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KARACHI: The Pakistan Stock Exchange (PSX) maintained its positive trajectory on Monday, as the benchmark KSE-100 index gained 572.73 points. The index closed at 115,844.82 points, up 0.5% from the previous session’s 115,272.08. The market witnessed a turnover of 675.04 million shares, up from 549.58 million shares in the last session. The value of traded …
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The stock market closed the week on a high note, signaling optimism for continued growth. Political unpredictability and rising crude oil prices caused fluctuations throughout the week, but appealing valuations and improving economic indicators helped maintain investor interest. Analysts anticipate strong financial results in the upcoming earnings season, further boosting market confidence. Positive Week-End Performance …
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A new cryptocurrency, $TRUMP, has taken the Solana blockchain by storm, achieving an $8 billion market cap within hours of its launch. Allegedly tied to President-elect Donald Trump, the coin has sparked both excitement and skepticism across the crypto community. Meteoric Rise on Solana The $TRUMP token, branded as the “Official Trump Meme Coin,” was …
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The International Monetary Fund (IMF) has downgraded Pakistan’s GDP growth projection for 2025 to 3%. The previous forecast, made three months ago, projected a growth rate of 3.2%. The revision was part of the IMF’s “World Economic Outlook Update.” The report focused on global growth trends and uncertainties. The IMF did not specify reasons for …
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Karachi, January 17, 2025 – The Pakistan Stock Exchange (PSX) and 1LINK (Pvt) Limited have entered into a strategic agreement to enhance the book building process by introducing advanced online payment solutions. The revamped Book Building System (BBS) will allow participants to make seamless payments exceeding Rs 1 million through the 1LINK 1BILL platform. This …
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On Thursday, the Pakistan Mercantile Exchange (PMEX) reported a total traded value of PKR 47.941 billion, showcasing significant activity in metals, energy, COTS (Cash Over-the-Counter Swaps), and indices. The volume of trades reached 33,319 lots, reflecting robust participation across various segments. Gold, as the leading commodity, contributed significantly to the day’s performance, reinforcing its position …
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Telenor Pakistan has teamed up with the Travel Agents Association of Pakistan (TAAP) to revolutionize connectivity for international travelers. The collaboration introduces the Travel SIM, offering seamless communication and affordable roaming solutions to travelers heading abroad. This innovative partnership promises to simplify connectivity while addressing the unique needs of Pakistani travelers. Affordable Connectivity for Travelers …
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Gold prices have maintained a bullish trajectory, benefiting from the Federal Reserve’s recent dovish stance. After hitting a five-week high earlier this week, the yellow metal eased slightly on Friday due to profit-taking. Despite this dip, gold remains well-positioned for gains, supported by expectations of further policy easing and weak U.S. economic data. Fed Rate …
Continue reading “Gold Outlook: Bullish Momentum Fueled by Fed’s Dovish Shift”
The Pakistan Stock Exchange (PSX) witnessed an electrifying trading session on Friday, with the benchmark KSE-100 index soaring by over 1,200 points in intraday trading. The index closed at 115,057.71, marking an impressive rise of 1,220.97 points (1.05%), reflecting newfound investor confidence. Key Drivers Behind the Rally The market’s upward trajectory was largely driven by …
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The Pakistan Pavilion at the Future Minerals Forum (FMF) in Riyadh attracted widespread interest on the event’s second day. The forum, attended by over 20,000 visitors, brought together ministers, mining professionals, investors, and academics from around the world. The Pakistan Pavilion stood out with its vibrant design and informative exhibits. Visitors praised its presentation, with …
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Prime Minister Shehbaz Sharif has directed authorities to expedite the Federal Board of Revenue’s (FBR) legal efforts to conclude under-trial tax revenue cases promptly. Chairing a review meeting on Thursday, the prime minister emphasized the need for swift action to resolve pending cases. He instructed the hiring of reputed lawyers to represent the FBR in …
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DP World and NLC have launched a weekly feeder service between Dubai’s Jebel Ali Port and Karachi. This initiative marks a major milestone in Pakistan’s shipping and maritime trade. The service aims to enhance the movement of containers between the two cities efficiently. The inauguration event took place at Port Qasim. Sultan Ahmed bin Sulayem, …
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Pakistan’s foreign exchange reserves saw an increase of $73.1 million, bringing the total reserves to $16.45 billion. This rise, attributed to a surge in remittances, reflects a positive shift in the country’s economic stability and forex management. Weekly Growth in Reserves According to the State Bank of Pakistan (SBP), the country’s total reserves grew from …
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The United Arab Emirates (UAE) has extended the maturity of its two deposits worth $1 billion each, held in the State Bank of Pakistan. These deposits, originally set to mature in January 2025, will now be rolled over for an additional year. This move highlights the UAE’s support for Pakistan during its ongoing economic recovery …
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The Pakistan Airports Authority (PAA) has refuted claims that a financial bid for outsourcing the operations of Islamabad International Airport has been approved. The PAA issued a statement clarifying that reports regarding the approval of the bid from the T.E.R.G. consortium were “baseless” and “misleading.” Clarification from the PAA In its statement, the PAA’s spokesperson …
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The federal government has yet to make a final decision regarding the proposed increase in gas tariffs for Captive Power Plants (CPPs). The delay comes despite pressure from various quarters, including the International Monetary Fund (IMF). Petroleum Division Suggests Gas Supply Disconnection The Petroleum Division had initially recommended disconnecting gas supplies to CPPs as an …
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The much-anticipated results of the Rs 750 prize bond draw for January 2025 were announced on Wednesday by the National Savings Division in Karachi. Major Winners First Prize: Rs 1,500,000 Winning Bond Number: 271541 Second Prizes: Rs 500,000 each Winning Bond Numbers: 0317904, 496553, 80066 Third Prizes: Rs 9,300 each Total Winners: 1,696 Prize Bond …
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The salaried class has become the third-largest contributor to Pakistan’s tax revenue, with a nearly 40% rise in tax collection during the fiscal year 2023-24. The Federal Board of Revenue (FBR) collected Rs368 billion from salaried individuals, an increase of Rs103.74 billion compared to the previous year. Key Revenue Sources FBR documents revealed a 39.3% …
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KARACHI: Gold prices in Pakistan continued to decline for the second consecutive day on Tuesday, reflecting a similar trend in global markets. The price per tola fell by Rs1,400, closing at Rs277,900 in the local market. The price of 10 grams of gold also dropped by Rs1,201, ending at Rs238,254, according to the All-Pakistan Gems …
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Islamabad: The Ministry of Commerce has proposed significant changes to Pakistan’s electric vehicle (EV) policies. These reforms aim to remove the cap on EV batteries for cars, vans, and SUVs and eliminate the 25% sales tax on EVs priced above Rs4 million. EV Battery Cap and Sales Tax Reforms During a recent steering committee meeting, the …
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Islamabad: Pakistan’s per-person debt has surged to nearly Rs302,000, marking an 11.3% increase over the past fiscal year. The latest Fiscal Policy Statement for 2025 reveals that the government failed to keep the budget deficit within the legal limit, exceeding Rs7 trillion. Debt Burden Escalates The per capita debt burden in Pakistan has risen from Rs271,264 …
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Islamabad: The prices of petroleum products in Pakistan are set to increase by up to Rs6.20 per litre for the upcoming fortnight, beginning January 16, due to a rise in international crude oil prices. Market sources suggest that the ex-depot price of petrol will increase by Rs3.53 per litre. Kerosene oil and light diesel oil are …
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Riyadh: Saudi Arabian mining company Manara Minerals is expected to invest in Pakistan’s Reko Diq mine within the next two quarters, according to Pakistan’s Petroleum Minister Musadik Malik. The investment could mark a significant step in the development of one of the world’s largest undeveloped copper-gold reserves. Manara’s Growing Role in Global Mining Manara Minerals …
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