Tribune
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Stocks under pressure over rupee slide | The Express Tribune
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[ad_1] KARACHI: Pakistan Stock Exchange (PSX) landed in a bearish territory as investor pessimism enveloped the market over the latest round of rupee depreciation and a number of other discouraging developments, putting the benchmark KSE-100 index under constant pressure. The trading week commenced on a negative note when it slumped over 700 points following President…
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PSX sheds some value in range-bound trading | The Express Tribune
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[ad_1] KARACHI: A range-bound session was observed at the Pakistan Stock Exchange (PSX) on Friday as the falling Pakistani rupee and a bleak economic outlook weighed heavily on investors’ sentiment. Despite the start of trading on a positive note, when the KSE-100 index reached an intra-day high of 47,853.55 points, in line with previous day’s…
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Body for economic revival formed | The Express Tribune
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[ad_1] ISLAMABAD: Interim Prime Minister Anwaarul Haq Kakar has approved the constitution of a cabinet committee for economic revival, giving it the mandate to suggest measures for long-term economic growth and offer stimulus packages to the private sector. The PM gave the go-ahead for notifying an 11-member committee for finding solutions to Pakistan’s economic ills…
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Prominent services firms to take part in Beijing fair | The Express Tribune
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[ad_1] BEIJING: Pakistan’s prominent service-oriented companies will participate in the 2023 China International Fair for Trade in Services (CIFTIS), scheduled to take place in Beijing from September 2 to 6, to showcase their accomplishments. “For the first time, Pakistan’s embassy in Beijing have invited the National Logistics Cell (NLC), Pakistan International Airlines (PIA) and National…
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PM sets up panel for law review | The Express Tribune
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[ad_1] ISLAMABAD: In a significant move, interim Prime Minister Anwaarul Haq Kakar has established a cabinet committee tasked with crafting laws and suggesting revisions to current legislation. This committee will also determine the alignment of any law with the jurisdiction of the parliament. The Cabinet Division on Thursday notified the constitution of the Cabinet Committee…
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Forex reserves dip $125m to $7.93b | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the State Bank of Pakistan (SBP) have decreased by 1.5% on a week-on-week basis, reaching $7.93 billion, according to data released by the central bank on Thursday. By the end of the week on August 18, 2023, the central bank’s foreign currency reserves were recorded at $7,930.5…
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Rupee reaches new low after crossing 300 against USD | The Express Tribune
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[ad_1] The Pakistani rupee reached a record low against the US dollar on Thursday after the greenback was traded at Rs300.26 in the interbank market. The open market also saw an increase in the dollar’s value after it gained Rs2 and was being traded at around Rs314/$. The difference between exchange rates in the two…
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Provinces asked to pay dues of federal depts | The Express Tribune
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[ad_1] BAHAWALPUR: Federal Ombudsman Ejaz Ahmed Qureshi has urged provincial governments to pay outstanding dues to the federal government agencies and departments so that they could address their financial constraints. He was talking to media after presiding over a meeting of the heads of federal government agencies and departments including Wapda, Sui gas companies, postal…
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Stocks remain flat in range-bound trading | The Express Tribune
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[ad_1] KARACHI: Pakistan Stock Exchange (PSX) endured a rangebound session on Wednesday, influenced by the rupee’s continuous fluctuation, weak corporate earnings and a rising power tariff. In the morning, the trading session began on a promising note reaching an intra-day high of 47,588.23 points, but soon it began stumbling over investor concerns about the poor…
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PM vows support for business community | The Express Tribune
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[ad_1] KARACHI: Caretaker Prime Minister Anwaarul Haq Kakar on Wednesday assured businessmen that the interim government would make maximum efforts to address the challenges faced by the business community of Karachi. The premier, while talking to businessmen associated with small and medium enterprises (SMEs), stressed that keeping in view the limited timeframe and mandate, the…
