No choice other than democracy, says PM on November 30, 2017KARACHI: The future of the nation lies in the democracy and there is no other choice. We may have differences and dharnas but our common destiny is democracy,” said Prime Minister of Pakistan Shahid Khaqan Abbasi while addressing the inauguration ceremony of 1,320MW coal-fired power plant at Bin Qasim on Wednesday. “Pakistan has a vibrant […]
SBP keeps policy rate unchanged at 5.75pc, expects 6pc GDP growth on November 25, 2017KARACHI: State Bank of Pakistan has again decided to keep the policy rate unchanged at 5.75 percent saying that the inflation in fiscal year 2018 is expected to remain below the target of 6 percent. In the monetary policy statement issued on Friday, the central bank said that the economic activity was strong as corroborated […]
Karachiites can’t afford even Landa Bazaar now on November 21, 2017KARACHI: With the onset of winter the oldest Landa Bazaar (used garments’ market) is buzzing with sounds of buyers and sellers as a large number of city’s middle class dwellers thronged the bazaar to buy clothes before the cold waves hit the city. The bazaar is not what it used to be for the poorest […]
Engro’s removal from MSCI Emerging Markets Index drags PSX down on November 15, 2017KARACHI: Trading at the bourse on Tuesday was underpinned by Morgan Stanley Capital International’s (MSCI) overnight announcement where the leading index provider rejected Engro Corporation (ENGRO) from MSCI Emerging Markets Index. The benchmark KSE-100 Index traded between an intraday high of 77 points and intraday low of 340 points, to close at 40,944, shedding 296 […]
Ease of doing business: Pakistan’s ranking drops three notches to 147 on November 2, 2017KARACHI: Pakistan’s position in the global Doing Business rankings has slipped three notches to 147 from last year’s 144th position. Experts term the findings of the World Bank’s report ‘a setback’ to the government’s business friendly impression. Professor Dr. Athar Ahmed, a senior economist, termed the report a ‘matter of shame’. “The report depicts the […]
Doing Business: Pakistan’s ranking slips to 147 out of 190 countries on November 1, 2017KARACHI: Pakistan’s position in the global Doing Business rankings has slipped three notches to 147 out of 190 countries, from last years 144th position. Experts term the findings of the World Bank’s Doing Business 2018 report “a setback” to government’s business friendly impression. Professor Dr. Athar Ahmed, senior economist, termed the WB report a “matter of […]
SBP’s profit surges 4pc to Rs 238.064 billion on November 1, 2017KARACHI: The lending to Federal Government and commercial banks along with earnings on the foreign exchange reserves remained major sources of State Bank of Pakistan’s (SBP) profit for FY17 which registered a modest growth of 4 percent over the last year’s profit, increasing to Rs 238,064 million from Rs 229,353 million in FY16, says Annual […]
Pakistan’s current account deficit swells to $3.6 billion on October 21, 2017KARACHI: Pakistan’s external financial position continued to deteriorate in the backdrop of rising imports as the country’s current account deficit rose to $3.6 billion in the first three months of the current fiscal year, FY18, against $1.6 billion in the same period of last fiscal year, FY17. Current account deficit during the month of September […]
Rising Chinese investment pushes FDI up by 56.3pc on October 19, 2017KARACHI: Foreign direct investment (FDI) in Pakistan continued to show encouraging growth, thanks to the Chinese government who had been continuously increasing its investment in Pakistan, in the backdrop of China-Pakistan Economic Corridor (CPEC). According to data released by the State Bank of Pakistan (SBP), the overall investment in the first three months of current […]
PSX gains 945 points after days of lull trading on October 17, 2017KARACHI: Prime Minister’s anticipated injection of Rs 20 billion worked perfectly well to bring back the bulls at the Pakistan stock market on Monday with the benchmark KSE-100 Index gaining 945 points, or 2.37 percent, to close at 40,791 mark. Equities managed notable comeback after days of lull as market cheered and pinned hopes on […]