The index gained 851.11 points, or 0.98%, to reach 88,045.64 points. According to Mohammed Sohail, CEO of Topline Securities, the rally was driven by local investors aggressively buying shares amid falling bond yields and expectations of a substantial cut in the monetary policy rate. “The locals are buying aggressively due to falling bond yields and […]
As per details, the FBR has restructured the Customs Intelligence and Investigation division, limiting its role to monitoring only. Additionally, the authority to stop or release consignments has been withdrawn from Customs Intelligence officers. A notification has been issued by the FBR Chairman under the directives of the Prime Minister, outlining reforms and a new […]
The announcement came following a meeting between Pakistan’s Finance Minister Muhammad Aurangzeb and the delegation of the Islamic Trade Financing Corporation (ITFC) in Washington. As per details, the $3 billion loan amount will be disbursed to Pakistan over the next three years. The CEO of ITFC, Engineer Hani Salem Sonbol, was also present during the […]
In a written answer, the finance ministry said the registration of the traders under the scheme is underway and so far 76,259 traders have been enrolled. 29,735 in Lahore, 11,585 in Rawalpindi, 8,138 in Karachi and 6,563 traders from Islamabad have registered themselves under the Tajir Dost scheme. It should be noted here that the […]
“SBP has cut its benchmark interest rate for three consecutive meetings by 450 basis points to 17.5 percent from a record 22 percent. The next meeting on Nov 4 may see the central bank reduce the policy rate, Muhammad Aurangzeb in an interview with Bloomberg in Washington on the sidelines of the IMF meeting. Pakistan’s […]
Brent crude futures dipped 20 cents, or 0.3%, to $75.84 a barrel by 0330 GMT. U.S. West Texas Intermediate crude futures shed 20 cents, or 0.3%, to $71.54 a barrel. Crude futures settled higher in the two previous sessions this week. “The market continues to wait for Israel’s response to Iran’s missile attack,” ING analysts […]
According to a notification issued by the Sindh government, the minimum wage has been fixed at Rs37,000 per month for the workers from July 2024. All the industrial and business firms of the province are bound to give Rs37,000 per month wage to their workers, the notification said. It further said if the workers are […]
As per details, the CAA officers chairman, Zareen Gul Durrani, highlighted the issue of the delay in departmental promotions in a letter penned to the concerned authorities. The letter highlights that many officers within the Civil Aviation Authority are still awaiting promotions. The letter further stated that, to date, no Departmental Promotion Committee has been […]
Volkswagen Financial Services (UK) has also agreed to pay more than £21.5 million, shared among around 110,000 customers after the Financial Conduct Authority showed it had been “failing to treat its customers in financial difficulty fairly”. The FCA said that between 2017 and the middle of 2023 Volkswagen Finance had failed to take into account […]
Poonawalla will buy the stake through his production company, Serene Productions. This is his first major investment outside the pharma sector since 2021 when he bought a 20% stake in the social media platform Wakau Interactive. “They (Adar and Serum) are trying to fruitfully deploy the large cash pile that the company would have generated […]
