The stock market continued its upward trend in the outgoing week as China agreed to refinance a $2.24 billion loan while the government engaged in talks with China over the rolling over of its $2bn deposits. Arif Habib Ltd said the shrinking of the trade deficit by 21.4 per cent on an annual basis to $9.2bn helped the index sustain momentum during the outgoing week. Furthermore, the rupee ap
The stock market witnessed a mixed trading session on Friday as investors chose to hold back during the opening hours. Arif Habib Ltd said the index initially dropped 168.46 points after Moody’s Investor Services lowered Pakistan’s sovereign credit rating by one notch. Investors opted for booking profits after trading resumed in the green zone during the second half, leading the benchmark to c
Technology firm Supernet Ltd told shareholders on Friday it’s decided to migrate to the main board of the Pakistan Stock Exchange (PSX) from the Growth Enterprise Market (GEM) board, which is a separate PSX counter reserved for smaller and riskier companies. Only three firms are currently listed on the GEM board that the PSX rolled out last year to help start-ups and growing entities raise capi
The Opec+ organisation’s decision this week to cut oil production despite stiff US opposition has further strained already tense relations between President Joe Biden’s White House and the Saudi Arabia’s royal family, once one of Washington’s staunchest Middle East allies, according to interviews with about a dozen government officials and experts in Washington and the Gulf. The White House pus
The recent floods starting in the month of August have exposed the fragility of Pakistan’s telecommunications infrastructure and the weaknesses of broader structural environment within which mobile networks operate, according to a report by Islamabad-based research house Tabadlab. The report, authored Naeha Rashid, Maira Sheikh and Alina Khan, argues that without immediate intervention, the ind