WHICH country has not lamented, as the poet Kahlil Gibran put it, that its leaders are either in the cradle or in the grave? Look around the world. Bankruptcy is not a financial condition limited to poorer countries. Even the most affluent or enviably developed are suffering from a dearth of dependable, trustworthy leadership. At these critical times, Pakistan needs something more than the revi
Engro Corporation Ltd said on Tuesday it has completed a buyback exercise worth Rs11.6 billion, which began on Feb 3, at spot prices prevailing on the Pakistan Stock Exchange (PSX). The 39.5 million shares that the company has recouped from the stock market in a little less than six months will now be cancelled to improve the earnings per share of the company. The practice of listed firms bu
Habib Bank Ltd announced on Wednesday its consolidated earnings for April-June amounted to Rs12.9 billion, up 281 per cent from a year ago. On a quarterly basis, however, net profit dipped 2pc in the same three-month period.Arif Habib Ltd said the jump in earnings in the quarter under review was led by higher net interest income. The bank also declared a dividend of Rs2 per share, which to
After suffering significant losses for eight sessions in a row, the rupee on Wednesday resisted further decline and recovered Rs1.48 against the US dollar in the interbank market. Currency dealers said the local currency bounced back on unconfirmed media reports about a $2.1 billion rollover and $600 million loan from China. “After the $3bn Standby Arrangement with the IMF, many inflows were
The outflow of profits and dividends on foreign investments fell sharply year-on-year by over 80 per cent in the outgoing FY23 reflecting poor performance of the economy. The latest data issued by the State Bank of Pakistan (SBP) on Wednesday reveals that multinational companies repatriated just $331 million in 2022-23 against $1.680 billion in the preceding year. The plunge in dollar outflo