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Diageo will close its Crown Royal bottling plant in Amherstburg, Ontario, by February 2026, leaving about 160 workers facing an uncertain future. The announcement came Thursday as the company confirmed plans to streamline its North American supply chain. The facility, which has operated for nearly a century, is Amherstburg’s largest employer. Crews at the plant …
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Ssense is filing for bankruptcy protection after creditors attempted to force a sale of the company, according to a letter shared with employees. Chief Executive Rami Atallah confirmed on Thursday that the Montreal-based fashion e-tailer will seek protection under Canada’s Companies’ Creditors Arrangement Act (CCAA). Atallah told staff that the filing is meant to “protect …
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Gold futures climbed higher on Thursday as investors reacted to a weaker U.S. dollar, safe-haven demand, and growing expectations of a U.S. interest rate cut in September. The rise in gold futures signals renewed market confidence in bullion as an attractive asset when monetary policy loosens and uncertainty in financial markets lingers. Gains Driven by …
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The PSX crash on Wednesday reflected deep investor anxiety as reports of major flooding in Pakistan shook market confidence. The benchmark KSE-100 Index plunged by over 900 points after panic selling gripped the second half of the session. The fears intensified after India released water from dams in Jammu and Kashmir, raising risks of flooding …
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The Hyundai Elantra offer has caught attention in Pakistan’s auto market. Hyundai Nishat Motors has announced immediate delivery for the sedan at a starting price of Rs3.9 million. Customers can now own the facelifted Elantra with 0% markup and flexible installment plans. The promotion, introduced through Hyundai Hyderabad, gives mid-range buyers a rare chance to …
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The KSE-100 index has stunned investors by racing past 150,000 points, far ahead of projections. Earlier this year, analysts expected the milestone in 18 to 24 months, but the index crossed it in just six. This rapid rise now raises the pressing question: is the rally sustainable, or is a correction inevitable? From 112,000 to …
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The Securities and Exchange Commission of Pakistan (SECP) has introduced infrastructure funds to address the country’s $15 billion annual financing gap. By creating a dedicated category of mutual funds, the regulator aims to mobilize long-term domestic savings for projects that can transform Pakistan’s energy, transport, housing, and social sectors. A New Path for Investment SECP …
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Suzuki Alto sales in Pakistan faced a sharp downturn last month, shocking both industry insiders and car buyers. Once the country’s top-selling compact car, the Alto recorded a dramatic 75% drop in sales after the government introduced new taxation measures. The sudden decline highlights the impact of fiscal policy on the automobile market, especially for …
National Bank of Pakistan (NBP) has taken a historic step by introducing the PayPak Pink Debit Card, the country’s first women-exclusive debit card. Launched on the occasion of Pakistan’s 78th Independence Day and the bank’s 75th anniversary, the card is designed to empower women with greater convenience, financial security, and independence. It comes with special …
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President Asif Ali Zardari has constituted the National Finance Commission (NFC) to address financial disputes between the federation and provinces. The new 11th NFC, notified by the Finance Division on Friday, dissolves the 10th commission formed in 2020 and sets new terms of reference to guide fiscal relations in the years ahead. Commission formed with …
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The gold price in Pakistan rose sharply on Thursday, tracking gains in the international market. The price of gold per tola climbed by Rs2,000, reaching Rs357,200. This sudden increase reflects both global market momentum and the continued role of gold as a safe-haven asset in uncertain economic times. Local market registers sharp rise According to …
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The keyword Pakistan Stock Exchange dominated headlines on Thursday as the market witnessed heavy profit-taking. The benchmark KSE-100 Index, which had touched record highs a day earlier, shed more than 1,300 points, closing deep in the red despite starting on a strong note. Market Starts Strong, Ends Weak Trading began with optimism as the benchmark …
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Target CEO Brian Cornell will step down next year after more than a decade of leading the retail giant through turbulent times, as the company works on a high-stakes turnaround plan to reverse sliding sales and reignite growth. The Minneapolis-based retailer confirmed Wednesday that its board of directors has unanimously elected Michael Fiddelke, the company’s …
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The Pakistani Rupee (PKR) has reached its strongest level in three months, creating fresh optimism in the financial markets. This recovery of the rupee comes after a government crackdown on the dollar black market, which has helped stabilize exchange rates. The keyword here is Pakistani Rupee stability, a trend closely watched by traders, businesses, and …
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Gold prices witnessed a decline in Pakistan after international bullion markets recorded a drop. On Tuesday, the global market saw gold lose $11 per ounce, closing at $3,339. This downward movement directly affected local bullion rates, leading to a fall in the cost of both tola and 10-gram gold. The latest shift in gold prices …
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The Pakistan Stock Exchange (PSX) witnessed a historic milestone on Tuesday as the benchmark KSE-100 Index crossed the 150,000 mark for the first time. The record-breaking surge reflected stronger investor confidence, driven by positive economic forecasts, international credit upgrades, and government reforms in the energy sector. The KSE-100 Index climbed to an intraday high of …
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Economic stability remains the top priority as the State Bank of Pakistan (SBP) works actively on the exchange rate and interest rate, according to Finance Minister Muhammad Aurangzeb. He expressed optimism that the country’s financial situation would improve further, with three major global rating agencies already showing a positive outlook for Pakistan. Job and Education …
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Gold prices in Pakistan continued their downward slide on Saturday, reflecting weakness in international bullion markets. The consistent fall has raised concerns among investors and jewelers as the local market adjusts to global fluctuations and shifting demand patterns. Global Market Decline The international bullion market once again recorded a drop in prices. Gold fell by …
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Pakistani Rupee performance improved further on Friday as the currency gained 16 paisa against the US Dollar in interbank trading, closing at Rs. 282.06. This marks its strongest level in nearly two months, signaling renewed stability in the foreign exchange market. PKR Strengthens Against Dollar The rupee’s appreciation against the dollar reflects positive sentiment among …
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The State Bank of Pakistan (SBP) has launched a special Rs. 75 commemorative coin to honor the courage of Pakistan’s armed forces during the historic Marka-e-Haq. The coin also celebrates Independence Day, reflecting national pride and the country’s enduring commitment to its defenders. The release marks a symbolic gesture of unity, strength, and remembrance. Purpose …
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Pakistan’s fuel prices are set for a shift, with the diesel price likely to drop sharply while petrol may see a slight increase. From August 16, high-speed diesel (HSD) could fall by around Rs11.50 per litre, while petrol might go up by Rs1.40 per litre. The changes follow fluctuations in the global oil market and …
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The Pakistan Stock Exchange faced a sharp reversal on Wednesday as early optimism faded under profit-booking pressure. The KSE-100 index, which had surged in the morning, lost momentum by midday and ended the session 476 points lower at 146,529. This dip comes during an ongoing consolidation phase following a series of record-breaking rallies. Strong Start …
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Pakistan’s credit rating received a boost as Moody’s Ratings upgraded the country’s local and foreign currency issuer ratings from Caa2 to Caa1. The agency also shifted the outlook to “stable,” citing Pakistan’s strengthening external position and reform momentum under the IMF’s Extended Fund Facility (EFF). This rating change, which underscores improving economic resilience, comes after …
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