In yet another range-bound session on Thursday, the KSE-100 index opened in the green zone but closed barely higher than its preceding close. Topline Securities said the market-moving announcements included the prime minister picking Asim Munir for the position of the country’s next chief of army staff for three years. Arif Habib Ltd said the ongoing political uncertainty led the investors t
The State Bank of Pakistan is expected to keep the main policy rate unchanged at 15 per cent in its monetary policy announcement scheduled for tomorrow, according to analysts and economists. All seven experts who spoke to Dawn.com said they expected the central bank to maintain rates, with many pointing out that a slowdown in economic activity had begun and inflation, which has been at decades-
Turkey’s central bank said on Thursday it had cut its main policy rate for the fourth consecutive month despite high inflation. On the wishes of President Recep Tayyip Erdogan, the bank said it had lowered its benchmark rate from 10.5 per cent to 9pc. With the latest cut, the rate has reached “a sufficient level with regard to growing risks concerning global demand”, the bank’s council said
Mobilink Microfinance Bank Ltd (MMBL) and its agent bank for the transaction, JS Bank Ltd, along with syndicate members signed an agreement with respect to the raising of the micro-lender’s Tier-II capital of Rs2 billion in the form of privately placed term finance certificates (TFCs). According to a press release on Thursday, the syndicate members include Allied Bank Ltd, Bank Alfalah Ltd, Hab
Imports of the petroleum group dipped nearly 25.94 per cent year-on-year in October owing to the sharp reduction in demand as a result of the slowing down of the economy coupled with the highest-ever inflation. The highest-ever increase in prices also contributed to lower consumption of petroleum products. Data compiled by the Pakistan Bureau of Statistics (PBS) showed the imports of petrole