property...

Updated 19 Jun, 2025 11:41am

Mutual Funds

Indian bond yields marginally higher; focus on oil, debt supply

MUMBAI: Indian government bond yields inched up in early trade on Thursday, pressured by high oil prices, with...

Published 19 Jun, 2025 10:55am

Forex

China’s yuan hits one-week low on worries over Middle East conflict

SHANGHAI: China’s yuan briefly hit a one-week low against the US dollar on Thursday, mirroring losses in regional...

Published 19 Jun, 2025 10:52am

Mutual Funds

Super-long JGB yields rise, medium-term yields fall on issuance plan

TOKYO: Long-dated Japanese government bond yields rose on Thursday while medium-term yields declined as details...

Published 19 Jun, 2025 10:50am

Business & Finance

Swiss National Bank flags uncertainty due to trade, tensions in stability report

ZURICH: The Swiss National Bank said on Thursday the economic and financial outlook is highly uncertain,...

Published 19 Jun, 2025 10:37am

Stocks

China, HK stocks falls on Middle East tensions

HONG KONG: China and Hong Kong stocks tumbled on Thursday as mounting tensions in the Middle East rattled investor...

Published 19 Jun, 2025 10:33am

Exchange

Rupee posts marginal decline against US dollar

Local currency settles at 283.64 against greenback in inter-bank market

Updated 19 Jun, 2025 08:58pm

Stocks

Volatility at PSX, KSE-100 sheds nearly 500 points

A volatile session was observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index swinging both...

Updated 19 Jun, 2025 04:18pm

Industry

Retail sector: CAP voices concerns over lack of ‘meaningful’ tax reforms

LAHORE: The Chainstore Association of Pakistan (CAP) has raised significant concerns over the lack of meaningful tax...

Published 19 Jun, 2025 08:24am

Stocks

Indian shares set for weak start on Middle East turmoil, hawkish Fed

India’s equity benchmarks are set to open lower on Thursday, pressured by hawkish signals from the U.S. Federal...

Published 19 Jun, 2025 08:02am

Energy

Oil prices jump as Israel-Iran conflict enters seventh day

CALGARY: Oil prices rose on Thursday after Israel and Iran continued to exchange missile attacks overnight and U.S....

Updated 19 Jun, 2025 08:48pm

Forex

Dollar steady as Powell flags inflation risks; Mideast worries rise

SINGAPORE: The dollar held steady on Thursday, as investors weighed Federal Reserve Chair Jerome Powell’s cautionary...

Published 19 Jun, 2025 07:56am

Stocks

Asian stocks slip, gold gains with yen as Middle East conflict rages

TOKYO: Stock markets in Asia edged lower on Thursday while safe havens such as gold and the Japanese yen gained as...

Published 19 Jun, 2025 07:53am

Markets

Gold prices tick up as Middle East tensions buoy demand

Gold prices gained on Thursday, as rising tensions in the Middle East buoyed demand for the safe-haven asset,...

Published 19 Jun, 2025 07:50am

World

Turkey’s Pasifik Eurasia, China Railway unit sign rail transport deal

ISTANBUL: Pasifik Eurasia Lojistik said it has signed a railway transport agreement with a subsidiary of China...

Published 19 Jun, 2025 07:47am

Companies

Nippon, US Steel complete partnership deal

NEW YORK: Nippon Steel and US Steel announced Wednesday they have completed a partnership deal in which the US...

Published 19 Jun, 2025 07:45am

Europe

First carbon capture cement facility opens in Norway

BREVIK (Norway): Norway on Wednesday inaugurated the first large-scale facility for capturing carbon dioxide...

Published 19 Jun, 2025 07:37am

Pakistan

Punjab budget focuses on ‘equitable’ economic growth

LAHORE: The Punjab government has outlined a comprehensive and ambitious development agenda for FY2025–26 which...

Published 19 Jun, 2025 07:35am

Industry

PDA seeks cut in packaged milk tax to 5pc

LAHORE: The Pakistan Dairy Association (PDA) on Wednesday urged the government to immediately reduce the 18 percent...

Updated 19 Jun, 2025 03:57pm

Energy

Net-metering adds 2,813MW to power generation capacity

LAHORE: An installed capacity of 2,813MW from net-metering has resulted into an increase in Pakistan’s total...

Published 19 Jun, 2025 07:32am

Industry

App introduced to facilitate EFS beneficiaries

FAISALABAD: Faisalabad Customs Collectorate has introduced a new app to expeditiously dispose of the applications ...

Published 19 Jun, 2025 07:24am

Industry

PALSP for linking tariff cuts to power rates

ISLAMABAD: Pakistan Association of Large Steel Producers (PALSP) Wednesday urged upon the Senate Standing Committee...

Published 19 Jun, 2025 07:18am

Business & Finance

Karandaaz Financial Inclusion Survey released

KARACHI: Karandaaz Pakistan has released the 2024 edition of the Karandaaz Financial Inclusion Survey (K-FIS),...

Published 19 Jun, 2025 07:15am

Companies

StanChart Pakistan launches ‘Score Your Goals’ campaign

KARACHI: Standard Chartered Bank Pakistan has launched an exciting new campaign titled, “Score Your Goals,”...

Published 19 Jun, 2025 07:14am

Business & Finance

AJK govt unveils Rs310.2bn ‘tax-free’ budget

MUZAFFARABAD: Azad Jammu and Kashmir government on Wednesday unveiled the annual budget with a record outlay of...