The Pakistan Stock Exchange (PSX) rallied to a historic high this week as investor sentiment turned bullish on the back of a newly signed trade agreement with the United States, better-than-expected fiscal performance, and a resilient corporate earnings season. The benchmark KSE-100 index gained 1.3 per cent week-on-week, closing at a record 141,035 points, up 1,828 points from the previous wee
The price of electricity is expected to increase by one-fourth over the next eight years, according to a power division forecast, after a 50per cent increase in the past three years due to massive currency devaluation. The average tariff is projected at Rs29.70 per unit by 2034, up by Rs5.70 from the existing rate of Rs24, said the power division in a working paper shared with stakeholders in t
Iran on Sunday expressed willingness to join the Silk Road initiative with Pakistan and China to get maximum benefits from the regional connectivity. Pakistan and Iran vowed to further expand their land and rail route linkages. The two sides made these commitments when Iranian Minister for Roads and Urban Development, Farzaneh Sadegh, who accompanied the Iranian president on the official vis
Pakistan and Iran on Sunday agreed that peace and prosperity in their border regions hinged on effectively combating terrorism, as both countries renewed their commitment to increase annual bilateral trade to $10 billion. The consensus was reached during a bilateral meeting at the Prime Minister’s House in Islamabad and later emphasised at a joint press conference by Prime Minister Shehbaz Sh
The Voluntary Eight (V8) — Saudi Arabia, the UAE, Oman, Kuwait, Iraq, Kazakhstan, Algeria and Russia — announced on Sunday they would increase oil production by 547,000 barrels a day in a move that analysts say aims to regain market share amid resilient crude prices. As currently they produce about 41 to 42 million barrels a day, the increase would be about 1.5 per cent, though analysts believe