The government has targeted raising over Rs7 trillion by selling various short and long-tenure sovereign bonds to financial institutions over the next three-month period (October-December). This is in response to the devastation caused by the floods and the need to generate more financing to address its aftershocks. On Wednesday, the government borrowed Rs218.3 billion against the pre-announced
The shares market witnessed a range-bound session on Tuesday as investors chose to book profits. Arif Habib Ltd said the benchmark index failed to continue its upward momentum despite opening in the positive zone. Sluggish participation led the benchmark to close in the red zone, it added. The trading volume remained healthy in main-board stocks while hefty volumes were recorded in third-ti
Pre-2008, Ahsan Ahmed, the owner of a small clothing store, would make biweekly trips to the post office to send a money order to his family in Lahore. After enduring traffic jams, slow customer service and filling out endless forms, his family would eventually receive the funds three to four working days later. His story points to the fact that before OTC money transfer services like Easypaisa an
Misfortunes never come singly. That’s one big misfortune for companies that sell insurance against misfortunes. Non-life insurance players in Pakistan are in a tight spot. Calamities have struck their clients one after another, triggering insurance events — occurrences that result in insurance providers paying out on a claim. Premiums should go up correspondingly. Yet their clients refuse to
Oil prices struggled to find their footing in Asian trade on Thursday after easing in the previous session on the back of a weakening global demand outlook. Brent crude futures dropped seven cents, or 0.1 per cent, to $92.38 a barrel by 0310 GMT. US West Texas Intermediate crude was down 21 cents at $87.06 a barrel, or 0.2pc. Both Opec and the US Energy Department have cut their demand outlo