Govt apologises for excessive loadshedding, blames it on reduced hydropower availability – Business
ISLAMABAD: The government on Wednesday apologised to power consumers for higher than promised “load management” arising out of lower water availability for power generation. In a statement, the Power Division said it was “apologising for the additional load management necessitated by reduced hydropower availability”. A spokesman for the Power Division also urged consumers to conserve […]
SBP opens formal banking to licensed virtual asset service providers
PVARA chairman terms it a foundational step in bringing virtual assets into the formal financial system of Pakistan State Bank of Pakistan. Photo: File The State Bank of Pakistan (SBP) has allowed banks to open accounts for licensed virtual asset service providers, overriding a 2018 ban, as the country moves to integrate digital assets into the […]
Finance Minister Aurangzeb meets with US commerce secretary, participates in IMF panel – Business
Finance Minister Muhammad Aurangzeb has met with the United States’ commerce secretary to discuss ways to boost bilateral economic partnership and briefed an International Monetary Fund (IMF) official about the Middle East conflict’s economic impact on Pakistan, the finance ministry said on Wednesday. Aurangzeb arrived in Washington on Monday to represent Pakistan at the World […]
PSX gains 4,300 points amid hopes of US-Iran talks reviving – Business
The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index gained over 4,300 points during intraday trade on Wednesday, sustaining its bullish momentum for a second consecutive day. The positive trend comes amid hopes that peace talks between the United States and Iran will proceed to a second round, with US President Donald Trump saying they are […]
PSX surges over 4,700 points as Saudi funds lift market sentiment
KARACHI: Buying momentum continued at the Pakistan Stock Exchange (PSX) on Wednesday, with investors reacting positively to the Kingdom of Saudi Arabia’s commitment of an additional $3 billion in deposits for Pakistan, boosting market sentiment early in the session. The benchmark KSE-100 Index, at 12:34pm, stood at 170,347.47 – up 4,712.63 points, or 2.85%. Trading commenced […]
Saudi Arabia pledges $3bn fresh deposit, extends $5bn facility through 2028 – Business
Saudi Arabia has pledged an additional $3 billion in deposits for Pakistan and has extended its existing $5 billion facility for a further three years, Finance Minister Muhammad Aurangzeb announced in Washington. He added that the existing $5 billion Saudi deposit would no longer be subject to the previous annual rollover arrangement and would instead […]
Govt announces more than 2 hours of daily loadshedding amid fuel constraints; K-Electric, Hesco excluded from plan – Business
ISLAMABAD: Amid fuel constraints, the government on Tuesday formally announced more than two hours of daily loadshedding “during peak hours” to prevent a sharp increase in electricity tariffs. However, K-Electric and Hyderabad Electric Supply Company (Hesco) are excluded from the loadshedding plan, the Power Division said. “The government has decided to suspend the electricity supply […]
IMF cuts 2026 global growth forecast to 3.1pc on Mideast war, warns world economy could be ‘thrown off course’ – Business
The International Monetary Fund (IMF) cut its 2026 global growth projection on Tuesday, warning that the world economy could be “thrown off course” by war in the Middle East — as the conflict roils commodity markets and sparks higher prices. The global economy is set to grow by 3.1 per cent this year, said the […]
IMF cuts 2026 global growth forecast on Mideast war – Business
The International Monetary Fund (IMF) cut its 2026 global growth projection on Tuesday, warning that the world economy could be “thrown off course” by war in the Middle East — as the conflict roils commodity markets and sparks higher prices. The global economy is set to grow by 3.1 per cent this year, said the […]
Alibaba-backed BNPL firm gets SECP licence
Koko Tech to tap in to consumer financing for youth, freelancers and small businesses ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has granted a licence to Koko Tech Pakistan (Private) Limited (KTPL) to operate a Buy Now Pay Later (BNPL) business in Pakistan, according to an official statement issued on Tuesday. KTPL is owned by Alibaba.com Holdings, […]