The bidding for the privatisation of Pakistan International Airlines (PIA) is scheduled for today (Thursday), with reports suggesting that only one of the six pre-qualified bidders has submitted the required earnest money to participate in the process. The Privatisation Commission had initially pre-qualified six bidders, including Fly Jinnah, a consortium led by YB Holdings (Pvt) Ltd, Airblu
The unabated aggressive buying amid growing economic optimism and easing political noise post-26th constitutional amendment aided the KSE 100 index to break another psychological barrier of 91,000 intraday on Tuesday. The anticipation of a significant cut in the benchmark interest rate early next month was another reason that kept investors in a bullish mindset as the market extended its record
The stock market extended its record-setting spree to a sixth straight session on Monday amid anticipation of a more significant cut in the policy rate, which fuelled the shifting of money from banks to the equity market, propelling the KSE 100 index to settle above 90,000 for the first time. Initially, the benchmark KSE-100 index suffered a loss of 261.24 points, hitting an intraday low at 89,
Saudi officials on Tuesday lamented the economic strain of regional conflicts as the country’s sovereign wealth fund told an investor forum it was cutting the proportion of its overseas investments. Despite a performance by South African opera singers and a remote appearance by Elon Musk, the mood at the glitzy Future Investment Initiative (FII), sometimes called “Davos in the desert”, was clou
Expressing deep concern over the financial mismanagement of Pakistan Post, Privatisation Minister Abdul Aleem Khan has urged the department’s management to abolish all vacant positions, cut unnecessary expenses and increase revenue to ensure the institution’s survival. “Day and night efforts are needed to prevent the collapse of Pakistan Post,” Mr Khan said while chairing a meeting of the ‘Foca