News Archives for Business & Finance - 2025-08-05

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Business & Finance - 2025-08-05

Technology

Telenor’s acquisition by PTCL: CCP seeks further clarity on key issues

The Competition Commission of Pakistan (CCP) has sought further clarity from the Pakistan Telecommunication Company...

Published 05 Aug, 2025 10:38pm

Companies

India’s Berger Paints misses quarterly profit view on higher expenses, one-time charge

Berger Paints India reported quarterly profit below analyst estimates on Tuesday, as higher expenses and a one-time...

Published 05 Aug, 2025 09:35pm

Stocks

Gulf shares rise on Fed easing hopes; Egypt hits record high

Most Gulf equities tracked global stocks higher on Tuesday, as investors raised bets for interest rate cuts by the...

Published 05 Aug, 2025 08:28pm

Stocks

TSX boosted by mining stocks, Fed rate cut optimism

Canada’s main stock index rose on Tuesday, rebounding after Friday’s selloff, with investors optimistic about the...

Published 05 Aug, 2025 08:24pm

Stocks

Wall Street pares gains after fresh economic data; earnings in spotlight

Wall Street’s main indexes gave up opening gains on Tuesday after data showed U.S. services activity stalled, while...

Published 05 Aug, 2025 08:22pm

Companies

Indian jeweller Titan eyes shifting some manufacturing to Gulf as US trade tensions escalate

DUBAI: India’s biggest jeweller and watchmaker Titan is exploring shifting some manufacturing to the Middle East...

Published 05 Aug, 2025 08:19pm

Companies

Indian biscuit maker Britannia misses profit estimates, but flags urban demand uptick

Britannia Industries posted first-quarter profit below estimates on Tuesday, but the Indian biscuit maker said urban...

Published 05 Aug, 2025 08:16pm

Money & Banking

Head of India’s ICICI Bank treasury to move to securities unit, sources say

MUMBAI: The head of treasury at India’s ICICI Bank will move to the private lender’s securities arm, according to...

Published 05 Aug, 2025 08:12pm

Business & Finance

Govt appoints two new members to Privatisation Commission Board

The federal government has appointed Asif Ali Qureshi and Amir Shehzad as members of the Privatisation Commission...

Published 05 Aug, 2025 07:57pm

Commodities

Wheat down 1-2 cents, corn down 1-2, soybeans up 4 to 5

CHICAGO: The following are U.S. expectations for the resumption of grain and soy complex trading on Tuesday. Wheat -...

Published 05 Aug, 2025 06:48pm

Companies

India’s Bharti Airtel posts quarterly profit jump on tariff gains

India’s second-largest telecom operator Bharti Airtel posted a 43% rise in quarterly profit on Tuesday, driven by...

Published 05 Aug, 2025 06:42pm

Companies

India scraps central renewable energy pricing pools to speed up power deals

India has scrapped a central pricing system for renewable energy projects after developers raised concerns that it...

Published 05 Aug, 2025 06:35pm

Business & Finance

EV subsidy: 116,000 electric bikes, 3,170 electric rickshaws/loaders to be introduced

Rs9 billion already made for FY2025-26 to finance initiative, says Finance Division

Updated 05 Aug, 2025 10:59pm

Business & Finance

US trade gap shrinks on imports retreat as tariffs fuel worries

WASHINGTON: The US trade gap narrowed in June, government data showed Tuesday, as imports pulled back more than...

Published 05 Aug, 2025 06:09pm

Industry

Gwadar Port Authority to partner with Chinese firm to boost investments

KARACHI: The Gwadar Port Authority (GPA) signed on Tuesday a letter of intent (LoI) with Chinese firm Xinning...

Updated 05 Aug, 2025 11:06pm

Middle East

Abu Dhabi’s MGX could raise up to $25bn for AI fund, Bloomberg News says

Abu Dhabi-based MGX is considering plans to raise as much as $25 billion in third-party capital as the investment...

Published 05 Aug, 2025 05:25pm

Commodities

Gold price per tola drops Rs1,500 in Pakistan

Gold prices in Pakistan declined on Tuesday, following a downward trend in the international market. In the local...

Updated 05 Aug, 2025 05:51pm

Companies

Caterpillar warns of up to $1.5 billion tariff hit, profit misses on weak demand

Caterpillar missed second-quarter profit expectations on Tuesday due to sluggish demand for construction equipment...

Published 05 Aug, 2025 05:15pm

Financial

India bonds inch lower ahead of RBI policy decision

MUMBAI: Indian government bonds dipped slightly on Tuesday as traders braced for the central bank’s policy decision...

Published 05 Aug, 2025 05:10pm

Currency

Weak Indian rupee may blunt US tariff bite, say economists

MUMBAI: The Indian rupee’s recent slide may help soften the blow from higher U.S. tariffs, economists said, with...

Published 05 Aug, 2025 05:07pm

Companies

India’s insurance regulator fines Policybazaar 50 million rupees for lapses

India’s insurance regulator has fined PB Fintech’s online insurance aggregator arm, Policybazaar, 50 million rupees...

Published 05 Aug, 2025 05:00pm

Markets

India’s tax department investigating Jane Street over possible tax treaty misuse, sources say

NEW DELHI: India’s tax authorities are investigating whether Jane Street violated tax laws by booking profits via...

Published 05 Aug, 2025 04:55pm

Companies

India’s Adani Ports posts quarterly profit rise on cargo volume growth

India’s Adani Ports and Special Economic Zone logged a quarterly profit rise on Tuesday, boosted by growing cargo...

Published 05 Aug, 2025 04:52pm

South Asia

India accuses EU, US of double standard over Russian trade

NEW DELHI: India has sharply criticised the United States and the European Union, saying it is being unfairly...

Published 05 Aug, 2025 04:49pm

Financial

Indian markets regulator aims for fewer related-party deals being reported, needing investor nod

India’s markets regulator on Monday proposed that low-value transactions between interconnected entities, or...

Published 05 Aug, 2025 04:39pm

Companies

India services growth hits 11-month high in July on stronger exports, PMI shows

BENGALURU: Growth in India’s services sector accelerated to an 11-month high in July, driven by strong international...

Published 05 Aug, 2025 04:36pm

Companies

India’s Nayara exports first gasoline since sanctions, sources say

NEW DELHI/SINGAPORE: Russia-backed Indian refiner Nayara Energy has exported its first gasoline cargo since the...

Published 05 Aug, 2025 04:33pm

Markets

Dovish India RBI tone may aid sustained lower yields more than rate cut, traders say

MUMBAI: A dovish commentary and downward revision to economic forecasts by the Reserve Bank of India could drive a...

Published 05 Aug, 2025 04:31pm

Companies

India’s corporate earnings growth stays weak, banks and IT firms disappoint

India’s listed companies posted yet another quarter of lackluster earnings in the April-to-June period, extending a...

Published 05 Aug, 2025 04:28pm

Companies

Castrol India’s second-quarter profit rises on higher demand

Castrol India reported a 5.1% rise in second-quarter profit on Tuesday, fuelled by steady demand for its automobile...

Published 05 Aug, 2025 04:22pm

Forex

RBI intervention shields Indian rupee from record low after Trump tariff threat

MUMBAI: The Indian rupee extended its decline on Tuesday on the back of escalating trade tensions with the United...

Published 05 Aug, 2025 04:19pm

Stocks

Indian shares drop on Trump’s renewed tariff threats over Russian oil purchases

Indian shares declined on Tuesday as investors stayed cautious after U.S. President Donald Trump’s renewed threat of...

Published 05 Aug, 2025 04:13pm

Commodities

Palm oil gains on bargain buying, improved export hopes

KUALA LUMPUR: Malaysian palm oil futures settled higher on Tuesday, supported by bargain buying and stronger Dalian...

Published 05 Aug, 2025 04:11pm

Business & Finance

Pakistan, UK agree to deepen defence cooperation

Pakistan and the United Kingdom have agreed to enhance cooperation in the field of defence, reaffirming their...

Published 05 Aug, 2025 04:08pm

Companies

Sally Textile says unaware in unusual price movement of shares

Sally Textile Mills Limited said on Tuesday that it was not aware of any development that led to the recent movement...

Published 05 Aug, 2025 03:50pm

Taxes

Govt confident of full-year achievement as FBR meets July tax target

After meeting its revenue target for July, the government believes that the Federal Board of Revenue (FBR) is on...

Published 05 Aug, 2025 01:59pm

Stocks

European shares rise amid earnings flurry

European shares rose on Tuesday, with a slate of earnings and data on watch while investor sentiment improved on...

Published 05 Aug, 2025 01:28pm

Markets

US tariff of 15% on EU goods is all-inclusive: EU official

BRUSSELS: The 15% tariff that European Union goods face when entering the United States is all-inclusive,...

Published 05 Aug, 2025 01:23pm

Markets

Toyota, Honda brace for profit falls as US tariffs, strong yen weigh

TOKYO: Toyota Motor and Honda Motor are expected to report weaker first-quarter earnings this week, as U.S. import...

Published 05 Aug, 2025 01:15pm

Mutual Funds

India bonds inch lower, test key level ahead of RBI rate decision

MUMBAI: Indian government bonds dipped slightly in early deals on Tuesday, testing a key technical level, while...

Published 05 Aug, 2025 12:17pm

Forex

China’s yuan little changed against US dollar on tariff caution

HONG KONG: China’s yuan was little changed against the U.S. dollar on Tuesday following upbeat domestic economic...

Published 05 Aug, 2025 11:55am

Business & Finance

Pakistan’s budget deficit at 5.4% of GDP; primary surplus climbs to 2.4% in FY25

Pakistan’s budget deficit was recorded at Rs6.17 trillion, i.e. 5.4% of the GDP, during the fiscal year 2024-25,...

Updated 05 Aug, 2025 10:59pm

Business & Finance

Hugo Boss reports Q2 operating profit beat supported by cost cuts

German fashion group Hugo Boss reported a slightly better than expected quarterly operating profit on Tuesday,...

Published 05 Aug, 2025 11:54am

Energy

BP reports $2.53 billion second-quarter profit, beating expectations

LONDON: BP on Tuesday posted a second-quarter underlying replacement cost profit, or adjusted net income, of $2.35...

Published 05 Aug, 2025 11:52am

Energy

Saudi Aramco second-quarter net profit drops 22% on lower revenue

DUBAI: Saudi Arabian oil company Aramco reported a 22% drop in second-quarter profit on Tuesday, mainly due to lower...

Published 05 Aug, 2025 11:51am

Commodities

Iron ore extends gains on resilient China demand

BEIJING: Iron ore futures climbed for a third straight session on Tuesday, aided by resilient near-term demand in...

Published 05 Aug, 2025 11:25am

Stocks

China stocks extend gains as key services data lifts sentiment

HONG KONG: China and Hong Kong stocks climbed for a second consecutive session on Tuesday, recovering from steep...

Published 05 Aug, 2025 11:20am

Commodities

Ample production pushes wheat towards 5-year lows

CANBERRA: Chicago wheat futures fell to a three-month low on Tuesday, with prices drifting towards their lowest...

Published 05 Aug, 2025 11:18am

Forex

Australia dollar slips on rate burden, kiwi braces for jobs data

SYDNEY: The Australian dollar slipped on Tuesday as soft local data underscored market wagers for a rate cut next...

Published 05 Aug, 2025 11:16am

Stocks

Miners and banks drive Australian shares higher

Australian shares climbed on Tuesday, driven by gains in miners and banks, while investors globally firmed their...

Published 05 Aug, 2025 11:15am

Stocks

Japan’s Nikkei tracks Wall Street higher; chip-related stocks drag

TOKYO: Japan’s Nikkei share average rose on Tuesday, supported by Wall Street’s strong finish overnight, but losses...

Published 05 Aug, 2025 11:14am

Commodities

Palm oil climbs on bargain buying, improved export hopes

KUALA LUMPUR: Malaysian palm oil futures rose on Tuesday as bargain buying and stronger Dalian palm olein supported...

Published 05 Aug, 2025 11:12am

Mutual Funds

Philippines retail T-bonds fetches coupon rate of 6.0%

MANILA: Following are the results of the Philippine Bureau of the Treasury’s (BTr) auction of retail T-bonds due...

Published 05 Aug, 2025 11:07am

Currency

Rupee climbs against US dollar

Currency settles at 282.57 against greenback

Updated 05 Aug, 2025 06:49pm

Stocks

Yet another record high as KSE-100 soars past 143,000 points

Benchmark index closes at 143,037.17, with increase of 984.52 points

Updated 05 Aug, 2025 09:41pm

Markets

Gold rises for fourth session as US jobs data lifts Fed rate cut bets

Gold nudged higher for a fourth session on Tuesday, supported by a softer dollar and lower Treasury yields as...

Published 05 Aug, 2025 08:22am

Stocks

Indian equity benchmarks to open flat as investors assess Trump’s tariff threat

India’s equity benchmarks are set to open little changed on Tuesday after U.S. President Donald Trump reiterated his...

Published 05 Aug, 2025 08:16am

Forex

Indian rupee at risk of lifetime low after Trump ups tariff threat on India

MUMBAI: The Indian rupee may drop past 88 to the U.S. dollar to an all-time low on Tuesday after U.S. President...

Published 05 Aug, 2025 08:14am

Forex

Dollar weakens as rate cut odds rise, tariff uncertainties linger

SINGAPORE: The U.S. dollar wavered on Tuesday as the rising odds of Federal Reserve rate cuts weighed on sentiment,...

Published 05 Aug, 2025 08:12am

Stocks

Shares in Asia rally, dollar lower against yen on Fed rate cut bets

TOKYO: Shares in Asia rose for a second consecutive session and the U.S. dollar held most of its losses on Tuesday...

Published 05 Aug, 2025 08:09am

Energy

Oil slips as OPEC+ output hikes counter Russia disruption concerns

LONDON: Oil slipped over 1% on Tuesday as rising OPEC+ supply and worries of weaker global demand countered concern...

Updated 05 Aug, 2025 06:44pm

Industry

KATI for removal of Iran-Pakistan trade barriers

KARACHI: Calling for enhanced governmental support, the President of the Korangi Association of Trade and Industry...

Published 05 Aug, 2025 07:08am

Energy

KE introducing new layout of bill

KARACHI: In another move to enhance communication between the power utility and its customers, K-Electric (KE) is...

Published 05 Aug, 2025 07:00am

Business & Finance

PCA audit report: FCA: Rs38bn revenue losses suffered in 3 months

KARACHI: Pakistan’s much-touted Faceless Customs Assessment (FCA) system has suffered a massive revenue loss of ...

Published 05 Aug, 2025 06:58am

Business & Finance

TOMCL enters new market in Tajikistan

KARACHI: The Organic Meat Company Limited (TOMCL) has announced a significant expansion of its international market...

Published 05 Aug, 2025 06:55am

Business & Finance

‘Same-day tax recovery from banks after notice issuance is unlawful’

LAHORE: Tax recovery from banks on behalf of taxpayers on same day after issuance of a notice is unlawful, said tax...

Updated 05 Aug, 2025 11:42am

Money & Banking

Dollar rebounds slightly

NEW YORK: The US dollar modestly recovered on Monday after a trio of market-moving events on Friday that highlighted...