The stock market soared on Monday in a session marked by an uptick in trade volumes. Topline Securities said the KSE-100 index commenced the week on a positive note and stayed in the green zone throughout the trading hours before settling on the higher side. The brokerage attributed the rally to the rejuvenated buying interest in the technology sector. Systems Ltd remained the “darling stock
ISLAMABAD: The Federal Investigation Agency (FIA) has finally registered an FIR against two Pakistani businessmen on charges of defrauding a Chinese investor. The FIR No 33/2023, registered by the FIA’s Commercial Banks Circle, follows an inquiry into the complaint lodged by Zhi Cheng Li. The FIR carries Sections 409, 420, 468, 471 and 109 of PPC. Mr Zhi, who claims falling victim to decepti
Pakistan was the top borrower of the International Development Association (IDA) in fiscal year 2023, securing $2.3 billion in funding, the World Bank said in its annual report. The bank helped Pakistan respond to devastating floods with nearly $1.7bn for five projects in the worst-affected Sindh province to build resilient housing, restore crop production, provide health services for mothers a
Pakistan refiner Cnergyico has imported the country’s first private-sector shipment of Russian crude oil, it said on Monday, as the cash-strapped nation takes advantage of Moscow’s discounts on its oil exports. The South Asian nation has started snapping up crude oil that Russia has discounted after its exports were banned from European markets over Russia’s invasion of Ukraine. Pakistan’s f
Pakistan’s annual inflation rate rose to 31.4 per cent in September from 27.4pc in August, statistics bureau data showed on Monday, as the country reels from high fuel and energy prices. The country is embarking on a tricky path to economic recovery under a caretaker government after a $3 billion loan programme approved by the International Monetary Fund (IMF) in July averted a sovereign debt d