Category: bussines

ISLAMABAD: The World Bank is likely to approve $20 billion for Pakistan over a 10-year period for improving the country’s key sectors, sources told Geo News on Saturday. Sources within the Ministry of Economic Affairs have said that the loan will be part of the World Bank’s support under the Country Partnership Framework 2025-35, which focuses on sustainable economic development. The loan is expected to be approved by the WB’s Board of Directors on January 14. Once approved, Martin Raiser, the lender’s Vice President, is expected to visit Islamabad to discuss the…

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KARACHI: The country’s short-term inflation, measured by the Sensitive Price Indicator (SPI), saw a marginal decline of 0.26% for the week ending on January 2, 2025, according to data released by the Pakistan Bureau of Statistics (PBS) on Friday. Year-on-year inflation for the same week recorded a 3.97% increase, reflecting persistent price pressures despite the weekly decline. Among food items, tomato prices dropped significantly by 13.48%, followed by reductions in electricity charges for Q1 (7.48%), potatoes (5.59%), and several pulses, including gram (-0.34%) and mash (-0.05%). Marginal declines were also…

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LONDON: Bank Morgan Stanley said on Thursday it had decided to leave the Net-Zero Banking Alliance, becoming the latest US lender to quit the sector’s top global climate coalition. While the bank gave no reason for its decision, top banks have been under pressure from some US Republican politicians over their membership, with accusations that any move to limit finance to fossil fuel companies could breach antitrust rules. Despite leaving the NZBA, Morgan Stanley said in a statement that its commitment to helping the world transition to net-zero carbon emissions…

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The stock market witnessed a volatile trading session on Friday, as investor sentiment wavered between optimism over easing inflation and concerns about rising trade deficits and tax shortfalls. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index initially climbed 703.94 points, or 0.6%, to reach an intraday high of 117,823.59. However, profit-taking and cautious sentiment soon pulled the index down to an intraday low of 115,580.01, representing a decline of 1,539.64 points, or -1.31, from the previous close of 117,119.65. Prime Minister Shehbaz Sharif, addressing the 11th Apex Committee meeting of…

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The capital market began the second trading session of the New Year on a strong note, surpassing 118,000 points for the first time ever. Investor confidence was buoyed by easing inflation, improving macroeconomic indicators, and optimism surrounding the government’s reform agenda. Positive sentiment has been further bolstered by recent revenue collection efforts and the unveiling of a comprehensive economic transformation plan aimed at driving growth through investments and exports. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index climbed 1,359.73 points, or 1.16%, during early trading on Thursday, reaching an intraday…

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Bitcoin more than doubled in 2024, spurred by the US market regulator’s approval of exchange-traded funds (ETFs) linked to its spot price and growing optimism over reduced regulatory hurdles as Donald Trump prepares to return to the White House. Last month, the world’s largest cryptocurrency surged past the $100,000 mark, a landmark achievement that has ignited ‘animal spirits’ among advocates of this now mainstream asset class. A more than 120% surge in bitcoin in 2024 and a nearly 50% jump in ether, the second-largest cryptocurrency, have propelled the sector’s market…

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The Pakistan Stock Exchange (PSX) opened the first trading day for the year on a strong note, buoyed by fresh allocations and optimism surrounding the federal government’s recently announced economic transformation plan, “Uraan Pakistan.” The benchmark KSE-100 Index climbed 1,866.52 points, or 1.62%, to reach an intraday high of 116,993.42. While briefly dipping to an intraday low of 114,719.89, the market maintained its upward trajectory. Investors were further encouraged by signs of improving fiscal health, as better-than-expected tax collection numbers hinted that additional taxation measures might not be necessary. “As…

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