News Archives for Business & Finance - 2025-07-09

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Business & Finance - 2025-07-09

Business & Finance

NEPRA notifies Rs4 per unit relief for KE under April 2025 FCA

The National Electric Power Regulatory Authority (NEPRA) on Wednesday issued its decision regarding K-Electric’s...

Published 09 Jul, 2025 09:31pm

Money & Banking

Indian state-owned banks to raise $5.25 billion in 2025-26 via QIP

Indian state-owned banks will raise around 450 billion rupees ($5.25 billion) through qualified institutional...

Published 09 Jul, 2025 08:57pm

Markets

500k MT sugar import: FBR exempts customs duty, reduces sales tax from 18% to 0.25%

ISLAMABAD: The Federal Board of Revenue (FBR) has exempted customs duty on the import of 500,000 metric tons of...

Updated 09 Jul, 2025 09:58pm

Stocks

TSX rises as investors assess tariff concerns

Canada’s main stock index inched up on Wednesday, buoyed by real estate shares, with investors on the lookout for...

Published 09 Jul, 2025 08:44pm

USA

Musk chatbot Grok removes posts after complaints of anti-Semitism

Grok, the chatbot developed by the Elon Musk-founded company xAI, removed what it called “inappropriate” social...

Published 09 Jul, 2025 08:40pm

Stocks

Nvidia clinches historic $4 trillion market value on AI dominance

Nvidia notched a market capitalization of $4 trillion on Wednesday, making it the first public company in the world...

Published 09 Jul, 2025 08:35pm

Europe

Turkiye raises withholding tax on short-term lira deposits to boost budget revenues

GDANSK: Turkiye has raised the withholding tax on short-term Turkish lira deposits and investment funds by 2.5...

Published 09 Jul, 2025 08:29pm

Pakistan

Pakistan’s ‘first-ever’ national consultation on fisheries, aquaculture policy held

Pakistan’s first-ever national consultation for inaugural National Fisheries and Aquaculture Policy 2025-2035 was...

Updated 09 Jul, 2025 09:23pm

Commodities

Wheat steady-down 3 cents, corn mixed, soy steady-down 5

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

Published 09 Jul, 2025 07:03pm

Stocks

Most Gulf markets close higher shrugging off Trump’s tariff news

Most stock markets in the Gulf reversed early losses to close higher on Wednesday as investors appeared unfazed by...

Published 09 Jul, 2025 06:58pm

Markets

India’s ICICI Prudential Asset files for IPO at $12 billion valuation, sources say

ICICI Prudential Asset Management Company has filed for a $1.2 billion IPO at a valuation of $12 billion, two...

Published 09 Jul, 2025 06:54pm

Markets

Pakistan kick-starts preparation for issuance of debut Panda bond

Govt officials initiate series of pre-marketing investor meetings in Beijing

Updated 09 Jul, 2025 09:52pm

Forex

South Africa’s rand and stocks slip as lower commodity prices weigh

JOHANNESBURG: South Africa’s commodity-backed currency and stocks weakened on Wednesday, with investor focus on...

Published 09 Jul, 2025 06:17pm

Commodities

India mutual fund investors chase equities, gold and silver in quest for returns

Mutual fund allocations bounced back in India last month, driven by strong retail participation, with investors also...

Published 09 Jul, 2025 06:14pm

Markets

Why did India’s securities regulator bar Jane Street?

MUMBAI: Jane Street has been barred from the Indian securities market by its markets regulator, which has said the...

Published 09 Jul, 2025 06:10pm

Markets

India’s Zepto to raise $450mn-$500mn at $7 billion valuation

Grocery and food delivery startup Zepto is set to raise $450 million to $500 million in fresh funding, at a new...

Published 09 Jul, 2025 06:05pm

Forex

Indian rupee, forward premiums tread water with Fed minutes and tariffs in focus

MUMBAI: The Indian rupee closed nearly unchanged on Wednesday, tracking a muted reaction in global markets to the...

Published 09 Jul, 2025 06:02pm

Financial

RBI’s liquidity withdrawal move weighs on India bond prices

MUMBAI: Indian government bonds ended lower on Wednesday, as the central bank’s move to withdraw funds from the...

Published 09 Jul, 2025 05:59pm

Markets

India’s Adani Enterprises’ public debt issue oversubscribed on launch day, bankers say

MUMBAI: Indian billionaire Gautam Adani’s flagship firm saw strong demand for its second public bond issue in less...

Published 09 Jul, 2025 05:57pm

Companies

Asian Paints sells entire stake in Akzo Nobel India

Asian Paints said on Wednesday it sold its entire 4.42% stake for 7.34 billion rupees ($85.69 million) in smaller...

Published 09 Jul, 2025 05:55pm

Markets

Ambani’s Reliance Jio delays India IPO, 2025 listing not on cards, sources say

NEW DELHI/SYDNEY: Indian telecom and digital giant Reliance Jio Platforms, led by billionaire Mukesh Ambani, has...

Published 09 Jul, 2025 05:50pm

Business & Finance

Pakistan’s first National Dredging Company formed

Pakistan’s first National Dredging and Marine Services (NDMS) company has been formed in collaboration with Port...

Published 09 Jul, 2025 05:48pm

Commodities

India’s iron ore pellet makers seek curbs on Iranian imports via Oman

NEW DELHI: India’s iron ore pellet makers have urged the government to curb a surge in imports routed through Oman,...

Published 09 Jul, 2025 05:45pm

Commodities

Trump copper tariffs set to spark final scramble to get metal across the border

Copper shipments into the United States are expected to accelerate in the coming weeks in a final scramble to get...

Published 09 Jul, 2025 05:35pm

Forex

Sterling steady as investors weigh BoE’s financial stability report, tariff uncertainty

Sterling was little changed on Wednesday, as investors digested the Bank of England’s half-yearly report on...

Published 09 Jul, 2025 05:27pm

Financial

India markets regulator mulls allowing ratings agencies to rate instruments not regulated by it

India’s markets regulator on Wednesday proposed allowing credit ratings agencies to rate financial instruments...

Published 09 Jul, 2025 05:25pm

Commodities

Gold price per tola falls Rs3,000 in Pakistan

Gold prices in Pakistan declined on Wednesday in line with their decrease in the international market. In the local...

Published 09 Jul, 2025 05:00pm

Stocks

Indian equity benchmarks edge lower as Reliance, metals losses outpace consumer gains

India’s equity benchmarks inched lower on Wednesday as losses in Reliance Industries and metals overpowered gains in...

Published 09 Jul, 2025 04:49pm

Stocks

Real estate, consumer discretionary stocks lift Sri Lanka shares

CSE All Share index settled up 0.72% at 18,161.49

Published 09 Jul, 2025 04:47pm

Commodities

US copper widens premium against global benchmark after Trump’s 50% tariff plan

LONDON: U.S. copper futures widened their premium to the London benchmark on Wednesday, reflecting U.S. President...

Published 09 Jul, 2025 04:45pm

Commodities

Palm extends gains on stronger Dalian oils, weaker ringgit

JAKARTA: Malaysian palm oil futures rose for a third straight session to its highest in nearly three months on...

Published 09 Jul, 2025 04:42pm

Business & Economy

SBP to launch pilot for digital currency, says governor

KARACHI/SINGAPORE: State Bank of Pakistan (SBP) is preparing to launch a pilot for a digital currency and is...

Updated 09 Jul, 2025 09:53pm

Technology

President Zardari gives assent to Virtual Assets Act, 2025

Law establishes the Pakistan Virtual Asset Regulatory Authority (PVARA)

Published 09 Jul, 2025 04:10pm

Markets

Notices issued to sugar mills for rehearing in cartelisation case

The Competition Commission of Pakistan (CCP) has issued notices to the Pakistan Sugar Mills Association (PSMA) and...

Published 09 Jul, 2025 04:08pm

Companies

Arif Habib consortium: Fatima Fertilizer says submited EOI for PIACL

Fatima Fertilizer Company Limited (FATIMA) has submitted an Expression of Interest (EOI) and Statement of...

Updated 09 Jul, 2025 04:38pm

Business & Finance

PIA Holding Company seeks SECP approval to delay first annual general meeting

PIA Holding Company Limited (PIAHCL) said on Wednesday that it had applied to the Securities & Exchange...

Published 09 Jul, 2025 03:00pm

Money & Banking

DIB arranges $1bn sovereign financing for Pakistan

Dubai Islamic Bank (DIB), the largest bank in the UAE, has finalised a syndicated term finance facility deal worth...

Published 09 Jul, 2025 02:27pm

Technology

Pakistan’s software services exports surge to over $1bn for first time

Overall exports of IT and Information Technology Enabled Services (ITeS) stood at $3.47 billion between July and May of current financial year

Published 09 Jul, 2025 02:08pm

Companies

Pakistan fashion label eyes acquiring Harrods-listed luxury fragrance brand

Image Pakistan Limited, one of the country’s leading fashion houses, is exploring the potential acquisition of...

Published 09 Jul, 2025 01:37pm

Money & Banking

Pakistan receives record $38.3bn in remittances in FY25

Saudi Arabia remains Pakistan's top source of remittance inflows

Updated 09 Jul, 2025 09:53pm

Stocks

European shares edge higher as investors eye US trade signals

European shares nudged higher on Wednesday, supported by defence stocks, as investors awaited signs of progress on a...

Published 09 Jul, 2025 12:51pm

Companies

PIA privatization: Lucky Cement says no binding commitment yet

Says any decision to proceed will depend on the outcome of the due diligence process and necessary approvals

Updated 09 Jul, 2025 03:25pm

Sports

Cricket’s Indian Premier League value surges to $18.5bn: report

NEW DELHI: The Indian Premier League’s business value has been estimated at $18.5 billion with reigning champions...

Published 09 Jul, 2025 12:19pm

Companies

Pak Suzuki revises bike prices in Pakistan following NEV tax imposition

Pak Suzuki Motor Company (PSMC) announced revised retail prices for its motorcycle lineup, effective July 1, 2025....

Published 09 Jul, 2025 12:14pm

Technology

BYD makes safety pledge for cars with proprietary assisted driving in China

BEIJING: Chinese electric vehicle maker BYD on Wednesday promised to take responsibility for losses to cars with its...

Published 09 Jul, 2025 12:11pm

Commodities

Iron ore extends rise on falling shipments but mixed China data caps gain

BEIJING: Iron ore futures prices extended gains for a second straight session on Wednesday, aided by falling...

Published 09 Jul, 2025 11:58am

Business & Finance

After US tariffs, jobs hang by a thread in Bangladesh’s garments sector

ASHULIA: The fear of job losses is rippling through Bangladesh’s garment hubs as US President Donald Trump’s 35%...

Published 09 Jul, 2025 11:57am

Companies

Renault set to name interim CEO next week, FT reports

Renault will name an interim CEO next week as it continues to search for a replacement for Luca de Meo, who is to...

Published 09 Jul, 2025 11:54am

Forex

China’s yuan holds near two-week low as tariff risks, deflation pressure drag

HONG KONG: China’s yuan held near a two-week low against the US dollar on Wednesday as US President Donald Trump’s...

Published 09 Jul, 2025 11:52am

Mutual Funds

Vietnam raises $42.5mn in govt bond auction, lowest since March 26

HANOI: Vietnam’s State Treasury raised 1.11 trillion dong ($42.5 million) in a weekly government bond auction on...

Published 09 Jul, 2025 11:50am

Commodities

Palm extends gains on stronger Dalian oils, weaker ringgit

JAKARTA: Malaysian palm oil futures rose for a third straight session on Wednesday, supported by gains in rival...

Published 09 Jul, 2025 11:49am

Mutual Funds

India bonds dip on RBI liquidity move, weak US Treasuries

MUMBAI: India bonds declined on Wednesday, weighed down by the domestic central bank’s latest plans to further drain...

Published 09 Jul, 2025 11:48am

Business & Finance

China economy to top $19.5 trillion this year, says state planner

BEIJING: The size of China’s economy will exceed 140 trillion yuan ($19.5 trillion) this year, the head of the state...

Published 09 Jul, 2025 11:45am

Stocks

Australian shares slide as Trump broadens tariff war; RBNZ decision in focus

Australian shares fell on Wednesday, led by losses in gold and mining stocks, after US President Donald Trump said...

Published 09 Jul, 2025 11:43am

Stocks

China stocks edge higher even as factory deflation deepens

At the midday break, the Shanghai Composite index was up 0.3% at 3,507.69 points

Published 09 Jul, 2025 11:41am

Commodities

Copper falls outside US after Trump announces 50% tariff

SINGAPORE: Copper prices on the London Metal Exchange and the Shanghai Futures Exchange slipped on Wednesday as the...

Published 09 Jul, 2025 11:39am

Business & Finance

New Zealand keeps interest rates on hold but flags likely cut

WELLINGTON: New Zealand’s central bank held the benchmark interest rate at 3.25% on Wednesday, noting near-term...

Published 09 Jul, 2025 11:38am

Commodities

Corn rebounds on bargain-buying, ample supplies curb gains

SINGAPORE: Chicago corn rose for the first time in three sessions on Wednesday, with buying at current levels...

Published 09 Jul, 2025 11:37am

Forex

New Zealand dollar slips as RBNZ flags more easing, Aussie gains on crosses

SYDNEY: The New Zealand dollar slipped on Wednesday after the country’s central bank paused its easing cycle but...

Published 09 Jul, 2025 11:36am

Stocks

South Korean shares rise for third day as financials jump

The benchmark KOSPI was up 15.53 points, or 0.50%, at 3,130.48

Published 09 Jul, 2025 11:35am

Markets

Nissan has halted production of three models for Canada at two US plants, Nikkei reports

TOKYO: Nissan Motor has suspended production of three vehicle models for Canada at its Tennessee and Mississippi...

Published 09 Jul, 2025 11:34am

Stocks

Japan’s Nikkei gives up early gains as chip-related heavyweights fall

TOKYO: Japan’s Nikkei share average surrendered early gains to trade flat on Wednesday, as investors sold...

Published 09 Jul, 2025 11:05am

Technology

Bazaar acquires Keenu to create ‘integrated commerce-fintech platform’

Bazaar says globally, this approach has proven successful with e-commerce companies - for example Alibaba’s creation of Alipay in China

Updated 09 Jul, 2025 12:32pm

Exchange

Pakistan rupee slips lower against US dollar

Currency settles at 284.47 against greenback

Updated 09 Jul, 2025 06:40pm

Stocks

KSE-100 sheds over 800 points amid selling pressure

Selling pressure was observed at the Pakistan Stock Exchange (PSX) on Wednesday, with the benchmark KSE-100 Index...

Updated 09 Jul, 2025 07:07pm

Markets

Qantas confirms personal data of over a million customers leaked in breach

Australia’s Qantas Airways said on Wednesday more than a million customers had their phone number, birth date or...

Published 09 Jul, 2025 08:32am

Stocks

Indian stock benchmarks set to open flat as Trump threatens pharma tariffs

India’s equity benchmarks are expected to open little changed on Wednesday, with investor caution deepening after...

Published 09 Jul, 2025 08:31am

Forex

Trump’s tariff blitz to weigh on Indian rupee, hurts Asia FX

MUMBAI: The Indian rupee is poised to open weaker on Wednesday, pressured by a renewed tariff barrage from U.S....

Published 09 Jul, 2025 08:18am

Markets

Gold hovers near one-week low as firmer US dollar, yields weigh

Gold prices hovered on Wednesday near their lowest point in more than one week, under pressure from a stronger U.S....

Published 09 Jul, 2025 08:16am

Stocks

Dollar firm, Asian stocks mixed as traders ponder tariff outlook

TOKYO: The dollar traded close to a 2-1/2-week high versus major peers on Wednesday while copper hit an all-time...

Published 09 Jul, 2025 08:13am

Forex

Dollar gains against yen as Trump’s trade war intensifies

TOKYO: The dollar rose for a third day against the yen on Wednesday as U.S. President Donald Trump pledged more...

Published 09 Jul, 2025 08:10am

Energy

Oil rises on Red Sea attacks, lower US production as Trump tariffs loom

LONDON: Oil prices rose on Wednesday, maintaining their highest levels since June 23, lifted by attacks on shipping...

Updated 09 Jul, 2025 05:18pm

Commodities

How US buyers of critical minerals bypass China’s export ban

BEIJING: Unusually large quantities of antimony - a metal used in batteries, chips and flame retardants - have...

Published 09 Jul, 2025 08:03am

Industry

Commercial property rent in Punjab: CAP concerned over imposition of 16pc ST

LAHORE: The Chainstore Association of Pakistan (CAP), the leading representative body for the organized retail...

Published 09 Jul, 2025 07:55am

Industry

CCP approves 69 M&A deals during FY2024-25

ISLAMABAD: The Competition Commission of Pakistan (CCP) approved a total of 69 merger and acquisition (M&A)...

Published 09 Jul, 2025 07:52am

Companies

DIBPL partners with JazzCash to enhance digital financial solutions

KARACHI: Dubai Islamic Bank Pakistan Limited (DIBPL) has joined hands with JazzCash to facilitate and grow inland...

Published 09 Jul, 2025 07:50am

Business & Finance

EPBD for fundamental restructuring of debt utilisation

ISLAMABAD: Economic Policy & Business Development (EPBD), a think tank, has called for fundamental restructuring...

Published 09 Jul, 2025 07:49am

Business & Finance

Exchange firm ceases its operations

KARACHI: An exchange company has announced voluntary closure of operations. According to the State Bank of Pakistan...

Published 09 Jul, 2025 07:47am

Business & Finance

New industrial policy: Expert emphasizes cost and ease of business

KARACHI: It’s indeed wonderful news that the government is finalizing a new Industrial Policy, there has to be...

Published 09 Jul, 2025 07:45am

Taxes

FBR fails to defend case before FTO

ISLAMABAD: Federal Board of Revenue (FBR) Policy and Operation wings have failed to defend a case before Dr Asif ...

Published 09 Jul, 2025 07:44am

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 5	3.65

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 6	381.78
Diesel/Litre / Jun 6	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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