Business

KARACHI: The benchmark of the national bourse exceeded in the outgoing week its all-time high of 52,876 points that it achieved in May 2017. Arif Habib Ltd said the outgoing week began with the State Bank of Pakistan (SBP) maintaining its policy rate at 22pc. The decision reflected that inflation had peaked and was expected to ease off in the near future. …

ISLAMABAD: The Cen­­tral Development Working Party (CDWP) on Friday cleared nine development projects worth about Rs224 billion in various sectors, mainly aimed at bringing in much-needed international financial assistance from multilateral and bilateral lenders that had been delayed inordinately because of slow progress on project preparation despite pledges made at the Geneva conference more than a year ago. Chaired by …

ISLAMABAD: The country is currently well-stocked with wheat reserves as both the federal and provincial food departments have reported a total stock of 6.934 million tonnes of wheat, the national food security ministry said in a statement on Friday. These reserves are sufficient for the country’s essential needs until May 2024 when the new crop harvest reaches the market, the …

LAHORE: The cotton arrivals in ginning factories by Oct 31 across the country remained 82 per cent higher than the production of the crop for the same period last year. The data released by the Pakistan Cotton Ginners Association (PCGA) on Friday showed that around 6.8 million bales arrived at the ginning factories till Oct 31 which is 82pc more …

KARACHI: The benchmark of major shares hit an all-time high on Friday as stock prices rose owing to declining yields on treasury bonds. The KSE-100 index closed at 53,123.04 points after gaining 466.28 points or 0.89 per cent from the preceding session. Topline Securities Ltd attributed the upswing in the KSE-100 index to a drop of 25-41 basis points in …

KARACHI: The rupee remained under pressure and lost 88 paise against the US dollar in the interbank market on Friday. The State Bank of Pakistan (SBP) reported the closing price of the dollar at Rs284.31. This was the 10th consecutive session of dollar appreciation. The regular increases in the greenback prices have seriously disturbed the market and the stakeholders. Bankers said the …

HOUSTON, Texas (KTRK) — This is your weekend to get things done outside because next weekend we might be dealing with widespread showers and thunderstorms. We’re looking at a fairly ideal temperature range for Saturday and Sunday with lows in the upper 50s to low 60s and highs in the upper 70s to low 80s. While it will be a mostly …

KARACHI: In a move to attract small investors who shy away from stock investing partly because of excessive documentation, the Pakistan Stock Exchange (PSX) has “further simplified” the brokerage account-opening procedure. In a brief note on Thursday, the national bourse said it has made a “significant reduction” in the number of data fields required for customer on-boarding. As a result, …

KARACHI: Oil marketing companies recorded volumetric sales of 1.26 million tonnes in October, up 19 per cent from a month ago but down 24pc on an annual basis. According to a note by Topline Research on the latest industry data, the monthly jump in volumetric sales is due to the low base of the preceding month. In addition, higher prices …

KARACHI: The foreign exchange reserves held by the State Bank rose $14 million in a week, the central bank said on Thursday, but the rupee remained under pressure and fell for the ninth consecutive day in the interbank market to close at 283.43 against the dollar. According to the SBP data, its reserves increased $14m during the week ending Oct …