After suffering losses overnight due to nervous selling by a section of investors fearing US policy shift after Donald Trump’s win, the stock market resumed its record-setting spree on Thursday, propelling the KSE 100 index to an all-time high closing above 92,500. The overnight downtrend on the local bourse was in sheer contrast to the global bull run as Wall Street, the US dollar, and Bitco
THE provinces are already running banks: Bank of Punjab, Sindh Bank and Bank of Khyber. Balochistan is the only province that does not have a bank of its own, but given the precedent, it is bound to go for one as soon as it can. KP and Punjab recently said they would be interested in running their airline as well. A good question to ask here is why. Why should the provinces have their own banks
US presidential candidates Donald Trump and Kamala Harris have different visions for America but their economic strategies are similar, even if the modalities differ. Both have promised to strengthen middle-income groups and support businesses, which is where Pakistan can be impacted the most. Pakistan’s economic ties with the United States are multifaceted and deeply significant. On one
The foreign exchange reserves of the State Bank increased by $18 million to $11.274 billion during the week ending on Nov 1, announced by the central bank on Thursday. However, the country’s total reserves declined by $118m to $15.9bn during the week. The forex holdings of commercial banks also noted a drop of $137m to $4.8bn. Experts said the SBP reserves are enough to cover the country’s two
The local gold prices on Thursday witnessed a drastic fall of Rs4,630 per 10-gram and Rs5,400 per tola on Thursday, as international prices plunged by $65 per ounce after the victory of Donald Trump. As per All Sindh Saraf and Jewellers Association (ASSJA), the new prices of 10-gram and one-tola (24kt) are Rs237,311 and Rs276,800, respectively, while international gold price stood lower at $2,6