SBP keeps policy rate unchanged at 5.75% for another two months on July 23, 2017 KARACHI: The State Bank of Pakistan on Saturday announced monetary policy, maintaining the policy rate at 5.75% for the next two months. Addressing press conference at SBP head office, newly appointed governor Tariq Bajwa said that following detailed deliberations and taking into consideration the strong likelihood of continued growth momentum, contained inflation and the […]
Pakistan suffers $12b current account deficit in FY17 on July 21, 2017KARACHI: Pakistan continued to face serious deterioration in its balance of payment situation during the last fiscal year FY17 as the country has to suffer current account deficit of $12 billion in the backdrop of rising import bill and disappointing export performance. Pakistan’s export sector depicted dismal performance during the outgoing fiscal year MFY17. The […]
Across-the-board buying pushes PSX up by 1,113 points on July 19, 2017 KARACHI: Pakistan equities closed Tuesday higher as institutional cherry-picking helped KSE 100 index to surge by as much as 2.5% and settle over 45,600 level amid across-the-board buying. The benchmark index gained 1,113 points to close at 45,636 points. KSE 100 remained upbeat today as media coverage of the second day of court proceedings […]
China remains biggest foreign investor in FY17 on July 18, 2017KARACHI: China remained the biggest foreign investor in Pakistan with total investment of $1,240.3 million made during the outgoing fiscal year,FY17, thanks to the China Pakistan Economic Corridor CPEC. The contribution of China in Foreign Direct Investment FDI increased the overall volume of investment by $2,410.9 million or 4.6 percent during July-June 2017 period as […]
Index takes largest decline of 2,153 points on July 12, 2017KARACHI: It was bears’ day at the Pakistan stock market on Tuesday where history of largest downfall was again made following JIT report submitted before Supreme Court on Monday. The benchmark KSE 100 index tanked 4.65%, largest decline since February 25,2009, or 2,153 points, largest ever point decline, to settle down at 44120.58 level. Analysts […]
Current account deficit swells to $11b for the first time on July 7, 2017KARACHI: Declining exports coupled with foreign exchange inflows continue to bleed Pakistan’s economy at the external front as country’s current account deficit for the first time has swelled by 3.2 percent of GDP in the 11 months of current fiscal year 2016-17 (Jul-May 2017. According to statistics issued by State Bank of Pakistan (SBP), the […]
PSX stocks drop 1,900 points ahead of Maryams JIT appearance on July 4, 2017KARACHI: Pakistan equities on Monday closed deep in red, ahead of Maryam Nawaz’s appearance before JIT, with benchmark KSE100 Index losing record 1900 points, on the first day of the new fiscal year, and settling down 4.1%, at its lowest since August 2015, at 44665.41 level. Domestic politics as key members of Premier’s family had […]
Stock market investors negatively react on June 23, 2017Karachi: Interestingly, the single appearance of Prime Minister Nawaz Sharif before the Joint Investigation Team JIT cost the Pakistan stock market, in terms of decline, equal to PTI’s four month long sit-in and protests. The market has fallen by 9 percent since the summon issued by JIT and obeyed by the Prime Minister, Pakistan’s capital […]
FDI up by 22.6% during 11MFY17, China top investor on June 22, 2017KARACHI: China remained the biggest investor in Pakistan with the investment of $920.4 million made during the eleven months of current fiscal year, 11MFY17, July 2016-May 2017. The contribution of China in Foreign Direct Investment FDI increased the overall investment to increase by 22.6 percent during July-May 2017 period as compared to the same period […]
PSX in tight grip of bears; index sheds 1,679 points on June 21, 2017KARACHI: Pakistan equities tanked on Tuesday as institutional selling in broader market dragged benchmark KSE100 Index below the 45,000 level, down by 1679 points or 3.6 percent. The benchmark KSE100 index so far has shed approximately 15% or 8000 points from its peak and 11.2% or 5700 points post MSCI EM upgrade. Market after opening […]