News Archives for Business & Finance - 2025-08-15

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Business & Finance - 2025-08-15

Business & Finance

CCP’s order against GCC Medical Centres upheld

The Competition Appellate Tribunal (CAT) upheld the Competition Commission of Pakistan’s (CCP) order against 20...

Published 15 Aug, 2025 10:13pm

Stocks

Toronto stocks subdued as investors await pivotal US-Russia meet

Canada’s main stock index was flat on Friday as investors awaited a high-stakes meeting between U.S.President Donald...

Published 15 Aug, 2025 09:13pm

Stocks

Dow briefly hits record high on UnitedHealth’s gains; data in focus

The blue-chip Dow briefly hit a record high on Friday, as UnitedHealth’s shares jumped after Berkshire Hathaway...

Published 15 Aug, 2025 09:11pm

Markets

SBP-held foreign exchange reserves increase $11mn to $14.24bn

Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $11 million on a weekly basis,...

Published 15 Aug, 2025 08:13pm

Industry

RLNG import glut: Pakistan oil, gas production hit over two-decade low in FY25

KARACHI: Pakistan’s oil and gas production hit over two-decade low in the financial year 2024-25 (FY25), with oil...

Published 15 Aug, 2025 08:01pm

Business & Finance

Privatisation Commission signs financial advisory pact for ZTBL sell-off

The Privatisation Commission (PC) has signed a Financial Advisory Services Agreement (FASA) with a consortium led by...

Published 15 Aug, 2025 07:36pm

Commodities

Wheat up 2-4 cents, corn up 3-5 cents, soy up 7-9 cents

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

Published 15 Aug, 2025 07:07pm

Industry

PM Shehbaz launches Chinese textile group’s economic zone, expecting $400m in exports

Prime Minister Shehbaz Sharif launched on Friday a Special Economic Zone (SEZ) to be set up by a Chinese textile...

Published 15 Aug, 2025 07:05pm

USA

Trump says he will set tariffs on steel and semiconductor chips in coming weeks

ABOARD AIR FORCE ONE: U.S. President Donald Trump said on Friday he would announce tariffs on imports of steel and...

Published 15 Aug, 2025 07:02pm

Money & Banking

SBP issues Rs75 commemorative coin to celebrate Marka-e-Haq, Independence Day

The State Bank of Pakistan (SBP) issued on Friday a commemorative coin of Rs75 to celebrate Marka-e-Haq - a military...

Published 15 Aug, 2025 06:53pm

Energy

Global LNG: Asian spot LNG prices ease as markets eye Trump-Putin meeting

LONDON: Asian spot liquefied natural gas (LNG) prices declined this week on soft demand and strong storage...

Published 15 Aug, 2025 06:52pm

Commodities

Copper slips on worries over weak Chinese data

LONDON: Copper prices eased on Friday on gloomy economic data from top metals consumer China, thoughlosses were...

Published 15 Aug, 2025 05:59pm

Stocks

Dubai gains on strong corporate earnings; oil drags Abu Dhabi

Dubai’s main equities index closed higher on Friday, aided by robust corporate earnings and optimism around key...

Published 15 Aug, 2025 05:21pm

Commodities

Arabica coffee hits 6-week high, buoyed by low stocks

LONDON: Arabica coffee futures on ICE climbed to a six-week high on Friday, boosted partly by low exchange stocks,...

Published 15 Aug, 2025 05:14pm

South Asia

India PM Modi vows October cuts to goods and services tax

NEW DELHI: Indian Prime Minister Narendra Modi said on Friday the goods and services tax (GST) would be reformed and...

Published 15 Aug, 2025 05:09pm

Companies

India’s IOC buys 2 million barrels of US WTI crude for October, sources say

SINGAPORE: State refiner Indian Oil Corp (IOC) has bought two million barrels of U.S. West Texas Intermediate crude...

Published 15 Aug, 2025 05:06pm

Markets

India’s financial crime fighting agency searches Vuenow Infratech premises

India’s financial crime fighting agency searched the residential and business premises of Vuenow group of companies,...

Published 15 Aug, 2025 05:03pm

Business & Finance

EV bike sales surge to record high despite infrastructure challenges

100,000 EVs are expected to be sold in 2025, up from just 2,000 in 2022

Updated 15 Aug, 2025 08:14pm

Stocks

Sri Lankan shares log weekly gain after central bank’s 2025 growth outlook

CSE All-Share index settled up 1.45% at 20,218.36

Published 15 Aug, 2025 04:39pm

Commodities

Palm oil books more than 5% weekly gain

JAKARTA: Malaysian palm oil futures closed higher on Friday and booked a second weekly gain, after data showed...

Published 15 Aug, 2025 04:37pm

Stocks

European shares hit near five-month high on upbeat earnings season

European shares hit a near five-month high on Friday, as investors looked past a US inflation spike and drew support...

Published 15 Aug, 2025 04:06pm

Stocks

FTSE 100 steady after intraday record high; focus on Putin-Trump talks

Britain’s FTSE 100 was flat on Friday, despite momentarily scaling to an all-time intraday high, as defence stocks...

Published 15 Aug, 2025 03:50pm

Business & Finance

Aurangzeb orders swift launch of skills bond, farmers scheme, and fan replacement programme

Finance Minister Muhammad Aurangzeb has directed authorities to fast-track the roll-out of three crucial social...

Published 15 Aug, 2025 03:48pm

Business & Finance

Gold price per tola sheds Rs1,000 in Pakistan

Gold prices in Pakistan decreased on Friday in line with their loss in the international market. In the local...

Updated 15 Aug, 2025 05:39pm

Markets

Pakistan, US vow to advance new trade agreement, boost trade & investment

Aurangzeb foresees a new era via trade deal

Updated 15 Aug, 2025 10:34pm

Companies

KAPCO appoints Lt-Gen Muhammad Saeed (retd) as chairman

Kot Addu Power Company Limited (KAPCO) has appointed Lt. General Muhammad Saeed (retd) as the company’s new chairman...

Updated 16 Aug, 2025 02:24pm

Mutual Funds

Euro zone bonds steady as traders mull hot US inflation, await Alaska summit

LONDON: Euro zone bonds held steady as markets continue to digest Thursday’s hot US inflation print while awaiting...

Published 15 Aug, 2025 12:29pm

Companies

Pakistan Refinery to shut down plant for ‘approximately 15 days’

Pakistan Refinery Limited (PRL) announced on Friday that it will be shut down from August 17 for 15 days. This was...

Published 15 Aug, 2025 12:03pm

Bullion Rate

Asia Gold: Price retreat buoys demand in India; activity muted elsewhere

Physical gold demand in India improved slightly this week as a price pullback lifted buying interest among...

Published 15 Aug, 2025 11:40am

Markets

Shein’s UK sales surge to $2.8 billion in 2024, boosting profits as IPO looms

LONDON: Shein’s British business made 2.05 billion pounds ($2.77 billion) in sales in 2024, a 32.3% increase from...

Published 15 Aug, 2025 11:23am

Markets

Saudi Arabia, Chile to resume poultry imports from Brazil, memos say

SAO PAULO: Saudi Arabia has lifted a ban on poultry imports from Brazil’s southernmost state of Rio Grande do Sul,...

Published 15 Aug, 2025 11:20am

Stocks

Asia markets recover after hot U.S. price data

SINGAPORE: Stocks in Asia made an uneven recovery as traders assessed the policy options facing the world’s central...

Published 15 Aug, 2025 11:11am

Stocks

China stocks eye biggest weekly gain in 7 months as risk appetite defies weak data

SHANGHAI: China stocks rose on Friday, and were on track to post their biggest weekly gain in seven months, as...

Published 15 Aug, 2025 10:59am

Forex

Yuan slips from two-week high as China data disappoints

HONG KONG: China’s yuan eased against the US dollar on Friday, pulling back from a two-week high, as...

Published 15 Aug, 2025 10:56am

Markets

China’s July factory output, retail sales growth slump in blow to economic momentum

BEIJING: China’s factory output growth slumped to an eight month low in July, while retail sales also slowed...

Published 15 Aug, 2025 10:53am

Commodities

Corn rises but higher output estimates keep prices near contract lows

CANBERRA: Chicago corn futures rose slightly on Friday, but were down almost 2% over the week and near contract lows...

Published 15 Aug, 2025 10:50am

Forex

Australia, NZ dollars suffer setback, NZ food prices shock

SYDNEY: The Australian and New Zealand dollars were back on the defensive on Friday after a high reading on US...

Published 15 Aug, 2025 10:48am

Stocks

Australian shares cross 8,900 level for first time, banks do the heavy lifting

Australian shares crossed the key 8,900 level for the first time on Friday, buoyed by gains in major banks as...

Published 15 Aug, 2025 10:46am

Forex

Japan’s Nikkei rises as yen weakens, economy shows resilience

TOKYO: Japan’s Nikkei advanced on Friday, capping a week in which the benchmark index climbed to a record high, as...

Published 15 Aug, 2025 10:43am

Forex

Dollar steadies as hot wholesale inflation data tempers rate cut fervour

SINGAPORE: The dollar held on to previous session gains on Friday after hotter than expected inflation data prompted...

Published 15 Aug, 2025 10:41am

Energy

Oil falls ahead of Trump-Putin summit in Alaska

LONDON: Oil prices declined on Friday as traders awaited talks between U.S. President Donald Trump and Russian...

Updated 15 Aug, 2025 07:49pm

Bullion Rate

Gold set for weekly drop as US data dims large Fed rate cut hopes

Gold prices gained on Friday, helped by a pullback in the dollar, although bullion was headed for a weekly fall as...

Published 15 Aug, 2025 10:33am

Commodities

Palm little changed; heads for second weekly gain

JAKARTA: Malaysian palm oil futures were little changed on Friday but were set for a second weekly gain, with...

Published 15 Aug, 2025 10:31am

Money & Banking

Call option: Askari Bank to redeem Rs6bn TFCs early

Askari Bank Limited has announced plans to redeem its Rs6 billion (USD 21.14 million) subordinated, unsecured Term...

Published 15 Aug, 2025 10:29am

Currency

Rupee sees 6th successive gain against US dollar

Currency settles at 282.06 against greenback

Updated 15 Aug, 2025 07:52pm

Stocks

KSE-100 Index closes flat as selling erases intra-day gains

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 closed flat on Friday, as selling in the final hours erased...

Updated 15 Aug, 2025 06:30pm

Business & Finance

Credit rating upgradation: Business bodies laud Moody’s decision

KARACHI: Leading business organisations in Pakistan, including the Federation of Pakistan Chambers of Commerce and...

Published 15 Aug, 2025 06:12am

World

India trade deficit hits eight-month high in July ahead of US tariff hikes

NEW DELHI: India’s merchandise trade deficit hit an eight-month high of over $27 billion in July as imports surged...