Business

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index shed more than 500 points on Wednesday as clashes between PTI protesters and police officials in Lahore dampened investor sentiment. According to the PSX website, the KSE-100 index had gone down by 572.63 points, or 1.37 per cent, by 12:35pm. Ahsan Mehanti of the Arif Habib Corporation said the stock market was witnessing a …

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index shed more than 400 points on Tuesday, with analysts attributing the fall to the central bank’s hike in the interest rate coupled with the current political situation. According to the PSX website, the KSE-100 index had gone down by 434.15 points, or 1.02 per cent, around 2:15pm. By the day’s end, the …

ISLAMABAD: With a view to enhancing business-to-business cooperation between Islamabad and Beijing, a Chinese entrepreneur will make an initial investment of $50 million in Gwadar for setting up of an end-to-end supply chain facility for export of seafood to China. A high-tech processing facility with technology transfer will be set up in the industrial zone of Gwadar for the export …

ISLAMABAD: Amid external account challenges, Pakistan borrowed more than $15.5bn in foreign loans in the first 10 months of the current fiscal year, about 70pc more than borrowing from foreign sources in the same period last year. In its monthly report on foreign economic assistance, the Ministry of Economic Affairs said it received about $13.03bn foreign assistance in 10MFY2022. The …

KARACHI: One tola and 10 grams of domestic gold prices on Monday hit a new high at Rs141,650 and Rs121,422, respectively, up by Rs2,350 and Rs2,015 from Saturday, rates released by the Karachi Saraf and Jewellers Group revealed. A $15 increase in world gold prices to $1,862 per ounce, followed by a rupee depreciation against the dollar, had pushed local …

DAVOS: Multiple threats to the global economy topped the worries of the world’s well-heeled at the annual Davos think-fest on Monday, with some flagging the risk of a worldwide recession. Political and business leaders gathering for the World Economic Forum (WEF) meet against the backdrop of inflation at its highest level in a generation in major economies, including the United …

THE vision of former prime minister Imran Khan for the Naya Pakistan Housing Programme was “to deliver five million housing units with allied amenities to all citizens, especially focusing on the financially underserved and middle-income communities, as a measure of comprehensive socio-economic uplift.” That’s written on the official website of Naya Pakistan Housing and Development Authority (NAPHDA) expressing the raison …

The Pakistan Stock Exchange (PSX) witnessed selling pressure on Monday as the benchmark KSE-100 index lost over 500 points within the first hour of trading. According to the PSX website, the KSE-100 Index opened at 43,100.71 points and immediately fell by over 400 points. After around 9:30am, the bourse saw a brief correction before, once again, going down. At around …

The government’s decision to ban the import of several hundred nonessentials last week may be a step in the right direction but it will certainly not be enough. Banning private foreign trips and a host of other dollar saving measures for a specified time period may ease the mounting pressure on the country’s foreign exchange reserves and arrest the rupee …

HYDERABAD: Federal Minister for Information Technology and Telecom­muni­cation Aminul Haq has said that Pakistan’s IT exports would touch $3 billion mark in the current year while $5bn target was fixed for the next year. Speaking at the inauguration of a National Incubation Centre (NIC) here on Saturday evening, he said an investment target of Rs600m was fixed for the IT …