Business
The gold market witnessed a major correction on Thursday, reversing its upward trend both globally and in Pakistan. The All Pakistan Sarafa Gems and Jewellers Association reported that the price of 24-karat gold per tola dropped by Rs4,100 to Rs384,000. Prices for 10 grams fell by Rs3,
Business
The Pakistan Stock Exchange (PSX) carried forward its bullish momentum on Thursday, with the benchmark KSE-100 gaining nearly 600 points in early trading. The index climbed to 157,603.90 points at 9:35am, up 583 points or 0.37%. Strong demand for banking, energy, and cement stocks drove
Business
Shanghai Electric Power’s decision to abandon its $1.77 billion bid for K-Electric signals rising investor frustration with Pakistan’s energy sector. The acquisition was meant to transfer control of KE from KES Power Ltd to SEP, giving the Chinese company 66.4% ownership in Pakistan’s only
Business
The record-breaking rally in gold prices has left many buyers sidelined in Pakistan, with jewellery markets reporting lower footfall even as rates held steady on Wednesday. According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold stood at Rs388,100 per tola
Business
The State Bank of Pakistan (SBP) has come under scrutiny after the Auditor General of Pakistan reported financial irregularities exceeding Rs243 billion in its 2022–23 audit. The report pointed to risky financial decisions, including selling securities at a loss of Rs105 billion and depositing funds abroad that resulted in
Business
The Pakistani rupee traded largely unchanged against the US dollar on Tuesday, offering some relief to importers and businesses facing cost pressures. The greenback stood at Rs 282.9 in the open market, with a selling rate of Rs 283.70. Currency traders said the steady performance reflected strong regulatory
Business
The Pakistan Stock Exchange (PSX) witnessed selling pressure in early trade on Wednesday, snapping its recent positive momentum. By 9:40am, the benchmark KSE-100 Index stood at 156,181.72, marking a decline of 381.80 points, or 0.24%. Investors offloaded shares in sectors including cement, banking, energy,
Business
Global uncertainty and market volatility have pushed Pakistani investors to turn to gold and silver, driving both metals to record-breaking levels. On Tuesday, 24-carat gold reached Rs 388,100 per tola, up by Rs 4,100. Ten grams climbed to Rs 332,733. The 22-carat variant also
Business
Chairman Economic Policy and Business Development (EPBD) think tank Gohar Ejaz has strongly opposed repeated calls for rupee devaluation, stressing that the real solution to Pakistan’s economic challenges lies in building export competitiveness rather than relying on currency depreciation. In a bold move aimed at revitalizing Pakistan’s industrial
Business
The Pakistan Stock Exchange continued its bullish momentum on Tuesday, fuelled by robust remittances and positive global cues. The benchmark KSE-100 index rose by over 600 points in the opening minutes, hovering at 156,732.92 by 9:40am. The rally extended Monday’s record close, when the market
Business
The global gold rally has pushed Pakistan’s bullion market to record levels, with prices touching their highest point ever. The All Pakistan Sarafa Gems and Jewellers Association reported a Rs6,100 surge in 24-carat gold per tola, taking it to Rs384,000. Prices for 10 grams also spiked
Business
The Pakistan Stock Exchange (PSX) soared to new records on Monday, with the KSE-100 Index crossing the 155,000 mark in early trading. By 10am, the index had climbed 1,274.76 points or 0.83% to reach 155,551.95. Gains were led by cement, banking, and energy