KARACHI: Pakistan’s equity market witnessed massive profit-taking on Monday where the index dropped below 46,000 points, dealers said. An analyst at Pearl Securities said cement and technology sectors cumulatively eroded 351 points from the index, as the State Bank of Pakistan (SBP) raised the policy rate by 150bps; thus, the effect was seen in the … Read more
KARACHI: The rupee gained 46 paisas against the dollar on Monday, amid a highly volatile trading session, dealers said. The exchange rate ended at Rs174.77 against the dollar, compared with Rs175.23 in the interbank foreign exchange market. The dealers said the market opened with a sharp rise in the rupee value; following the monetary policy … Read more
Zambia’s new Finance Minister, Situmbeko Musokotwane, has said that it was precarious to agree to a loaning programme with the International Monetary Fund (IMF) because it would give creditors assurance and the government cheaper and longer financing. Musokotwane, appointed on Friday by recently elected President Hakainde Hichilema, faces the intimidating task of trying to pull … Read more
KARACHI: The equity market is expected to depict a mixed-to-positive trend next week, amid Financial Action Task Force’s (FATF) announcement to keep Pakistan on the grey list, and the sectors that got major relief in the budget will remain in the limelight. The outgoing week remained depressed, as investors’ were awaiting the outcome of the … Read more
