KARACHI: Political stability and strong corporate results continued driving bullish sentiments on the stock market as a result the KSE-100 index extended its overnight gains to settle above the 63,000-point level on Monday. Ahsan Mehanti of Arif Habib Corporation said the easing of political noise as was reflected in the smooth election of Punjab and Sindh chief ministers ended the uncertainty
Pakistani currency on Monday hit a four-month high at Rs279.20 against the US dollar in the inter-bank market as it resumed the uptrend on the back of increase in supply of foreign currency compared to its demand for imports. Market talk suggests that dollar inflows surged on account of rise in remittances sent home by overseas Pakistanis and higher export earnings. Exporters scrambled to sell
KARACHI: Pakistan’s commercial banks have continued to freely lend to the cash-strapped government at elevated rates of return, taking their financing to a record high of 93% of total deposits in January 2024. According to data compiled and shared by Optimus Capital Management (OCM), banks’ credit to the private sector, however, remained stagnant at the eight-month low at 44% of deposits in Jan
What did not appear so pronounced in politics has surfaced in the recent split electorate mandate: people’s urge for self-governance. An analyst says that the public has reclaimed the grounds that rightly belong to them by defying the chronic status quo and the culture of dread. In the economic field, as evidenced by the mobility of labour, an increasing number of people are improving their liv
The future of the long-stalled Gwadar power plant remains uncertain as it appears to have reached yet another impasse a year after the previous Shehbaz Sharif administration had given the go-ahead to execute the project on imported coal as originally planned. The 300-megawatt power project has failed to make any headway despite it being listed as a “fast track project” under the multi-billion d