Business

Shares at the Pakistan Stock Exchange (PSX) fell by more than 1,900 points on Wednesday, shortly after a Supreme Court verdict conditionally suspended its own ruling on military trials of civilians pending final ruling. According to the PSX website, at 2:33pm the KSE-100 index declined steeply by 1,987.08 points to reach 64,439.70 points — down 2.99pc from the previous close of 66,426.78 …

The State Bank of Pakistan’s (SBP) Monetary Police Committee (MPC) has decided to maintain the status quo and keep the key policy rate unchanged at 22 per cent to keep the aggregate demand in check, according to a press release issued on Tuesday. “The decision does take into account the impact of the recent hike in gas prices on inflation in November, …

KARACHI: Auto assemblers continued to face a highly disturbing situation as year-on-year car sales plunged 53 per cent, trucks 48pc, buses 45pc, light commercial vehicles, pickups and vans 37pc, and two/three-wheelers recorded a 13pc drop during the first five months of FY24. However, brisk agricultural indicators significantly boosted the sales of tractors (Massey Ferguson and Fiat) by 98.19pc to 20,806 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …