KARACHI: The workers’ remittances grew 6.1 per cent in the fiscal year (July-June) 2021/22 to $31.2 billion against the inflows of $29.45 billion in the same period of the preceding year, according to the data released by the central bank on Monday. On a year-on-year basis, the remittances increased 1.7 per cent from $2.71 billion … Read more
KARACHI: Bears dominated the bourse throughout the day on Monday as the market witnessed massive pressure on political uncertainty and record slump in the value of rupee. Ahsan Mehanti at Arif Habib Corp said that the market remained under pressure after Pakistan Muslim League-N (PML-N) lost to opposition in Punjab by-polls. “The unexpected delay in … Read more
KARACHI: The rupee plunged to the historic low of Rs215.20 against the dollar in the interbank market on Monday, amid renewed concern regarding the economic and political uncertainty in the country, dealers said. The local unit shed Rs4.25 to close at Rs215.20 against the greenback from Friday’s closing of Rs210.95 in the interbank foreign exchange … Read more
KARACHI: The Pakistan equity market witnessed a lacklustre session on Friday after investors opted for profit taking which dragged the Index to close in a negative zone. An analyst at Arif Habib Limited said that the market remained range bound throughout the day as investors opted for profit taking. “The benchmark KSE-100 Index opened in … Read more
KARACHI: The Pakistani rupee shed Rs1.15 against the dollar to reach Rs210.95 on Friday after the investors’ sentiments cooled down regarding the International Monetary Fund (IMF) recent development. The local unit shed Rs1.15 to close at Rs210.95 to the dollar from Thursday’s closing of Rs209.80 in the interbank foreign exchange market. Analysts said that the … Read more
KARACHI: The Pakistan bourse closed in a green zone on rupee recovery amid the government reaching staff level agreement with the International Monetary Fund. Ahsan Mehanti at Arif Habib Corp said that the government’s decision to reduce petroleum products prices and a slump in the global crude oil prices reducing economic crises played a catalyst … Read more
KARACHI: The Karachi Tax Bar Association (KTBA) has requested the Federal Board of Revenue (FBR) for extending the submission date of sales tax and federal excise return. KTBA President Syed Rehan Hasan Jafri, in a letter to the FBR Chairman Asim Ahmed requested to extend the date of filing quarterly income tax withholding statement and … Read more
KARACHI: The Pakistani rupee gained 30 paisas against the dollar to reach Rs209.80 on Thursday as the market celebrated the staff level agreement between Pakistan and the International Monetary Fund. The local unit gained 30 paisas to close at Rs209.80 to the dollar from Wednesday’s closing of Rs210.10 in the interbank foreign exchange market. Analysts … Read more
KARACHI: Morinaga Milk Industry Company Limited, Japan has offered to acquire an aggregate 33.3 per cent share of NutriCo Morinaga (Private) Limited (NMPL), a bourse filing said on Thursday. ICI Pakistan has received a conditional offer from Morinaga Milk to acquire 33.3 per cent of issued and paid up share capital from NMPL’s existing shareholders … Read more
The Pakistani authorities and the International Monetary Fund (IMF) have concluded the staff-level negotiations on the policies to complete the combined 7th and 8th reviews under the Extended Fund Facility (EFF) programme. The agreement is subject to the approval by the IMF’s Executive Board. The IMF highlighted that the high international prices, and a delayed … Read more
KARACHI: The Pakistan stocks closed higher as investors weigh imminent International Monetary Fund (IMF) bailout staff level agreement and likely government decision to reduce petroleum prices impacting industries. Ahsan Mehanti at Arif Habib Corp said that institutional interest ahead of major earning announcements played a catalyst role in the bullish close. The Pakistan Stock Exchange … Read more
KARACHI: The Pakistani rupee declined Rs2.19 against the dollar to reach Rs210.10 on Wednesday as the International Monetary Fund (IMF) programme remained in doldrums. The local unit shed Rs2.19 to close at Rs210.10 to the dollar from Thursday, July 7 closing of Rs207.91 in the interbank foreign exchange market. The market opened after five holidays … Read more
KARACHI: The Pakistan bourse showed recovery on Thursday as investors weigh improving Pak-US ties leading to the International Monetary Fund (IMF) bailout programme. Ahsan Mehanti at Arif Habib Corp said that the government’ decision to maintain status quo over hike in the power tariff and institutional interest ahead of major earning announcements next week played … Read more
KARACHI: The State Bank of Pakistan (SBP) on Thursday jacked up the key policy rate by 125 basis points to 15 per cent from 13.75 per cent on rising inflationary concerns and weakness in the balance of payment. The latest hike in the key policy rate by the central bank is above the market expectations, … Read more
KARACHI: The prices of gold declined Rs1,000 in the local market to reach Rs142,000/tola on Thursday as the rupee made marginal gains against the dollar besides a decline in the international gold prices. Gold 24kt gained Rs1,000/tola and Rs858/10 grammes to hit Rs142,000/tola and Rs121,742/10 grammes, respectively. The prices of yellow metal recorded a decline … Read more
KARACHI: The Pakistani rupee gained 8 paisas against the dollar to reach Rs207.91 on Thursday amid a likely hike in the key policy rate in the upcoming monetary policy meeting. The local unit gained 8 paisas to close at Rs207.91 to the dollar from Tuesday’s closing of Rs207.99 in the interbank foreign exchange market. Currency … Read more
KARACHI: The Islamabad Policy Research Institute (IPRI) in a first of its kind initiative, launched a free-for-all digital library on Thursday, a statement said. The digital library in the public sector was realised through the hard work of a minimum staff within a record time span of one year, it added. IPRI President Ambassador Raza … Read more
LAHORE: The government is making all-out efforts to devises ways, means and systems for optimum, efficient, cost effective and sustainable service delivery of municipal services at the grassroots level. Project Management Unit Director Muhammad Hamza Salik was addressing a one-day participatory workshop, organised by the Asian Consulting Engineers and Ramboll Denmark in collaboration with the … Read more
LAHORE: All Pakistan Textile Mills Association (Aptma) Chairman Abdul Rahim Nasir on Wednesday urged the federal government to restore gas supply to the textile industry on an urgent basis, stressing that a loss of almost $1 billion in exports had already taken place due to unavailability of gas and closure of more than 300 textile … Read more
KARACHI: The Pakistan stocks after observing a range-bound session, closed in the green territory on Wednesday, taking a direction from speculations over the timing of the International Monetary Fund (IMF) programme, analysts said. An analyst at Pearl Securities said the delay in the dollar inflows from the IMF eroded gains made by the rupee. “The … Read more
KARACHI: The rupee witnessed a sharp decline of 1.05 against the dollar on Wednesday, as the exchange rate ended at Rs207.99 in the interbank foreign exchange market, dealers said. The exchange rate closed at Rs206.94 on Tuesday. The rupee is again heading towards the lowest level, which was Rs211.93 against the greenback recorded on June … Read more
KARACHI: The Pakistan equity market observed a negative session on Tuesday due to rupee depreciation besides concerns over the resumption of the International Monetary Fund (IMF) programme. An analyst at Arif Habib Limited said that the market stayed under pressure throughout the day where volumes remained dry in the main board whereas decent volumes were … Read more
KARACHI: As many as six companies participated in the Corporate Tapeball Cricket Tournament, organised by Stryvve Pakistan. The country’s leading corporates including Siemens Pakistan, Dollar Industries, Daraz, Princely Jets, Ismail Industries and Hellmann Worldwide Logistics competed against each other. Daraz and Princely Jets competed in the first semi-final which Princely Jets won after successfully chasing … Read more
KARACHI: The Pakistani rupee shed Rs2.38 against the dollar to reach Rs206.94 on Tuesday as speculations regarding the delay in the International Monetary Fund (IMF) programme prevailed. The local unit shed Rs2.38 paisas to close at Rs206.94 to the dollar from Monday’s closing of Rs204.56 in the interbank foreign exchange market. Currency experts said that … Read more
KARACHI: The Pakistan Civil Aviation Authority (PCAA) Retired Officers Welfare Association has appealed to the federal government for increasing the pension. The association appealed to the government to increase the pension of retired officers and widows of expired officers to alleviate their financial hardship. Retired Officers Welfare Association President Mubashar Zafar in an application said … Read more
LAHORE: The cement dispatches declined 7.91 per cent to 52.89 million tonnes during fiscal year 2021/22, compared with 57.43 million tonnes during 2020/21. The domestic uptake during fiscal year 2022 reduced 1 per cent to 47.63 million tonnes from 48.11 million tonnes during fiscal year 2021, whereas the exports during the same period massively declined … Read more
KARACHI: The Pakistan equity market on Monday closed on a negative note as investors wait for a green signal over the International Monetary Fund (IMF) programme besides mounting inflation. An analyst at Arif Habib Limited said that the market stayed under pressure throughout the day due to concerns over mounting inflation and expected rate hike … Read more
KARACHI: The Pakistani rupee continued its upward momentum against the dollar to reach Rs204.56 on Monday as the foreign exchange reserves of the country got a boost on the inflows of Chinese loan receipts. The local unit gained 29 paisas to close at Rs204.56 to the dollar from Thursday’s closing of Rs204.85 in the interbank … Read more
