Jameel Ahmed appointed SBP’s new governor on August 20, 2022Jameel Ahmad was given the position of governor of the State Bank of Pakistan (SBP), succeeding Dr. Murtaza Syed, who had been serving in the capacity of acting chief up until that moment. Jameel Ahmad took over the role from Dr. Murtaza Syed. A confirmation of Ahmad’s new post came in the form of a […]
18th P@SHA ICT Awards to recognize diverse capabilities: minister on August 19, 2022Federal Minister for IT & Telecommunication Syed Amin Ul Haque has acknowledged the fact that Annual ICT Awards have been playing a strong, catalytic role in driving innovation and growth for the past 17 years by recognizing youth leaders in the industry. He further added that the IT industry, spearheaded by Pakistan Software Houses Association […]
FPCCI chief wants swift oil price relief, rupee appreciation on August 18, 2022President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Irfan Iqbal Sheikh has called for the full transfer of the recent appreciation of the Pakistani Rupee and the subsequent decrease in oil costs to be passed on to consumers as soon as possible. He continued by saying that this was the only […]
Late-session buying boosts KSE-100 on August 18, 2022KSE-100 index increased by 0.55pc on Wednesday as late session purchasing helped the Pakistan Stock Exchange (PSX) recover. The KSE-100 index finished the day up 240.08 points, or 0.55pc, at 43,676.56 after a volatile trading session. The market initially surged when trading began, but early selling activity brought it back to a steady state. The […]
KSE-100 index down after a volatile session on August 17, 2022The Pakistan Stock Exchange (PSX) fell back into the red after two consecutive positive sessions, with the benchmark KSE-100 index falling by 0.42pc. The indicator fluctuated back and forth between negative and positive territory as a result of competing forces of purchasing and selling. The resulting drop of 185.34 points (or 0.42pc) brought the KSE-100 […]
July remittances down 8.6pc MoM to $2.52bn on August 17, 2022In July, the first month of the fiscal year 2022-23, the total amount of workers’ remittances that were received was $2.52b. This figure represented an 8.6pc decrease on a monthly basis. According to information that was made public on Tuesday by the State Bank of Pakistan (SBP), “Workers’ remittances recorded an inflow of US$2.5b during […]
KSE-100 increases 1.78pc, volume jumps to 542m on August 16, 2022The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) continued its surge for a second session on Monday, gaining 1.78pc to close over the 43,500-point level. This boosted market confidence. Reasons for the upswing include the strengthening of the rupee against the dollar, falling yields on Pakistan’s international bonds, and optimistic news from the […]
FPCCI sees Pakistan-Turkiye bilateral trade potential at $5b on August 16, 2022According to FPCCI President Irfan Iqbal Sheikh, the recent signing of the Pakistan-Turkey Trade in Goods Agreement will pave the road for the two countries to realise their $5b bilateral trade potential. Irfan Iqbal Sheikh has categorically rubbished the claims doing the rounds in some news articles that the private sector of Pakistan was not […]
SBP injects Rs743b into banking sector on August 15, 2022In an effort to encourage financial institutions to offer steady funding to the government, Pakistan’s central bank has infused over Rs743b into commercial and Shariah-compliant banks for up to 63 days at a return of 15.11pc. Commercial banks’ borrowing from the central bank, on the other hand, has been reduced drastically tobillions of rupees from […]
Investors optimistic as bulls continue to dominate on August 15, 2022IMF’s announcement of a Letter of Intent (LOI) helped spark a comeback on the Pakistan Stock Exchange last week, and the index ended the previous week with a gain of 761 points. As the week began, the market rose as investors applauded the favourable catalysts. The finance minister’s order to convene a conference to discuss […]