Bears take control as PSX drops by more than 1,100 points
Stock brokers watching latest share price at Pakistan Stock Exchange. — APP/File KARACHI: Bears took over the Pakistan Stock Exchange (PSX) on Friday as the market plunged by more than 1,100 points due to the concerns raised over the current political situation. The benchmark KSE-100 index fell by 1,168.83 points or 1.43% during the intraday trading […]
IMF urges BOJ to consider ending yield curve control | The Express Tribune
PHOTO: FILE TOKYO: The Bank of Japan (BOJ) should consider ending its yield curve control and massive asset purchases now, then gradually raise short-term interest rates, the International Monetary Fund (IMF) said on Friday, as markets ramp up bets on a near-term turn in the central bank’s ultra-easy policy. As Japan’s economy continues to recover, […]
Bulls snatch control as stocks rally | The Express Tribune
KARACHI: Pakistan Stock Exchange (PSX) on Friday enjoyed a handsome rally amid heavy trading as it crossed 66,000 points on the back of investor hopes ahead of International Monetary Fund’s (IMF) board meeting for loan approval and an increase in the State Bank’s foreign currency reserves. In the morning, when trading commenced, the market lost […]
Minister urges strict price control measures | The Express Tribune
ISLAMABAD: Minister for Planning, Development, and Special Initiatives, Muhammad Sami Saeed, chaired a meeting of the National Price Monitoring Committee (NPMC) on Monday to evaluate the prices of essential commodities. During the meeting, he stressed the importance of maintaining stable food prices and providing relief to the general public. The minister expressed a zero-tolerance policy […]
AIIB internal review throws out CCP’s control allegations
A man walks past the logo of the Asian Infrastructure Investment Bank (AIIB) at the headquarters in Beijing on June 15, 2023. — AFP An internal review of the Asian Infrastructure Investment Bank (AIIB) dismissed the claims of a former employee alleging that the Chinese Communist Party (CCP) had control over the bank. Last month, […]
Further rate hike unlikely to control inflation | The Express Tribune
KARACHI: Pakistan’s economy has slowed down significantly partly due to a persistent hike in the key policy rate to a record high at 20%. The rate hike has lately become “ineffective” and a further rise will only aggravate the economic woes. The policy rate is a tool available with the central bank to control inflation […]
PKR plummets to 240 against USD after govt ends exchange control | The Express Tribune
KARACHI: Pakistani currency nosedived by Rs24.11 (or 9.45%) to an all-time low at Rs255 against the US dollar in the interbank market at around 1 pm on Thursday. The latest fall comes as the government ended its control over the rupee-dollar exchange rate as part of the International Monetary Fund (IMF) condition. The local currency […]
Ishaq Dar tasked to control dollar, bring down inflation
PML-N leader Ishaq Dar before departure to Pakistan. LONDON: PML-N supremo Nawaz Sharif has tasked his close aide and party’s finance guru, Ishaq Dar, to control the rising dollar rate and bring down inflation that has affected the government badly. The former finance minister has departed from London for Islamabad after remaining in exile for […]
Very difficult challenge for govt to control loadshedding crisis: PM Shehbaz
Prime Minister Shehbaz Sharif address a high-level government meeting on loadshedding at the PM’s Office in Islamabad, on July 1, 2022. — YouTube/PTVNews ISLAMABAD: Slamming the PTI for not securing cheap gas during its tenure, Prime Minister Shahbaz Sharif Friday said that it was a “very, very difficult” challenge faced by the coalition government in […]
PM nod sought for change in oil firm control | The Express Tribune
ISLAMABAD: The Petroleum Division has sent a summary to Prime Minister Shehbaz Sharif, seeking his endorsement for handing over control of Eni Pakistan Limited to Prime International Oil and Gas Company Limited (PIOGCL). The division sought approval for the change in effective control from Eni Ulx Limited, Eni UK Limited and Eni Oil Holdings BV, […]