ADB approves $300m loan for Pakistan’s capital market growth on March 23, 2022In a decision announced on Tuesday, the Asian Development Bank (ADB) approved a $300 million loan to help Pakistan further improve its capital markets and attract private investment into the nation. As stated in an ADB statement, the latest funding is part of the second sub-program of the ADB’s Third Capital Market Development initiative, and […]
Commercial banks need not be wary of FinTech: FPCCI on March 22, 2022FPCCI chief Irfan Iqbal Sheikh has quashed many unwarranted concerns on FinTech vis-à-vis Commercial Banks. He added that the Commercial Banks need not be apprehensive of FinTech Companies as these are only facilitating and supplementing the conventional banking; improving financial inclusion; documenting the informal economy and banking the unbanked. He said that no one can […]
Weekly stocks review: political uncertainty, currency devaluation hit KSE-100 on March 21, 2022While political uncertainty and currency devaluation continued in Pakistan, nervous investors were concerned about the impact of rising commodity prices on the country’s economy. As a result, the KSE-100 benchmark index finished the week down 623.36 points, or 1.44 percent, at a level of 43,030 points. The week began on a sour note, with investors […]
KCCI worries about declining rupee on March 20, 2022While expressing deep concern about the depreciation of the rupee against the dollar, KCCI president Muhammad Idrees warned that the depreciation of the rupee would have a significant impact on inflation by raising the cost of doing business and thus making Pakistani goods uncompetitive in export markets as well as making them more expensive. He […]
Food prices approach historic highs, put poor at risk on March 18, 2022A combination of disruptions in the global supply chain, unfavourable weather conditions, and rising energy and fuel prices has resulted in a sharp increase in the price of food around the country, particularly in Karachi, placing a significant burden on poorer people and raising the possibility of social unrest. A wide range of products has […]
KSE-100 index rises by 0.6pc as stocks maintain gains on March 17, 2022The benchmark KSE-100 Index rose 0.6 percent on Wednesday to settle slightly below the 44,000-point barrier, extending gains from the previous session. The amount of stock exchanged, as well as the value of that volume, both grew. A delay in opposition protests, a drop in global commodity prices, and news of talks between Russian and […]
KCCI for efforts to control inflation ahead of Ramazan on March 16, 2022Muhammad Idrees, president of the Karachi Chamber of Commerce and Industry (KCCI), has urged Sindh Chief Minister Syed Murad Ali Shah to convene a Price Control Committee meeting immediately to devise effective strategies and implement stringent measures to control the rising prices of most household products and commodities. To prevent the poor masses from crumbling […]
Weekly Review: Stocks plummet amid political unrest on March 14, 2022In the wake of political turmoil in the country, as well as a jump in global commodity prices, the Pakistan Stock Exchange had a roller-coaster trading week marked by pessimistic activity. In response to the increased volatility on the global and domestic fronts, the KSE-100 index fell 898 points, or 2.02 percent, in the previous […]
SBP governor announces task force to boost agriculture finance on March 12, 2022The first meeting of the Task Force on Electronic Warehouse Receipt Financing (EWRF) was held under the chairmanship of State Bank of Pakistan (SBP) Governor Dr. Reza Baqir on Friday in Lahore. Punjab Chief Secretary Kamran Ali Afzal also attended the meeting on special invitation. The EWRF Task Force is a high-level forum headed by […]
SBP keeps interest rate at 9.75pc on March 9, 2022On Tuesday, the State Bank of Pakistan kept its benchmark interest rate at 9.75 percent for the next one and a half months, in line with market forecasts. Following last week’s announcement of price reductions for gasoline and electricity as part of the government’s relief package, the Monetary Policy Committee (MPC) indicated in a statement […]