Shares at the Pakistan Stock Exchange (PSX) on Thursday witnessed selling pressure, shedding more than 500 points. The benchmark KSE-100 index declined by 589.95 points, 0.72 per cent, to close at 81,657.96 points from the previous close of 82,247.91 points. However, it is important to note that the index hit a life-time high in opening trade, rising to a record high of 82,905.73 points befo
Pakistan Telecommunication Company Ltd (PTCL) has entered into a deal with International Finance Corporation (IFC)-led consortium for $400 million financing that would help the country’s largest telecom operator to materialise its plan of acquisition of Telenor Pakistan and its subsidiary Orion Towers (Private) Ltd. PTCL had in December 2023 signed a share purchase agreement with Telenor (ASA
Amid an unprecedented Rs3.4 trillion profit of the central bank on the back of unprecedented 22 per cent policy rate, the government on Thursday amended rules for buyback in government securities and exchange programme to reduce debt servicing cost by end-December this year. The “scope (of Government Securities Buyback & Exchange Programme) has been enhanced from existing “Buyback Programme” to
Repatriation of profits and dividends by multinational companies swelled more than five times in the first two months of the current fiscal year, reflecting the ease of restriction-free dollar outflows amid stability on the external account front. The State Bank of Pakistan (SBP) reported on Thursday that the profits outflow reached $274.7 million during July-Aug FY25 against $49.2m in the cor
Pakistan and China on Thursday agreed to enhance bilateral relations, with a particular focus on the rapidly growing automotive sector, Pakistan’s Consul General in Shanghai, Shehzad Ahmad Khan affirmed at the 2024 Taizhou International Automobile Industry Expo. Speaking at the opening ceremony of the four-day event, Khan said Taizhou played a pivotal role as a trailblazer in China’s automobile