In an order against an insurance company, the Appellate Bench of the Securities and Exchange Commission of Pakistan (SECP) has declared that the company has clearly committed violations of regulations as it delayed the obtaining of approvals from the commission. The company also failed to classify shares deposit money and advance for purchases of shares, the order of the Appellate Bench added.
The Pakistani rupee strengthened against the US dollar, appreciating 0.05% during Wednesday’s opening hours of trading in the inter-bank market. At 10am, the currency was hovering at 280.73, a gain of Re0.14 against the greenback. On Tuesday, the local unit closed at 280.87. Internationally, the safe-haven Japanese yen and US dollar garnered demand on Wednesday as an aggressive tech-led s
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb has described the blue economy as a game changer for Pakistan’s future growth, underscoring its potential to reach USD 100 billion by 2047 and reaffirming the government’s commitment to policy continuity, investment facilitation, and sustainable maritime development. He made this statement while delivering a virtual address on
Oil prices fell on Wednesday amid a broader selloff in global financial markets that underscored concerns about economic and fuel demand growth, with a stronger U.S. dollar and reports of rising U.S. crude stockpiles adding to the worries. Brent crude futures fell 36 cents, or 0.56%, to $64.08 a barrel by 0221 GMT. US West Texas Intermediate crude was down 40 cents, or 0.66%, at $60.16. Both
The Pakistan Stock Exchange (PSX) observed a mild downturn during intraday trading on Tuesday, with the benchmark KSE-100 Index shedding nearly 700 points. The market opened on a positive note but quickly lost momentum, with the index moving between an intraday high of 163,384.95 and a low of 161,924.57. At 12:20pm, the benchmark index was hovering at 162,126.39, a decrease of 676.76 points