Shares at the Pakistan Stock Exchange (PSX) lost more than 350 points on Thursday due to escalating tensions between Iran and Pakistan. According to the PSX website, the KSE-100 index lost around 1,038 points at 10:08 am. At 10:31am, the index climbed to 62,797.21. By 3:34pm, it recovered to 63,202.40, or 364.93 points below the previous close of 63,567.33. Mohammed Sohail, chief executive o
Trade between Pakistan and Central Asian countries has come to a standstill owing to the closure of five border crossings adjacent to Afghanistan. Pakistan-Afghanistan Joint Chamber of Commerce and Industry (PAJCCI) President Junaid Ismail Makda said that border crossings at Chaman, Torkham, Ghulam Khan, Angoor Ada and Kharlachi had been closed. “In light of this situation, traders are not only
The Pakistani currency strengthened to over a 12-month high, closing just below the highly anticipated level of Rs280 against the US dollar in the interbank market on Thursday. According to data from the State Bank of Pakistan (SBP), the domestic currency appreciated by 0.04%, or Rs0.12, concluding at Rs279.98 against the greenback. This surge follows the country’s recent report of a current ac
Pak Suzuki Motor Company has agreed to increase the price of its shares under a buyback plan to Rs609 per share to qualify for delisting from the Pakistan Stock Exchange (PSX). Earlier, the Japanese car manufacturing firm had offered to buy back its shares from the general public at Rs406 per share in the first week of December 2023. However, the voluntary delisting committee of the PSX a co
The World Bank has offered financial assistance and risk guarantee for investor comfort in a bid to encourage private sector participation in the management of ailing power distribution companies (DISCOs). As efforts are underway to hand over management control of DISCOs to the private sector, the Power Division has drawn up an innovative plan to reduce circular debt in the energy chain. The di