The rare record-breaking spree continued for the fourth session on the eve of Eidul Fitr, which was supported by two-year high remittances and Saudi Arabia’s commitment to expediting its investment plans in Pakistan, propelling the benchmark KSE 100 index to close at new high above 70,000 level on Tuesday. The Pakistan Stock Exchange (PSX) achieved a remarkable milestone during the outgoing hol
Late in December 2023, the United States Treasury warned that it would apply sanctions on foreign banks for evading the Russian price cap and called on them to boost compliance. Playing it safe, banks in China, Turkey and the United Arab Emirates (UAE) that work with Russia increased checks. They have now begun asking for extra documentation and have trained more staff to make sure deals were c
The inflation print for March clocked in at 20.7 per cent year-on-year, the lowest level in two years. However, it still remains considerably elevated over the long-term average. Over the last two years, inflation above 20pc on a year-on-year basis has led to significant demand destruction, as real incomes and purchasing power continue to decline. However, despite demand destruction at a househ
Pakistan Business Council (PBC) has said that the International Monetary Fund’s previous programmes have suffered from short-term, front-loaded, mainly quantitative targets to manage the twin deficits without sufficient regard to their long-term qualitative impact on the reform agenda. “It is time we restore the sanctity of long-term plans and deal with fragmentation and silo-working of various
Used car dealers have urged the government to allow the commercial imports of cars up to 10 years old and SUVs up to 20 years, saying this would help the government earn handsome revenues and enable consumers to buy vehicles at affordable prices. Recommending different proposals for used vehicle imports, All Pakistan Car Dealers and Importers Association (APCDIA) Chairman Mian Shoaib Ahmed said