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Gold prices in the international market on Wednesday hit a fresh all-time high amid the Israel-Lebanon conflict, a weaker dollar and a decline in US bond yields. In India, the yellow metal touched a record Rs 76,000 per 10 grams. In the international market, gold prices approached the $2,700-an-ounce level to hit $2,690. “Gold witnessed […]
New Delhi: As the tragic death of 26 year old Anna Sebastian, an Ernst & Young (EY) employee sparks widespread outrage, new details have emerged. Senior government official who spoke to Reuters revealed that the company’s Pune office, operating since 2007 lacked the required labor welfare permit. This permit which regulates work hours was missing, […]
The Executive Board of the International Monetary Fund (IMF) will convene today in Washington to approve a critical $7 billion loan package for Pakistan, aiming to stabilize the country’s fragile economy. This new bailout program, spanning 37 months, marks Pakistan’s 24th IMF assistance package. With its approval, Pakistan will also be eligible to receive funds […]
Stocks scaled a new peak on Friday, with the benchmark index surpassing the 82,000 mark during intraday trade, as forecasts of declining inflation and hopes of further monetary loosening by the central bank spurred a buying spree, traders said. The KSE-100 index jumped by 615.16 points, or 0.76%, to reach 82,074.44 from its previous close […]
The Pakistan Stock Exchange (PSX) witnessed a significant upward trend today, with the benchmark index crossing the 81,000-point mark for the first time in over two months. The market opened with a strong bullish sentiment, driven by investor confidence, and continued to gain momentum throughout the trading session. As of midday trading, the KSE-100 Index […]
The Pakistan Stock Exchange (PSX) opened with a significant surge on Friday, gaining 999 points, pushing the KSE-100 index to surpass the 80,000-point mark, a level restored after recent economic developments. The index reached 80,016 points at the start of trading on Friday. The bullish trend is largely attributed to the anticipated finalization of a […]
NEW DELHI: India’s August retail inflation remained below the central bank’s target of 4% for the second consecutive month, but vegetable prices continued to soar, dampening hopes of a dovish stance in the next monetary policy meeting. Annual retail inflation was at 3.65% in August, higher than the revised 3.60% in July and economists’ forecast of 3.5%. India’s […]
ISLAMABAD: The International Monetary Fund (IMF) has confirmed that its Executive Board will meet on September 25 to discuss the approval of Pakistan’s $7 billion Extended Fund Facility (EFF). The loan is crucial for stabilising Pakistan’s economy, which has been grappling with rising inflation and dwindling reserves. IMF spokesperson Julie Kozack announced the meeting during […]
1726140338-0/Untitled-design-(42)1726140338-0.jpg?w=250&resize=250,150&ssl=1 "State Bank of Pakistan slashes policy rate by 200 BPS")
The State Bank of Pakistan (SBP) reduced its policy rate by 200 basis points to 17.5% on Thursday, as headline and core inflation saw a sharper-than-expected decline over the last two months. The rate cut will be effective from September 13, 2024. The Monetary Policy Committee (MPC) of the SBP attributed this decision to falling […]
