Pakistan’s Secure Logistic-Trax Ltd (SLG-Trax) has approved talks to acquire Singapore-based Finova Technologies, following the grant of an NBFC (Non-Banking Finance Company) license to its subsidiary LogiServe (Pvt) Ltd. The listed company disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Friday. “Following up on the issuance of NBFC license to LogiServe (Pvt)
The Pakistani rupee maintained positive momentum against the US dollar, appreciating 0.06% during the opening hours of trading in the inter-bank market on Friday. At 10am, the currency was hovering at 281.10, a gain of Re0.17 against the greenback. On Thursday, the local unit closed at 281.27. Globally, the yen edged lower on Friday, trimming its sharpest weekly gain in more than four mon
Positive momentum persisted at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index hovering near the 166,000 level during the opening hours of trading on Thursday. At 10:20am, the benchmark index was hovering at 165,912.81, an increase of 272.48 points or 0.16%. Buying interest was observed in key sectors, including automobile assemblers, commercial banks, oil and gas explora
The Pakistan Stock Exchange (PSX) closed at a record high on Wednesday, settling above 165,500 points despite significant volatility. The benchmark index reached a new intraday high of 166,522 before experiencing a sharp fluctuation. Following a strong rally, the market experienced heavy selling pressure, causing the index to decline by as much as 1,338 points. However, the market ended with a
The government’s Rs1.225 trillion syndicated financing deal with 18 banks — the largest in Pakistan’s history — is being trumpeted as a landmark move to ease the power sector’s crippling circular debt. Tied to an existing surcharge on electricity bills, the cashflow-backed plan is touted as a step towards fiscal stability and energy sector reform. Yet critics and supporters warn that, without deep