A stockbroker monitors stock prices during a trading session at PSX in Karachi on July 31, 2023. — AFP Investors booked profits after a strong annual rally. The November 24 protest call and security unrest have hurt sentiment. Cement, banking and power sectors are witnessing buying activity. Stocks saw wild swings Wednesday, ending a prolonged … Read more
A representative image of transmission lines. — AFP/File The package aims to encourage the use of electricity to generate income. Electricity consumption in winter ranges from 9,000 to 12,000 megawatts. ECC also approves Rs26.07 per kWh for all eligible consumers. ISLAMABAD: The Economic Coordination Committee (ECC) of the federal cabinet has approved the winter package … Read more
Stock brokers monitor news on a television screen at a stall, during a trading session at the Pakistan Stock Exchange, in Karachi, July 3, 2023. — Reuters Investors supported by macroeconomic strength. The telecommunications, banking and energy sectors are generating gains. Hascol, Waves and TPL Properties are the most actively traded. The capital market continued … Read more
U.S. President Joe Biden delivers remarks during a launch event for the Global Alliance Against Hunger and Poverty during the G20 Summit at the Museum of Modern Art in Rio de Janeiro, Brazil, Monday, November 18, 2024 . WASHINGTON: US President Joe Biden has pledged a contribution of US$4 billion to the World Bank’s International … Read more
Secretary of the Ministry of Economic Affairs, Dr. Kazim Niaz, and ADB Country Director, Ms. Emma Fan, signed the loan agreement in a ceremony attended by senior officials of the government and the ADB. —APP Program to stimulate inclusive investments in disaster risk mitigation. Agreement signed after the nod from Minister of Economic Affairs Ahad … Read more
A pedestrian walks past the International Monetary Fund headquarters in Washington, DC. — AFP/File The IMF suggests strengthening the initial phase of budget preparation. The lender calls for the creation of stronger fiscal institutions. This requires strengthening revenue mobilization and administration. ISLAMABAD: The International Monetary Fund (IMF) has highlighted glaring flaws in Pakistan’s budget formulation … Read more
Tesla CEO Elon Musk walks next to a screen showing an image of the Tesla Model 3 car during an opening ceremony for the China-made Tesla Model Y program in Shanghai, China, 7 January 2020 . Tesla shares soared nearly 5% Monday after Bloomberg News reported that President-elect Donald Trump’s team plans to prioritize a … Read more
Prime Minister Shehbaz Sharif chairs a meeting to review the country’s overall economic situation on November 18, 2024. — Radio Pakistan Tax evaders will be brought to justice, Prime Minister Shehbaz promises. He orders the competent authorities to accelerate measures against tax evaders. Helping the population is the government’s absolute priority, reiterates the Prime Minister. … Read more
Representations of bitcoin are seen in this illustrative photo taken in Paris, France, March 9, 2024. —Reuters Bitcoin is up more than 25% since Trump’s victory. Congress and regulators are considered crypto-friendly. Miners are soaring on speculation that the United States is buying crypto stocks. SINGAPORE: Bitcoin was hovering at the $90,000 mark on Tuesday, … Read more
A representative image showing the seal of the International Monetary Fund (IMF) in Washington, DC, January 26, 2022. — AFP The IMF mission is in Islamabad from November 11 to 15. Finance Secretary, FBR chief begin first session with IMF. Revealing a mini-budget is a more viable option: official. ISLAMABAD: Finance Minister Mohammad Aurangzeb has … Read more