The KSE-100 index, which is the benchmark index of the Pakistan Stock Exchange (PSX), has increased by roughly 18,000 points or 37 per cent over the last 10 weeks. The earlier high in the range of 52,000 points that was set in 2017 has been far exceeded by the recent run-up in prices. The performance of the KSE-100 index had been lacklustre for the last five years as it was not able to exceed its
The stock market observed a roller coaster ride in the outgoing week. Arif Habib Ltd said the highlight of the week was the policy rate announcement by the State Bank of Pakistan, which kept the key interest rate at 22 per cent in line with expectations. Moreover, there was a treasury bill auction, which saw no significant change in cut-off yields across all tenors. Furthermore, global credit
The “landmark” deal on phasing down fossil fuels to achieve net zero carbon dioxide emissions, tripling renewables and doubling energy efficiency is here. But where’s the money to help poor, developing economies transition away from the dirty fuels? The deal called the UAE Consensus closed last week at the United Nations Climate Summit (COP28) is being hailed as the “beginning of the end” of th
Pakistan and China have signed several memoranda of understanding (MoUs) for a hefty investment of $10 billion in four major export-oriented sectors signifying a robust commitment to the country’s economic growth. The joint ventures (JVs) are aimed at establishing industries in key sectors including textiles, agriculture, food, and car spare parts manufacturing, Caretaker Commerce Minister Goh
The rupee is in for a rough ride next year, industry sources and currency experts have warned, insisting that the local currency might face a significant devaluation as its current facade of stability is not backed by economic fundamentals. To back up their assertion, experts point to the current fiscal year’s data indicating troubling trends. For instance, remittances dropped by 10.3 per ce