Business News
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US Election Results 2024: Donald Trump Wins Second Non-Consecutive Term
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After a bitter and highly contested campaign, US voters have chosen Republican presidential nominee Donald Trump for a second non-consecutive term in the Oval Office. The election has sparked national debate, with Kamala Harris, the Democratic nominee, trailing behind in the electoral college race. Trump Secures Swing States and Electoral Votes As the dust settles…
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Temu, Shein gear up for legal battle in UK
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[ad_1] Illustration shows Shein and Temu logos. — Reuters Online fast-fashion platforms Shein and Temu are gearing up for a 2026 trial at London’s High Court, with the rivals trading allegations of copyright infringement and anti-competitive behaviour in competing lawsuits. Shein sued Temu in Britain last year, accusing Whaleco UK Limited — whose ultimate parent…
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Former SECP chief Farrukh H Sabzwari appointed CEO of PSX
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[ad_1] Farrukh H Sabzwari addresses an event at Central Depository Company of Pakistan in this undated photo. — CDC/File Pakistan Stock Exchange (PSX) has appointed veteran investment banker Farrukh H Sabzwari as its Chief Executive Officer (CEO) for a three-year term after the approval by Securities and Exchange Commission of Pakistan (SECP), a bourse filing…
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SBP slashes policy rate by 250bps, extending its hawkish monetary stance for 4th time
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[ad_1] The State Bank of Pakistan’s (SBP) old building in Karachi. — AFP/File The State Bank of Pakistan (SBP) on Monday eased its monetary policy for fourth time in a row, lowering the key interest rate by 250 basis points to 15% as single-digit inflation persisted through October. Analysts as well independent economists widely believed…
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Market rallies as investors anticipate SBP rate cut
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[ad_1] Pakistani stockbrokers watch the latest share prices on a digital board during a trading session at the PSX in Karachi on May 28, 2013. — AFP The Pakistan Stock Exchange (PSX) rallied strongly as the beginning of the week, with the KSE-100 index surging by over 1,000 points on investor optimism surrounding an anticipated…
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Miftah Ismail says provinces should serve their people, not run airlines
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[ad_1] Former finance minister Miftah Ismail addressing a press conference in this undated picture. — AFP/File ISLAMABAD: Coming down hard on the Khyber Pakhtunkhwa and Punjab governments for showing interest in acquiring the loss-making Pakistan International Airlines (PIA), Former finance minister Miftah Ismail on Sunday stressed that the provinces should focus on serving the public…
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CPI stats trigger off over 1,800-point rally at PSX ahead of SBP meeting
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[ad_1] A stock broker looks at a computer during a trading session at the Pakistan Stock Exchange (PSX) in Karachi on July 31, 2023. — AFP Stocks rallied on Friday, spurred by October’s mild inflation data, strengthening expectations for the central bank to extend its hawkish monetary policy in the upcoming November 4 meeting, a…
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Inflation up at 7.2% in Oct as SBP gets ready for policy rate decision
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[ad_1] People look at handbags on display outside shops in a market, ahead of Eid al-Fitr celebrations in Karachi, Pakistan April 19, 2023. — Reuters Pakistan’s annual inflation edged up to 7.2% in October 2024, registering an increase from 6.9% in September but marking a significant decrease from 26.8% in October 2023, data from the…
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No further extension in deadline to file tax return: FBR
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[ad_1] An undated image of a cashier counting Rs500 notes. — AFP/File ISLAMABAD: A spokesperson of the Federal Board of Revenue (FBR) stated on Friday there was no possibility of a further extension in the deadline to file income tax returns after it expired on October 31. The FBR had extended the deadline twice —…
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Govt increases petrol price by Rs1.35
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[ad_1] Fuel station worker filling petrol in vehicle, at Fuel Station in Karachi on Tuesday, April 16, 2024. — PPI ISLAMABAD: The federal government on Thursday increased the price of petrol by Rs1.35 for the next fortnight in line with “price variation” in the international market. The new fuel prices came into effect from November…
