News Archives for Business & Finance - 2026-04-29

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Business & Finance - 2026-04-29

Markets

Fed holds rates steady, cites elevated inflation; three dissents against 'easing bias'

"Inflation is elevated, in part reflecting the recent increase in global energy prices,"

Published 29 Apr, 2026 11:43pm

Business & Finance

Gohar Ejaz says interest rate hikes miss root causes of inflation

Former caretaker federal minister Gohar Ejaz on Wednesday questioned the effectiveness of monetary tightening in...

Published 29 Apr, 2026 11:08pm

Markets

Pakistan approves national policy on vaccine production

Country has to achieve self-sufficiency in immunisation production, as supply of subsidised booster doses from global partners ends in 2030-31

Published 29 Apr, 2026 10:46pm

Business & Finance

Pakistan, EU bank sign €100mln agreement for Sindh flood housing reconstruction

Project aims to help rebuild homes for families affected by the 2022 floods in rural Sindh

Published 29 Apr, 2026 10:04pm

Business & Finance

PC Board recommends transaction structure for ZTBL privatisation

The Privatisation Commission (PC) Board endorsed on Wednesday proposed transaction structure and a comprehensive...

Published 29 Apr, 2026 08:23pm

Business & Finance

CCP approves PIA acquisition by Arif Habib-led consortium

Approval follows a Phase-I competition assessment under the Competition Act, 2010

Published 29 Apr, 2026 07:58pm

Markets

TotalEnergies first-quarter profits surge amid Middle East war

PARIS: French oil and gas giant TotalEnergies said Wednesday net profit rose 51 percent in the first quarter to $5.8...

Published 29 Apr, 2026 07:56pm

Stocks

Most Gulf markets rise as investors assess Iran stalemate, UAE OPEC exit

Dubai’s main share index edged 0.1% higher

Published 29 Apr, 2026 07:54pm

USA

Trump met with oil firms on possible months-long extension of Iran blockade

'President is doing all the right things right now,' White House says

Published 29 Apr, 2026 07:46pm

Stocks

Wall Street slips ahead of Big Tech earnings, Fed meeting

Dow Jones Industrial Average fell 274.77 points, or 0.56%, to 48,867.16

Published 29 Apr, 2026 07:37pm

South Asia

India economy resilient but faces rising risks from Mideast war, government report says

'India enters FY2026-27 at the intersection of domestic resilience and external turbulence,' report says

Published 29 Apr, 2026 07:32pm

Companies

Indian refiners limit use of special FX credit line, sources say, spelling more rupee strain

India in mid-April offered state-run oil refiners a special FX credit line through State Bank of India

Published 29 Apr, 2026 07:24pm

Pakistan

Pakistan can rise as regional economic power through maritime reforms, says minister

Maritime minister highlights strategic importance of Indian Ocean as key link between Middle East, Asia, Africa, and Europe

Updated 29 Apr, 2026 08:31pm

Commodities

Copper rises for first time in five days on China buying, disruption fears

Benchmark three-month copper on the London Metal Exchange was up 0.3% at $13,072 a metric ton

Published 29 Apr, 2026 05:37pm

Financial

Bajaj Finance posts higher profit on loan growth, lower provisions

The non-banking financial company’s consolidated net profit rose to 54.65 billion Indian rupees

Published 29 Apr, 2026 05:26pm

Financial

Indian bonds slip as oil surges, Fed outcome looms

The benchmark 6.48% 2035 bond yield settled at 6.9928%

Published 29 Apr, 2026 05:18pm

Stocks

Sri Lankan shares end flat as utilities losses offset healthcare gains

CSE All Share index settled 0.07% higher at 22,635.00

Published 29 Apr, 2026 05:13pm

Commodities

India's gold investment demand tops jewellery for first time ever in March quarter

Investment demand in the March quarter surged 52% from a year earlier to 82 metric tons

Published 29 Apr, 2026 04:54pm

Financial

India's DSP favours short and ultra-long debt to manage geopolitical risk, exec says

India’s 10-year bond yield has risen by 31 basis points since the US-Israeli war on Iran begins

Published 29 Apr, 2026 04:49pm

Financial

Cities near Mumbai to issue bonds for the first time, bankers say

Navi Mumbai is targeting a fund raise of around 10 billion Indian rupees

Published 29 Apr, 2026 04:30pm

Forex

Indian rupee hits record closing low hurt by surging oil, persistent outflows

Indian rupee closed at 94.8450 per dollar, down 0.3%

Published 29 Apr, 2026 04:16pm

Stocks

Indian shares advance as earnings optimism counters oil surge

Nifty 50 rose 0.76% at 24,177.65, and Sensex added 0.79% to 77,496.36

Published 29 Apr, 2026 04:14pm

Companies

Sea Link eyes to acquire majority stake in Pakistan International Container Terminal

Pakistan International Container Terminal Limited (PICT) announced on Wednesday that it had received a notice...

Published 29 Apr, 2026 03:21pm

Markets

Pakistan’s weekly oil import bill jumps to $800mn amid US-Iran conflict, says PM

Oil consumption has significantly decreased in the country, says PM Shehbaz

Updated 29 Apr, 2026 07:03pm

Commodities

Gold price per tola drops by Rs5,500 in Pakistan

International rate of gold declines by $55 to reach $4,572 per ounce

Updated 29 Apr, 2026 07:31pm

Money & Banking

SBP eases lending rules under ‘Wazir-e-Azam Apna Ghar Program’ to boost housing finance

SBP has directed banks and HBFCL to ensure meticulous compliance with the instructions

Published 29 Apr, 2026 02:20pm

Stocks

Service Long March Tyres advances Rs7.8bn IPO, book-building set for May

The IPO proceeds will support the company’s planned expansion into passenger car radial tyre manufacturing.

Published 29 Apr, 2026 01:45pm

Stocks

Major Gulf markets rise as investors weigh Iran stalemate, UAE OPEC exit April

ADNOC Drilling surged 8.3%, ADNOC Gas advanced 3.1% and ADNOC Logistics & Services jumped 6.8%

Published 29 Apr, 2026 01:23pm

Business & Finance

Chinese firms urged to expand footprint in Pakistan’s key sectors

President Asif Ali Zardari has invited greater Chinese investment in Pakistan’s key sectors, including alternative...

Published 29 Apr, 2026 01:04pm

Companies

Attock Cement appoints Omer Ashraf as CEO

Attock Cement clarified on Wednesday that Omer Ashraf was appointed Chief Executive Officer (CEO) of the company,...

Published 29 Apr, 2026 12:31pm

Markets

UBS beats profit expectations on market volatility

UBS reasserted its intention to repurchase at least $3 billion of shares in 2026

Published 29 Apr, 2026 11:40am

Markets

Mercedes-Benz profit slides amid cutthroat Chinese market

Mercedes said car sales by volume in China fell 27 percent in the first three months of 2026

Published 29 Apr, 2026 11:33am

Commodities

Chicago wheat hits near two-year high on dryness concerns

Corn rose and hovered near a two-month high, buoyed by strong export demand and weather concerns in the US corn belt

Published 29 Apr, 2026 11:13am

Commodities

Shanghai nickel hits three-month high on supply worries

It hit the highest since January 26 at 152,230 yuan earlier in the session

Published 29 Apr, 2026 11:12am

Forex

Thai baht/US dollar weaker on Wednesday

The baht was 0.29% lower at 32.58 versus the dollar, after trading in a range of 32.480 to 32.585

Published 29 Apr, 2026 11:10am

Energy

China extends fuel export control, with May shipments to rise modestly, sources say

Countries such as Cambodia, Laos, Australia, Bangladesh, Maldives and Myanmar are expected to receive fuels

Published 29 Apr, 2026 11:08am

Stocks

Rare earth and battery stocks lead China shares higher

China’s blue-chip CSI300 Index climbed 0.6% by the lunch break, while the Shanghai Composite Index gained 0.4%

Published 29 Apr, 2026 11:05am

Commodities

Iron ore gains on China's plan to expand loan issuance

The benchmark June iron ore on the Singapore Exchange was 0.3% higher at $106.1 a ton

Published 29 Apr, 2026 11:03am

Commodities

Palm tracks Dalian palm olein, Chicago soyoil lower

The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange slid 32 ringgit, or 0.71%, to 4,504 ringgit

Published 29 Apr, 2026 10:58am

Mutual Funds

India bonds set to slide on relentless oil upswing; Fed meet in focus

The benchmark 6.48% 2035 bond yield is expected to drift within the 6.96%-7.02% range

Published 29 Apr, 2026 10:57am

Stocks

South Korean shares little changed ahead of earnings, Fed outcome

The benchmark KOSPI was up 6 points, or 0.09%, at 6,647.02

Published 29 Apr, 2026 10:55am

Forex

Yuan steady in thin trading ahead of holiday; focus shifts to Fed

The spot yuan opened at 6.8362 per dollar and was last trading at 6.8373

Published 29 Apr, 2026 10:53am

Stocks

Australian shares pare losses after softer core inflation cools rate-hike bets

The S&P/ASX 200 was trading 0.1% lower, or 7.4 points, at 8,703.30 points

Published 29 Apr, 2026 10:51am

Stocks

Australian dollar dips as core inflation misses high expectations

The Aussie eased 0.2% to $0.7164, once again stalling at resistance around $0.7200 overnight

Published 29 Apr, 2026 10:50am

Stocks

Pakistan Stock Exchange to remain closed on May 1

Pakistan Stock Exchange Limited (PSX) will remain closed on Friday, i.e., May 1, which is a public holiday declared...

Published 29 Apr, 2026 10:38am

Energy

Electricity supply improves as plants move to local gas: PD

The Power Division (PD) said on Wednesday that electricity generation had further improved due to the supply of...

Published 29 Apr, 2026 10:10am

Stocks

Selling engulfs bourse, KSE-100 loses nearly 2,600 points

Benchmark index settles at 165,823.87

Updated 29 Apr, 2026 06:01pm

Forex

Indian rupee losing run seen extending on familiar headwinds: oil, demand‑supply mismatch

The rupee is expected to open in the 94.64-94.68 range, traders said, after settling at 94.54 on Tuesday

Published 29 Apr, 2026 08:02am

Stocks

Indian shares seen opening higher; elevated oil to cap gains

GIFT Nifty futures ‌were trading at 24,099.50 points

Published 29 Apr, 2026 08:00am

Bullion Rate

Gold steady as markets await Powell's comments on Iran war impact

Spot gold was up 0.1% at $4,597.07 per ounce
US gold futures for June delivery were steady at $4,610.20

Updated 29 Apr, 2026 10:33am

Forex

Dollar steady as investors brace for Fed decision in face of war

AgAgainst the dollar, the euro last bought $1.1716 while sterling was little changed at $1.3523
The New Zealand dollar rose 0.05% to $0.5888

Updated 29 Apr, 2026 01:10pm

Companies

Arthur Lawrence, BPO unveil ‘Beyond&’ to redefine global finance, accounting services

KARACHI: Arthur Lawrence, a global management and technology consulting firm, and the BPO, a global financial and...

Published 29 Apr, 2026 07:42am

Stocks

Stocks retreat on Iran, AI concerns as Fed meeting looms

MSCI's broadest index of ‌Asia-Pacific shares outside Japan eased 0.2%, retreating for a second day from record highs set on Monday

Published 29 Apr, 2026 07:39am

Energy

Oil prices jump to the highest in weeks as global supply worries mount

Brent crude futures for June rose $6.08, or 5.5%, to $117.34 a barrel
US WTI futures for June rose $5.26, or 5.3%, to $105.19 a barrel

Updated 29 Apr, 2026 09:26pm

Industry

Diplomats seek stronger Pakistan-Asean trade

LAHORE: Diplomats and business leaders from across Southeast Asia gathered at the Lahore Chamber of Commerce &...

Published 29 Apr, 2026 07:29am

Industry

Ministry, KPT chief lauded for safeguarding exporters’ interests

KARACHI: Chairman Businessmen Group Zubair Motiwala and President Karachi Chamber of Commerce & Industry (KCCI),...

Published 29 Apr, 2026 07:25am

Business & Finance

PBF asks govt to adopt growth-oriented policies

KARACHI: The Pakistan Business Forum (PBF) has urged policymakers to introduce attractive and consistent economic...

Published 29 Apr, 2026 07:19am

Industry

Trade, industry and agriculture: Sindh, Uzbekistan’s Navoiy region agree to deepen cooperation

KARACHI: Sindh Chief Minister Syed Murad Ali Shah and Governor of Uzbekistan’s Navoiy Region, TURSUNOV Normat...

Updated 29 Apr, 2026 07:48am

Business & Finance

First tanker loaded with LNG leaves Gulf

PARIS: A ship fully loaded with liquefied natural gas (LNG) has passed through the Strait of Hormuz for the first...