Bulls return to PSX, lifted by economic data, banking gains

Investor optimism returned to the equity market on Thursday as strong macroeconomic indicators, robust remittance inflows and stronger-than-expected government debt auctions fuelled gains in the banking sector, reversing losses from the previous session. The equity market bounced back on Thursday, led by gains in the banking sector and strong macroeconomic indicators, as investors reacted positively to record-high remittances and upbeat results from the government’s latest debt auctions. “Overall improvement in macroeconomic indicators is rerating the market with rise in banks leading the index. This rally will mature to form a…

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Pakistan to launch digital currency pilot soon

The State Bank of Pakistan (SBP) Governor Jameel Ahmad said on Wednesday that the central bank is preparing to launch a pilot for a digital currency and is in the final stages of preparing legislation to regulate virtual assets. This move comes as Islamabad ramped up efforts to modernise its financial system amid a rising global interest in blockchain-based payments, with central banks around the globe exploring the use of digital currencies. to drive virtual asset adoption By Reuters July 09, 2025 State Bank of Pakistan Governor Jameel Ahmad speaks at the Reuters…

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Remittances hit all-time high of $38.3bn in FY25

KARACHI: Workers’ remittances to Pakistan surged to an all-time high of $38.3 billion in fiscal year 2025, showing a robust 26.6% increase from $30.3 billion recorded in FY24, according to data released by the State Bank of Pakistan (SBP) on Wednesday. In June 2025, monthly inflows reached $3.4 billion, reflecting a 7.9% rise compared to the same month last year. year By Business Desk July 09, 2025 An employee of a bank counts US dollar notes. — Reuters KARACHI: Workers’ remittances to Pakistan surged to an all-time high of $38.3 billion…

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Dubai bank facilitates $1bn funding deal for Pakistan

The Ministry of Finance on Wednesday announced that a Dubai-based bank has arranged a $1 billion syndicated financing facility for Pakistan. The five-year financing arrangement has been facilitated through a consortium of international investors, reflecting growing confidence in the country’s economic reform programme. The financing is backed by a Policy-Based Guarantee from the Asian Development Bank (ADB), marking the first such transaction by the ADB for Pakistan. The facility, structured under Islamic principles, includes an 89% share compliant with Shariah law. According to the finance ministry, other banks based in…

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PSX stumbles amid global equity slump, weak oil prices

Investor caution returned to the equity market on Wednesday as global uncertainty, weak oil prices, and renewed concerns over Pakistan’s tax compliance regime unsettled trading. Market participants navigated a volatile session amid jitters over US trade policy and warnings from the Asian Development Bank (ADB) about gaps in tax enforcement. Rupee instability and falling global equities further amplified selling pressure across key sectors. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index settled at 132,576.98 points, down 826.21 points or 0.62%, from the previous close of 133,403.19. During the session, the…

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US sees surge in tariff revenue, eyes record $300bn haul this year

WASHINGTON: The US government has already collected about $100 billion in tariff income this year and expects the total to reach $300 billion by the end of this year. Treasury Secretary Scott Bessent on Tuesday said that most of the money is coming from new trade tariffs introduced by President Donald Trump, including a 10% duty on nearly all imports and higher charges on steel, aluminium and cars. Bessent told a White House cabinet meeting that the biggest jump in collections started in the second quarter, , when Trump implemented a…

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Siddiqui says Imran wants to bring his sons into politics

Pakistan Muslim League-Nawaz (PML-N) Senator Irfan Siddiqui claimed on Thursday that PTI founder Imran Khan wants to bring his sons into politics, saying that their Pakistan visit will not cause any political upheaval. “No storm will come if his children come to Pakistan,” Siddiqui said while downplaying PTI’s announcement that Qasim and Suleiman will join the party’s anti-government movement. Siddiqui’s remarks come just days after Imran’s sister Aleema Khan had said that the PTI founder’s UK-based sons, Qasim and Suleiman, plan to join an upcoming PTI protest movement. Talking to…

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Pakistan, Turkiye reaffirm commitment to boost ties, target $5bn trade volume

ISLAMABAD: Pakistan and Turkiye on Wednesday pledged to increase bilateral cooperation in various key sectors — including defence, trade, energy, culture, education, and infrastructure — aiming to enhance the trade volume to $5 billion. During a joint press conference of Deputy Prime Minister (DPM) Ishaq Dar with Turkish Foreign Minister Hakan Fidan, the two countries expressed satisfaction over the ongoing progress of the 12 joint standing committees established under the High-Level Strategic Cooperation Council (HLSCC). Turkish enterprises, says DPM Dar By APP July 09, 2025 Turkish Foreign Minister Hakan Fidan (left)…

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Pakistan’s actions to root out terrorism globally recognised, says Bilawal

Pakistan Peoples Party (PPP) Chairman and former foreign minister Bilawal Bhutto-Zardari categorically rejected the India’s allegations of patronising terrorist groups, saying that the country had successfully cleared the rigorous FATF process. In an interview with Indian journalist Karan Thapar, Bilawal said: “Pakistan does not willingly permit […] the groups you mentioned or any group to conduct terrorist attacks outside of Pakistan but also within Pakistan.” rigorous FATF process By TN Web Desk July 09, 2025 Pakistan Peoples Party Chairman Bilawal Bhutto-Zardari addresses a press conference. — AFP/File Pakistan Peoples Party (PPP)…

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Pakistan taps UAE expertise to modernise public sector

A top Pakistani delegation is in the United Arab Emirates (UAE) to boost cooperation on digital governance and reform, as part of Prime Minister Shehbaz Sharif’s push to modernise institutions and improve public service delivery. Bilal Azhar Kayani, Minister of State for Finance and Railways and Head of the Prime Minister’s Delivery Unit, is leading the delegation. The visit is being held under the framework of the UAE Government’s Experience Exchange Programme (EEP). It aligns with the Government of Pakistan’s broader agenda to accelerate institutional reforms, enhance service delivery, and…

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