Here is an answer you may not have guessed: Gold. Among wealthy investors under the age of 43, 45% own gold as a physical asset, and another 45% are interested in holding it, according to a recent study by Bank of America Private Bank. Those are far higher percentages than other age groups. Usually this demographic is not interested in assets like gold, cash or Treasuries, because they ar
The Asian Development Bank (ADB) has maintained its inflation forecast for Pakistan at 15%, significantly higher than the official target, while predicting the country’s debt burden will ease to 70% of GDP this fiscal year. The Manila-based lender’s flagship report, the Asian Development Outlook, did not provide a new economic growth figure for Pakistan, implying it retained the previous foreca
Gold prices in Pakistan reached a new all-time high of Rs254,000 per tola (11.66 grams) on Thursday, driven by international investors taking heavy positions in anticipation of the US central bank cutting interest rates in September 2024. The bullion surged by Rs4,600 per tola, setting a new record after the commodity spiked by $60 per ounce (31.10 grams) to $2,470 in the global market, accordi
Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) has underscored the critical importance of cancelling all agreements with independent power producers (IPPs) and procuring electricity from cheaper sources without any capacity charges. A consensus in that regard was reached at a think tank session of the PCJCCI held at the Chamber Secretariat on Thursday. “Despite a vast potenti
Despite grappling with the triple crises of food, fuel, and finance, Pakistan has made progress in implementing the Sustainable Development Goals (SDGs), aimed at ending poverty, protecting the planet, and improving lives worldwide. Speaking at the High-Level Political Forum under the auspices of the UN Economic and Social Council, Ambassador Usman Jadoon, acting permanent representative to the