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…
KOKO TECH to tap into 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…
A vessel at the Strait of Hormuz, off the coast of Oman’s Musandam province. PHOTO: REUTERS A giant Iranian crude carrier entered Iranian waters after transiting the Strait of Hormuz despite US blockade threats, Iranian media claimed on Wednesday morning. According to Iran’s Fars News Agency, the supertanker, which it said is capable of carrying…
Envoy says veto powers should either be abolished or their use ‘severely restricted’ Pakistan’s Permanent Representative to the UN, Ambassador Asim Iftikhar Ahmad speaking at the UN. PHOTO: X Pakistan on Wednesday called for the abolition or severe restriction of the veto power in the United Nations Security Council (UNSC), while strongly opposing any expansion…
KARACHI: Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry has urged rice exporters to set an ambitious target of $10 billion in exports, assuring them of full support from his ministry and port authorities during a visit to the Rice Exporters Association of Pakistan (REAP), according to an official statement issued on Tuesday. The…
Iran has attacked Saudi petrochemical complex in Jubail, Fars news agency reports. SCREENGRAB Iran secretly acquired a Chinese spy satellite in late 2024 that enabled it to target United States military bases across the Middle East during the recent war, the Financial Times reported on Wednesday. The TEE-01B satellite — built and launched by Chinese…
The government has agreed to the need for a mini-budget if revenues fall short of expectations by end-December 2025, according to the IMF. Photo: file ISLAMABAD: The International Monetary Fund (IMF) on Tuesday lowered Pakistan’s economic growth forecast to 3.5% and raised its inflation projection to 8.4% for the next fiscal year due to the…
Israeli soldiers operate in the Gaza Strip amid the ongoing conflict between Israel and the Palestinian group Hamas, in this undated handout picture released on February 24, 2024. Israel Defense Forces/Handout via REUTERS Nine people were killed, and three others were injured, on Wednesday in Israeli airstrikes targeting multiple areas in southern Lebanon, according to…
CM directed the committee to avoid unnecessary appointments and focus on promoting quality education Balochistan Chief Minister Mir Sarfraz Bugti. Photo: APP/ File QUETTA: Balochistan Chief Minister Mir Sarfraz Bugti has emphasised that universities must not be reduced to mere recruitment factories but should serve as genuine centers of knowledge, research, and innovation. He made…
Aurangzeb says this would help reinforce foreign exchange reserves, strengthen the country’s external account Finance Minister Muhammad Aurangzeb along with the Governor, State Bank of Pakistan and Pakistan’s Ambassador to the United States, held a detailed meeting with Saudi Finance Minister Mohammed bin Abdullah Al-Jadaan. PHOTO: MINISTRY OF FINANCE ON X The Kingdom of Saudi…