Category: bussines

Investor confidence soared on Tuesday as Pakistan’s equity market extended its blistering rally, lifted by a combination of renewed calm following the Pakistan-India ceasefire, a substantial funding boost from the International Monetary Fund (IMF), and anticipated income tax relief in the upcoming federal budget. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index climbed to an intraday high of 120,067.12 points, up 2,769.39 points, or 2.36%, from the previous close of 117,297.73. The 100 Index had previously hit a high of 120,796 on April 4. “Early trade is showing the continuation…

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SHANGHAI: China’s top online shopping companies, Alibaba and JD.com, are quickly expanding into instant retail — where deliveries arrive within 30 to 60 minutes. However, this push for speed is coming at a high price, as they offer big discounts to attract customers and compete for market share. Investors will be dissecting the strategy when JD.com reports its quarterly earnings on Tuesday and Alibaba on Thursday, as finding new avenues for growth has proven challenging for China’s largest online retailers. Their market penetration is already high and prices for goods…

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Finance Minister Mohammad Aurangzeb said Monday that Pakistan’s existing fiscal space is sufficient to absorb the recent military conflict with India, and a fresh economic review would not be necessary. “The recent military escalation with arch-rival India won’t have a large fiscal impact on Pakistan and can be managed within the current fiscal space, with no need for a new economic assessment,” Auragzeb said in an interview with Reuters. “Trade talks with the United States, which had played a key role mediating a ceasefire between the two countries, would likely have…

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Defence Minister Khawaja Asif said on Monday that the government was weighing a joint venture for The Roosevelt Hotel in New York, aiming to secure long-term financial returns from the Pakistan International Airlines-owned property. “While selling the 19-storey property may offer short-term gains or help repay some debt, a joint venture would preserve the asset and generate sustained value,” he argued during the question hour at the National Assembly. Asif highlighted that the hotel’s prime location, with two entrances and central positioning, made it a unique piece of real estate,…

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The Pakistan Stock Exchange (PSX) witnessed a strong surge on Monday as easing tensions between Pakistan and India spurred investor optimism, pushing the benchmark KSE-100 index up by over 9%. The benchmark KSE-100 index surged to 117,104.11 points after a surge of 9,928 points during intra-day trade — the highest day-on-day increase in points on an intra-day basis — up from the previous close of 107,174.63 points. The positive momentum was driven by two major developments: the ceasefire agreement between Pakistan and India, and the International Monetary Fund’s (IMF) approval…

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KARACHI: In April 2025, Pakistan saw an inflow of $3.2 billion in workers’ remittances, according to the latest figures published by the State Bank of Pakistan (SBP) on Friday. While inflows rose 13.1% compared to the $2.81 billion received in April last year, they were down 22% from March, when remittances stood at $4.1 billion. During the first ten months of the current fiscal year (Jul-Apr FY25), total remittances rose 31% to $31.2 billion, up from $23.9 billion in the same period last year. Remittances are a key source of…

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Investor sentiment saw a turnaround on Friday, with the stock market clawing back yesterday’s losses, as a lack of fresh escalation on the geopolitical front offered much-needed relief. “After falling sharply by 6% yesterday due to drone attacks, Pakistani stocks have recovered and are up 2% in the first 30 minutes of trading on Friday,” said Topline Securities CEO Mohammad Sohail. “So far, there has been no news of any major escalation helping in restoring confidence,” he added. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index climbed to an intraday…

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Bitcoin topped $100,000 on Thursday for the first time since early February, bolstered by a wide-ranging deal between the United States and the United Kingdom in a sign that perhaps U.S. President Donald Trump’s trade war with the rest of the world is easing. By midday, bitcoin was trading at $101,329.97, a 4.7% gain on the day. The world’s biggest cryptocurrency has clawed its way back into positive territory for the year. Although it remains below the record high of more than $109,000 reached in January, just a few hours…

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The stock market witnessed a volatile session on Thursday, as renewed fears of military retaliation between Pakistan and India dragged the market into negative territory. The wave of panic selling drove the market sharply lower, triggering a regulatory circuit-breaker. “The nervousness is likely to continue until both countries put an end to tit for tat. At this point, Pakistan is intending to retaliate, and India’s reaction to that will determine outlook,” said AAH Soomro, an independent investment and economic analyst. “Thankfully, the US has intervened, and both countries’ National Security…

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WASHINGTON: While keeping interest rates unchanged on Wednesday, the Federal Reserve stated that the threats of increased unemployment and inflation had increased, further obscuring the US economy as its decision-makers deal with the effects of President Donald Trump’s tariffs. It is unclear at this moment whether the economy will maintain its current rate of growth or falter due to growing uncertainty and a potential impending inflation increase, said Fed Chair Jerome Powell. With so much unsettled about what Trump will ultimately decide and what of that survives possible court and…

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