Pakistan Stock Exchange (PSX), with the commencement of new week, snapped its rising spree and came under significant selling pressure owing to over-leveraged investor positions, futures contract rollover and pre-budget uncertainty, resulting in a drop of over 250 points. In the morning, the KSE-100 index had a robust start as it spiked to the intra-day high of 75,618.49 points. However, it qui
Pakistani currency on Monday depreciated Rs0.09 and closed at Rs278.30 against the US dollar in the inter-bank market as the International Monetary Fund (IMF) forecast further devaluation of the local currency over the next 13 months. The IMF expects the rupee to depreciate 18% to Rs329/$ by the end of June next year. According to the State Bank of Pakistan’s (SBP) data, the rupee had closed
Pakistani currency on Monday depreciated Rs0.09 and closed at Rs278.30 against the US dollar in the inter-bank market as the International Monetary Fund (IMF) forecast further devaluation of the local currency over the next 13 months. The IMF expects the rupee to depreciate 18% to Rs329/$ by the end of June next year. According to the State Bank of Pakistan’s (SBP) data, the rupee had closed
Crypto startup funding rose for a second straight quarter to hit $2.4 billion in the first three months of 2024, PitchBook data showed, as expectations of lower interest rates and the debut of the first US bitcoin spot ETF whetted investor appetite. Funding was spread across 518 deals and rose by 40.3% from the previous quarter, according to data firm PitchBook. Global venture capital investmen
Eminent industrialists in Karachi have urged the government to implement proposed budgetary measures for the federal budget 2024-25 to drive industry-led economic growth in the country. They stressed the importance of halting deindustrialisation and promoting reindustrialisation. In the budget proposals submitted to key stakeholders including the prime minister, finance minister, State Bank of