November 21, 2024
Business

Bulls push the KSE-100 index above 43,000 on optimistic cues

KARACHI: Stocks rose on Monday as a result of Saudi Arabia’s plans to renew its $3 billion deposit with Pakistan and renewed optimism for the International Monetary Fund (IMF) programme. The benchmark index KSE-100 of the Pakistan Stock Exchange (PSX) opened today’s session at 42,857.57 points, but it rose by 695.97 points, or 1.62%, to […]

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Business

In the tenth consecutive session, the rupee gains ground against the dollar

KARACHI: The Pakistani rupee strengthened against the US dollar for the tenth consecutive working day on Monday in the interbank market. The rupee gained another Rs2.49 after more than a week of gains, with the dollar trading at Rs213 after a depreciation during intraday activity in the interbank market at 10:50am. In the interbank market […]

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PAKISTAN

Army leader contacts Saudi and UAE authorities to discuss IMF scheme

General Qamar Javed Bajwa, the chief of the army staff, has spoken with Saudi Arabia’s and the United Arab Emirates leaders. According to reports, the loan package from the International Monetary Fund was discussed, and Pakistan is likely to see a change for the better. In order to reduce the possibility of a debt default, […]

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Business

Miftah Ismail claims that Pakistan is on the “correct track,” but he foresees more dark days

KARACHI: While stating that Pakistan was moving in the right way on Friday, Finance Minister Miftah Ismail could not completely rule out the potential that the nation may experience difficult times in the future. The finance minister spoke at a gathering at the city’s Pakistan Stock Exchange (PSX) and said: “Although we are moving in […]

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Business

Pakistan moves closer to the IMF programme, sending PSX soaring

KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) increased by about 900 points during Wednesday’s intraday trade as Islamabad fulfilled the final need to restart the International Monetary Fund’s (IMF) loan programme. By 1:10 p.m., the benchmark KSE-100 index had risen by 895.43 points to reach 41,087.04 points. It had started the […]

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Business

The IMF plans a meeting as Pakistan completes its previous task after raising the oil tariff

The International Monetary Fund (IMF) said on Tuesday that Pakistan has fulfilled the final prerequisite for the combined seventh and eighth reviews. The IMF further stated that a board meeting is tentatively set for late August once enough financial assurances are secured. The most recent move was confirmed in a statement by Esther Perez Ruiz, […]

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Business

Financial Ministry, SBP: Economic issues are “temporary, being firmly addressed”

ISLAMABAD: In a joint statement, the Finance Ministry and State Bank of Pakistan (SBP) guaranteed that the nation’s issues were transient and that they were being aggressively addressed. According to the joint statement, Pakistan’s foreign exchange reserves have decreased since February as a result of outflows of foreign currency outpacing inflows. On the other hand, […]

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Business

PSX weekly review: In a volatile rollover week, stocks only manage a little rise

KARACHI: The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index fluctuated between the red and green, making trading there turbulent for most of the sessions during the previous futures rollover week. It increased just 73 points, or 0.18 percent, to close at 40,150 points, maintaining its previous level. The stock market started the week off poorly […]

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