The Pakistan Stock Exchange surged past 104,000 points on Tuesday, gaining more than 1,000 points a day after data showed inflation fell to a six-and-a-half-year low in November. The benchmark KSE-100 index rose 1,284.13 points, or 1.24 per cent, to close at 104,559.07. The market initially dropped sharply, falling 449 points in early trading, before rebounding to close above 104,000 points.
Pakistan’s merchandise exports slowed in November and fell into the single digit due to a reduction in international demand, according to data released by the Pakistan Bureau of Statistics on Monday. The growth momentum picked pace in July owing to improved orders from the international community and stability in the exchange rate. The exports grew 11.83 per cent in July, followed by 16pc in A
The unexpected fall in inflation pushed the real interest rate to 10.1 per cent, creating ample room for the State Bank of Pakistan (SBP) to introduce a significant cut in its policy rate, which would be the fifth consecutive decline since June. The real interest rate is the difference between the nominal policy rate and inflation. It’s the actual return on a loan or bond. The central bank h
The board of directors of United Bank Ltd (UBL) has approved the merger with Silkbank Ltd, UBL informed its shareholders through a filing with the Pakistan Stock Exchange on Tuesday. “We have to inform you that the board of directors of UBL, in its 252nd meeting held on Dec 2, approved the amalgamation of Silkbank Ltd with and into UBL through a share swap arrangement under section 48 of Bankin
The Overseas Investors Chamber of Commerce and Industry (OICCI) has expressed grave concerns regarding the alarming backlog of pending income and sales tax refund claims. In a letter to Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial, OICCI Chief Executive and Secretary General M Abdul Aleem said that unresolved refunds had reached a critical threshold, severely impacting the op