The Pakistan Stock Exchange (PSX) extended its bullish spell to a fourth straight session on Tuesday, helping the benchmark KSE 100 index breach another barrier of 117,000 thanks to optimism related to the IMF’s positive review of the economy. Topline Securities Ltd said the bulls dominated the session, propelling the benchmark index to an intraday high of 1,002 points before settling at 117,00
Despite a 1,000 basis points cut in the key interest rate to 12pc since the start of the current fiscal year, the Large-Scale Manufacturing (LSM) sector continued to show sluggish performance, with production contracting by 1.22 per cent in January compared to the same month last year, according to data released by the Pakistan Bureau of Statistics on Monday. The big industry production has see
Oil prices eased about one per cent on Tuesday as US President Donald Trump and Russian President Vladimir Putin discussed moves to end the three-year-old war in Ukraine, which could result in a possible easing of sanctions on Russian fuel exports. Earlier in the day, prices hit a two-week high on worries that instability in the Middle East could reduce oil supplies, and hopes that economic sti
Pakistan’s energy sector is being managed by inexperienced and irresponsible individuals, which is leading the country’s economy toward a disaster, deplored Hyderabad Chamber of Small Traders and Small Industry (HCSTSI) President Mohammad Saleem Memon on Tuesday. Raising concerns about the government’s inconsistent and contradictory energy policies, he said expensive independent power producer
The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has developed a comprehensive Charter of Economy to foster political consensus for an effective strategy to address challenges. The charter was presented to Finance Minister Muhammad Aurangzeb in a meeting on Tuesday, seeking to free the country from its economic calamities by prioritising its development and growth, particula