The State Bank of Pakistan (SBP) has partnered with the World Bank Group, through its private sector arm, the International Finance Corporation (IFC), to expand local currency financing and support private sector growth in Pakistan. According to SBP, through an ISDA agreement, the partnership will enable IFC to manage currency risks more effectively and increase its investments in Pakistani rup
Oil prices fell for a second day on Tuesday as concerns about excess supply and risks to demand stemming from tensions between the U.S. and China, the world’s top two oil consumers, weigh on the market. Brent crude futures fell 17 cents, or 0.28%, at $60.84 a barrel at 0343 GMT. The U.S. West Texas Intermediate crude (WTI) contract for November delivery , set to expire on Tuesday, eased 0.52
The Pakistani rupee strengthened against the US dollar, appreciating 0.06% during the opening hours of trading in the inter-bank market on Tuesday. At 10:15am, the local currency was hovering at 280.90, up by Re0.17 against the US dollar. According to the State Bank of Pakistan (SBP), the local unit closed at 281.07 on Monday. Globally, the Japanese yen held steady on Tuesday, ahead of a
Bullish momentum dominated the Pakistan Stock Exchange (PSX) amid ease in tensions between Pakistan and Afghanistan, with the benchmark KSE-100 Index settling with a gain of over 2,400 points on Monday. Driven by renewed investor confidence, the KSE-100 Index hit an intra-day high of 166,421.33. At close, the benchmark index settled at 166,242.90, an increase of 2,436.69 points or 1.49%.
In a strategic move, Thatta Cement Company Limited (THCCL) announced that its wholly owned subsidiary, Minsk Work Tractor & Assembling (Private) Limited, has signed an exclusive agreement with Belarus-based OJSC Minsk Tractor Works to assemble and locally produce Belarus tractors in Balochistan, Pakistan. The listed cement-maker said in a development to the Pakistan Stock Exchange (PSX) on Mond