Category: bussines

The Pakistan Stock Exchange (PSX) wrapped up the week lower, with investors booking profits after a sustained period of gains. PSX’s benchmark KSE-100 index on Friday closed at 145,382.79 points after a drop of 264.34 points or 0.18%, down from the previous session’s close of 145,647.13 points. Samiullah Tariq, Head of Research at Pak-Kuwait Investment Company, attributing the decline to profit-taking, noted: “The market was continuously increasing for some days.” The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index climbed to an intraday high of 146,813.43 points, gaining 1,166.30 points, or…

Read More

Indian exporters warned on Thursday that the cost of additional US tariffs risked making businesses “not viable” after President Donald Trump ordered steeper levies totalling 50% on imported Indian goods. Prime Minister Narendra Modi said he was willing to “pay a great personal price”, while opposition Congress party leader Rahul Gandhi called the levies “economic blackmail” and “an attempt to bully India into an unfair trade deal”. Stocks opened marginally lower on Thursday, with the benchmark Nifty index down 0.31% after an initial 25% US tariff came into effect. That…

Read More

ISLAMABAD: The electricity prices have been reduced by Rs1.89 per unit under the quarterly tariff adjustment for the period April to June 2025, the National Electric Power Regulatory Authority (Nepra) notified on Thursday. The power regulatory authority forwarded its decision to the federal government for final notification. Once notified, the revised tariff will apply to all power distribution companies (Discos), including K-Electric consumers. — Reporter The adjustment will be shown in the August bills, the notification stated. The price cut will be effective for three months, from August to October…

Read More

Commerce Minister Jam Kamal Khan has sought to dispel the impression that Pakistan’s exports will take a hit of $1 billion due to 19% tariff imposed by the US. In his response submitted to the National Assembly, the commerce minister said the US has slashed the tariff on Pakistani goods from 29% to 19%. The reduction in tariff will lead to increase in the sales of Pakistani products in the US market and likely to boost Pakistan’s textile exports, he maintained. The response came as Trump’s higher tariff rates of…

Read More

The equity market soared past 146,000 mark on Thursday, fuelled by strong corporate earnings, stable policy signals, and renewed investor appetite. “Continued optimism for improving macros and improving corporate results are driving sentiment,” said Ahfaz Mustafa, CEO of Ismail Iqbal Securities. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index climbed to an intraday high of 146,081.02 points, gaining 992.53 points, or 0.68%, while touching a low of 145,250.17 points, up 161.68 points, or 0.11%, from the previous close of 145,088.49. In the fixed income market, the government raised Rs370 billion…

Read More

WASHINGTON: US President Donald Trump on Wednesday ordered an additional 25% tariff on Indian goods over New Delhi’s continued purchase of Russian oil, a key revenue source for Moscow’s war in Ukraine. The tariff, set to take effect in three weeks, comes on top of a separate 25% duty entering into force on Thursday, according to the text of the executive order released by the White House. The order also threatens potential penalties on other countries deemed to be “directly or indirectly importing Russian Federation oil.” Exemptions remain for items…

Read More

A surge of institutional buying and sector-specific optimism propelled the equity market to fresh highs on Wednesday, with the benchmark index breaching the 144,000 mark amid renewed investor confidence in oil, remittances, and fiscal liquidity. “There’s been a flurry of good news and the index has broken out from technical resistance of 140. This has induced a fresh wave of buying especially in the oil sector (due to payments to OGDC),” said Ahfaz Mustafa, CEO of Ismail Iqbal Securities. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index rose by 2,051.33…

Read More

Businesses spanning various sectors reported fresh strain from US President Donald Trump’s ongoing tariff war, as major players like Caterpillar and Marriott on Tuesday flagged falling demand and rising operational costs. All told, global companies that have reported earnings so far this quarter are looking at a hit of around $15 billion to profits in 2025, Reuters’ global tariff tracker shows. A majority of these come from industrial, manufacturing and automotive sectors, while financial and tech sectors are less affected. Trump has said the tariffs are necessary to resolve US…

Read More

KARACHI: Robust corporate outlooks lifted the bourse on Tuesday amid strong interest in cement stocks and renewed confidence following a drop in power sector arrears. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index settled at an all-time high of 143,037.16 points, up 984.52 points, or 0.69%, from the previous close of 142,052.64. During the session, the index climbed to an intraday high of 143,059.81, gaining 1,228.7 points, or 0.86%, while touching a low of 142,235.71, reflecting an increase of 183.07 points, or 0.13%. “Market rising in anticipation of better than…

Read More

Iran’s parliamentary economic commission on Sunday revived stalled plans to remove four zeros from its falling currency in a bid to streamline financial transactions. “Today’s meeting of the economic commission approved the name ‘rial’ as the national currency, as well as the removal of four zeros,” said the parliament’s website ICANA, quoting Shamseddin Hosseini, the commission’s chairman. Under the proposed system, one rial would be equivalent to 10,000 at the current value and subdivided into 100 gherans, according to ICANA. The proposed redenomination was first mooted in 2019 but then…

Read More