Equities settled at a lower level at the end of Thursday’s trading session as share prices oscillated within a small range. Topline Securities said the market sentiment remained directionless on the back of the latest auction of treasury bills that witnessed massive increases of 162 basis points and 213 basis points in three- and 12-month cut-off yields, respectively. The rise in the yields
The International Monetary Fund (IMF) and World Bank on Thursday issued a rare joint statement pledging to step up their cooperation to address climate change, debt vulnerabilities and countries’ digital transitions. The statement, released ahead of a G20 leaders summit in India this week, said the two institutions can help address mounting challenges facing the global economy — from increasing
akistan Gasport is looking to buy a spot liquefied natural gas (LNG) cargo for November delivery, its chairman Iqbal Ahmed told Reuters on Thursday, which would be the country’s first spot LNG deal since June 2022. The country, facing a severe economic and foreign exchange crisis, has struggled to purchase the super-chilled fuel following a surge in prices after Russia’s invasion of Ukraine las
The Overseas Investors Chamber of Commerce and Industry (OICCI) has approached the caretaker prime minister with a request to set up an overseas investors task force in collaboration with his office to attract more private sector-led foreign investment. The demand by the representative body of 200-plus multinational companies operating in the country comes on the heels of the establishment of t
Caretaker Prime Minister Anwaarul Haq Kakar on Thursday outlined the plan for tax reforms through digitisation and underscored the need to improve the tax collection for economic progress. The development came a day after the Federal Board of Revenue (FBR) assured the PM it would bring one million new taxpayers on the roll and 20,000 retailers to the Point-of-Sale (POS) system — a real-time mec