K-Electric Ltd CEO Moonis Alvi said on Tuesday the unusually high loss that the vertically integrated power utility recorded in the first nine months of 2022-23 constitutes no more than a “blip” in the long run. Speaking to economist Ali Khizar on his YouTube channel, Mr Alvi said the company’s lenders, including those from Europe and China, knew in advance about the loss. “The substantial part
China’s exports grew at a slower pace in April compared to the previous month, according to official data released Tuesday, as the world’s second-largest economy endures a patchy recovery from tough Covid curbs. Rising global inflation, the threat of recession elsewhere and geopolitical tensions with the United States have weakened demand for Chinese products. Exports growth cooled to 8.5 pe
Stock markets dropped on Tuesday as investors await key US inflation data and track President Joe Biden’s battle with Republicans over the debt ceiling. Wall Street indices were down in morning trading, while major European stocks closed flat or in negative territory. London stocks fell into the red as investors returned from a long holiday weekend marking the coronation of King Charles III.
Share prices tumbled on Tuesday amid a rapidly deteriorating political situation. Topline Securities said the stock market witnessed some buying interest after trading opened on a negative note. However, the news about the arrest of former prime minister Imran Khan dampened the confidence of investors and caused a sharp drop in the index of representative shares. Arif Habib Ltd called the tr
Credit to public sector enterprises (PSEs) soared to Rs282 billion in the first 10 months of the current fiscal year compared to just Rs14bn in the same period of last year reflecting the extremely poor financial health of the state-run companies. Data issued by the State Bank of Pakistan on Tuesday showed the growth of credit to PSEs was abnormally high compared to previous years’ net withdraw