Category: bussines

ISLAMABAD: Despite disruptions caused by recent severe floods, the country’s economy maintained its trajectory of stabilisation and growth during the first two months of the current fiscal year, the finance ministry reported on Tuesday. Economy showed stability supported by moderating inflation, strong large-scale manufacturing (LSM), and improved fiscal discipline, according to the “Monthly Economic Update and Outlook” for September 2025 issued by the Finance Division. Industrial momentum strengthened with the LSM sector posting 9% year-on-year growth in July, led by textiles, automobiles, and cement, it added. Cement dispatches rose over…

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The capital market broke more records on Tuesday, surpassing 166,000 points for the first time, as upbeat economic signals and strong foreign ties sustained investor confidence. “Stocks reached a new all-time high at the quarter-end close as investors weighed upbeat Pak–US relations,” said Ahsan Mehanti, Managing Director and CEO of Arif Habib Commodities. “Resolve over Rs1.225 trillion circular debt, and rupee stability on Saudi FDIs commitments following the Pak–Saudi defence pact played a catalyst role in record bullish activity at PSX,” he added.   The Pakistan Stock Exchange’s (PSX) benchmark…

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Videogame giant Electronic Arts will be taken private in a record-breaking $55 billion leveraged buyout by a consortium consisting of private equity firm Silver Lake, Saudi Arabia’s Public Investment Fund and Jared Kushner’s Affinity Partners, the company said Monday. The deal for the maker of “Battlefield” underscores how deep-pocketed investors are betting on the enduring value of blockbuster game franchises as the industry recovers from a prolonged downturn. It would be the largest leveraged buyout on record, eclipsing TXU Energy’s 2007 takeover and other landmark transactions of that decade, including…

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Investors powered the Pakistan stock market to new heights on Monday, driving the KSE-100 Index beyond 163,000 for the first time in history, as optimism over stabilising fundamentals and deepening foreign ties fuelled another record close. “The effects of the floods seem milder than expected; therefore, the inflation numbers will remain well within range. This, coupled with the reported conversion of fixed income investment to equity, is causing the market to rerate,” said Ahfaz Mustafa, CEO of Ismail Iqbal Securities. “The macro front and the reduced risk of rollover due…

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KARACHI: Dairy farmers in Karachi urged the government to approve a Rs50 per litre hike in milk price, citing heavy losses caused by recent floods. Addressing a press conference at the Karachi Press Club, Dairy Farmers Association leaders said recent floods had severely impacted Karachi’s dairy farmers. “The rates of almost every item used in the dairy industry have risen by nearly 30%,” they said, warning that if the trend continued, there was a risk of animals starving to death. The dairy farmers said they were already suffering losses of…

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US trade officials have informed their Indian counterparts that cutting back on Russian oil imports is key to lowering India’s tariff rates and finalising a trade agreement, sources familiar with the talks told Reuters. A US official said the trade discussions are moving in a positive direction, but more effort is needed. The official highlighted that India still needs to address US concerns on market access, the trade deficit, and its Russian oil purchases. US President Donald Trump has sought to pressure India, the European Union and members of NATO…

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ISLAMABAD: Federal Power Minister Awais Leghari said on Friday that Pakistan’s circular debt would be wiped out within six years under a landmark financing pact with 18 banks, clinched on favourable terms that place no extra burden on consumers. Addressing a press conference, the minister strongly criticised the previous government for worsening the circular debt problem. He stated that when the Pakistan Muslim League-Nawaz (PML-N) left office in 2018, the debt stood at Rs1,100 billion; however, it surged to Rs2.28 trillion by 2022, during the PTI-led government’s tenure. Leghari termed…

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ISLAMABAD: The Federal Board of Revenue (FBR) has removed the column requiring taxpayers to declare the “estimated market value” of their assets from the income tax return form on the directions of Prime Minister Shehbaz Sharif forthe  facilitation of taxpayers. The prime minister constituted a committee, chaired by Federal Minister for Law Senator Azam Nazeer Tarar, to examine the new column introduced by FBR in the IRIS tax return requiring tax filers to declare the estimated fair market value of moveable and immovable assets, assess its implications for the tax…

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WASHINGTON: US President Donald Trump announced Thursday, punishing tariffs on pharmaceuticals, big-rig trucks, home renovation fixtures and furniture, reviving his global trade war. The late evening announcement is the harshest trade policy by the president since last April’s shock unveiling of reciprocal tariffs on virtually every US trading partner across the globe. Starting October 1, “we will be imposing a 100% Tariff on any branded or patented Pharmaceutical Product, unless a Company IS BUILDING their Pharmaceutical Manufacturing Plant in America,” the Republican wrote on his Truth Social platform. In a…

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