The recent reduction in the State Bank of Pakistan’s policy rate to 11 per cent, nearly half of what it was in July 2024, has failed to generate enthusiasm among the country’s traders and industrialists. While the rate cut is seen as a step towards easing the cost of doing business, many in the sector argue that it remains uncompetitive compared to regional rates and does little to address the
China wants the United States to ease export controls on chips critical for artificial intelligence as part of a trade deal before a possible summit between presidents Donald Trump and Xi Jinping, the Financial Times reported on Sunday. Chinese officials have told experts in Washington that Beijing wants the Trump administration to relax export restrictions on high-bandwidth memory (HBM) chips,
Pakistan has a significant opportunity to convert its debt into climate investments through a new “Debt Swap Hub” launching in 2026, provided the country prepares by building institutional capacity and identifying high-impact projects, United Nations Department of Economic Affairs (DESA) senior official said on Saturday. The United Nations and its partners will roll out the dedicated hub for c
President Asif Ali Zardari on Saturday appointed Maqbool Ahmad Gondal, a BS-22 officer of the Pakistan Audit and Accounts Group who had been serving as the Controller General of Accounts, as the new Auditor General of Pakistan (AGP). Talking to Dawn, Mr Gondal confirmed his appointment and said he would assume the post next month, upon the completion of the current auditor general’s term.
The Pakistan Stock Exchange (PSX) maintained its record-setting spree for a fifth consecutive session as it gained over 550 points on Thursday. The benchmark KSE-100 index rose by 992.53 points (0.68 per cent) to reach an intraday high of 146,081.02 points at 12:37pm, from the previous close of 145,088.49 points. However, the shares soon declined slightly, standing at 145,613.09 points at 3: