Category: Business

KARACHI: Stock market witnessed more bleeding in the just concluded week which marked the seventh successive week of selling spree by investors who dumped stocks and sought the shelter of fixed income securities. The market has sunk 14 per cent in the seven weeks; one of the longest losing streaks in the last 17 years […]

LONDON: British Prime Minister Theresa May said on Sunday she was preparing to make a “bold offer” to MPs in one final attempt to get them to back her Brexit deal. May said that when she brings the Withdrawal Agreement Bill before parliament early next month, it will come with a new package of measures […]

The rupee lost about 4.6 per cent value within two days. In the interbank market, it closed at 147.88 a dollar on May 17, down from 141.40 on May 15 — a loss of Rs6.48. On May 20, the State Bank of Pakistan (SBP) may or may not increase its policy rate further. It depends […]

For the opposition, commenting on the recent bailout package by the International Monetary Fund (IMF) is like critiquing a painting by George W. Bush: you’re required to hate it whether you like it or not. The IMF deal offers the opposition an endless buffet of contentious points to choose from: its delayed timing and small […]

KARACHI: Aftershocks from Thursday’s exchange rate dropcontinued to cascade through the financial markets on Friday as the rupee saw further decline in both the open and interbank markets and the stock market saw an 800-point fall, closing off its worst week in over a decade and half. Large fluctuations shook the interbank market, where the exchange […]

ISLAMABAD: With a 47 per cent increase in average prescribed gas price, the Oil and Gas Regulatory Authority (Ogra) on Friday requested the government to jack up rates for domestic consumers by up to 205pc with effect from July 1 to keep the gas companies afloat. In two separate determinations forwarded to the government, Ogra […]

KARACHI: The State Bank of Pakistan, through its subsidiary the SBP Banking Services Corporation, has again launched its SMS service (8877) for issuance of fresh currency notes to the public. The fresh currency notes will be available from designated commercial bank branches called “e-branches” and the 16 field offices of SBP-BSC. The booking of the […]

KARACHI: A meeting between the brokers and stakeholders with the Finance Minister Dr Abdul Hafeez Sheikh on Friday morning was said to have agreed to consider the “recommendation of putting in place a market support fund, keeping in view the attractive valuations,” a press release issued in the evening by the PSX stated. Although the […]

BEIJING: The United States is not sincere about wanting to resume trade talks with China and has damaged the atmosphere for negotiations with its recent moves, a state social media account said. US Treasury Secretary Steven Mnuchin said on Wednesday he will likely travel to Beijing soon to continue negotiations with Chinese counterparts as the […]