SHARES of Chinese defence-manufacturing companies rallied on Wednesday, as the escalation in border tensions between India and Pakistan boosted the outlook for mainland exporters, Bloomberg reported. Pakistan, which has imported a bulk of the defence equipment including J-10C fighter jets, claimed to have shot down five Indian planes, including a French Rafale jet. This led to speculation that
Amid heightened tensions with India, the State Bank of Pakistan has asked banks to closely monitor dollar outflows, as the escalating conflict could rapidly increase demand for the greenback. However, currency dealers in both the inter-bank and open markets said there was no panic buying of dollars, nor had demand escalated. According to a currency dealer, over 90 per cent of remittances to
Against high hopes, the government has sought revision in the base electricity tariff for next fiscal year, proposing only 30 paise to a maximum of Rs2.25 per unit reduction in consumer rates under seven different scenarios. Only in one unlikely case of normal circumstances and stable exchange rate at Rs280, the average base tariff would reduce by Rs2.25 per unit in fiscal year 2025-26 to Rs24.
The Pakistan Stock Exchange (PSX) closed in negative territory on Tuesday as investor sentiment weakened despite a policy rate cut by the State Bank of Pakistan (SBP). The move, aimed at easing monetary conditions, failed to satisfy market expectations for a deeper reduction, especially in light of rising geopolitical tensions and global uncertainty. The index opened on a strong note, howeve
Gold prices in Pakistan extended the sharp upward trend on Tuesday, mirroring a global rally driven by renewed buying from China and market concerns over possible US tariffs on pharmaceutical imports, while investors await direction from the US Federal Reserve's upcoming policy decision. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola inc