KARACHI: A 15 member delegation of newly selected Trade and Investment Officers visited Trade Development Authority of Pakistan’s (TDAP) headquarter, a statement said. The members selected for different positions of commercial mission across the globe, visited the TDAP as part of their country study tour. The delegation met TDAP Chief Executive Arif Ahmed Khan and … Read more
KARACHI: The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) witnessed a sharp decline of 2,171 points, or 4.8 per cent on a monthly basis during May to close at 43,078 points, a report by Arif Habib Limited showed. A spectrum of factors came into play which pushed the equity bourse lower. The new … Read more
KARACHI: The Pakistan stocks fell across the board on Wednesday due to the bleak data of headline inflation at 13.7 per cent for May and delays over the International Monetary Fund (IMF) programme resumption. An analyst at Arif Habib Limited said that the market remained under pressure as investors remained stagnant over expectations of an … Read more
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) registered 1,906 new companies in May 2022, raising the total number of registered companies to 169,919, a statement said on Wednesday. The latest numbers show an increase of 19 per cent as compared to the corresponding period of last year. The total capitalisation (paid-up-capital) with regard … Read more
KARACHI: The headline inflation hit 28-month high after the Consumer Price Index (CPI) increased 13.8 per cent on a year-on-year basis in May 2022, analysts said. According to data released by the Pakistan Bureau of Statistics (PBS) on Wednesday, the headline inflation during the month increased by 13.8 per cent, compared with 13.4 per cent … Read more
KARACHI: The Sindh Revenue Board (SRB) recorded a significant growth of 37 per cent in the revenue collection on a month-on-month basis to reach Rs14.04 billion in May 2022, compared with Rs10.26 billion during the same month of the last year. The SRB’s revenue showed a growth of 21 per cent to Rs131.82 billion during … Read more
KARACHI: The Pakistani rupee gained 59 paisas to reach Rs197.87 on Wednesday as the investors expect the government’s negotiations with the International Monetary Fund (IMF) to complete successfully. The local unit recorded an increase of 59 paisas to close at Rs197.87 to the dollar from Tuesday’s closing of Rs198.46 in the interbank foreign exchange market. … Read more
KARACHI: The Large Taxpayers Office (LTO) Karachi has collected tax revenue of Rs1.39 trillion during the period of July-May of fiscal year 2021/22. According to a press statement by the LTO Karachi, the latest collection depicted a 41 per cent increase, compared with Rs991.78 billion during the same period of last fiscal year. The LTO Karachi … Read more
KARACHI: The Pakistan International Airlines (PIA) Pre-Hajj flights will commence from June 6, 2022 with the first flight departing from Islamabad with 329 intending pilgrims for the holy city of Madinah, a statement said on Tuesday. With the announcement of Hajj operation commencement by the Ministry of Religious Affairs, the PIA’s Hajj flights schedule has … Read more
KARACHI: The Pakistan bourse remained range-bound throughout the day on Tuesday due to concerns over rising inflation numbers and tightening of money supply. An analyst at Arif Habib Limited said that the benchmark KSE-100 Index opened in the positive zone but lackluster activity was witnessed. Volumes remained dry in the main board although hefty volumes … Read more
KARACHI: The Pakistani rupee recovered 60 paisas to reach Rs198.46 on Tuesday, as positive sentiments prevailed in the market after the government met one of the conditions for the revival of the International Monetary Fund (IMF) programme. The local unit recorded an increase of 60 paisas to close at Rs198.46 to the dollar from Monday’s … Read more
KARACHI: The Pakistan equity market remained positive throughout the day, owing to a clarity on the resumption of the IMF programme, as the government initiated lifting subsidies on fuel and electricity, analysts said on Monday. An analyst at Pearl Securities said the political temperature cooled down with a peaceful end to the Pakistan Tehreek-e-Insaf’s (PTI) … Read more
KARACHI: The rupee continued to make a recovery against the dollar on Monday after the decision of the government to increase the prices of petroleum products, dealers said. The exchange rate witnessed an appreciation of 70 paisas to end at Rs199.06 against the greenback from last Friday’s closing of Rs199.76 in the interbank foreign exchange … Read more
KARACHI: The Pakistan equity market closed higher on Friday amid higher trades as investors weigh the government’s decision to abolish the subsidy on the prices of petroleum products. Ahsan Mehanti at Arif Habib Corp said that the investors’ confidence was boosted with the latest decision which is expected to pave the way for the resumption … Read more
DUBAI: Nutshell Group Founder and Chief Executive Officer Muhammad Azfar Ahsan, received the “Global Visionary Award for Global Connectivity of Businesses and Communities” by the BSV Blockchain Association, a statement said. Ahsan, who is also the founder of Corporate Pakistan Group, is the first Pakistani businessman to have received this recognition at the Global Blockchain … Read more
KARACHI: The Pakistani rupee gained Rs 2.25 to reach Rs199.76 on Friday as the government met the International Monetary Fund’s (IMF) condition of slashing the subsidy on the prices of fuel. The local unit recovered Rs2.25 to close at Rs199.76 to the dollar from Thursday’s closing of Rs202.01 in the interbank foreign exchange market. The … Read more
ISLAMABAD: Federal Minister for Foreign Affairs Bilawal Bhutto Zardari has attended the traditional Pakistan Breakfast on the sidelines of the World Economic Forum (WEF) at Davos on May 25, 2022, a statement said on Thursday. Pakistan Breakfast is Pakistan’s signature event which is held at every WEF annual meeting to discuss Pakistan’s economic and political … Read more
KARACHI: The Pakistan bourse rebounded on Thursday due to the clarity on the political front which acted as a positive trigger despite the government’s inability to convince the International Monetary Fund (IMF) for the revival of the stalled Extended Fund Facility (EFF) programme. Mohammad Waqar Iqbal at JS Global said that despite opening negative due … Read more
KARACHI: The Pakistani rupee shed nine paisas to reach an all-time low of Rs202.01 on Thursday as the government failed to secure a deal with the International Monetary Fund. The local unit fell 9 paisas to close at Rs202.01 to the dollar from Wednesday’s closing of Rs201.92 in the interbank foreign exchange market. The rupee … Read more
KARACHI: The Pakistan equity market witnessed a negative session on Wednesday due to the ongoing political noise which created panic among investors by pushing the KSE-100 Index down further. An analyst at Arif Habib said that the benchmark KSE-100 Index made the intraday low of 594 points and remained in the red zone throughout the … Read more
KARACHI: The Pakistani rupee shed 51 paisas to reach an all-time low of Rs201.92 on Wednesday owing to the uncertainty on the domestic political and economic fronts. The local unit fell 51 paisas to close at Rs201.92 to the dollar from Tuesday’s closing of Rs201.41 in the interbank foreign exchange market. The rupee recorded the … Read more
KARACHI: The Pakistan stocks closed on a negative note on Tuesday due to the significant hike in the policy rate besides depleting forex exchange reserves of the country. The KSE-100 Index opened negative and witnessed a volatile session throughout the day due to concerns over declining foreign reserves and an increase of 150 basis point … Read more
KARACHI: The prices of gold witnessed a significant hike of Rs1,950 in the local market to an all-time high of Rs143,600/tola on Tuesday as the rupee made another record low despite measures taken by the State Bank of Pakistan. Gold 24kt gained Rs1,950/tola and Rs1,672/10 grammes to hit Rs143,600/tola and Rs123,114/10 grammes, respectively. The precious metal recorded … Read more
KARACHI: The Pakistani rupee shed 48 paisas to touch an all-time low of Rs201.41 on Tuesday despite the State Bank of Pakistan’s (SBP) measure to hike the policy rate in order to curb demand. The local unit fell 48 paisas to close at Rs201.41 to the dollar from Monday’s closing of Rs200.93 in the interbank … Read more
KARACHI: The State Bank of Pakistan (SBP) on Tuesday reduced the tenure of auto financing to three years from five years to discourage vehicle demand and support the falling rupee. It was the second reduction in a period of nine months for auto financing. Previously, the central bank trimmed the maximum period for auto financing … Read more
KARACHI: The Pakistan bourse observed a steep fall on Monday due to the expectations of a sharp hike in the policy rate in the Monetary Policy Statement (MPS) besides rising political tensions. “The secondary market yields have already peaked. The political tensions and uncertainty are also high in the wake of PTI’s call for a … Read more
KARACHI: The prices of gold witnessed a significant hike of Rs2,350 in the local market to an all-time high of Rs141,650/tola on Monday as the domestic political and economic crises pushed the rupee to record low. Gold 24kt gained Rs2,350/tola and Rs2,015/10 grammes to hit Rs141,650/tola and Rs121,442/10 grammes, respectively. The precious metal recorded the … Read more
KARACHI: The Pakistani rupee declined 79 paisas to touch an all-time low of Rs200.93 on Monday as the country faces one of its worst political and economic crises. The local unit fell 79 paisas to close at Rs200.93 to the dollar from Friday’s closing of Rs200.14 in the interbank foreign exchange market. The rupee recorded … Read more
