Finance Minister Muhammad Aurangzeb said Pakistan has held “very constructive engagement” with the International Monetary Fund (IMF) mission, expressing confidence that the remaining issues are not “showstoppers”. He expressed hope of finalising a staff-level agreement (SLA) early next week during his visit to Washington with the State Bank of Pakistan (SBP) governor and finance secretary. Aura
A volatile session was observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index swinging both ways during trading on Wednesday. At 1:35pm, the benchmark index was hovering at 165,459.46, a decrease of 714.28 points or 0.43%. Selling pressure was observed in key sectors, cement, commercial banks, OMCs and power generation. Index-heavy stocks, including HUBCO, SSGC, SNGP
Further policy rate cuts by the State Bank of Pakistan (SBP) will be determined by the economic fallout from recent floods and the outcome of the ongoing International Monetary Fund (IMF) review, said Governor SBP Jameel Ahmad in an interview with Bloomberg. The development came as the central bank maintains a cautious stance on monetary policy amid renewed inflation risks. As per the report
Gold pushed through $4,000 an ounce to hit a record on Wednesday, driven by investors seeking safety from mounting economic and geopolitical uncertainty, alongside expectations of further interest rate cuts by the U.S. Federal Reserve. Spot gold was up 0.7% at $4,011.18 per ounce by 0300 GMT. U.S. gold futures for December delivery gained 0.7% to $4,033.40 per ounce. Traditionally, gold is s
Oil prices gained by about 1% on Wednesday as investors brushed off oversupply fears, having digested a decision earlier by OPEC+ to restrain production increases next month. Brent crude futures rose 63 cents, or 0.96%, to $66.08 a barrel by 0715 GMT. U.S. West Texas Intermediate crude climbed 66 cents, or 1.07%, to $62.39. The benchmarks settled broadly flat in the previous session as inves