Shares at PSX gain 300 points day before elections – Business
Shares at the Pakistan Stock Exchange gained 300 points on Wednesday ahead of tomorrow’s general elections. According to the PSX website, the KSE-100 index gained 344.86 points, or 0.54 per cent, to close at 64,143.87 from the previous close of 63,799.01. Mohammed Sohail, chief executive of Topline Securities, said the market “rallied as it expected […]
Ogra seeks to raise gas prices again to meet IMF condition – Business
ISLAMABAD: In order to meet the IMF’s mid-February deadline, the Oil and Gas Regulatory Authority (Ogra) made significant concessions to the gas utilities — SNGPL and SSGC — to extract another Rs100 billion from consumers over the next four months through an increase of 9 to 35 per cent in tariffs. The decision comes as […]
Federal cabinet approves restructuring of national carrier – Business
With just two days to go for general elections, the federal cabinet on Tuesday approved the restructuring of national flag carrier Pakistan International Airlines (PIA), state-run Radio Pakistan reported. The development comes after the Election Commission of Pakistan (ECP) asked the government to “refrain from taking any further steps including the signing of an agreement” […]
Stocks gain nearly 800 points on circular debt settlement reports – Business
Bulls dominated the trading floor of the Pakistan Stock Exchange (PSX) on Tuesday as shares gained nearly 800 points due to activity reported in the energy sector. According to the PSX website, the KSE-100 index gained 659.15 points to stand at 63,662.06 at 1:42pm, up 1.05 per cent from the previous close of 63,002.91. Continuing […]
Stocks gain over 750 points on circular debt settlement reports – Business
Bulls dominated the trade floor on Tuesday as shares at the Pakistan Stock Exchange (PSX) gained over 750 points due to activity reported in the energy sector. At 1:42pm, the KSE-100 index gained 659.15 points, or 1.05 per cent, to stand at 63,662.06 from the previous close of 63,002.91. The index closed at 63,799.01, up […]
Shares at PSX gain over 750 points in intraday trade – Business
Bulls dominated the trade floor on Tuesday as shares at the Pakistan Stock Exchange (PSX) gained over 750 points due to activity reported in the energy sector. At 1:42pm, the KSE-100 index gained 659.15 points, or 1.05 per cent, to stand at 63,662.06 from the previous close of 63,002.91. The index closed at 63,799.01, up […]
Shares at PSX gain over 600 points in intraday trade – Business
Bulls dominated the trade floor on Tuesday as shares at the Pakistan Stock Exchange (PSX) gained over 600 points during intraday trade. At 1:42pm, the KSE-100 index gained 659.15 points, or 1.05 per cent, to stand at 63,662.06 from the previous close of 63,002.91. Mohammed Sohail, chief executive of Topline Securities, attributed the bullish momentum […]
Economists pilloried for getting forecasts wrong – Business
PARIS: Economists are taking flak after missing the mark on inflation, failing to anticipate disruptions in global supply chains and forecasting a recession that has not materialised. The Covid-19 pandemic, Russia’s war in Ukraine and more recently the Middle East conflict have made it tougher for experts to see clearly into their economic crystal balls. […]
OECD ups world growth forecast – Business
PARIS: The OECD raised its 2024 world economic growth forecast on Monday but warned that the Middle East conflict posed a risk, with disruptions in Red Sea shipping threatening to increase consumer prices. The OECD now expects a 2.9 per cent expansion, up from 2.7pc in its previous forecast in November, as it sharply lifted […]
Developing marginal lands – Business
Out of 80 million hectares (mha) of land in Pakistan, around 41 mha is marginal or arid. Marginal land has little or no agricultural or industrial value with minimal potential for profit because of its poor soil or other undesirable characteristics. This type of land is often located at the edge of deserts or other […]