Overall market participation was strong, as 1,066 million shares were traded with a total value of Rs. 49 billion. KEL led the volume chart, with 195.8 million shares..Photo: Express KARACHI: Stocks staged a strong recovery on Friday as the benchmark KSE-100 index rebounded from early losses, gaining around 1,500 points, with investor sentiment lifted by…
SBP faces dilemma as supply-side pressures clash with need to protect 3.89% GDP growth KARACHI: Brokerage houses have suggested ahead of the State Bank of Pakistan’s (SBP) upcoming Monetary Policy Committee (MPC) meeting that a policy rate hike would be counterproductive and lead to overcorrection. In its latest preview, Arif Habib Limited (AHL) argued that…
A worker holds a fuel nozzle to fills fuel in a car at petrol station in Karachi on September 16, 2023. Photo: REUTERS/ File Prime Minister Shehbaz Sharif on Friday jacked up prices of both high-speed diesel (HSD) and petrol by Rs26.77 per litre despite no increase being required in the rates of petrol. The…
ISLAMABAD: Pakistan has agreed with the International Monetary Fund (IMF) to walk a fiscally tight path and show a primary budget surplus of Rs2.8 trillion in the new budget and increase net foreign exchange reserves by $5.6 billion to end the vicious cycle of negative reserves, according to official sources. To offset the impacts of…
At current prices, the looted gold is worth around $70 million. PHOTO: PIXABAY Gold and silver prices witnessed a continued decline in both international and local markets on Friday, tracking a downward trend in global bullion rates. In the international market, the price of gold per ounce dropped by $29, settling at $4,685. This global…
The Wall Street sign is pictured at the New York Stock Exchange in the Manhattan borough of New York City, New York, U.S., March 9, 2020. REUTERS The traditional relationships between global financial assets have broken down since the outbreak of the Middle East conflict, leaving investors navigating markets with what analysts describe as a…
ISLAMABAD: Despite challenges arising from the US-Iran conflict, rising oil prices, increased freight and insurance costs and a global risk-off trend, Pakistan’s capital market remained resilient. In this regard, the Securities and Exchange Commission of Pakistan (SECP) has released its quarterly review report for the third quarter of fiscal year 2025-26. According to the SECP,…
$2.45 billion had been repaid last week, bringing the total repayment to $3.45 billion Pakistan has completed the repayment of $3.45 billion in deposits to the United Arab Emirates (UAE) after returning a final tranche of $1 billion, the State Bank of Pakistan (SBP) announced on Friday. In a post on X, the SBP announced that…
The well is flowing through a 32/64-inch choke at a pressure of 3,585 pounds per square inch ISLAMABAD: Oil and Gas Development Company (OGDC) on Thursday announced the revival of gas production from Jand-1 well, located in Attock district of Punjab province, marking a significant operational achievement. According to a statement issued by the company,…
State Bank of Pakistan. Photo: File KARACHI: The State Bank of Pakistan’s (SBP) foreign exchange reserves increased by $18 million during the week ended April 17, 2026, reaching $15.097 billion, according to official data released on Thursday. Overall, the country’s total liquid foreign reserves stood at $20.628 billion. Breakdown shows the SBP-held reserves at $15.097…