KARACHI: Gold prices in Pakistan declined on Friday, diverging from gains in the international market, where the precious metal edged higher but remained on track for its first weekly loss in five weeks amid persistent inflationary concerns and geopolitical uncertainty. In the local market, the price of gold per tola fell by Rs2,900 to settle…
KARACHI: Gold and silver prices rebounded in both international and local markets on Saturday, snapping a five-day losing streak as global bullion rates shifted back into positive territory. In the international bullion market, the price of gold per ounce rose by $23, reaching $4,708. Consequently, the impact was felt in local markets across Pakistan. According to…
IBAN verification through SECP-notified entities will be accepted as a valid proof of identity under new framework ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has proposed major amendments to the Anti-money Laundering, Combating the Financing of Terrorism and Countering Proliferation Financing (AML/CFT/CPF) Regulations, 2020 to strengthen anti-money laundering safeguards while enabling fully digital…
ISLAMABAD: Pakistan has agreed with the International Monetary Fund (IMF) to close 70 bank accounts of government departments and transfer roughly Rs300 billion in balances to the national kitty, a move that could help consolidate public funds and reduce the cost of debt. Pakistan has also committed to reducing debt refinancing risks by increasing the…
Hussain outlines vision for climate-smart agriculture, regional cooperation at FAO conference ISLAMABAD: Pakistan has reaffirmed its strong commitment to advancing resilient, inclusive and sustainable agrifood systems during the 38th Ministerial Session of the Food and Agriculture Organisation (FAO), according to a statement issued on Friday. Federal Minister for National Food Security and Research Rana Tanveer…
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…