Category: Business

The benchmark KSE-100 index recovered 1,195.04 points or 3.57 per cent of its volume at the close of trading on Wednesday. Trading opened at 33,618.29 points, with the market remaining mostly on an upward trajectory throughout the day. The rise was linked to reports that a market support fund is being considered for stabilisation of […]

As the government embarks on an arduous journey to fix the economic imbalances with the help of International Monetary Fund (IMF) bailout, the foreign direct investment (FDI) halved to $1.376 billion during the first 10 months of this fiscal year from $2.489bn in the corresponding period last year. The FDI inflows fell to $101.8 million in […]

The National Accountability Bureau (NAB) has arrested three suspects from Karachi involved in alleged misappropriation and money laundering in connection with the Nooriabad power project. The suspects, who were arrested a day earlier, include Sindh Engro Coal Mining Company Chairman Khursheed Jamali, CEO M/S Technomen Kinetic Pvt Ltd Syed Asif Mahmood and Director Nooriabad Power […]

KARACHI: The country’s current account deficit (CAD) contracted by 27 per cent to $11.586 billion during the first 10 months of the current fiscal year compared to $15.864bn during the same period last fiscal year, according to latest data released by the State Bank of Pakistan. The contraction is mainly due to 5pc decrease in […]

KARACHI: In anticipation of a market support fund, stock investors began building positions which saw the benchmark KSE-100 index close in the green for the second consecutive session on Tuesday gaining 191.56 points (0.58 per cent) to settle at 33,442.10. The market took off to a dismal start due to the distress over the higher […]

SEOUL: An international trade fair in North Korea this week may be the largest such event on record, analysts said on Tuesday, with hundreds of Chinese and other foreign vendors taking part despite sanctions pressure. The 22nd Pyongyang Spring International Trade Fair opened on Monday with a ceremony hosted by top economic officials, North Korean […]

The value of the US dollar touched Rs153.50 in the open market on Tuesday with the rupee falling Rs1.5 compared to yesterday’s exchange rate — continuing a slide that saw it lose more than 5% last week in the wake of a $6 billion loan accord with the International Monetary Fund. The IMF accord, which […]

KARACHI: In a move that will doubtless trigger dismay across the business community, the State Bank of Pakistan (SBP) on Monday raised its policy rate by 150 basis points to 12.25 per cent, 50bps above market expectations. The bank cited rising inflation as well as expectations of future inflation driven by a weak rupee, widening […]

ISLAMABAD: The Federal Board of Revenue (FBR) has notified rules for the implementation of the first tax amnesty scheme of the PTI government for whitening of undisclosed expenditures, sales and assets, including foreign assets, at nominal tax rates. The four-page document, called Assets Declaration (Procedure and Conditions) Rules 2019, was released late night for seeking […]

KARACHI: The business community on Monday reacted with dismay and some shock at the decision by the State Bank to raise the key policy discount rate by 1.5 per cent, bringing it to 12.25pc. “I think there was no need for any further interest hike as food inflation was quite under control in April than […]