Business

KARACHI: Despite unprecedented interest rates, unbearable auto financing, higher prices and political and economic instability, the combined sales of cars, jeeps, vans and pickups surged 81 per cent to 10,536 in January from 5,816 in December 2023. However, the sales in the above segment remained 5pc lower compared to 11,124 units during January 2023. According to the Pakistan Automotive Manufacturers …

KARACHI: The Pakistan Stock Exchange (PSX) on Tuesday snapped the post-election losing streak in a volatile session a result the benchmark KSE 100-share index managed to close in the green. Topline Securities Ltd said the benchmark KSE-100 index swung in both directions as investors were still not clear who would form a new government as a result the the index plunged by …

ISLAMABAD: While approving an already allocated Rs7.5 billion subsidy package for the upcoming Ramazan, the Economic Coordination Committee (ECC) of the Cabinet could not decide how to recover Rs100bn in additional money from gas consumers in the remaining four and a half months of the current fiscal year as the commerce minister pressed for reducing cross-subsidisation burden on industry. The …

Shares at the Pakistan Stock Exchange (PSX) traded in the green on Wednesday over clarity on the political front, gaining more than 900 points. According to the PSX website, the benchmark KSE-100 index gained 1166.11 points, or 1.9 per cent, to stand at 62,393.03 at 10:43am from the previous close of 61,226.92. It finally closed at 62,153.84 points, up 926.92 or …

KARACHI: Workers’ remittances increased 26.2 per cent year on year in January but the overall inflows were down by 3pc in the first 7 months of 2023-24. The State Bank of Pakistan (SBP) data on Monday showed that the country received $2.397 billion in remittances in January against $1.9bn in the same month of 2023. Month-on-month the inflows edged up …

KARACHI: The Pakistan Stock Exchange (PSX) witnessed a meltdown on Monday as post-election political instability triggered an across-the-board panic selling, which dragged the benchmark KSE 100-share index below 61,000 hitting an intraday low at 60,647.68. Arif Habib Ltd Head of Research Tahir Abbas told Dawn that the political landscape ambiguity along with lack of clarity on the circular debt resolution plan dented …

KARACHI: The lack of clarity following the Feb 8 general elections has businessmen shaking in their boots, with many expressing the fear that they would not be able to sustain more political instability and economic turbulence, while the incoming government may find it hard to restore some semblance of order, in the shadow of IMF conditions. “I do not think …

Bitcoin spiked above $50,000 on Tuesday for the first time in more than two years as investors grow optimistic that US approval of broader trading in the unit will ramp up demand. The cryptocurrency has enjoyed a strong run in recent months, fuelled by expectations US lawmakers would allow the creation of exchange-traded funds (ETFs) that track the price and …

Shares at the Pakistan Stock Exchange recovered their losses from the previous two sessions on Tuesday as the benchmark index gained 161 points. According to the PSX website, the KSE-100 index was down 1121.24 points, or 1.84 per cent, to stand at 59,944.07 points shortly after trading began. However, after noon, the shares reversed the trend and shed their losses. The …

The Pakistan Stock Exchange (PSX) on Monday was dominated by bears that dragged its benchmark KSE-100 index down by 1,800 points, with analysts attributing the losses to “political uncertainty”. The KSE-100 index closed at -1878.43, or -2.98 per cent, to stand at 61,065.31 from the previous close of 62,943.74 points. The highest point today was noted to be around 9:40am …