KARACHI: Pakistan Stock Exchange (PSX) on Tuesday faced pressure from economic headwinds and lost over 200 points as dismal data indicating a significant 19% year-on-year (YoY) decline in cement sales and an 8% decrease in oil consumption left investors worried about the future course of the economy. In the morning, the trading session commenced on a strong note, building upon the gains reco
KARACHI: The stock market snapped its four-day winning streak as investors resorted to profit-taking following reports that the new government has begun preparations to engage the International Monetary Fund (IMF) for the start of final review under the current $3bn Stand-By Arrangement (SBA) and negotiating a fresh Extended Fund Facility. The country is faced with numerous economic issues main
KARACHI: Pakistan’s US dollar-denominated Eurobonds hit a record high price in the global market following an informal invitation from the newly elected government of Prime Minister Shehbaz Sharif to the International Monetary Fund (IMF) for talks on the last loan tranche of $1.1 billion and a new loan programme. The development spurred global investors, encouraging them to take new position
KARACHI: Leading international and local experts in the energy, power, infrastructure, risk management, and insurance sectors have urged for the promotion and assurance of privatising all government departments to address both the energy and economic challenges of the country. They said this during presentations at a conference titled: “Energy Summit ‘24,” focused on fostering growth, collabora
ARACHI: Pakistani currency continued to depreciate for the third consecutive working day on Tuesday as it reached Rs279.31 against the US dollar in the inter-bank market. According to State Bank of Pakistan’s (SBP) data, the rupee trimmed 0.02% of its value, or Rs0.05, against the greenback on a day-on-day basis. Market talk suggests that exporters were charging a higher premium on US dol