News

SBP’s forex reserves fall to eight-year low

With the expected IMF tranche still nowhere to be seen, State Bank of Pakistan’s foreign exchange reserves on Thursday further declined by $294 million to $5.8 billion — their eight years’ low — making it even more difficult for the country to repay its foreign debts. The country has been facing a worrisome scenario as the reserves are not enough to service its huge foreign debt. Though Fina

Stocks dive over delay in IMF programme

Bears became aggressive at Pakistan Stock Exchange (PSX) on Wednesday as they completely sidelined the bulls and the market lost significant ground, which analysts attributed to the delay in resumption of International Monetary Fund’s (IMF) loan programme. Finance Minister Ishaq Dar reiterated that Pakistan “will not default” on international payments as the government had arranged the entire r

What investors watch out for in emerging markets in 2023

It has been a rough 12 months for emerging markets that have seen more governments stumble into default, currencies suffer and double-digit losses in stocks and bonds alike – though many investors are optimistic that 2023 could bring some relief. Developing economies are expected to cling to their growth differential over developed peers, but recession fears in the United States as well as Euro

Rupee falls to Rs226.37

In addition to dollars, the smuggling of high-value food goods to neighbouring countries has continued to take a toll on the Pakistani currency which dropped to an almost 3-month low to stand at Rs226.37 against the greenback on Wednesday. The rupee maintained a downtick on the seventh consecutive working day, falling by a fresh 0.10% (or Rs0.22) to Rs226.37 in the inter-bank market. Elabora

Pakistan\'s foray into renewable energy

Climate-induced calamities are one of the biggest driving forces behind the move towards alternative sources of energy. For a developing country like Pakistan, costs associated with climate change can be unbearable. The recent floods that swept through the country inflicted more destruction than was ever imagined. They also contributed significantly to the economic downfall with the estimated c