Leveraged buyers led a selling spree at the Pakistan Stock Exchange on Tuesday, resulting in the biggest day-on-day decline in the benchmark of major shares. The KSE-100 index dropped 2,534 points or 4.1 per cent from the preceding session to 59,170.97 points, down 11pc from an all-time high of 66,427 points on Dec 12. Speaking to Dawn, Topline Securities Ltd CEO Mohammed Sohail said high l
The pandemic, floods and wars have made for a dismal last few years. While the shadow of Covid-19 and potential sovereign default may have passed, we are entering the new year mourning Palestinian lives. Beyond the pall of loss, lies the more humdrum everyday existence of ever pricier eggs and prohibitively expensive cars. With 2024 promising elections, does it also promise a brighter economic fut
The new government in Pakistan must have a plan to tackle the debt challenge, with a reform agenda enhancing financial management, increasing revenue, enforcing fiscal discipline, diversifying funding sources and effectively managing debt, suggests the United Nations Development Programme (UNDP). The UN agency’s latest publication — Development Advocate Pakistan — further suggests that parliame
Food exports increased year-on-year by 37.12 per cent during the first five months of the current fiscal year, reported the Pakistan Bureau of Statistics on Tuesday. Food exports were recorded at $2.64 billion during July-November 2023-24 as compared to $1.92bn in the same period last year. The rice exports surged by 49.37pc to $1.11bn from $749.4m last year. Likewise, the exports of frui
Oil jumped three per cent on Tuesday to its highest level this month, as further attacks on ships in the Red Sea prompted fears of shipping disruptions and on hopes of interest rate cuts that could boost economic growth and fuel demand. Brent crude futures were up $2.41, or 3.1pc, at $81.48 a barrel by 11:52 a.m. ET (1652 GMT). US West Texas Intermediate crude rose by $2.36, or 3.2pc, to $75.92