Continuing its upward momentum from last week, the equity market opened on a positive note on Monday, buoyed by a favourable economic outlook due to rising exports and surging remittances. The KSE-100 index, the benchmark for the Pakistan Stock Exchange (PSX), started the day with bullish sentiment, peaking early in the session. However, profit-taking in the latter half of the day pulled the i
Around the world, financial services professionals — particularly some variety of bankers — are known for their haughtiness. Prestigious schools, inhumanely rigorous training as analysts, and partying at expensive clubs and yachts all help build that reputation. But the fact that they handle and allocate so much capital at least somewhat justifies it. The same arrogance found its way through the l
The President of the Asian Development Bank (ADB), Masatsugu Asakawa, visited the Benazir Income Support Programme (BISP) Tehsil Office in Taxila to observe its initiatives aimed at providing cash assistance, supporting enrolment in schools and maternal and child health in the country. During the visit to the BISP Tehsil Office in Taxila and the Benazir Nashonuma Centre at Wah General Hospital,
Oil prices rose 2pc on Monday as the ongoing impact of Hurricane Francine on output in the US Gulf of Mexico offset persistent Chinese demand concerns ahead of a US Federal Reserve rate cut decision later this week. Brent crude futures for November were up $1.35, or 1.89pc, at $72.96 a barrel by 2:06pm EDT (1806 GMT). US crude futures for October rose $1.7, or 2.48pc, to $70.35. Nearly a fif
The National Electric Power Regulatory Authority (Nepra) has initiated formal legal proceedings by issuing show-cause notices to three independent power producers (IPPs) for their inability to restore power supply to the national grid after a countrywide breakdown in January last year. The development came after detailed investigations into three power projects — 1,320MW Sahiwal Coal Power Proj