Business

Japan’s Nikkei share average closed at a 33-year high on Tuesday, as investors snapped up chip-related stocks tracking an overnight Wall Street rally in technology shares. The Nikkei rose 1.16 per cent to finish at 33763.18, its highest since March 1990. Of the 225 stocks in the index, 156 shares advanced. The broader Topix index rose 0.82pc to 2,413.09. Chip-related …

New details and statistics continue to emerge, pointing to the shrinking geopolitical clout of major Arab oil producers. The countries in the Organisation of Petroleum Exporting Countries (Opec) and its allies in the Opec+ are no longer the sole arbiters of the supply side of the global energy dynamics. Markets are no longer in their absolute control. And this carries …

ISLAMABAD: The nation’s state-run commercial entities incurred losses amounting to a staggering Rs1.395 trillion over the fiscal years 2021 and 2022, the latest consolidated report by the Ministry of Finance has revealed. This figure is more than twice the size of the Public Sector Development Programme (PSDP), bringing to light significant concerns regarding financial management and operational efficiency in the …

Despite higher energy and interest rate costs and even amidst stagnant industrial output, Pakistan’s merchandise exports are growing — thanks to strong overseas demand, reduced bureaucratic impediments to export growth and a shift in export earnings from textiles to agricultural products and food. On the other hand, merchandise imports continue to fall despite the recent decline in the US dollar …

China seems to have successfully spurred a ‘modest’ post-pandemic economic recovery amid a myriad of problems, ranging from slump in the real estate sector, stagnant domestic demand, mounting local government debt, deflation, oversupply in some sectors (due to lower exports), soaring youth unemployment and dwindling foreign investment. That China has defied predictions of economic gloom is good news for the …

As a global concept, Islamic banking has established itself on a sound and solid footing. Almost every country with a substantial financial base offers Islamic banking operations parallel to conventional financing. However, the situation in Pakistan is rather complex. Pakistan’s constitutional structure makes it compulsory for the state to shift from conventional banking to Islamic banking after the unanimous decision …

WASHINGTON: Pakistan’s enduring relationship with the International Monetary Fund (IMF) since 1958 has woven a tapestry of financial challenges, strategic manoeuvres, and global assistance, shaping the nation’s economic trajectory over the decades. Recent data reveals a nuanced picture of Pakistan’s ongoing IMF engagement, holding substantial implications for economic stability. Ranking fifth in outstanding debt with the IMF, standing at $7.4 …

KARACHI: The equities market turned in a robust performance in the first outgoing week of the new calendar year thanks to positive developments on the economic front. Arif Habib Ltd said the stock market displayed notable resilience, experiencing a significant surge of 2,211 points on Monday, recording the second-highest absolute point increase and marking the highest surge on the first …

ISLAMABAD: The Ministry of Finance said on Saturday that restructuring of the Federal Board of Revenue (FBR) was on the government’s agenda to improve its governance, efficiency and effectiveness. An official announcement of the finance ministry said that certain proposals have been prepared in line with international best practices to rationalise and streamline the functions of the FBR, strengthen the …

KARACHI: December marked a significant milestone for the equity market, as it received a record inflow of $65 million through the Special Convertible Rupee Account (SCRA), propelling the market to an all-time high. The SCRA, a financial mechanism, allows foreign investors to convert funds into Pakistani rupees for investment in the country’s equity and debt markets and later reconvert these …