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Business

Stocks lose 211 points on profit-taking


December 12, 2023

KARACHI: The winning streak of major shares came to a halt on Monday amid selling pressure on the Pakistan Stock Exchange (PSX). Topline Securities Ltd said bulls took a hit after having a massive show of strength for the last six consecutive days. Trading witnessed strong selling headwinds right after the opening bell rang with investors opting for profit-taking across …

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China agrees to review Free Trade Agreement, boost yuan-based trade


December 12, 2023

ISLAMABAD: The Chinese government has agreed to consider a request to amend the existing Free Trade Agreement (FTA), supply trade finance in yuans and provide loans to assist industry relocation to Pakistan. The requests were made during Pakistan’s Interim Commerce Minister Gohar Ejaz’s visit to China, where he is leading a 20-member group. Pakistan and China have come to a …

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ADB to help better access of women to micro credit


December 12, 2023

ISLAMABAD: The Asian Development Bank (ADB) on Monday announced that it has approved $155.5 million in financing for Pakistan that will support policy reforms enhancing women’s access to finance and providing credit to women-led micro, small, and medium-sized enterprises. In a statement, the Manila-based lending agency said the financing comprised a $100 million policy-based loan that supports legal and regulatory …

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PSX snaps positive streak as benchmark index loses 200 points


December 11, 2023

Shares at the Pakistan Stock Exchange (PSX) broke their record breaking streak and fell more than 200 points on Monday, with analysts attributing the sell-off to profit-taking. According to the PSX website, the KSE-100 index shed 211.31 points to close at 66,012.32 points, down 0.32 per cent from the previous close of 66,223.63. It should be mentioned that the KSE-100 index …

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Dissecting our boycott movment


December 11, 2023

At the height of Israel’s incessant pounding on hapless Gazans, the boycott of Israeli products is in full swing, mainly in Muslim-majority countries. Outlets of targeted products are losing clientele as well as slashing jobs. Customers are voting with their feet. At home, Pakistanis are boycotting Israeli products despite being unfamiliar with the BDS (Boycott, Divestment, Sanctions) ideology. Historically, Israel has faced several …

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Agriculture: Urea crisis: fertile grounds for corruption


December 11, 2023

Cultivation of winter’s major wheat crop has now reached the final stage. Grain producers started the season by preparing land for winter crops amidst reports of a marked decline in the availability of urea fertiliser both in Punjab and Sindh. Urea is a vital input for wheat. As the season progressed, hue and cry over its non-availability or black marketing …

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Finance: Path to revival seems uncertain


December 11, 2023

In November, annual national consumer inflation in Pakistan rose to 29.2 per cent from 26.8pc in October, mainly due to increased gas and electricity prices. Average yearly inflation during the first five months of this fiscal year (July-Nov 2023) stood at 28.6pc. Further hikes in energy prices are on the cards amidst the International Monetary Fund’s (IMF) dictated reforms in the electricity …

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Economic turnaround hinges on sustained reforms


December 11, 2023

Pakistan is a country where the solutions for economic ills are easily prescribed by every task force and committee formed after periodic intervals. There is no dearth of policy prescriptions. A lot of literature is available in academic and business circles that deals with prescriptions for the recovery and rehabilitation of Pakistan’s economy. There are some permanent features of any …

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Record-breaking week adds 4,532 points to PSX


December 10, 2023

KARACHI: The benchmark index of the Pakistan Stock Exchange (PSX) reached a significant milestone in the outgoing week as it crossed the psychological barrier of 66,000 points. Arif Habib Ltd said the sentiment remained robust since board meeting of the International Monetary Fund (IMF) is now scheduled for Jan 11. Additionally, Pakistan and Saudi Arabia agreed upon investment modalities during the …

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Digital trade fuels economic growth in Asia-Pacific


December 10, 2023

ISLAMABAD: Digital trade holds massive promise for the Asia-Pacific region, but there’s still much to do to help vulnerable countries catch up, and in this backdrop, UN agencies call for stronger policy coordination and capacity-building to ensure digital trade leads to inclusive development in the region. Digital trade and investment are driving forces of the modern economy, and growth in …

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