Bulls led the charge on the Pakistan Stock Exchange on Tuesday, thanks to the optimism shown by investors about the ongoing negotiations between the government and the International Monetary Fund (IMF). Arif Habib Ltd said the level of investors’ involvement remained adequate owing to the potential outcome of the IMF talks. “We recommend investors should avail any downside as an opportunity
THE word ‘default’ (or its less pejorative technical equivalent, ‘restructuring’) sends shivers down the spines of our policymakers and citizens alike. It shouldn’t. Sovereign default, in an economic sense, means a government reneging on its obligations. Per this meaning, almost all governments of the world have indulged in some form of default in their history. Surprise inflation can materiall
Most Adani Group stocks dropped on Wednesday, extending losses to $72 billion after a short-seller report criticised the conglomerate and despite the group completing a closely watched share sale a day earlier. Hindenburg Research’s report last week alleged improper use of offshore tax havens and flagged concerns about high debt. It added that shares in seven Adani-listed companies have an 85 p
On the opening day of make-or-break talks with the International Monetary Fund (IMF), the government on Tuesday increased liquefied petroleum gas (LPG) price by 30 per cent and finalised a minimum of Rs6 per unit average increase in electricity rates between now and August. This was on top of an earlier hike in petroleum rates by up to 16pc, a rise of one percentage point in the central bank
The annual consumer inflation hit 27.6 per cent last month, the highest in 48 years, as prices of food and transport continued to remain elevated amid economic turmoil, official data showed on Wednesday. On a month-on-month basis, the Consumer Price Index (CPI), which measures the overall change in consumer prices based on a representative basket of goods and services over time, rose 2.9pc in J