After days of buying momentum, selling returned to the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index shedding over 2,600 points as investors adopted a cautious stance amid rising political noise during trading on Tuesday. At 1:35pm, the benchmark index was hovering at 158,932.16, down 2,606.24 points, or 1.61%. Selling pressure was observed in key sectors including automobi
Fauji Fertilizer Company Limited (FFCL) has announced plans to acquire the remaining 25% shareholding in its associated company, FFBL Power Company Limited (FPCL), from its parent entity, Fauji Foundation, via a share-swap arrangement. FFCL disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Tuesday. “We wish to inform the exchange of the decision of the Board of
The Pakistani rupee strengthened against the US dollar, appreciating 0.09% during the opening hours of trading in the inter-bank market on Tuesday. At 10am, the currency was hovering at 280.56, a gain of Re0.25 against the greenback. On Monday, the local unit closed at 280.81. Globally, the safe-haven yen hit its lowest since February on Tuesday while riskier currencies were firm against
Pakistan has set an ambitious target of achieving $200 million in meat exports to Malaysia, as Commerce Minister Jam Kamal Khan directed authorities to fast-track efforts to strengthen the country’s meat export sector. Jam gave the directives while chairing the 3rd Meeting of the Committee on Pakistan-Malaysia Cooperation on meat export from Pakistan, emphasising the need to strengthen Pakistan
Pace (Pakistan) Limited (PACE) has announced that its Board of Directors has approved plans to purchase a plot in Dubai, UAE, for the development of a commercial project, marking the company’s expansion into the international real estate market. The listed company, a part of First Capital Group, which owns and operates a diversified business portfolio, shared the development via a notice to the