Business News
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Political uncertainty ahead of long march snaps rupee’s gaining streak
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[ad_1] A man counts dollar bills. — AFP KARACHI: The Pakistan rupee on Wednesday succumbed to import payment pressure and political uncertainty in the wake of the long march date announced by PTI chief Imran Khan. Pakistani rupee, after a brief winning streak for the local currency in the preceding three trading sessions in the…
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ADB releases $1.5bn to Pakistan, Dar announces
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[ad_1] Deposits are expected to boost social protection, promote food security, and create jobs in the wake of floods [ad_2] Source link
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Ahsan paints gloomy picture of economy | The Express Tribune
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[ad_1] ISLAMABAD: Planning Minister Ahsan Iqbal on Tuesday said that the country’s economy has been continuously contracting for the last four years and lamented the country’s abysmal development record during the previous government of PTI. Ahsan bemoaned that in the last four years, a large chunk of funding for the provinces weighed down the Public…
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Risk of default spikes to 13-year high of 52.8% | The Express Tribune
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[ad_1] KARACHI: Pakistan’s risk of default, measured by the 5-year credit default swap (CDS), on Tuesday spiked by 3.07 percentage points in a day and hit a 13-year high at 52.8%, suggesting foreign investors had lost their faith in the country. The CDS hovered around 5% to 6% before the Covid-19 outbreak in Pakistan in…
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Stocks retreat, get closer to 41,000 points | The Express Tribune
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[ad_1] KARACHI: Pakistan Stock Exchange (PSX) on Tuesday as market struggled to sustain gains in rollover week due to absence of major positive triggers, which pushed KSE-100 index close to 41,000-point mark. The index stayed in green zone in initial hours, touching intra-day high of 42,523.51 points. Bears soon took charge of the bourse, which…
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PM claims Pakistan ‘ripe’ for market innovation to secure investment
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[ad_1] Prime Minister Shahbaz Sharif addresses Future Investment Initiative Summit in Riyadh, Saudi Arabia on October 25, 2022. — PID/File ISLAMABAD: Prime Minister Shahbaz Sharif Tuesday said Pakistan was ripe for market innovation as the new generation of Pakistani entrepreneurs was shying away from traditional businesses and turning their focus and energies to disruptive innovations. “I…
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Gold price surges to Rs148,400 per tola in Pakistan on high demand
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[ad_1] A representational image of gold bars. — AFP/File KARACHI: Gold continued to shine as it once again surpassed the psychological threshold of Rs148,000 per tola amid high demand in the domestic market on Tuesday. As per the All Pakistan Sarafa Gems and Jewellers Association (APSGJA) the price of the precious metal rose by Rs700…
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Rupee maintains gaining streak, closes below 220 mark against US dollar
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[ad_1] A file image showing a currency dealer counting $100 notes — AFP/File KARACHI: The Pakistani rupee maintained its upward trajectory against the US dollar for the third consecutive session in the interbank market on Tuesday, falling below the psychological barrier of Rs220. According to data released by the State Bank of Pakistan, the local…
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Pakistan owes creditors Rs49,200 billion, says Dar | The Express Tribune
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[ad_1] ISLAMABAD: The total volume of debt on Pakistan has risen to Rs49,200 billion, the National Assembly was informed on Monday. Finance Minister Ishaq Dar said that on June 30, 2022 the domestic debt on the country was Rs31,000 billion while the external debt amounted to Rs18,160 billion. Earlier, a report of the finance ministry…
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Rupee continues to gain little ground | The Express Tribune
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[ad_1] KARACHI: tained its uptrend for the second consecutive working day on Monday as it gained 0.20% (Rs0.43) to close at Rs220.41 to a dollar in the inter-bank market. The rupee has regained a total value of Rs0.50 in the past two working days. The currency got extended support in the backdrop of much-anticipated Financial…
