Asian markets drop as Trump worries kick in after China disappoints By: APP on November 13, 2024Separately, Asian markets sank Tuesday as worries about the impact of a possible trade war between China and the United States when Donald Trump takes office, which compounded disappointment about Beijing’s lack of extra measures to boost its stuttering economy. The sell-off came despite another record close on Wall Street, fuelled by expectations that Trump […]
KSE-100 sheds 424 points as investors resort to profit-taking By: Agencies on November 13, 2024After days of positive momentum, profit-taking was the theme of the day as the benchmark KSE-100 Index closed lower by 424 points on Tuesday. The KSE-100 witnessed selling pressure since the start of the session, which pushed the index to an intra-day low of 92,893.11. Some late-session buying helped the KSE-100 Index regain the 93,000 […]
SBP approves TPL Corp, Abhi’s acquisition of FINCA Microfinance Bank By: Agencies on November 13, 2024The State Bank of Pakistan (SBP) has given its final approval to TPL Corp Limited (TPL), a Pakistani financial platform, and Abhi (Private) Limited (Abhi) for the acquisition of FINCA Microfinance Bank Limited. The development was shared by TPL Corp, the investment holding company of the TPL Group, via notice to the Pakistan Stock Exchange […]
Saudi National Bank terminates plan to divest stake in Samba Pakistan By: Agencies on November 13, 2024Saudi National Bank (SNB) has terminated the process for the sale of its equity stake in Samba Pakistan. The development was shared by Samba Bank, a subsidiary of SNB, in a notice to the Pakistan Stock Exchange (PSX) on Tuesday. “We have been notified that after completion of due diligence and an exploration for the […]
Promotion of trade activities vital to uplift economy: SCCI By: APP on November 13, 2024Sargodha Chamber of Commerce & Industry (SCCI) President Khawaja Yasir Qayyum on Tuesday stressed the need for further reforms in trade policies to support the growth of local industries and remove obstacles faced by the business community. Talking to APP, he also emphasised the importance of addressing the lack of banking channels with countries like […]
Rupee sheds 6 paisa against dollar By: APP on November 13, 2024The Pakistani rupee on Tuesday depreciated by 06 paisa against the US dollar in the interbank trading and closed at Rs 277.92 against the previous day’s closing of Rs 277.86. However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 277.40 […]
Gold prices decrease by Rs.7,000 to Rs.270,500 per tola By: APP on November 13, 2024The price of 24 karat per tola gold decreased by Rs.7,000 and was sold at Rs.270,500 on Tuesday against its sale at Rs.277,500, All Sindh Sarafa Jewellers Association reported. The price of 10 grams of 24 karat gold also came down by Rs.6,000 to Rs.231,911 from Rs.237,911 whereas that of 10 gram 22 karat gold […]
IMF team arrives in Pakistan; FBR reports Rs2.6tr tax revenue in Q1 By: Agencies on November 12, 2024An International Monetary Fund (IMF) delegation has arrived in Pakistan and commenced discussions with Federal Board of Revenue (FBR) officials on the nation’s fiscal performance. The team, led by the FBR chairman, briefed the IMF on tax collection and revenue figures for the first quarter of the current financial year. According to FBR officials, tax […]
Pak-US Tech Investment Conference inaugurated By: APP on November 12, 2024Minister of State for IT and Telecommunication Shaza Fatima Khawaja said Monday that the ‘Pak-US Tech Investment Conference’ marked a significant milestone for Pakistan’s IT industry and would help foster collaboration between companies of two countries deeply involved in the future of innovation. While addressing the first-ever Pak-US Tech Investment Conference 2024 through a video […]
PSX hits new high as KSE-100 index breaches 94,000 barrier By: Agencies on November 12, 2024The 100-Index of the Pakistan Stock Exchange (PSX) continued with bullish trend on Monday, gaining 356.64 more points, a positive change of 0.38 percent, closing at 93,648.33 points as compared to 93,291.68 points on the last trading day. A total of 815,188,409 shares were traded during the day as compared to 763,255,174 shares the previous […]