Category: bussines

The stock market began the week on a cautious note on Monday, with investors locking in gains from last week’s record-breaking surge as renewed worries over revenue shortfalls and a widening trade gap tempered sentiment. “The market, after a phenomenal run, has now run into some selling pressure and resistance. The major factors leading investors to take profits include the recent miss in the FBR collection, an increasing trade deficit, and, to a lesser extent, rising inflation,” said Ahfaz Mustafa, CEO of Ismail Iqbal Securities. “We have not seen any…

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Pakistan has posted one of the sharpest declines in default risk among Emerging Market (EM) economies, said Khurram Schehzad, adviser to the finance minister, on Sunday. Citing a Bloomberg report in his post on X, Schehzad said that the country recorded a 22% reduction in sovereign default risk over the last 15 months (from June 2024 to September 2025) as measured by CDS-implied default probability. With the 22% drop, Pakistan ranks just behind Turkiye (28%) in EM rankings in default risk reduction, he added. This is also the sharpest decline among major…

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Bitcoin, the world’s largest cryptocurrency by market value, hit a record high on Sunday and reached $125,689. Bitcoin’s previous record was $124,480 in mid-August, buoyed by friendlier regulations from US President Donald Trump’s administration and strong demand from institutional investors. The cryptocurrency had risen on Friday for an eighth straight session, bolstered by recent gains in US equities and inflows into bitcoin exchange-traded funds. In contrast, the US dollar retreated on Friday, posting multi-week losses against major currencies, as uncertainty surrounding a US government shutdown clouded the outlook and delayed…

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Billionaire Elon Musk, the world’s richest person, is nearly halfway to becoming the planet’s first trillionaire, Forbes magazine reported Wednesday. The Tesla and SpaceX CEO became the first person to achieve a net worth of $500 billion, briefly, as the shares in his electric vehicle company rebounded from his clumsy stint in politics, amid other gains. The 54-year-old’s net worth hit $500.1 billion Wednesday before dipping back to $499.1 billion, the publication’s “Real-Time Billionaires” tracker reported. Ranked after him are Oracle CEO Larry Ellison with a net worth of $350.7…

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Fear of missing out and heavy mutual fund participation carried the equity market to record levels on Thursday, with analysts noting that investors continue to prefer stocks over weaker-performing alternatives. “Liquidity from mutual funds is driving up the index. There is FOMO (fear of missing out) and disbelief of a correction,” said AAH Soomro, an independent investment and economic analyst. “Economic sentiment is positive after improving US ties also. Mid caps with growth triggers are beginning to rerate,” he added. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index settled at…

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Minister for Finance and Revenue Muhammad Aurangzeb has said that the government’s ongoing negotiations with the International Monetary Fund (IMF) are heading in the “right direction”. Expressing his satisfaction over the pace of talks with the Washington-based lender, the finance czar said that negotiations with the global lending institution are progressing ‘positively’. Speaking to the media in Islamabad on Wednesday, he said that the government is confident of boosting Pakistan’s tax-to-GDP ratio to 11%. Mentioning several pending tax-related cases in courts, he hoped that such cases would increase the Federal…

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US job openings increased marginally in August while hiring declined, consistent with lackluster labour market conditions that could allow the Federal Reserve to cut interest rates again next month despite resilient consumer spending. Households are also growing pessimistic about the labour market. A survey from the Conference Board on Tuesday showed the share of consumers viewing jobs as “plentiful” fell this month to the lowest level since early 2021. There were 0.98 job openings for every unemployed person in August, compared to 1.0 in July. The labour market has almost stagnated amid slowing demand for workers, with…

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ISLAMABAD: In a bid to facilitate taxpayers, the Federal Board of Revenue (FBR) on Tuesday extended the income tax return filing deadline by 15 days. In a statement, the FBR said that the deadline had been extended in view of the request from various trade bodies, taxpayers, and tax bar associations. Now, income tax returns for tax year 2025 can be filed till October 15. “This decision has been made under Section 214A of the Income Tax Ordinance, 2001. The extension in the deadline has been granted in response to…

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The federal government has hiked the price of petrol by Rs4.07 per litre for the next fortnight, starting from October 1. According to a notification issued by the Finance Division, the revised prices are based on recommendations by the Oil and Gas Regulatory Authority (Ogra) and concerned ministries. With the latest increase, petrol will now cost Rs268.68 per litre, up from Rs264.31. The price of high-speed diesel (HSD) was also raised by Rs4.04, bringing it to Rs276. 18 from Rs272.77 per litre, read the notification. Products Existing prices New prices…

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ISLAMABAD: The Federal Board of Revenue (FBR) on Tuesday said taxpayers must file their income tax returns by midnight tonight, reiterating that the deadline for the 2025 tax year will not be extended. In a statement, the FBR said the filing window officially closes at 12am, after which those who fail to comply will be treated as late filers under the law. The authority clarified that non-filers will face penalties in accordance with existing legal provisions. The tax authority emphasised that taxpayers can conveniently submit their returns using the newly…

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