Category: bussines

LONDON: Widely known crypto currency Bitcoin reached all-time high value by surging past $109,000 on Monday ahead of United States President-elect Donald Trump’s inauguration. With Trump signalling plans to deregulate the cryptocurrency sector, prepares to be sworn in as US president, Bitcoin surged to reach an all-time peak of $109,241 ahead of Trump’s inauguration ceremony, before falling back to $107,765. The world’s biggest cryptocurrency has soared since Trump won the presidential election in November, with Bitcoin surpassing $100,000 for the first time in early December. It came after he nominated…

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The stock market started the week on a positive trajectory, buoyed by easing political uncertainty, improving macroeconomic indicators, easing inflation, and expectations of a supportive monetary policy. Investor sentiment also drew strength from a robust current account surplus and plans to strengthen Pakistan’s presence in international financial markets. Sentiment was further buoyed by the conviction of former Prime Minister Imran Khan and his wife, Bushra Bibi, in a long-awaited verdict last Friday, which provided a sense of closure and lowered political temperature. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index closed…

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The federal government has planned to launch Panda Bond by June this year to increase Pakistan’s footprint in Chinese equity markets, Finance Minister Muhammad Aurangzeb said. “Pakistan plans to raise approximately $200 million from Chinese investors through the issuance of the Panda Bond,” the finance minister said in an interview with a Hong Kong news channel. His remarks come as the Prime Minister Shehbaz Sharif-led government strives to expand the tax net and increase revenue generation to fulfil the conditions and targets set out by the International Monetary Fund (IMF)…

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The International Monetary Fund (IMF) has lowered Pakistan’s gross domestic product (GDP) growth forecast for 2025 to3% from the previous projection of 3.2% in October 2024. Meanwhile the country’s GDP growth to remain at 4% in 2026, as per the IMF’s “World Economic Outlook Update Global Growth: Divergent and Uncertain” report. The lender’s growth projection is similar to that of the Asian Development Bank (ADB) which last month revised Pakistan’s growth forecast to 3% during the fiscal year 2024-25 as opposed to the previous figure of 2.8% projected in September 2024.…

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KARACHI: The Sensitive Price Indicator (SPI) for the week ending January 16 recorded a year-over-year increase of 1.16%, the lowest rate in many months, further easing inflationary pressures in Pakistan. The Pakistan Bureau of Statistics (PBS) data revealed that the SPI decreased by 0.39% on a weekly basis, indicating falling prices in important food categories. Tomatoes led the weekly price declines, plunging 18.31%, followed by potatoes (-10.42%), onions (-10.01%), and eggs (-8.64%). Other notable decreases included chicken (-2.17%), liquefied petroleum gas (-1.21%), and mustard oil (-0.67%). However, the week saw…

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The capital market surged on Friday, driven by clarity on the political front and robust economic indicators. Investor confidence soared following the long-anticipated verdict in the £190 million case, delivered by an accountability court against former prime minister Imran Khan and his wife, Bushra Bibi, which brought an end to weeks of uncertainty and speculation. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index surged 1,519.38 points, or 1.33%, to reach an intraday high of 115,356.12. By midday, the index demonstrated resilience, driven by an improving balance of payments position and…

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KARACHI: TPL Properties has unveiled its ambitious new project, The Mangrove, a modern residential and commercial development spanning 70 acres in Karachi. Designed to blend nature with urban sophistication, the project aims to set new benchmarks in construction by adhering to global standards. The soft launch ceremony, held at a local hotel in Karachi, was attended by TPL Group CEO Ali Jameel, TPL RMC CEO Jamal Baqir, as well as senior banking officials, industrialists, and business leaders. During the event, Ali Jameel emphasised the company’s commitment to innovation and excellence,…

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The State Bank of Pakistan (SBP) on Thursday said that the United Arab Emirates (UAE) has confirmed rollover of its two deposits of $1 billion each for another year. The deposits were maturing in January 2025. Prime Minister Shehbaz Sharif had confirmed on Tuesday that the Gulf nation rolled over a $2 billion loan deposit, granting Pakistan a substantial fiscal respite. PM Shehbaz had met UAE President Sheikh Mohamed bin Zayed Al Nahyan in Rahim Yar Khan, where the Gulf nation’s top leader proposed rolling over the loan. “He happily…

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KARACHI: TPL Properties has unveiled its ambitious new project, The Mangrove, a modern residential and commercial development spanning 70 acres in Karachi. Designed to blend nature with urban sophistication, the project aims to set new benchmarks in construction by adhering to global standards. The soft launch ceremony, held at a local hotel in Karachi, was attended by TPL Group CEO Ali Jameel, TPL RMC CEO Jamal Baqir, as well as senior banking officials, industrialists, and business leaders. During the event, Ali Jameel emphasised the company’s commitment to innovation and excellence,…

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KARACHI: Ideas by Gul Ahmed has launched its largest flagship store in Karachi, combining traditional craftsmanship with modern innovation. This expansive retail space, located at Dolmen Mall Clifton, spans 30,000 square feet and aims to redefine the shopping experience in Pakistan by offering a blend of premium fashion, home décor, and lifestyle products. Incorporating modern retail practices, the store is designed with wide walkways, interactive displays, and state-of-the-art fitting rooms to enhance customer convenience and comfort. The clean, open layout fosters a stress-free shopping environment. The store’s grand opening attracted…

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