Business Recorder

An earthquake of magnitude 7 struck China’s southwestern region of Tibet at around 10:33 p.m. (1433 ​GMT) on Thursday, killing 16 people and injuring 32 others, state ‌news agency Xinhua reported, citing Nagqu City’s emergency management bureau. As of 2:25 a.m. on Friday, 11 of the injured were in serious…

TOKYO: Asian Football Confederation President Sheikh Salman bin ​Ibrahim Al Khalifa said ‌on Friday the governing body would support Gianni Infantino’s bid ​to be re-elected FIFA ​President. “I think that we reaffirm ⁠our full commitment, of ​course, to supporting you and ​your leadership as you seek a new mandate as…

India overcame ​a spirited New Zealand fightback after a blazing start to secure a thrilling four-wicket victory ‌in Christchurch on Thursday and take a 1-0 lead in the five-match T20 series. India survived a mid-innings wobble in a 226-run chase after openers Sanju Samson and Abhishek Sharma laid the platform,…

MUMBAI: The Indian rupee’s recent recovery is likely to face headwinds on Friday from a flight to safety that’s weighing ​on risk-sensitive currencies and rising oil prices which threaten to ‌spur increased hedging by importers. The Indian rupee is expected to open at 94.84-94.88 per dollar, according to traders, after…

SEOUL: HD Hyundai Co said on ​Friday it has signed a deal with ‌Kiewit Corp to start building an advanced US shipyard next year, with operations expected to begin ​in 2029 and create about 3,000 ​domestic jobs. The new shipyard is expected to ⁠boost US shipbuilding capacity and help revive…

KATHMANDU: Nepal will receive $20 million in aid from the United Nations’ climate loss and damage ​fund after the devastating flood along its ‌border with China’s Tibet region in August, the government said late on Thursday. The August 26 flood killed about ​1,500 people and more than 5,000 are ​still…

LAHORE: A delegation from the Russian Federation’s Ministry for Civil Defence, Emergencies and Elimination of Consequences of Natural Disasters visited PDMA Punjab where they met with Director General of PDMA Punjab Muhammad Saif Anwer Jappa. Additional Director General Muhammad Ibrahim, Director of Operations Nisar Ahmed Sani, and other relevant officials…

The United Arab Emirates’ Ministry of ​Climate Change and ‌Environment said on Friday that its monitoring ​system had detected ​a tanker oil spill ⁠affecting beaches in ​Umm Al Quwain. Odors reported ​in Sharjah, Ajman and Umm Al Quwain posed ​no health risks ​to residents, the ministry said. The ‌ministry ⁠said…

LAHORE: Punjab Housing Minister Bilal Yasin has said that the under the Apni Chhat Apna Ghar Programme, the Punjab government has approved over 224,000 cases for interest-free loans, helping the deserving families turn their dream of owning a home into reality. He expressed these views on Thursday while talking to…

KARACHI: A meeting of the Information Department was held under the chairmanship of Sindh Senior Minister Sharjeel Inam Memon, during which detailed review was conducted of the preparations and administrative arrangements for the Sindh Vision Conference to be held in Sukkur. Sharjeel Inam Memon directed that all administrative arrangements for…

KARACHI: Pakistan Chemicals & Dyes Merchants Association (PCDMA) Chairman Saleem Mukati has urged State Bank of Pakistan (SBP) Governor Jameel Ahmed to consider reducing the policy rate at the central bank’s Monetary Policy Committee (MPC) meeting expected on October 26, in order to accelerate economic activity and ease the shortage…

SYDNEY: Sales of Apple’s first folding phone, the iPhone Duo, began on Friday, with ​market watchers betting on whether the device can reinvent the small foldables market just like the iPhone did for smartphones. The Duo’s reception could ‌prove an early test for new CEO John Ternus, the former hardware…

KARACHI: President of the Pakistan Businessmen and Intellectuals Forum (PBIF) and All Karachi Industrial Alliance, Chairman of the National Business Group Pakistan, Chairman of the FPCCI Policy Advisory Board, Mian Zahid Hussain, has expressed concern over LPG prices reaching Rs500–600 per kilogram in various markets across the country, against OGRA’s…

KARACHI: Meezan Bank, has signed two exchanges of letters with the United Nations Industrial Development Organization (UNIDO) - Investment and Technology Promotion Office, Bahrain (UNIDO-ITPO Bahrain) and with the International Center for Entrepreneurship and Innovation (ICEI) aimed to support startups, women and youth entrepreneurs, and MSMEs. Meezan Bank shall set…

LAHORE: Lahore Chamber of Commerce and Industry (LCCI) President Ali Hussam Asghar has called for simplified tax procedures, predictable policies and improved taxpayer facilitation to broaden Pakistan’s tax base, enhance voluntary compliance and improve the tax-to-GDP ratio without placing additional pressure on existing taxpayers. During a meeting with Chief Commissioner…

SYDNEY: Asian shares fell on Friday as concerns over the enormous funding needs of AI hammered tech and led to ​the biggest daily rally in Treasuries in more than three years, with investors fleeing to sovereign bonds and safe-haven currencies. Markets also sharply pared back ‌expectations of further policy tightening…

KARACHI: Jamaat-i-Islami (JI) has gifted eight refurbished buses to Karachi University (KU) amid growing concerns over the university’s poor condition, inadequate transport facilities and lack of government support. At a ceremony on Thursday, JI chief Hafiz Naeem-ur-Rehman handed over the buses to KU Vice Chancellor Dr Waseem Qazi. The buses…

Indian shares are set to open higher on Friday after three sessions of losses, though gains may prove fleeting due to a spike in oil prices on escalating ​Middle East tensions. GIFT Nifty futures were at 22,830.50 at 7:42 a.m. ‌IST, indicating a positive start for the benchmark Nifty 50,…

KARACHI: Interloop Limited (ILP) posted a 53 percent year-on-year increase in profit to Rs4.3 billion in the first quarter of FY27, compared with Rs2.8 billion in the same period last year, supported by higher export sales, increased other income and a lower effective tax rate, according to a research report.…

SHANGHAI/SINGAPORE: The Japanese yen hit its strongest level in more than a month on Friday, buoyed by safe-haven flows due to a fresh ​bout of risk aversion that also sent US Treasury yields sharply lower, pushing the dollar to a nearly three-week ‌trough. The moves in the currency markets were…

ISLAMABAD: The Federal Government Employees Housing Authority (FGEHA) organised a special Investors’ Conference on Thursday in honour of successful investors who participated in the recent auction. During the event, Acceptance Letters and Awards were distributed among the successful investors. The conference was attended by senior officials of FGEHA, members of…

KARACHI: HBL declared a record quarterly profit before tax of Rs 41.9 billion for the third quarter of 2026. The Bank’s total profit before tax for nine months ended September 30, 2026, increased to Rs 115 billion while the profit after tax rose to Rs 54.1 billion. EPS for 9M’26…

Oil prices were little changed in early Asian trade on Friday, after rising 4% to a five-month high in the previous session due ​to concern of further energy supply disruption after Houthi attacks ‌on top exporter Saudi Arabia. Brent crude futures was down 21 cents, or 0.2%, at $112.96 a…

KARACHI: Stall bookings have opened for the seventh edition of the ‘Mera Brand Pakistan Expo’, scheduled to be held at the Karachi Expo Centre next year under the auspices of the Pakistan International Business Forum (PIBF), Karachi. A meeting held at the forum’s office reviewed preparations for the upcoming event.…

ISLAMABAD: The ACT Alliance Pakistan (Think Tank) Thursday urged the Federal Board of Revenue (FBR) to ensure prosecution of those involved in the illegal cigarette trade, stressing that raids and seizures must be followed by effective investigations and legal action. In a statement issued on Thursday, Mubashir Akram, Country Director…

ISLAMABAD: Acknowledging each other’s role in the global fight against terrorism, Pakistan and the European Union (EU) expressed serious concern over the security implications of the situation in Afghanistan. Both sides have also agreed to strengthen their cooperation at multilateral forums, including the United Nations, to advance a coherent counterterrorism…

KARACHI: Bank Alfalah Limited (BAFL) reported a 42.8 percent year-on-year increase in profit after tax to PKR 30.61 billion during the first nine months of 2026 (9M’26), compared to the same period last year. Earnings per share also rose to PKR 9.71 from PKR 6.80 in 9M’25. The Board of…

ISLAMABAD: The federal government on Thursday renewed its attack on the previous PTI-led Khyber Pakhtunkhwa administration, accusing it of stonewalling counterterrorism efforts to justify its decision to impose emergency and governor’s rule in the province. Speaking on a point of order in National Assembly, Minister for Parliamentary Affairs Tariq Fazal…

ISLAMABAD: An organisation for protection of domestic industries has urged the government to appoint a technically qualified and commercially experienced professional as managing director of Sui Northern Gas Pipelines Limited (SNGPL), warning that a predominantly finance- or recovery-driven background may be insufficient to manage Pakistan’s largest gas utility. In a…

KARACHI: Industrialists and analysts have warned that any increase in the policy rate would further raise the cost of doing business, aggravating the already unsustainable costs of manufacturing and production. The market is expecting an increase in the key policy rate in the next meeting to be held on Oct…