The International Monetary Fund (IMF) has urged Pakistan to invest one per cent of its GDP annually — equivalent to over Rs1.24 trillion based on current estimates — in climate resilience and adaptation reforms to prepare for recurring extreme weather events, particularly floods, and sustain economic growth and reverse inequalities. In a special policy advisory, the IMF noted that ongoing refor
Despite bearish sentiment overnight, the stock market resumed its bullish trend on Tuesday as investors engaged in value-hunting, focusing on the Shanghai Cooperation Organisation (SCO) summit, propelling the KSE 100 index to an all-time high, closing above 85,500. Ahsan Mehanti of Arif Habib Corporation said stocks closed bullish in the earnings season rally led by blue-chip scrips as in
The world’s total public debt is set to exceed $100 trillion this year for the first time, and may grow more quickly than forecast as political sentiment favors higher spending and slow growth amplifies borrowing needs and costs, the International Monetary Fund (IMF) said on Tuesday. The IMF’s latest Fiscal Monitor report showed global public debt will reach 93 per cent of global gross domestic
Despite a 15.3 per cent growth in revenues, the Pakistan Telecommunication Company Ltd (PTCL) on Tuesday announced net loss widened by 41pc to Rs15.3 billion in the third quarter of calendar year 2024 compared to Rs10.82bn in the same period of 2023. In a meeting, the board of directors reviewed the financial result and acknowledged PTCL Group’s revenue growth to Rs160.6bn during the July-Sep
Oil prices tumbled nearly five per cent to a near two-week low on Tuesday due to a weaker demand outlook and after a media report said Israel would not strike Iranian nuclear and oil sites, easing fears of a supply disruption. Brent crude futures were down $3.54, or 4.57pc, to $73.92 a barrel at 10:35am CDT (1535 GMT). West Texas Intermediate futures lost $3.55, or 4.81pc, hitting $70.28 a barr