Iftar Timings Mar 28 - Ramazan 6
LHR
06:21 PM
KHI
06:48 PM
ISB
06:28 PM
PWR
06:34 PM
QTA
06:50 PM
Ramadan Pedia

China spent $240 billion bailing out 'Belt & Road' countries, study shows

Almost 80% of the rescue lending was made between 2016 and 2021

Oil prices soften; banking crisis and Chinese demand in focus

Prices eased after rising at the fastest pace in more than four months on Monday.

US, Japan strike trade deal on electric vehicle battery minerals

The deal also aims to reduce US-Japanese dependence on China for such materials.

Wind industry predicts rapid growth in 2023

Wind industry predicts rapid growth in 2023

Walt Disney begins 7,000 layoffs

Walt Disney begins 7,000 layoffs

Indian govt has 54 Chinese investment proposals pending: finance minister

Indian govt has 54 Chinese investment proposals pending: finance minister

Saudi National Bank appoints new chairman after Credit Suisse loss

CEO Saeed Mohammed Al Ghamdi will take over as the new chairman from Ammar Al Khudairy.

China says US presumption of guilt against TikTok is baseless

Influencers take stock of life and dreams if US bans TikTok

Russian rouble strengthens as tax payments beckon, oil prices rise

It had firmed 0.1% against the yuan to 11.13.

Dollar steady as banking crisis fears linger

Risk-averse investors sent the yen to a seven-week high of 129.65 per dollar.

First Citizens to buy Silicon Valley Bank, FDIC says

The 17 former branches of SVB will open as First–Citizens banks on Monday.

Saudi Aramco inks $12.2bn China oil refinery, petchem complex deal

The project will be Aramco's second major refining-petrochemical investment in China

Asia shares skittish, US and Europe futures edge higher

S&P 500 futures firmed 0.3% and Nasdaq futures 0.4%.

Oil markets steady as investors weigh banking crisis, Russia

Brent rose 2.8% last week, while WTI rebounded 3.8% as jitters in the banking sector eased.

China's industrial profits slump deepens on soft demand, high costs

The sharp 22.9% contraction followed a 4.0% fall in industrial profits for the whole of 2022.

Efforts on to put economy back on track: Dar

Dar requested foreign investors to transfer technology to Pakistan and explore joint ventures

Elon Musk puts $20 billion value on Twitter, The Information reports

Elon Musk puts $20 billion value on Twitter, The Information reports

Quetta citizens experience alarming rise in LPG prices amid holy month

Quetta citizens experience alarming rise in LPG prices amid holy month

The biggest financial crises of the last four decades

The biggest financial crises of the last four decades

President Alvi lauds BizNet's aim to train 1,000 women as game developers

BizNet also announced to hold women's sports gala

Iraq halts northern crude exports after winning arbitration case against Turkey

Iraq halts northern crude exports after winning arbitration case against Turkey

Amazon, other retailers revamp 'free' shipping as costs soar

They are adding fees for faster service, raising minimum purchase requirements

Brazil seek Chinese semiconductor technology

Brazil seeking Chinese semiconductors and industry, vows not to be forced by foreign pressure

Binance says withdrawals have resumed after technical glitches

Binance suspended deposits and withdrawals earlier which have now resumed

Mobile phone imports decline by 68% to $447m in eight months

Mobile phone imports decline by 68% to $447m in eight months

Pakistan's liquid foreign reserves rise above $ 10bn

Pakistan’s liquid foreign reserves rise above $ 10bn

US, Canada plan North American chip corridor, starting with IBM expansion

US, Canada plan North American chip corridor, US President Joe Biden indicated in presser.

Banker fired over sexual harassment sues Barclays for $700,000

Banker fired over sexual harassment sues Barclays for $700,000

China rolls over $2bn loan as Pakistan races to meet IMF demand for external financing

Global lander wants Pakistan to get external financing assurance from friendly countries

HSBC moves China markets head to become adviser to Asia Pacific co-CEOs

HSBC veteran Chan will take up his new role at the start of next month.

Hyundai, Kia warn 570,000 US owners to park outside until recalls completed

The automakers said some vehicles with a tow hitch harness could catch fire due to a short circuit.

Factbox: Warren Buffett's investments in financial firms

Buffett has been known to invest during difficult periods for the market.

Oil falls as US holds off refilling strategic reserve

Brent crude fell 24 cents to $75.67 a barrel while US WTI slipped 24 cents to $69.72 a barrel.

Bitcoin mining booms in Texas

In Texas, some counties have offered tax incentives to Bitcoin miners.

Asian shares falter on banking concerns, bonds bet on last rate hikes

Key parts of the US yield curve steepened, signaling a recession is at the door step.

Biden administration adds 14 Chinese firms to red flag list

Being added to list can potentially start a 60-day clock that could trigger much tougher penalties

Musadik to address IMF's concerns, says no subsidy involved in the petrol scheme

Senator Musadik Malik says he will thoroughly address the IMF’s concern tomorrow

NIC attracts over Rs7bn investment for Pakistani startups

NIC attracts over Rs7bn investment for Pakistani startups

UK central bank may hike rates after big jump in food prices

Many economists suggested the Bank of England would keep rates on hold.

Indeed lays-off 15% workforce

Job-hunt platform ‘Indeed’ to cut 2,200 jobs itself

Mobile phone imports dip over 68pc to $447m in 8 months

Mobile phone imports decreases over 68pc to $447m in 8 months

PSX loses 501.88 points, closes at 40,376.10 points

PSX loses 501.88 points, closes at 40,376.10 points

Computing networking pioneer Metcalfe wins top industry prize

The Ethernet is the standard connection for everything.

Dollar muted as traders await Fed rate decision

The US dollar index was at 103.19, just above the five-week low of 102.99 touched overnight.

Asian shares advance on back of Wall Street rally

Markets around the world pinballed sharply this month on worries the banking system may be cracking.

Japan provides additional $5.7m for installation of Weather Surveillance Radar

The project would substantially contribute in mitigating damages caused by natural disasters

Gold price decreases Rs3,100 to Rs204,100 per tola

Gold price decrease Rs3100 to Rs204,100 per tola

Switzerland's secretive Credit Suisse rescue rocks global finance

Switzerland's secretive Credit Suisse rescue rocks global finance

FBR hosts National Consultation Workshop for establishing API, PNR system

FBR hosts National Consultation Workshop for establishing API, PNR system

Gold price decreases Rs1,000 to Rs207,300 per tola

The price of 10 grams of 24 karat gold also decreased by Rs858

Pakistan earns $1,523 million from IT services' export

Pakistan earns $1,523 million from IT services' export

Food group exports increase 7.39 percent

Food group exports increase 7.39 percent

PSX loses 411 points, closes at 40,918.45 points

PSX loses 411 points, closes at 40,918.45 points

Bitcoin climbs to 9-month high as bank turmoil sparks rally

The biggest cryptocurrency rose as far as $28,567, its highest since mid-June.

Global stocks sink after Credit Suisse takeover

Investors worry banks are cracking under the strain of unexpectedly fast, large rate hikes.

UBS to buy Credit Suisse for nearly $3.25B to calm turmoil

Credit Suisse is among 30 financial institutions known as globally systemically important banks

Iraq in final stages of talks on $27 billion TotalEnergies deal, says minister

Iraq in final stages of talks on $27 billion TotalEnergies deal, says minister

Warren Buffett in discussions with Biden officials on banking crisis

Warren Buffett in discussions with Biden officials on banking crisis

UBS seeks $6 billion in government guarantees for Credit Suisse takeover

Credit Suisse is the biggest name ensnared in turmoil unleashed by collapse of Silicon Valley Bank

China fines Deloitte $31mn for auditing negligence

Deloitte's Beijing operations also will be suspended for three months

Japan, Germany agree to carefully monitor markets, coordinate as needed

Agreement came in a 45-minute meeting between Japanese Finance Minister and German Finance Minister.

China's central bank warns SVB failure shows impact of rapid global rate hikes- state media

SVB Financial Group on Friday sought protection under Chapter 11 of the U.S. bankruptcy code.

Credit Suisse meets to weigh options, under pressure to merge with UBS

The 167-year-old bank is the biggest name ensnared in market turmoil.

China cuts reserve ratio given domestic pressures, overseas risks - state media

The central bank on Friday reduced the amount of cash banks must hold as reserves.

Beijing may allow foreign financial firms to list in China - ex-finance minister

Such moves would be in line with the country's opening up of its financial industry.

SBP receives $500 million from Chinese bank

SBP receives $500 million from Chinese bank

Hina Khar calls for new fiscal model for sustainable development

Hina Khar calls for new fiscal model for sustainable development

Bank rescues ease crisis fears but investors worry it's not enough

Large US banks injected the funds into San Francisco-based bank on Thursday.

Global turmoil makes Australian banks' refinancing mountain a harder climb

After the past week's failures and liquidity crunches at banks in the United States and Europe.

Japanese and South Korean businesses seek to leave behind difficult history

The newly announced foundation appeared to allow Japanese companies to fund programmes.

SpaceX, Netflix, Boeing to join "biggest-ever" US business mission to Vietnam

Vietnam, with a population of 100 million people, also has a rapidly-growing consumer market.

Pakistan, Australia agree to promote cooperation

Pakistan, Australia agree to promote cooperation

Gold price up by Rs1,100 to Rs203,500 per tola

Gold price up by Rs1,100 to Rs203,500 per tola

Pakistan's foreign reserves reach at $9.846bn

Pakistan's foreign reserves reach at $9.846bn

Nepra shocks power consumers with Rs3.23 per unit hike

Nepra says authority had no option but to accept government’s request

Govt increases petrol price by Rs5 per litre

Increases high speed diesel and kerosene oil prices too

Oil hits lowest in more than a year as banking fears mount

Oil hits lowest in more than a year as banking fears mount

Moody's cuts outlook on US banking system to 'negative'

Moody’s also said it was expecting the Federal Reserve to continue tightening monetary policy.

Riyadh Air, Saudia to buy 78 Boeing 787s worth $37bn

The contracts are part of a blueprint for economic and social reform.

China's yuan eases as uneven economic recovery dents sentiment

Investors were also cautiously waiting to see if the Federal Reserve will hike interest rates.

UK unveils cost-of-living budget as mass strikes hit nation

The government is also expected to confirm plans to entice those who have dropped out of the jobs.

Thai industrial sentiment near four-year high in Feb as tourism recovers

The FTI's index, which projects industrial sentiment over the next three months, also increased.

Strike grips Sri Lanka as unions protest IMF bailout

Professionals have also joined the trade unions against the sharp increase in income taxes.

Oil prices rebound after OPEC upgrades China demand outlook

China's demand recovery is bullish for oil prices, said Stefano Grasso.

China's economic activity uneven in Jan-Feb after Covid reopening

Fixed asset investment in the first two months was 5.5% higher than a year earlier.

Asian shares gain as fears about rapid Fed hikes, bank crisis fade

Australia's S&P/ASX 200 index (.AXJO) rose 0.33% in early trading.

Most BOK board members wanted door open for further tightening - minutes

It should leave the door open for further rate increases if needed to contain inflation.

Crypto group DCG looking for new partners following SVB collapse CoinDesk

The companies did not immediately respond to Reuters requests for comment on the report.

Asian stocks fall despite bids to contain SVB contagion fears

That sent the dollar tumbling Monday, though it clawed back some of those losses in Asian trade.

World Bank committed to Pakistan's long-term development: Martin Raiser

He said that the World Bank has been a resolute development partner of Pakistan.

Gold slips but holds above $1,900 on Fed slowdown hopes

Spot gold was down 0.6% at $1,901.91 per ounce.

SVB collapse causes headaches for US Fed before rate decision

America's top finance officials unveiled a series of measures over the weekend.

Biden vows new bank rules after SVB collapse, cites Trump rollback

Biden vows new bank rules after SVB collapse, cites Trump rollback

Japan Post Bank prices its stock offering at 1,131 yen apiece

Japan Post Bank shares closed at 1,155 yen on the Tokyo Stock Exchange on Monday.

HSBC acquires Silicon Valley Bank's UK arm for 1 euro

The transaction completes immediately and will be funded from existing resources, the bank added.

Key elements of Fed's new US bank funding program

Here are some key elements of the Fed's program.

Oil prices surge on China demand and weaker dollar

After initially slipping, Brent crude futures rose to $82.97 and WTI went up to $76.88 a barrel.

Dollar sinks as US intervenes on SVB collapse

The dollar index, which measures the US currency against six rivals, fell to its lowest in a month.

Japan ruling block's partner Komeito to propose 'several trillion yen' stimulus - NHK

Japan ruling block's partner Komeito to propose 'several trillion yen' stimulus - NHK

Signature Bank becomes next casualty of banking turmoil after SVB

All of depositors of both banks will be made whole, and "no losses will be borne by the taxpayer

VW joins e-car price war as global rivalry heats up

Driving performance remains a key factor” when customers choose a new car.

Worry for tech start-ups after Silicon Valley Bank failure

Some see in the back-to-back failure of two banks an example of the financial system's precariousnes

Khawaja Asif inaugurates exhibition 'We Exhibit 2023'

Khawaja Asif inaugurates exhibition “We Exhibit 2023”

Pakistan's garment exports to China register 33pc increase in 2022

Pakistan's garment exports to China register 33pc increase in 2022

India, Australia aim to boost critical mineral trade in broader deal - ministers

It would expand on a free trade deal the two signed last year.

Crypto firm Circle reveals $3.3 bln exposure to Silicon Valley Bank

The stablecoin company's announcement comes after startup-focused SVB collapsed on Friday.

German finance minister says defence budget needs to rise

But despite the need for fiscal tightening, he favoured increasing defence spending.

Canada bans Russian aluminum and steel imports

Canada bans Russian aluminum and steel imports

US regulators seize Silicon Valley Bank in largest bank failure since financial crisis

US regulators seize Silicon Valley Bank in largest bank failure since financial crisis

Workers' remittances down 10.8pc in Jul-Feb FY23

Workers’ remittances down 10.8pc in Jul-Feb FY23

PSX continues with bullish trend, gains 208 points

PSX continues with bullish trend, gains 208 points

Japan's Inpex to send test batch of Kashagan crude via BTC pipeline

Kashagan crude is usually shipped via the Caspian Pipeline Consortium (CPC) which crosses Russia.

China Feb new bank loans fall to 1.81 trln yuan, but beat forecasts

Other credit gauges showed solid improvement.

Korean e-commerce firm Coupang to exit Japan market

Japan's SoftBank Group Corp is an investor in the company.

UK economy grows 0.3% in January, beating forecasts

The manufacturing and construction sectors contracted, the Office for National Statistics said.

Gold drifts lower in run-up to US payrolls data

Bullion lost 1.4% so far this week and is set for a fifth weekly drop in six.

Biden to meet with Trudeau in Canada this month: White House

Biden and Trudeau will also discuss ongoing efforts to support Ukraine.

EU reaches agreement to reduce energy consumption at EU level by 11.7% in 2030

The consumption limit for final consumption will be binding for member states.

Australian court fines ANZ Group $6.6 million for breaching consumer protection laws

Court case stems from a 2017 Royal Commission inquiry into Australia's financial services industry.

Oil headed for worst weekly drop since Feb on US slowdown fears

"Investors have become increasingly cautious," analysts from Haitong Futures said in a note.

Biden's $6.8 trillion budget challenges Republicans, raises taxes on rich

The Democratic president challenged Republican opponents on fiscal responsibility.

US bank jitters hit Asia stocks; yen drops with JGB yields after BOJ

The US dollar edged higher and short end Treasuries extended sharp overnight gains.

Pakistan's foreign reserves rise to $ 9.754b

Pakistan's foreign reserves rise to $ 9.754b

Gold price increases Rs400 to Rs197,700 per tola

Gold price increases Rs400 to Rs197,700 per tola

Rupee sheds Rs3.17 against dollar

Rupee sheds Rs3.17 against dollar

PSX continues with bullish trend, gains 226 points

PSX continues with bullish trend, gains 226 points

Rouble steadies near 76 vs dollar, Russian stocks near 6-month high

The rouble had gained 0.5% to trade at 80.23 versus the euro.

Shell reports sharp fall in Nigeria oil spills after shutdown

Shell is the operator of Nigeria’s main onshore oil and gas joint venture.

Turkish lira at record low near 19 to the dollar

Presidential and parliamentary elections scheduled for May 14 are adding to uncertainty.

Vietnam Jan-Feb exports down 10% amid weak global demand

Vietnam had a week-long Lunar New Year holiday in January, during which business activities slowed.

Wheat drops to 18-month low on Black Sea grain deal optimism

Wheat drops to 18-month low on Black Sea grain deal optimism

Asian shares stutter, dollar buoyant as data supports hawkish Powell

Inflation data out of China showed on Thursday that domestic demand still remained tepid.

China consumer inflation slowest in a year; producer deflation deepens

Producer deflation extended into a fifth month.

Japan's economy barely grew in Q4, weak consumption raises policy challenge

Japan's economy barely grew in Q4, weak consumption raises policy challenge

Gold prices at 1-week low as Fed's Powell flags higher rates

Spot gold was down 0.2% at $1,810.84 per ounce.

China's yuan weakens to 2-month low, with key 7-per-dollar level in sight

China’s yuan weakens to 2-month low, with key 7-per-dollar level in sight

Powell's warning on higher US rates pushes dollar to three-month high

Higher rates benefit the dollar by improving its yield.

Indian rupee declines as Fed's Powell stokes fears of large rate hikes

The currency had only just broken out of a narrow trading zone.

Cathay Pacific posts wider $834 mln loss in 2022, upbeat on outlook

The airline forecast a loss of between HK$6.4 billion and HK$7 billion

Russia says it is considering a challenge to US nominee to head World Bank

Treasury declined comment on the possible Russian challenge.

India's oil deals with Russia dent decades-old dollar dominance

India's oil deals with Russia dent decades-old dollar dominance

Oil steady as surprise US crude draw counters rate hike jitters

The dollar index rose as high as 105.65, up 1.3% on Tuesday and the highest since Dec. 6.

Asian stocks tumble, dollar gains after hawkish Powell comments

Fed raised rates by 25 basis points in its last two meetings.

Thailand's inflation seen falling further - Finance Minister

Expected support measures will reduce the cost of living, he said.

Japan runs record current account deficit in January

The trade balance, a part of the current account, also hit a record deficit.

OGDCL spuds four wells, makes three discoveries

OGDCL spuds four wells, makes three discoveries

Pak-Germany trade witnesses over 78pc surplus in seven months

Pak-Germany trade witnesses over 78pc surplus in seven months

Switzerland keen to develop trade ties with Pakistan: Ambassador

Switzerland keen to develop trade ties with Pakistan, says Ambassador

PBF proposes economic manifesto to tackle financial and administrative issues

PBF proposes economic manifesto to tackle financial and administrative issues

Gold price dips by Rs700 to Rs197,300 per tola

Gold price dips by Rs700 to Rs197,300 per tola

Agriculture credit disbursement up by 28.3% in 7 months

Kissan Package 2022 is expected to have a positive impact on the agriculture sector’s productive.

Emirates Global Aluminium's 2022 profit surges to a record $2 bln

EGA expects global demand for aluminium to grow 1-2% in 2023.

Fed's Powell, in Hill appearance, to update views on status of 'disinflation'

Powell's last monetary policy report to Congress was in June.

Dollar subdued ahead of Powell testimony; Aussie slips

The index is down 0.6% for the month following a 2.6% gain in February.

Gold edges higher as investors focus on Powell testimony

US gold futures eased 0.1% to $1,853.20.

Oil edges up on supply concerns, China demand hopes

"The key unknown for 2023 will be the disruption to Russia's oil and refined product exports."

Japan's real wages drop at fastest pace since 2014 as hot inflation takes toll

Wage trends in the world's third-largest economy are under close market scrutiny.

China Jan-Feb exports, imports slump again as global demand falters

The customs agency publishes combined January and February trade data to smooth out distortions.

Sri Lanka says 'positive news' coming from IMF on $2.9 bln package

Sri Lanka says 'positive news' coming from IMF on $2.9 bln package

Asian palm oil buyers seek stable export policies from producers

Importing countries have built refineries to process crude palm oil.

ECC approves Hajj Policy 2023 with foreign exchange cover of $90m

ECC approves Hajj Policy 2023 with foreign exchange cover of $90m

Long-awaited IMF staff-level agreement 'around the corner'

'Pakistan manages to meet conditions to avail loan'

Dollar dips by Rs2.71 in interbank market

100-point index opens with a rise of 415 points

UK's new car registrations jump 25% in February

The SMMT will provide the final figures for the month at 0900 GMT.

Pakistan looks towards Saudi Arabia, WB and AIIB for revival of IMF loan deal

It needs to secure confirmation of additional deposits of $2 billion from the Arab country

Saudi Arabia raises Arab Light crude price to Asia for 2nd month in April

Saudi Arabia raises Arab Light crude price to Asia for 2nd month in April

Weak global demand, rate hikes may curtail India growth

The slowdown in growth seen in last quarter of 2022 could continue through March 2024

UAE's GDP grew 7.6pc in 2022, official says

A slowdown is forecast this year with a more uncertain oil price outlook

Indonesia's inflation to stay above 5% in first half of 2023: central bank chief

ECB facing high core inflation in the near term, Lagarde says

ECB facing high core inflation in the near term, Lagarde says

More interest rate hikes may be needed, says ECB's Lagarde

Indonesia's inflation to stay above 5% in first half of 2023 -cbank chief

Indonesia's Consumer Price Index rose 5.47 per cent on a yearly basis in February.

China to deepen financial reform, open to more foreign investment

China has stepped up its efforts to cope with financial risks as the economy grew by just 3 per cent

Gold prices dip by Rs1,600 to Rs200,000 per tola

Gold prices dip by Rs1,600 to Rs200,000 per tola

Quake caused damage worth $5.1 billion in Syria: World Bank

Quake caused damage worth $5.1 billion in Syria: World Bank

Taiwan's Foxconn seeks chip, EV cooperation with India

Foxconn has ambitious plans to make EVs, and is also looking to make chips.

Exclusive-Nvidia's plans for sales to Huawei imperiled if US tightens Huawei curbs-draft

Nvidia's plans to sell to Huawei have not been previously reported.

Sri Lanka's rate hike shows commitment to rapid disinflation - IMF

The central bank raised its standing deposit facility rate to 15.50 per cent.

US Justice Dept warns of steeper penalties for firms that fall foul of messaging policies

US Justice Dept warns of steeper penalties for firms that fall foul of messaging policies

'Media report that UAE considering leaving OPEC not true'

'Media report that UAE considering leaving OPEC not true'

US approved 192 licenses for exports to blacklisted Chinese firms early 2022

Republican Representative Michael McCaul called the approvals unacceptable

Airbnb cuts recruiting staff by 30pc

The decision affected less than 0.4% of the San Francisco-based company's total workforce

Pharmaceutical goods' export increases by 32.37pc

Pharmaceutical goods' export increases by 32.37pc

Weekly inflation clocks in at 41pc compared to last year

Weekly inflation clocks in at 41pc compared to last year

Gold prices dip by Rs4,900 to Rs201,600 per tola

Gold prices dip by Rs4,900 to Rs201,600 per tola

Brighter economic outlook lifts UK services sector, PMI shows

Fall in overall cost pressures had yet to be fully passed onto clients as demand remained resilient.

Lufthansa says it's back as earnings rebound, flags further gains in 2023

The company said it expects "further significant improvement" in operating profit this year.

Asian stocks gain as prospects of China recovery, and Fed caution

Global markets have been buffeted by a raft of strong US data over recent weeks.

Oil prices head for weekly gain on China growth hopes

Brent has climbed about 1.6% so far this week.

Dollar set for first weekly loss since January as Fed path eyed; crypto slides

"In turn, this will depend on incoming US data, particularly inflation data."

Adani shares surge after GQG Partners invests $1.87 bn

GQG's Sydney-listed shares ended Friday down 3% versus a 0.4% rise in benchmark share price index.

Philippines central bank gov sees 50 bps rate hike if inflation tops 9%

BSP has raised rates eight times for a total of 400 basis points since last year.

Pakistan foreign reserves rise to $9.26 billion

Pakistan foreign reserves rise to $9.26 billion

Trade deficit narrows by 33.18pc in 8 months of FY23

Trade deficit narrows by 33.18pc in 8 months of FY23

Default rumours completely false, IMF agreement likely next week: Dar

Default rumours completely false, IMF agreement likely next week, says Ishaq Dar

SBP raises key interest rate by 300bps, takes it to 20pc

SBP raises key interest rate by 300bps, takes it to 20pc

LSE Group 2022 earnings meet forecasts, eyes buyback on Blackstone/TR stake

The consortium owned just over 30% of LSEG shares when the Refinitiv deal was completed.