Share prices rose on Tuesday as investors remained hopeful for the release of the delayed loan tranche from the International Monetary Fund (IMF). Arif Habib Ltd said investors’ activity increased marginally while the trading volume rose across the board slightly, with third-tier companies topping the volume board. Analyst Ahsan Mehanti said stocks closed higher as the earnings season r
The Organic Meat Company Ltd (TOMCL) on Tuesday successfully secured the required approvals to export “pet chews” to Canada and meat products to Uzbekistan. The company informed the Pakistan Stock Exchange (PSX) that it has become the first company from Pakistan to export such products to Canada. The approvals also included the supply of meat and meat products (chilled and frozen) to Uzbekis
Pakistan Telecommunication Company Ltd (PTCL) group achieved a 23.2 per cent revenue growth in the January-March quarter over the same period last year. The PTCL group’s revenue was recorded at Rs43.2 billion during the first quarter of 2023, however, the group posted a net loss of Rs5.7bn. The key challenges faced by the company were increasing energy and fuel tariffs and restrictions impos
Oil prices edges higher on Tuesday as upbeat economic data in No. 2 oil consumer China more than offset wider concerns that possible increases to US interest rates could dampen growth in the top consuming country. Brent crude rose 49 cents, or 0.6 per cent, to $85.25 a barrel by 12:48 p.m. ET (1648 GMT), while US West Texas Intermediate was up 49 cents, or 0.6pc at $81.32. China’s economy gr
The banks have failed to meet the surging demand for cash amid higher inflows of foreign exchange in Ramazan. It was also noted that dozens of automated teller machines (ATMs) were out of cash during the last two days as banks were not filling them up with the required cash. Currency dealers said the supply of cash from banks is either delayed or not provided when required. Banking customers