After a strong start following an overnight record closing, the stock market tumbled on Wednesday as equity investors became unsettled by the election of Donald Trump as the 47th president of the United States, pushing the KSE 100 index into the red. Talking to Dawn, Tahir Abbas of Arif Habib Ltd said a section of investors indulged in profit-taking after Trump’s win, fearing a change of polici
The Pakistan Stock Exchange (PSX) has appointed Farrukh H. Sabzwari as its chief executive officer for three years, according to a notice issued by the bourse on Tuesday. He will assume his office on the 18th. Mr Sabzwari has previously served as CEO and MD of KASB Securities (local partner of BoA Merrill Lynch), BMA Capital and country head for CLSA Emerging Markets in Pakistan. His time ab
Pakistan plans to issue Eurobonds in the next fiscal year after securing an improved ratings from international agencies, announced Finance Minister Mohammad Aurangzeb on Tuesday. Speaking at the launch of the Securities and Exchange Commission of Pakistan’s (SECP) Electronic Mortgage Register, the minister said the economy has stabilised, and regulators and banks must accelerate growth. The
Singapore’s dollar and Thailand’s baht slid the most among Asian currencies on Wednesday, while the Mexican peso hit a two-year low as the dollar surged on projections that Republican Donald Trump had won the US presidential election. The Singapore dollar was last down 1.3 per cent at a three-month low and set for its worst session since August 2015. Thailand’s baht slumped as much as 1.9pc
Donald Trump’s electoral victory has left Mexico bracing for potential trade tensions, tariffs and mass migrant deportations that experts say could pose a major test of relations between the closely connected neighbours. On the eve of the election, Trump vowed to impose tariffs of at least 25 per cent on goods coming from Mexico unless it stops an “onslaught of criminals and drugs.” The Lati