The country’s default risk as measured by five-year credit-default swaps (CDS) — insurance contracts that protect an investor against a default — rose sharply overnight amid political turmoil and uncertainty about talks with the International Monetary Fund (IMF). The CDS soared to 75.5 per cent on Wednesday from 56.2pc a day ago, according to data provided by research firm Arif Habib Limited.
The counsel for the Balochistan government on Tuesday informed a five-judge Supreme Court bench, headed by Chief Justice Umar Ata Bandial, that the presidential reference regarding the Reko Diq agreement was maintainable because it was a matter of public interest. Lawyer Salahudin Ahmed also informed the bench that despite elaborating dire consequences, a three-judge bench of the apex court led
Shares closed slightly down on Tuesday in a range-bound session despite a decline in international oil prices. Topline Securities said the investors’ interest stayed concentrated within the exploration and production sector where Pakistan Petroleum Ltd and Oil and Gas Development Company Ltd closed higher. That was because the former told a briefing of analysts that its block in Abu Dhabi has s
Finance Minister Ishaq Dar announced on Tuesday that there would be no change in the prices of petroleum products for the next fortnight till November 30. “The government has decided, after permission from Prime Minister Shehbaz Sharif, that there will be no increase in any petroleum products. All the items, petrol, diesel, light diesel oil and kerosene […] their prices will remain unchanged fr
JS Bank Ltd said on Tuesday it wants to acquire more than 51 per cent shares and control of BankIslami Pakistan Ltd. One of the smallest lenders in terms of market capitalisation, JS Bank already owns 7.79pc shareholding in the country’s second largest Sharia-compliant bank. Speaking to Dawn, Topline Securities Research Director Umair Naseer said it’s unclear at the moment whether the transa