Day: July 10, 2025

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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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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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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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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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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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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