Bulls continued to maintain their control over the Pakistan Stock Exchange (PSX) as shares climbed over 1,900 points on Monday as investors expected a dip in the inflation reading for the month of November. The benchmark KSE-100 index climbed 1,248.84 points, or 1.23 per cent, to stand at 102,606.16 points from the previous close of 101,357.32 points at 11:06am. Finally, the index closed at 103
Tangled wires crisscross the streets in many parts of Karachi, forming a chaotic web overhead. It’s almost impossible to discern the purpose of each cable as they hang carelessly, draping over trees, poles, and buildings, contributing to the city’s already overwhelming visual clutter. Amid this disorder, countless kundas — illegal connections used to steal electricity — are common. In a country
The economic impact of PTI’s protest in Islamabad, coupled with administrative measures to limit participation, counter its message, disperse the crowd, and clear the venue, extends beyond the huge financial toll, estimated at Rs950 billion, on the country. The projected losses, amounting to Rs190bn per day over five days, are attributed to disruptions to transport, supply chains, and economic
Among the executive orders to be signed on day one of his incoming presidency, the maverick US President-elect Donald Trump has threatened to impose a 25 per cent tariff on all imports from Canada and Mexico. The tariff would also be levied on crude oil until these countries stop the inflow of illegal “immigrants and drugs fentanyl into the US”. Canada and Mexico are the two top sources of US c
Banks’ advances jumped 16 per cent year-on-year in October while it increased by 12pc month-on-month, reflecting the banks’ efforts to increase the advance-to-deposit ratio (ADR) to avoid tax. The latest data provided by the State Bank on Monday showed that the total bank advances increased 15.8pc to Rs13.8 trillion in October compared to Rs11.9tr in the same month last year. The data furth