Fed’s Bullard says policy rate should be at least 3.75pc by end of 2022 on July 16, 2022The US Federal Reserve should target a policy rate in the range of 3.75pc to 4pc by the end of this year in light of this week’s hotter-than-expected inflation data, St. Louis Fed President James Bullard said on Friday, “I would now revise up the policy rate moves,” Bullard said at an event organized by […]
Gold price declines by Rs1050 to Rs141,150 per tola on July 15, 2022The price of 24 karat per tola gold witnessed a decrease of Rs1050 on Thursday and was sold at Rs141,150 in the local market against its sale at Rs142,200 the previous day. The price of 10-gram 24 karat gold also declined by Rs901 and was sold at Rs121,013 against its sale at Rs121,914 whereas prices […]
PSX gains 486 points, closes at 42,348 points on July 15, 2022The KSE 100-index of the Pakistan Stock Exchange (PSX) continued with bullish trend on Thursday, gaining 486.14 points, a positive change of 1.16pc, closing at 42,348.91 points against 41,862.77 points on the last working day. A total of 227,848,374 shares were traded during the day compared to the trade of 164,827,449 shares the previous day, […]
CICC appoints new investment banking head – sources on July 15, 2022China International Capital Corp Ltd (CICC) has appointed veteran dealmaker Wang Shuguang to lead its investment banking business, said two people with knowledge of the matter. The appointment, effective July 11, comes as Wang Sheng, the bank’s previous investment banking head, has moved to China Galaxy Securities to take over as chief executive of the […]
Rupee loses Rs2.20 against dollar on July 14, 2022Exchange rate of the Pakistan rupee depreciated by Rs2.20 against the US dollar in the interbank trading on Wednesday and closed at Rs210.10 against the previous day’s closing of Rs207.90. According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollars in the open market were recorded at Rs207.5 and Rs209.75 […]
Pakistan’s exports to China surged 8pc in June on July 14, 2022Pakistan’s exports to China in June 2022 have increased by 8pc to US$251.30m as compared to the corresponding month of the previous year when it was recorded at US$232.74m in June 2021. Also, as compared to May 2022, Pakistan’s exports to China have shown positive signs by gaining a value of US$22.38m. In May, the […]
Euro falls below dollar parity for first time since 2002 on July 14, 2022The euro dropped below parity against the dollar on Wednesday for the first time in almost two decades, as a hawkish US Federal Reserve and growing concern about rising recession risks in the euro area continued to batter the currency. The latest slide came after another hot set of US inflation data. Europe’s single currency […]
FOREX-Euro bounces after reaching brink of parity with US dollar on July 13, 2022The euro rebounded on Tuesday after earlier sliding to a 20-year low and effectively reaching parity against the US dollar as investors worried that an energy crisis in the region will tip the economy into recession. The single currency reached $1.00005 against the greenback, the lowest since Dec. 2002, after data showed that German investor […]
Gold steadies near nine-month low as dollar rally powers on on July 13, 2022Gold steadied near the lowest in more than nine months as the dollar edged higher in anticipation of US inflation data this week that’s set to shape the magnitude of the Federal Reserve’s next rate hike. Investors concerned about the prospect of a global economic downturn have turned in droves to the greenback, which is […]
More than 62,000 crypto traders liquidated as Bitcoin, Ethereum take tumble on July 13, 2022Bitcoin (BTC) tumbled overnight, with the leading cryptocurrency dropping to levels as low as $19,621, according to data from CoinMarketCap. Last week was a bullish one for cryptocurrencies, as most ended up in the green territory. BTC had also managed to stay above its $20,000 support after weeks of waffling above and below this price. […]