Bitcoin raced to an all-time peak close to $72,000 on Monday as the world’s most popular cryptocurrency won further support on greater trading accessibility and dollar weakness. The virtual unit struck $71,829 as dealers also eyed an upcoming industry event that will tighten bitcoin supplies. Monday’s spurt extended last week’s record-breaking run when the currency bulldozed its way past the
KARACHI: Pak Suzuki Motor Company Ltd (PSMCL) has increased the price of Suzuki Swift GLX CVT by Rs304,000 to Rs5.429 million from Rs5.125m due to increase in general sales tax by seven per cent. The government has raised the GST from 18pc to 25pc on locally assembled vehicles if their invoice price (excluding sales tax) exceeds Rs4m for the vehicles falling under chapter 87.03 of the Pakistan
KARACHI: Trading in the newly listed Mahaana Islamic Index Exchange Traded Fund (MIIETF), managed by Mahaana Wealth Ltd (MWL), began on Monday. The Pakistan Stock Exchange (PSX) said the ETF was aimed to track the performance of the Mahaana Islamic Index (MII30) whereby the index would be periodically rebalanced and reconstituted to provide long-term appreciation and dividend yield to investors
KARACHI. The selling of dollars to banks fell by $70 million in February, said currency dealers on Monday. The open market had been selling over $300m for most of the months in the current fiscal year. “In January we sold about $320m to the banks but it fell to around $250m in February,” said Malik Bostan, Chairman Exchange Companies Association of Pakistan. “The decline was due to the ma
The stock market managed to close the topsy-turvy week in the green. Heralding political stability after Shehbaz Sharif took oath as the 24th prime minister of Pakistan, the market staged a robust rally of 626 points in the first session of the outgoing week which propelled the benchmark KSE 100-share index briefly above 66,000 points but settled below this level. However, the market in the