The Pakistan Stock Exchange gained fresh momentum on Tuesday, echoing strong performances in global markets. The KSE-100 Index surged nearly 950 points to trade at 156,333.45 in early hours, continuing Monday’s bullish trend. Key local sectors led the way, including banking, energy, and cement. Heavyweights such as OGDC, HUBCO, POL, and UBL supported the rally,…
Financial technology is modifying how we handle our money in today’s fast-paced environment. It’s hardly surprising that more and more individuals are looking for quick and easy ways to access their money, given the emergence of creative apps and services. The question “Does Possible Finance work with the Cash App?” is one that frequently comes…
By: Omed Hajjana The Mutual Funds Association (MFA) has proposed to the government the introduction of Sharia-Compliant Short Term Sukuk. A joint delegation from the Pakistan Stock Exchange and the Mutual Funds Association met with Finance Minister Muhammad Ishaq Dar at the FBR headquarters in Islamabad. The Pakistan Stock Exchange was represented by its Managing…
The tobacco industry says that the recent increase in taxes for tax-paying tobacco companies will help the already large number of illegal cigarette makers in Pakistan. A spokeswoman for Philip Morris Pakistan Ltd. said that the proposed unprecedented tax hike for the tax-paying tobacco companies will effectively favor the already vast illicit cigarette manufacturers in…
Right after Saudi Arabia, the United Arab Emirates (UAE) stepped in to save Pakistan by agreeing to rollover the existing $2 billion loan and giving an extra $1 billion loan. United Arab Emirates concurred at a meeting between Prime Minister Shahbaz Sharif and the UAE President (UAE). The UAE President decided to renew the existing…
The Pakistani rupee continued to decline against the US dollar on the interbank market on Tuesday, gaining 1 rupee to close at 217.65 rupees. However, on the open market, it increased by Rs 3 and is currently trading around Rs 223. During Tuesday’s intraday trading on the interbank market, the Pakistani rupee continued to lose…
ISLAMABAD, August 18: The Securities and Exchange Commission of Pakistan (SECP) has introduced registration regime for digital-only insurers and dedicated microinsurers. This will promote digitalization and improve customer convenience through instant provision of services. In this regard, amendments to the Insurance Rules, 2017 have been notified vide SRO 1513(I)/2022. The new framework is aimed at…
Peshawar- On August 3 and 4, U.S. Ambassador Donald Blome visited Khyber Pakhtunkhwa (KP) to highlight the U.S. government’s extensive economic and development assistance, which has benefited Khyber Pakhtunkhwa residents over the past 75 years of bilateral relations. Ambassador Blome met with Chief Minister Mahmood Khan during his trip and emphasized the United States’ desire…
During intraday trade on the interbank market on Tuesday, the Pakistani rupee against dollar hit a new low, keeping the financial market on edge in the midst of an ongoing political crisis. The local unit is currently trading at 233 on the interbank market, up from 229.88 a day ago. According to The News, since…
Nearly half of Pakistan’s budget will go to paying interest on domestic and foreign debt totalling Rs 3.9 trillion in the upcoming fiscal year 2022-23. In the current fiscal year, the government has allocated Rs 3.059 trillion for mark-up payments on domestic and foreign debt. According to revised estimates, actual payments amounted to Rs 3.143 trillion…