Pakistan’s KSE-100 index crosses 116,000 points mark again
KARACHI: Pakistan’s KSE-100 index continued its momentum marking an impressive gain of 1300 points on Wednesday as investors expressed confidence after the State Bank of Pakistan (SBP) reduced the policy rate. The PSX benchmark KSE-100 Index continued yesterday’s rally and 1300 points during the opening hours of trading on Wednesday.
PM Shehbaz praises 10-year high $729m current account surplus
WEB DESK: Prime Minister Shehbaz Sharif expressed his satisfaction on Tuesday as Pakistan recorded a remarkable $729 million current account surplus in November 2024, marking the highest surplus in a decade. This achievement reflects the government’s ongoing efforts to manage the country’s economic challenges and signals a positive shift in
Pakistan’s IT exports drop, ending year-long growth
WEB DESK: Pakistan’s IT exports dipped for the first time in just over a year, breaking a trend of 13 consecutive months of growth. According to the State Bank of Pakistan (SBP), IT exports in November 2024 decreased by $6 million from October, falling by 2 per cent month-on-month. IT
State Bank of Pakistan announces major cut in interest rate
The State Bank of Pakistan (SBP) has announced a 2 per cent reduction in the interest rate.
Pakistan Stock Exchange regains 115,000 points limit
ISLAMABAD: Bulls once again displayed their horns at the Pakistan Stock Exchange (PSX) on Monday after it dropped to close at 114,301.80 points on the last day of the weekend. During early trading, the benchmark KSE-100 Index soared by 1,525.14 points, or 1.33%, reaching an intraday high of 115,826.94 from
State bank’s forex reserves rise to $12.05 billion
KARACHI: The State Bank of Pakistan’s (SBP) foreign exchange reserves recorded a modest increase of $13 million during the week ending December 6, reaching $12.05 billion, according to data released on Thursday. The nation’s total liquid foreign reserves now stand at $16.60 billion, comprising $4.55 billion held by commercial banks.
Saudi development fund renews $3 billion deposit for Pakistan
WEB DESK: The Saudi Development Fund has extended the 3 billion dollar deposit for another year, according to the State Bank of Pakistan the term of the dollar deposit was expiring today. According to the State Bank, the third expansion of the 3 billion dollar deposit received in 2021 is
Pakistan’s liquid foreign reserves surge to $16.62 billion
KARACHI: Pakistan’s total liquid foreign exchange reserves reached $16,620 million as of November 29, 2024, including the net foreign reserves of $4,581.7 million held by the commercial banks. Foreign reserves held by the central bank this year stood at $13,996.3, data released by the State Bank of Pakistan (SBP) revealed
Deadline for Hajj applications may extend due to low submissions
The deadline for Hajj applications is likely to be extended, according to various media reports.
Pakistan receives $500 million ADB loan to tackle climate change crisis
ISLAMABAD: The State Bank of Pakistan has received a $500 million loan from the Asian Development Bank, a statement said. According to SBP, this amount will be added to the foreign exchange hold next week. “This amount is being given by the ADB to deal with the effects of climate
