News Archives for Business & Finance - 2026-08-07

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Business & Finance - 2026-08-07

Companies

FESCO privatisation: Turkiye, China, Pakistan firms eye stake

Three companies from Türkiye, one from China, and eight from Pakistan submit Expressions of Interest (EOIs) for privatisation of Faisalabad Electric Supply Company

Updated 07 Aug, 2026 11:31pm

Stocks

US stocks gain as surprise payrolls fall quells rate-hike fears

Dow Jones Industrial Average rose 55.37 points, or 0.10%, to 53,940.47

Published 07 Aug, 2026 09:04pm

Money & Banking

ICICI Bank, Axis Bank tap dollar debt again in less than two months, bankers say

Both the debt placements will close for subscription next week and will be placed privately

Published 07 Aug, 2026 08:26pm

Business & Finance

Ziad Bashir assumes charge as PBC chairman

Haider Ali elected vice chairman

Updated 07 Aug, 2026 11:16pm

Companies

Ola Electric posts narrower first quarter loss on higher EV sales

Ola says orders nearly double from the previous quarter to about 44,000 units

Published 07 Aug, 2026 07:01pm

Financial

Indian bonds clock first weekly rise in five on dovish RBI, easing crude

The yield on India’s benchmark 6.94% 2036 bond ended at 6.7651%

Published 07 Aug, 2026 06:54pm

Stocks

Dubai edges higher, Abu Dhabi falls amid Middle East tensions

Dubai’s main share index gained 0.5%

Published 07 Aug, 2026 06:07pm

South Asia

India reviewing bilateral investment treaty model, official says

India receives lower net foreign direct investment in recent years than other Asian nations

Published 07 Aug, 2026 06:04pm

Companies

Titan posts profit surge on strong jewellery demand

Strong gold demand led to a 63% surge in quarterly profit for India's Titan, highlighting its dominant position in the rapidly growing jewellery sector

Published 07 Aug, 2026 05:49pm

Companies

India's Reliance books supertanker at record freight price to lift Iraqi crude

Reliance set a new record, paying up to $25 million for an Iraqi crude tanker, a cost offset by Iraq's steep oil discounts amid regional shipping dangers

Published 07 Aug, 2026 05:43pm

Companies

India court grants Dabur interim relief against food regulator's order over '100%' claims

Dabur India obtained a Delhi High Court stay on an FSSAI order concerning "100%" claims on its products.

Published 07 Aug, 2026 05:27pm

Stocks

Sri Lankan shares snap five-week losing streak

CSE All Share index settled 0.47% higher at 21,370.09

Published 07 Aug, 2026 05:23pm

Commodities

Copper heads for strongest week since May on supply concerns and tight stocks

Benchmark three-month copper on the London Metal Exchange was up 0.3% at $14,141 a metric ton

Published 07 Aug, 2026 05:14pm

Forex

Indian rupee nudges up on-week; traders stay cautious as oil firms, US payrolls loom

Indian rupee closed at 95.2075 per dollar

Published 07 Aug, 2026 05:10pm

Exchange

Rupee inches up against US dollar

Settles at 277.71

Updated 07 Aug, 2026 09:07pm

Commodities

Palm slips, but logs weekly gains

Dalian’s most-active soyoil contract rose 0.27%

Published 07 Aug, 2026 05:02pm

Stocks

Indian shares slip, trim weekly gains as financials, oil pressures weigh

Nifty 50 dropped 0.27% to 24,570.65, while the BSE Sensex closed 0.58% lower at 78,499.17

Published 07 Aug, 2026 04:50pm

Markets

India's largest lender SBI beats quarterly profit view on healthy loan growth

Its gross loan book grew 18.63% year-on-year, while deposits grew 9.73%

Published 07 Aug, 2026 04:48pm

Companies

L&T says unit that houses drones to see threefold revenue growth over five years

'We have been building locally, now we can go global, and we would like this to scale up,' Ramchandani says

Published 07 Aug, 2026 04:43pm

Financial

Gold price per tola gains Rs5,100 in Pakistan

Price of silver increases by Rs280 to reach Rs6,939 per tola.

Updated 07 Aug, 2026 06:22pm

Companies

The Vertical strengthens its legacy with the groundbreaking of elevation, reinforcing Its position among Pakistan's fastest-growing developers

The Vertical, one of Pakistan’s fastest-growing and most trusted real estate developers, has marked another...

Published 07 Aug, 2026 02:55pm

Companies

After Nishat Group, Sapphire Fibres joins race for FESCO privatisation

SFL says it may form a consortium once the approval is granted

Published 07 Aug, 2026 01:34pm

Companies

HBL strengthens footprint in Sindh, expanding prestige banking and trade services

HBL, Pakistan’s premier financial institution, has further strengthened its presence in Sindh with the inauguration...

Published 07 Aug, 2026 12:49pm

Mutual Funds

Indian bonds buckle under oil spike, fresh debt sale

The benchmark 6.94% 2036 bond yielded 6.7869% at 10:40 a.m. IST, 2 basis points above Thursday’s close

Published 07 Aug, 2026 12:47pm

Commodities

Palm oil extends losses on weaker rivals, but on track for weekly gain

The contract has gained 0.6% this week and is on track for its fourth weekly rise in five weeks

Published 07 Aug, 2026 12:45pm

Forex

Thai baht/US dollar weaker on Friday

The baht was 0.15% lower at 33.15 versus the dollar, after trading in a range of 33.110 to 33.155

Published 07 Aug, 2026 12:43pm

Stocks

Australian stocks ease from record highs as rising oil prices fuel investor caution

The S&P/ASX 200 slipped 0.1% to 9,263.60 points

Published 07 Aug, 2026 12:41pm

Forex

Australia, NZ dollars pause for cues on US, RBA rate outlooks

The kiwi dollar was steady at $0.5863, after dipping 0.3% overnight

Published 07 Aug, 2026 12:38pm

Forex

South African rand edges up as firm gold supports ahead of US jobs data

The rand was trading at 16.34 against the dollar, up about 0.2% from its previous close

Published 07 Aug, 2026 12:36pm

Business & Finance

Pakistan, Belarus push local currency payment mechanism to boost bilateral trade

The Belarusian envoy informed that the number of Pakistani workers employed in Belarus had increased considerably

Updated 07 Aug, 2026 01:12pm

Stocks

Japan's Nikkei ends lower as AI-related stocks decline

The Nikkei ended 0.12% lower at 65,606.71, after falling as much as 1.57% earlier in the session

Published 07 Aug, 2026 12:29pm

Stocks

South Korean shares log seventh straight weekly loss as AI, chip worries persist

The KOSPI has fallen 31% since its June 22 record close, though it remains about 48% higher for the year

Published 07 Aug, 2026 12:28pm

Technology

PTA announces new eSIM pricing policy effective mid-August 2026

Reduces maximum initial eSIM issuance fee to Rs1,500

Published 07 Aug, 2026 12:00pm

Business & Finance

Maritime minister forms committee to finalise fish export incentive scheme

Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry constituted on Friday a four-member committee...

Published 07 Aug, 2026 11:09am

Money & Banking

Daewoo Express raises Rs4bn in third Sukuk

The Sukuk issue was oversubscribed 2.24x

Published 07 Aug, 2026 10:22am

Stocks

Selling returns to PSX, benchmark index ends week on a negative note

KSE-100 Index settles at 181,430.02 on Friday

Updated 07 Aug, 2026 06:37pm

Forex

Indian rupee recovery hangs in balance on return of oil risks before US jobs data

The Indian rupee is expected to open in the 95.35-95.40 range, per traders, having settled at 95.22 to the dollar on Thursday

Published 07 Aug, 2026 07:58am

Markets

Philippines Q2 GDP grows 2.3% yr/yr, slower than expected

Annual inflation slowed for a third straight month in July to ‌6.2% ⁠from 6.4% in June, due to a slower increase in transport costs

Published 07 Aug, 2026 07:55am

Markets

China's July exports climb 23.9% y/y, imports up 27.5%

Imports were ⁠expected to have gained 27.9%, after a ⁠36% jump in June

Published 07 Aug, 2026 07:52am

Stocks

Indian shares on track for muted start as earnings, Mideast in focus

GIFT Nifty futures were at ‌24,653 points

Published 07 Aug, 2026 07:49am

Stocks

Asian shares pause for US jobs, oil extends gains on Mideast risk

MSCI's broadest index of Asia-Pacific shares outside Japan held flat and was down 0.4% for the week

Published 07 Aug, 2026 07:47am

Forex

Dollar drifts higher as traders eye Iran talks ahead of US jobs data

Against the euro , the greenback edged up to $1.1521 after strengthening about 0.3% in the prior session

Published 07 Aug, 2026 07:44am

Bullion Rate

Gold heads for best week since January, US jobs data in focus

Spot gold was up 0.4% at $4,254.11 per ounce

Updated 07 Aug, 2026 12:14pm

Energy

Oil gains on US jobs report, worries over peace talks

Brent crude futures were up 84 cents, or 1.02%, at $83.33 a barrel

Updated 07 Aug, 2026 09:22pm

Business & Finance

Trade, investment, energy and other sectors: Pakistan, Azerbaijan discuss cooperation

LAHORE: Azerbaijan’s outgoing Ambassador to Pakistan, Khazar Farhadov, on Thursday called on Acting Governor Punjab...

Published 07 Aug, 2026 07:14am

Pakistan

Punjab opens August premium number plate e-auction

LAHORE: The registration process for the online auction of premium vehicle registration numbers for the month of...

Published 07 Aug, 2026 07:08am

Industry

Sindh govt keen to promote industrialization: SACM

KARACHI: Special Assistant to the Chief Minister of Sindh for Investment and Public-Private Partnership, Syed Qasim...

Published 07 Aug, 2026 06:57am

Pakistan

SMAP, PMYP, NAVTTC announce launch of free technical training programme

KARACHI: The Salt Manufacturers Association of Pakistan (SMAP), in collaboration with the Prime Minister’s Youth...

Published 07 Aug, 2026 06:51am

Industry

UBG voices concern over increased trade deficit

KARACHI: President of the United Business Group (UBG) and former president of the Federation of Pakistan Chambers of...

Published 07 Aug, 2026 06:42am

Energy

Wafi Energy expands fuel storage with new gasoline tank in KP

KARACHI: Wafi Energy Pakistan Limited has expanded its fuel storage infrastructure with the inauguration of a 7.4...

Published 07 Aug, 2026 06:31am

Taxes

Swift issuance of refunds: KTBA urges FBR chairman to simplify procedure

KARACHI: Karachi Tax Bar Association (KTBA) has requested the Chairman, Federal Board of Revenue (FBR), to introduce...

Published 07 Aug, 2026 06:30am

Business & Finance

2 Thar mining blocks help country save USD3.2bn: Sindh CM

KARACHI: Chief Minister Sindh Syed Murad Ali Shah on Thursday said the provincial government has established the...

Published 07 Aug, 2026 06:24am

Energy

Petrol price cut by Rs3.19, HSD’s by Rs1.50

ISLAMABAD: In its last two fuel price reviews, the federal government revised the Petroleum Levy (PL) rate upward on...

Published 07 Aug, 2026 06:20am

Taxes

FBR warns taxpayers: Traditional practices, informal shortcuts no longer effective

KARACHI: Rashid Mahmood Langrial, Chairman of the Federal Board of Revenue (FBR), has said that Pakistan’s tax...

Published 07 Aug, 2026 06:16am

Energy

Oil gains on rising concerns about Red Sea shipping

Brent gained 3.83% to $82.49; WTI rose 2.75% to $77.29 per barrel

Updated 07 Aug, 2026 07:32am

Business & Finance

US set to import most ME crude since Iran war began

HOUSTON: US imports of Middle Eastern crude are set to hit about 600,000 barrels per day in August, the highest...

Published 07 Aug, 2026 05:43am

Money & Banking

MCB delivers resilient H1’26 performance, declares second interim cash dividend of 90pc

LAHORE: MCB Bank Limited announced its financial results for the half year ended June 30, 2026, reflecting resilient...