News Archives for Business & Finance - 2025-07-16

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Business & Finance - 2025-07-16

Business & Finance

India IT demand outlook remains uncertain amid US tariff risks, says Wipro chair

BENGALURU: The demand outlook for India’s $283-billion IT sector remains uncertain due to U.S. tariff risks and...

Published 16 Jul, 2025 09:14pm

Markets

Go Cashless: cattle markets settle Rs4.66bn via 64,553 online transactions on Eid-ul-Adha 2025

KARACHI: The State Bank of Pakistan (SBP) reported on Wednesday that cattle markets had made 64,553 online payments...

Published 16 Jul, 2025 09:06pm

Money & Banking

India’s Angel One posts lower quarterly profit on derivative trading curbs

Indian brokerage Angel One on Wednesday posted a 61% fall in first-quarter profit, as tighter rules for equity...

Published 16 Jul, 2025 08:57pm

USA

Trump will likely fire Fed’s Powell soon, Bloomberg reports

US president has repeatedly criticised Federal Reserve monetary policy in recent months

Updated 16 Jul, 2025 09:05pm

Companies

Goldman Sachs profits jump on gains in advisory services, trading

NEW YORK: Goldman Sachs reported a jump in second-quarter profits Wednesday behind significant increases in...

Published 16 Jul, 2025 06:12pm

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 16 Jul, 2025 05:36pm

Business & Finance

Govt set to shut utility stores by July 31

The federal government is all set to shut down its public retail sector, the Utility Stores Corporation (USC) by...

Published 16 Jul, 2025 03:59pm

Pakistan

Rain reimagined: could monsoons be the answer to Pakistan’s water problems?

It is estimated that more than 29 million acre feet of rainwater goes unused annually - enough to meet the drinking and household needs of every Pakistani for a year

Published 16 Jul, 2025 02:32pm

Industry

Ban lifted: PIA set to resume flights to Manchester

Following Britain’s decision to lift its restrictions on Pakistani carriers, the national carrier, PIA, announced it...

Updated 16 Jul, 2025 10:22pm

Europe

US tariffs of 30% would dent, not stop, German growth, says IMK

BERLIN: U.S. tariffs of 30% on imports from the EU, planned by President Donald Trump, could cost the German economy...

Published 16 Jul, 2025 02:19pm

Money & Banking

India’s SBI approves raising 200bn Indian rupees via bonds in fiscal year 2026

State Bank of India, the country’s largest lender by assets, approved raising of up to 200 billion Indian rupees...

Published 16 Jul, 2025 02:04pm

Stocks

Most Gulf markets gain as investors eye earnings

Most major stock markets in the Gulf rose in early trade on Wednesday ahead of more corporate earnings, with Dubai...

Published 16 Jul, 2025 01:57pm

Commodities

Japan rubber futures rise on Thai flood concerns, weak demand caps gains

Japanese rubber futures rebounded on Wednesday, fuelled by supply shortage fears after top producer Thailand warned...

Published 16 Jul, 2025 01:42pm

Commodities

Copper prices little changed as traders weigh US CPI, tariff impact

SINGAPORE: Copper prices in London and Shanghai were largely unchanged on Wednesday as traders assessed a mix of...

Published 16 Jul, 2025 01:38pm

Stocks

ASML drags European stocks lower amid tariff worries

European shares slipped on Wednesday, with ASML leading losses after a weak business update, while broader investor...

Published 16 Jul, 2025 01:26pm

Companies

JSCL announces merger of Quality Energy Solutions and Energy Infrastructure Holding

Jahangir Siddiqui and Company Limited (JSCL) announced on Wednesday the merger between Quality Energy Solutions...

Published 16 Jul, 2025 01:21pm

Companies

India’s GAIL in initial talks for long-term LNG deal with Alaska LNG, sources say

NEW DELHI: India’s state-run GAIL is in initial talks to buy liquefied natural gas from the proposed Alaska LNG...

Published 16 Jul, 2025 12:45pm

Financial

Euro zone bond yields steady as markets digest inflation data

LONDON: Euro zone government bond yields held steady on Wednesday, as markets pour over U.S. inflation figures...

Published 16 Jul, 2025 12:34pm

Companies

UK removes flight ban on Pakistan

All Pakistani airlines can now apply to operate flights to the UK

Updated 16 Jul, 2025 08:19pm

Companies

Ford recalls over 694,000 US vehicles over fire risk

Ford is recalling 694,271 vehicles in the United States due to a fuel leak issue that could increase the risk of a...

Published 16 Jul, 2025 12:27pm

Forex

South African rand steady before retail sales data

JOHANNESBURG: The South African rand was little changed in early trading on Wednesday, before the release of the...

Published 16 Jul, 2025 12:23pm

Financial

Japan’s super-long bonds rise after heavy selloff

TOKYO: Japan’s super-long government bonds rose on Wednesday, as investors bought back the bonds after a heavy...

Published 16 Jul, 2025 11:39am

Commodities

Palm rises on firmer Chicago soyoil, crude, soft ringgit

JAKARTA: Malaysian palm oil futures rose on Wednesday, recouping losses from the previous session, underpinned by...

Published 16 Jul, 2025 11:36am

Commodities

Gold rebounds as US dollar, Treasury yields retreat

Gold rose on Wednesday, helped by a slight pullback in the dollar and bond yields, while investors digested data...

Published 16 Jul, 2025 11:31am

Commodities

Iron ore rises on strengthening Australia-China ties; housing concerns persist

SINGAPORE: Iron ore futures climbed on Wednesday, buoyed by strengthening ties between top producer Australia and...

Updated 16 Jul, 2025 02:02pm

Companies

KAPCO approves Rs800mn sale of gas turbines to local steel maker

Kot Addu Power Company Limited (KAPCO) has received shareholder approval to sell its Gas Turbines GT-3 and GT-4,...

Published 16 Jul, 2025 11:24am

Forex

Yuan steady as firm midpoint counters dollar strength

SHANGHAI: China’s yuan held steady against the dollar on Wednesday, as a firmer-than-expected official midpoint...

Published 16 Jul, 2025 11:23am

Technology

Nvidia’s Huang hails Chinese AI models as ‘world class’

BEIJING/SHANGHAI: Nvidia CEO Jensen Huang described artificial intelligence models from Chinese firms Deepseek,...

Published 16 Jul, 2025 11:20am

Companies

Apple in $500 million rare earth magnet deal with MP to expand US supply chain

Apple has signed a $500 million deal with MP Materials for rare earth magnets, mitigating supply risks after China...

Published 16 Jul, 2025 11:09am

Companies

PTCL starts pensioners’ data verification in line with Supreme Court order

Pakistan Telecommunication Company Limited (PTCL) informed on Wednesday that it was currently in the process of...

Published 16 Jul, 2025 10:55am

Stocks

South Korean shares end nearly 1% lower on US inflation data

*KOSPI closed down 28.90 points, or 0.90%, at 3,186.38

Updated 16 Jul, 2025 12:47pm

Forex

Tariff-tinged US inflation boosts dollar, set to weigh on Indian rupee

MUMBAI: The Indian rupee is set to open weaker on Wednesday after June U.S. inflation data hinted at tariff-driven...

Published 16 Jul, 2025 10:51am

Exchange

Rupe weakens against US dollar

Currency settles at 284.96 against US dollar

Updated 16 Jul, 2025 07:05pm

Financial

India bonds steady as traders await fresh cues

MUMBAI: Indian government bonds little changed on Wednesday in the absence of any fresh domestic triggers and...

Published 16 Jul, 2025 10:49am

Stocks

Australian shares end lower as US CPI clouds Fed rate-cut hopes

Australian shares fell on Wednesday, led by banks and mining companies, after the latest U.S. inflation data...

Updated 16 Jul, 2025 01:25pm

Stocks

Japan’s Nikkei ends flat as election, tariff worries overshadow chip stocks’ gains

TOKYO: Japan’s Nikkei share average ended flat on Wednesday, as concerns surrounding the elections to the upper...

Updated 16 Jul, 2025 12:37pm

Stocks

China stocks slip on trade concerns; Hong Kong ends lower

SHANGHAI: Mainland China stocks slipped on Wednesday as concerns lingered over trade relations with the U.S., while...

Updated 16 Jul, 2025 02:01pm

Stocks

Indian benchmarks inch lower dragged by auto stocks; HDFC Bank caps losses

India’s benchmark shares inched lower on Wednesday, dragged by auto stocks after Tesla’s entry into the local...

Published 16 Jul, 2025 10:37am

Markets

Buying returns, KSE-100 settles with over 400 points gain

After declining in the previous session, bulls returned to the Pakistan Stock Exchange (PSX) with the benchmark...

Updated 16 Jul, 2025 10:28pm

Stocks

Asia shares struggle, dollar soars on lowered Fed rate cut bets

TOKYO: Asian stock markets were under pressure on Wednesday while the dollar climbed to its firmest against the yen...

Published 16 Jul, 2025 10:33am

Forex

Dollar rides Treasury yields higher as Trump’s tariffs begin to bite

SINGAPORE: The U.S. dollar rose alongside Treasury yields on Wednesday, which in turn kept pressure on the yen after...

Published 16 Jul, 2025 10:30am

Energy

Oil eases 1% as US fuel stock builds put focus on demand

HOUSTON: Oil prices fell about 1% on Wednesday as U.S. fuel inventory builds reinforced views in the market of...

Updated 16 Jul, 2025 08:44pm

Markets

HUBCO proposes $51mn investment in Thar-based coal projects

Hub Power Company Limited (HUBCO), Pakistan’s largest Independent Power Producer (IPP), has announced plans to...

Published 16 Jul, 2025 10:12am

Companies

Yango Tech announces partnership with DealCart

KARACHI: Yango Tech has announced strategic partnership with DealCart, fastest-growing grocery delivery platforms,...

Published 16 Jul, 2025 07:24am

Companies

Zong launches ‘Z SAIS Cloud’ in Karachi

KARACHI: Zong has launched “Z SAIS Cloud”, a locally-hosted, business-ready, enterprise-grade platform designed...

Published 16 Jul, 2025 07:21am

Business & Finance

Freight forwarders: FBR notifies licensing rules

LAHORE: The Federal Board of Revenue (FBR) has officially notified the Freight Forwarders Licensing Rules, 2025,...

Published 16 Jul, 2025 07:08am

Energy

Revised prices for RLNG announced from July 1

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has announced on Tuesday revised prices for re-gasified...

Published 16 Jul, 2025 07:08am

Business & Finance

All types of mangoes for current season: FBR fixes new customs/export values

ISLAMABAD: The Federal Board of Revenue (FBR) has fixed new customs/export value of all types of mangoes for current...

Published 16 Jul, 2025 07:07am

Business & Finance

Automobile CKD market projected to grow over 20pc

LAHORE: Automobile CKD market is projected to grow by more than 20 percent this year and Pak Suzuki is well ...

Published 16 Jul, 2025 07:04am

Business & Finance

STZA declares Silicon Block of CBD NSIT City ‘Development Zone’

LAHORE: In a landmark achievement, the Silicon Block of CBD NSIT City developed by the Punjab Central Business...

Published 16 Jul, 2025 07:00am

Business & Finance

Moody’s briefed about reforms, outlook

ISLAMABAD: Federal Minister for Finance and Revenue Muhammad Aurangzeb held a virtual engagement with Moody’s...