The rupee has appreciated significantly against the dollar over the past year, marking a rare shift as the US currency typically dominates. Official data showed that the rupee gained around Rs9 per dollar in the interbank market between August 11 and August 13. The open market saw even greater appreciation, with the rupee strengthening by Rs15 per dollar during the same period. On August 11
In the wake of the resurgence of the grey market, the Special Investment Facilitation Council (SIFC) has urged the State Bank of Pakistan (SBP) and Federal Board of Revenue (FBR) to enhance the flow of foreign exchange through official channels and secure remittances from overseas Pakistanis. The top civil-military forum, created to promote investment, has also asked FBR to devise a milestone-b
Extending Independence Day felicitations to the nation, Prime Minister Shehbaz Sharif on Wednesday promised a “significant cut” in electricity tariffs in next few days. Currently, he noted, electricity bills are the biggest concern of everybody and without reducing the electricity tariffs, Pakistan’s industry, agriculture, and exports could not grow. Addressing a ceremony held in connectio
KARACHI: Continuing from the overnight optimism driven by strong corporate results, equity investors were busy cherry-picking, propelling the KSE 100 index above the 78,000 level on Friday. Ahsan Mehanti of Arif Habib Corporation said the bull run was led by cement, banking and oil scrips amid a solid corporate earnings outlook. He said the rebound in global equities, easing US recession fea
Is the US headed for a recession? Or has it simply hit a rough spot? What could be the potential implications of a US recession for Pakistan? Recent US economic indicators are, according to analysts, pointing to a direction where the American economy could be in recession early next year as a worldwide selloff jolted equity markets in the wake of a weaker-than-expected jobs report. This was des