The rupee’s rally triggered in early September by a government clampdown on smuggling and hoarding of foreign currency might prove to be short-lived due to its financing risks, Goldman Sachs Group Inc. has warned. “The recent appreciation of the Pakistani rupee will likely be short-lived, given soaring interest costs and only short-term arrangements with the International Monetary Fund and bila
The benchmark of the Pakistan Stock Exchange inched up on Wednesday on encouraging earnings announcements. Topline Securities Ltd said the bullish sentiment, which was influenced by the corporate results especially in the banking sector, played a significant role in creating positive vibes in the stock market. Investors exercised some caution in anticipation of the forthcoming announce
The head of the International Monetary Fund (IMF) on Wednesday said the war between Israel and Hamas was another cloud on a horizon with plenty of them, warning that the global economic outlook could worsen. “What we see is more jitters in what has already been an anxious world,” Kristalina Georgieva told an audience at the FII investment conference in Riyadh. “And on a horizon that had plen
The federal cabinet has approved the telecom infrastructure-sharing framework and green-lighted the formation of a committee to auction the spectrum for the next-generation 5G wireless network, Caretaker IT Minister Dr Umar Saif said on Wednesday. The infrastructure-sharing framework aims to help telecom companies jointly use resources, including towers, antennas and cable ducts, optimise resou
MCB Bank Ltd said on Wednesday its earnings for July-September clocked in at Rs19.6 billion, up 112 per cent from a year ago. The jump in profitability was due to improved total income, according to Arif Habib Ltd. The bank’s bottom line expanded 34pc on a quarter-on-quarter basis. It also announced a dividend of Rs8 per share, which takes the total dividend paid so far in 2023 to Rs21 per s