Inflation hits double digits for first time in 21 months – Business
• CPI rises nearly 11pc year-on-year in April• Transport costs, perishable food prices jump by over 15pc ISLAMABAD: Consumer inflation returned to double digits for the first time in 21 months, with prices rising by nearly 11 per cent year-on-year in April, driven by sharp increases in transport costs and essential food items, official data […]
Asia shares find hope in tech resilience, oil off peak
Asia rallies as oil pulls back from peak, tech earnings lift spirits and Japan steadies yen Asian shares rallied in relief on Friday as oil prices came off the boil and upbeat company earnings pulled investors into tech stocks, while Japan’s first yen-buying intervention in two years steadied the battered currency. Apple amplified the cheer […]
PSX plunges over 4,700 points as bears maintain control – Business
Bears continued to dominate the trading floor at the Pakistan Stock Exchange (PSX) on Thursday as the KSE-100 plunged by over 4,700 points during intraday trade. KSE-100 declined by 4,786.92 points or 2.89 per cent to stand at 161,036.95 points from the previous close of 165,823.87 points. PSX remained under selling pressure for a third […]
KSE-100 Index tumbles over 1,300 points amid selling pressure
Market activity remains relatively strong, with volumes crossing 256 million shares Shares of 345 companies were traded. At the end of the day, 75 stocks closed higher, 254 declined and 16 remained unchanged. PHOTO: FILE KARACHI: The Pakistan Stock Exchange (PSX) came under selling pressure on Wednesday, erasing early gains as investors turned cautious. The […]
PM meets European Union business delegation – Pakistan
ISLAMABAD: A high-level delegation of the European Union and business representatives from prominent European companies on Tuesday called on Prime Minister Shehbaz Sharif and lauded Pakistan’s role in de-escalation efforts in the Middle East, while also vowing to enhance trade ties with Islamabad. According to the Prime Minister’s Office, the meeting was held at the […]
Energy prices expected to surge 24pc, reaching highest level since 2022 Russia-Ukraine war: World Bank assessment – Business
ISLAMABAD: Energy prices are projected to surge by 24 per cent this year to their highest level since Russia’s invasion of Ukraine in 2022, as the war in the Middle East sends a severe shock through global commodity markets, the World Bank Group said in its latest Commodity Markets Outlook. Overall, commodity prices are forecast to […]
UAE leaves Opec and Opec+ in huge blow to global oil producers’ group – Business
The United Arab Emirates (UAE) said on Tuesday it quit Opec and Opec+, dealing a heavy blow to the oil exporting groups and their de facto leader, Saudi Arabia, at a time when the war on iran has caused a historic energy shock and unsettled the global economy. The stunning loss of the UAE, a […]
Oil prices hit $110 while stocks waver on Iran impasse
By helping the world reduce oil prices from the $150-$200 range and saving hundreds of billions in import bills and high interest expense, Pakistan has earned its seat at the table. photo: REUTERS Stocks held their ground and oil rose on Tuesday as investors weighed the stalemate in the Iran conflict, while the yen was […]
Industry leaders warn interest rate hike to hit exports, economic growth – Business
KARACHI: Trade and industry leaders on Monday criticised the State Bank of Pakistan (SBP) for raising the interest rate by 100 basis points to 11.5 per cent, calling the move ill-timed and unfortunate. They argued that it came at a delicate stage when the country was recovering and stabilising amid the Middle East conflict. They […]
PVARA says any deals, pilots involving virtual assets require prior authorisation – Business
The Pakistan Virtual Assets Regulatory Authority (PVARA) said on Monday that any agreement or pilot announced involving virtual assets required prior authorisation. Earlier this month, the State Bank of Pakistan (SBP) had announced a significant policy change, legalising and encouraging the use of virtual assets through the enactment of the Virtual Assets Act 2026. Under […]