The worsening economic crisis has triggered human and political crises, eroded social cohesion and posed a risk to our national security. The outlook for the future at the moment appears to be bleak. In October, inflation — mainly driven by food, transport and energy prices — measured by the Consumer Price Index rose by 26.56 per cent year-on-year against last month’s 23.56pc and 9.2pc in the s
It is like a settlement at gunpoint — an unusual requirement from the apex court to pre-sanctify precisely a commercial deal between a sovereign under distress and a top global mining firm with overwhelming powers of international jurisdictions. Subject to the clearance by the country’s top court, the provincial assemblies will pass special resolutions, and the parliament, through a joint sitti
Stocks opened in the red on Friday, with the benchmark KSE-100 index falling immediately after trading began. The KSE-100 index lost 229.61 points, or 0.55 per cent, to reach 41,861.10 points at 9:30am. Head of Equities at Intermarket Securities, Raza Jafri, said the market opened on a weak note as expected after the assassination attempt on former prime minister and PTI Chairman Imran Khan.
Soneri Bank Ltd is going to exercise the call option with respect to a Rs3 billion bond it issued in July 2015. The commercial lender told bondholders on Wednesday it’s going to use its right as a debt issuer to “call” or buy back its listed bond — called a term finance certificate (TFC) in local parlance — of Rs3bn prior to maturity. The bond was issued as an instrument of redeemable capit
The central banks of Pakistan and China signed a memorandum of cooperation on yuan clearing in Pakistan, the Chinese central bank said in a statement on Wednesday, without giving more details. The arrangement could pave the way for an alternative payment option for Pakistan, boosting yuan usage for cross-border transactions among Chinese and Pakistani enterprises and financial institutions.