The Pakistan Stock Exchange (PSX) was crushed by another panic-selling spree on Monday, posting its ninth-highest day-on-day (DoD) loss, as investors gasped for clarity on the country’s political and economic stability, taking total post-election losses to 4.8% or over 3,000 points in just two days, dealers said. The benchmark KSE-100 Shares Index lost 1,878 points […]
Remittances to Pakistan from its foreign workers totaled $2.4 billion in January, up 0.6% from the previous month, according to a statement released by the State Bank of Pakistan (SBP) on Monday. “In terms of growth, remittances increased by 26.2% year over year and by 0.6% month over month during January 2024,” the central bank […]
Dealers reported that nervous investors panicked and sold on Monday, the Pakistan Stock Exchange (PSX) seeing its ninth-highest day-on-day (DoD) loss due to worries about the economy and the incoming regime. With 1,878 points dropped, the benchmark KSE-100 Shares Index closed at 61,065 on Friday, 2.98% lower than its previous close of 62,943 points. In […]
According to data issued by the central bank, the workers’ remittances in January 2024 clocked in at $2.40 billion in January. During Jan 24, workers’ remittances recorded an inflow of US$2.4 billion. For details see https://t.co/rPOvn9CTjfhttps://t.co/7XBd4uNES4#SBPRemittances pic.twitter.com/BJ79w2B0fs — SBP (@StateBank_Pak) February 12, 2024 However, the remittances have dropped by 3% in the first seven months […]
With ongoing tensions in the Middle East following Israel’s rejection of Hamas’ offer of a truce, oil prices increased on Friday and were expected to rise by about 7% on a weekly basis. By 1446 GMT, US West Texas Intermediate crude futures had increased $1.02, or 1.34%, to $77.24 a barrel, while Brent crude futures […]
The Board of Directors of MCB Islamic Bank Ltd. met recently under the direction of Mr. Raza Mansha in order to discuss the bank’s performance and approve its financial statements for the year that ends on December 31, 2023. The bank’s earnings before tax over the specified time was PKR 10.6 billion, a noteworthy increase […]
Shortly after opening on Friday, the Pakistan Stock Exchange (PSX) plummeted by 3.68%, or 2,362 points. Following the surprise result in the general elections, panic selling started in, sending the index to a 10-day low of 61,782 points. Topline Securities CEO Muhammad Sohail made a brief statement, saying, “PSX down…after unexpected election results.” Partial results […]
The ability of electric power distribution firms (Discos) to conduct business has been granted to the private sector under a concession deal that spans 20–25 years, as approved by the Cabinet Committee on Privatization (CCOP). A senior official who attended the meeting told The News on Wednesday that the private sector entities would be entitled […]
Many Pakistani businesses are facing serious obstacles right now; some are even considering closing their doors or making large personnel reductions as a result of their financial troubles. One such example is the delivery service startup Cheetay, which is apparently on the verge of closing down permanently. Dastgyr, an eCommerce platform that specializes in business-to-business […]
The plan to offer cellphones to the general people on easy installment plans has been met with resistance from two telecom carriers and cabinet members. The Ministry of Information Technology & Telecommunication brought up the issue at a cabinet meeting last month, proposing to issue a policy directive encouraging Cellular Mobile Operators (CMOs) and agencies […]
