Business
Gold Hits Over One-Month High as US Data Weakens Yields Gold prices climbed to a high not seen in over a month on Thursday, as recent U.S. economic data further pressured Treasury yields after a weak core inflation report this week raised expectations for a more lenient Federal Reserve approach. As of 11:20 a.m. ET…
SIFC Emphasizes Energy Growth: Orders JJVL to Clear Dues Before Gas Supply Resumes The prompt attention to revitalizing the inactive facilities of Jamshoro Joint Venture Limited and Sui Southern Gas Company is currently being evaluated. The SIFC has mandated that both companies establish a revenue-sharing agreement by January. Since the facility halted operations in June…
Trump Nominates Paul Atkins as Next SEC Chairman: A Pro-Business Shift in Regulatory Agenda In an important step that indicates a shift in focus for the Securities and Exchange Commission (SEC), President-elect Donald Trump has appointed Paul Atkins as the next chairman, succeeding Gary Gensler. The news was shared on Wednesday through Trump’s Truth Social…
US Becomes Pakistan’s Largest Export Market in First 5 Months of FY25 ISLAMABAD: From July to November 2024-25, total exports to the US reached $2.512 billion, compared to $2.299 billion during the same period in 2023-24, reflecting an increase of 9.29%, as reported by the State Bank of Pakistan (SBP). Following the US, exports to…
Gold Prices Keep Falling for second consecutive day In the global market, the price of gold fell by $14 per ounce, closing at $2,661. This drop influenced the local bullion market, where the cost of 24-carat gold decreased by Rs1,400 per tola, bringing it to Rs277,900. The price for 10 grams also went down by…
Freight Corridor: DP World, Govt Finalize Karachi Port to Pipri Project ISLAMABAD: According to state media reports on Monday, officials from Pakistan and Dubai-based logistics company DP World have reached an agreement on a freight corridor project connecting Karachi Port to the Pipri Marshalling yard in southern Pakistan. The Karachi Freight Corridor aims to enhance…
US Regulator Sets February Deadline for BlackRock on Bank Stakes, Says Bloomberg The Federal Deposit Insurance Corporation has set a new deadline of February 10 for BlackRock to address an issue relating to oversight of the asset manager’s investments in banks regulated by the FDIC, as reported by Bloomberg News on Sunday, citing three sources…
Apple’s Board Urges Shareholders to Reject Proposal to End Diversity Programs The proposal referenced recent rulings by the Supreme Court. It argued that DEI initiatives could lead to “litigation, reputational, and financial risks for companies,” potentially making Apple more susceptible to legal action. In response, Apple stated that it has a well-established compliance program, deeming…
ADB Raises Pakistan’s Growth Forecast to 3% for FY25 ISLAMABAD: An article from the Asian Development Bank (ADB) recently changed its prediction for Pakistan’s growth to 3.0% during the fiscal year 2024-25. This is up from 2.8% in September 2024. The report says that more stable macroeconomics will help the recovery after the new International…
Stock Market Today: Wall Street Edges Higher in Early Trading NEW YORK — Wall Street’s superstar, Nvidia, is on the brink of setting another record, which is why U.S. equities are trending upward. The S&P 500 experienced a 0.4% increase in early trading on Tuesday. The index is poised to post its third consecutive gain…