News Archives for Business & Finance - 2025-09-03

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Business & Finance - 2025-09-03

Taxes

FIA arrests FBR officials in smuggled vehicle legalisation case

A wider criminal racket involved in case, FBR says

Updated 04 Sep, 2025 12:51am

Money & Banking

‘Critical’ to stay independent of politics: Fed official

WASHINGTON: A top Federal Reserve official said Wednesday the US central bank has stayed independent of political...

Published 03 Sep, 2025 09:49pm

Markets

India to test battery storage at coal plants to balance grid as solar power surges

NEW DELHI: India will test the installation of battery storage systems at some coal power plants, as the country...

Published 03 Sep, 2025 07:32pm

Business & Finance

Senate panel proposes placing Virtual Assets Authority under Finance Division

The Senate Standing Committee on Finance and Revenue on Wednesday recommended to place the Virtual Assets Authority...

Published 03 Sep, 2025 07:12pm

Business & Finance

Pakistan’s blue economy: seafood exports can hit $2bn with right policies

Pakistan’s seafood exports are currently worth roughly $500 million annually, says one expert

Published 03 Sep, 2025 04:13pm

Companies

HUBCO Green expands EV charging network in Pakistan’s major cities

HUBCO Green (Private) Limited (HGL), a subsidiary of Hub Power Holdings Limited (HPHL), has operationalised eight...

Published 03 Sep, 2025 03:50pm

Energy

OPEC+ to consider further oil output hike on Sunday, sources say

LONDON/MOSCOW: OPEC+ will consider further raising oil production at a meeting on Sunday, two sources familiar with...

Published 03 Sep, 2025 03:47pm

Companies

Etihad first-half profit best yet on global expansion, passenger growth

Abu Dhabi’s Etihad Airways first half was its most profitable yet, the company said Wednesday, as its net profit...

Published 03 Sep, 2025 03:40pm

Financial

Gold prices soar to new all-time high in Pakistan

Gold prices hit fresh all-time high in Pakistan on Wednesday in line with increase in rates of the yellow metal in...

Updated 03 Sep, 2025 05:37pm

Mutual Funds

Japan 30-year bond yields hit record high

TOKYO: Japanese government bond yields hit a record high on Wednesday, following rises in the United States and...

Published 03 Sep, 2025 01:23pm

Companies

Pakistan’s largest IPP’s profit falls 31% amid lower revenue

Amid lower revenue, Hub Power Company Limited (HUBCO), Pakistan’s largest Independent Power Producer (IPP), saw its...

Updated 03 Sep, 2025 02:56pm

Energy

Shell abandons huge biofuel project in Netherlands

LONDON: British oil giant Shell announced Wednesday it has abandoned construction of one of Europe’s largest biofuel...

Published 03 Sep, 2025 01:16pm

Commodities

Pakistan cotton arrivals improve, but flood risks loom

Cotton arrival in Pakistan registered an improvement of 9% as of August 31, 2025, compared to the same period of the...

Published 03 Sep, 2025 12:49pm

Markets

European shares recover as bond selloff stabilizes ahead of US data

The STOXX 600 index was up 0.4% at 545.35 points

Published 03 Sep, 2025 12:31pm

Markets

Toyota to produce first fully-electric car in Europe at Czech plant

Toyota said on Wednesday it would build an electric vehicle model at its factory in the Czech Republic, its first...

Published 03 Sep, 2025 12:29pm

Markets

Blackstone buys $819 million trophy Paris office

LONDON: Blackstone confirmed on Wednesday it had bought a trophy office building in central Paris for about 700...

Published 03 Sep, 2025 11:35am

Currency

Winklevoss twins-backed bitcoin treasury firm to list in Amsterdam

Netherlands-based Treasury, a bitcoin treasury company backed by the US billionaire Winklevoss twins, said on...

Published 03 Sep, 2025 11:32am

Markets

Hyundai Motor union launches strikes in South Korea over wages, working hours

SEOUL: The union of South Korean carmaker Hyundai Motor will stage partial strikes over three days this week at...

Published 03 Sep, 2025 11:28am

Commodities

Palm range-bound as strong Dalian oils counters weaker Chicago soyoil

KUALA LUMPUR: Malaysian palm oil futures traded in a tight range on Wednesday, as stronger rival Dalian oils...

Published 03 Sep, 2025 11:19am

Forex

Australian dollar gets a hand from upbeat GDP, rising yields

SYDNEY: The Australian dollar edged higher on Wednesday as data showed the domestic economy rebounded by more than...

Published 03 Sep, 2025 11:17am

Stocks

Australian shares drop to two-week low as traders brace for economic data

The S&P/ASX 200 index was down 0.5% at 8,854.20 points

Published 03 Sep, 2025 11:13am

Mutual Funds

India bonds eye fiscal clarity for strong directional move

The benchmark 10-year bond yield is expected to trade in the 6.53%-6.58% range

Published 03 Sep, 2025 11:11am

Markets

Financials lead Japanese shares lower as expectations of early rate hike fade

The Nikkei slipped 0.2% to 42,220.77

Published 03 Sep, 2025 11:09am

Markets

Thai business group keeps 2025 GDP growth forecast at 1.8% to 2.2%

BANGKOK: Thailand’s economy is expected to grow by 1.8% to 2.2% this year, unchanged from a previous forecast, with...

Published 03 Sep, 2025 11:03am

Markets

TSMC, like South Korean rivals, has US fast-track export status for China revoked

Washington has revoked TSMC’s fast-track status for US chip manufacturing equipment exports to its main plant in...

Published 03 Sep, 2025 10:59am

Mutual Funds

Vietnam raises $3.8mn in govt bond auction, lowest so far this year

HANOI: Vietnam’s State Treasury raised 100 billion dong ($3.8 million) in a weekly government bond auction on...

Published 03 Sep, 2025 10:54am

Business & Finance

Business magnate Rafiq Habib passes away in Dubai

Born in 1937, he was the former chairman of the House of Habib

Updated 03 Sep, 2025 03:13pm

Exchange

Pakistani rupee registers 19th consecutive gain against US dollar

Currency settles at 281.71 against greenback

Updated 03 Sep, 2025 10:56pm

Stocks

New record high at PSX: KSE-100 Index settles above 152,000

Cement sector remains in spotlight, fueled by impressive offtake numbers

Updated 03 Sep, 2025 07:31pm

Forex

Sterling, yen dragged by fiscal and political worries

SINGAPORE: The British pound and the yen came under pressure on Wednesday, following heavy selling stoked by renewed...

Published 03 Sep, 2025 08:34am

Stocks

Long bond yields rise, gold hits record on fiscal concerns

The 30-year Japanese government bond (JGB) yield hit an unprecedented 3.255%, following a run-up in similarly dated gilts and Treasuries overnight

Published 03 Sep, 2025 08:31am

Forex

Indian rupee likely to get a breather despite challenging Asia backdrop

The 1-month non-deliverable forward indicated the rupee will open in the 88.04 to 88.08 range versus the US dollar

Published 03 Sep, 2025 08:26am

Stocks

India stock benchmarks to open flat ahead of tax council meeting

MSCI's broadest index of Asia-Pacific shares outside Japan were up 0.1%

Published 03 Sep, 2025 08:24am

Energy

Oil prices drop as OPEC+ weighs another output hike

LONDON: Oil prices fell by about 2% on Wednesday ahead of a weekend meeting of OPEC+ producers that is expected to...

Updated 03 Sep, 2025 09:41pm

Markets

Gold extends record run on strong safe-haven inflows

Spot gold was up 0.1% at $3,537 per ounce

Published 03 Sep, 2025 08:20am

Companies

EPCL launches ‘thinkPVC Lahore’

LAHORE: Engro Polymer & Chemicals Limited (EPCL) is proud to announce the launch of thinkPVC Lahore — a...

Published 03 Sep, 2025 07:52am

Companies

Jazz Business signs MoU with Mechrevo

ISLAMABAD: Jazz Business, an ICT solutions provider, has entered into an exclusive partnership with Mechrevo, a...

Published 03 Sep, 2025 07:50am

Industry

Pakistan Rice Road Show 2025 concludes

DAKAR, (Senegal): The Pakistan Rice Road Show 2025, a flagship initiative by the Trade Development Authority of...

Published 03 Sep, 2025 07:40am

Business & Finance

IMAGE REIT set for listing on PSX

KARACHI: IMAGE REIT, a Shariah-compliant hybrid and perpetual Real Estate Investment Trust (REIT) is preparing to...

Published 03 Sep, 2025 07:39am

Business & Finance

India tax panel calls for steep levies on luxury EVs in blow for Tesla, BMW

NEW DELHI: An Indian tax panel has proposed steep increases in consumer levies on luxury electric cars priced above...

Published 03 Sep, 2025 07:37am

Industry

Pakistan, Türkiye two countries one nation: outgoing CG

KARACHI: Consul General of Türkiye Dr Cemal Sangu has said that Türkiye, which considers Pakistanis as their true...

Published 03 Sep, 2025 07:29am

Money & Banking

Dollar rebounds as pound and yen slump

NEW YORK/MUMBAI: Sterling and the Japanese yen slumped on Tuesday on growing investor anxiety about government...