Business

ISLAMABAD: President Asif Ali Zardari on Wednesday called for expanding the scope of bilateral cooperation between Pakistan and Japan across a wide spectrum of areas, especially trade, investment, economy, culture and people-to-people contacts. “Pakistan is a huge market and Japanese businesses should benefit from the economic opportunities by investing in diverse sectors,” the president expressed these views while talking to …

KARACHI: Foreign Direct Investment (FDI) jumped 16 per cent year-on-year to $131.2 million in February, the State Bank reported on Wednesday. The increase in February inflows was also a welcome change from January’s dire situation, which saw a net outflow of $173m. However, the overall trend for the fiscal year remains troubling, with FDI falling by 17pc to $821m during …

ISLAMABAD: With the country set to approach the International Monetary Fund (IMF) for a fresh programme, Prime Minister Shehbaz Sharif on Wednesday decided to include global experts and all stakeholders in a consultative process aimed at improving the country’s economic health and financial stability. Chairing a meeting on economic revival and reforms, the PM said he would oversee the implementation …

WASHINGTON: Bit­coin fell by as much as 6.5 per cent on Tuesday, on track for its largest one-day drop in two weeks, as a wave of selling hit cryptocurrencies and other risk assets, such as stocks. The price was last down 5.86pc at $63,419, having dropped to a two-week low of $62,966, while ether fell 6.39pc to $3,283. Bitcoin is …

Bullish momentum continued at the Pakistan Stock Exchange (PSX) on Wednesday as shares gained over 200 points after Pakistan and the IMF reached a staff-level agreement. The KSE-100 index started on a positive note after the bell, climbing more than 400.04, or 0.61 per cent, to stand at 65,902.63 points from the previous close of 65,502.59. Finally, the index closed at …

KARACHI: The current account posted a surplus in February, contrary to the preceding month, raising hopes that the government would achieve the current deficit target for fiscal year FY24. According to data released by the State Bank on Tuesday, the current account was $128 million in surplus last month, compared to a deficit of $303m in January and a deficit …

TOKYO: The Bank of Japan (BOJ) ended eight years of negative interest rates and other remnants of its unorthodox policy on Tuesday, making a historic shift away from its focus on reflating growth with decades of massive monetary stimulus. While the move was Japan’s first interest rate hike in 17 years, it still keeps rates stuck around zero as a …

ISLAMABAD: Exports of non-textile value-added products registered a year-on-year growth of 0.47 per cent in the first eight months of the current fiscal year, a healthy sign of getting more orders from the international market. The non-textile products exports did not include the export value of food products during the period under review. In absolute terms, the value of non-textile …

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has issued guidelines to NBFCs involved in digital lending to ensure best practices in advertisements and call centre management. The guidelines were designed to prioritise borrower protection and to prevent deceptive marketing and unethical call centre practices. Non-banking financial companies (NBFCs), licensed by the SECP, are extensively promoting their loan products …

ISLAMABAD: Presi­d­ent Asif Ali Zardari on Monday emphasised the need for boosting trade ties with the US and the United Arab Emirates and invited businessmen of the two countries to invest in Pakistan Stock Exchange (PSX). According to the Presidency, the president underlined the need to enhance trade and investment relations with the US, besides exploring collaborative opportunities in diverse …