The rupee continued to gain strength on Thursday, rising by over Rs2 to the dollar in the interbank market and by Rs5 in the open market. During the last three sessions, the dollar has lost about Rs25 in the open market, whose rates have edged closer to the interbank market’s after a crackdown on hard-currency hoarders and smugglers. The State Bank of Pakistan (SBP) reported the rupee’s clos
Stakeholders expect a Rs5-7 per kg decline in wheat prices after a private sector consortium finalised a deal for the import of 700,000 tonnes of Russian and Romanian wheat which would arrive in 12 cargo ships. The first ship carrying 55,000 tonnes of Russian wheat would arrive at Karachi port on Sept 15. The second ship with 60,000 tonnes is expected to arrive in the third week of this month.
The benchmark of the stock market entered the green zone on Wednesday, thanks to a buying interest following a substantial improvement in the rupee’s value in the open market. Topline Securities said the local currency appreciated against the dollar by Rs10, bringing the total gain to Rs20 in just two days. According to Arif Habib Ltd, the standout share on Wednesday was Kot Addu Power Compa
Pakistan Stock Exchange (PSX) Managing Director Farrukh H. Khan said on Wednesday at least three initial public offerings (IPOs) are expected to take place soon as an increasing number of companies realise that raising funds through the shares market is more efficient than relying on high-cost bank borrowing. Speaking to journalists on the sidelines of a gong ceremony to mark the IPO of technol
The Competition Commission of Pakistan (CCP) has granted approval to two mergers in home healthcare services and non-life insurance sectors after the successful completion of phase-1 competition assessment of the entities. The CCP approved the merger application filed by Shifa International Hospitals Ltd to acquire SIHT Private Ltd from Shifa Foundation. It was found that there was no overla