Most Authentic News Source
Tesla stock took a major hit after CEO Elon Musk revealed plans to launch a new political party, triggering a harsh reaction from former ally and US President Donald Trump. The Tesla stock dropped by 7.6% in premarket trading Monday, marking its steepest decline since early June. Trump Labels Musk a “Train Wreck” Trump took …
Continue reading “Tesla Shares Plunge After Trump Slams Musk’s America Party Plan”
U.S. President Donald Trump reignited trade tensions on Sunday by threatening a new 10% tariff on any country aligning with the “Anti-American policies of BRICS,” causing U.S. stock futures to fall early Monday. Trump made the announcement just as BRICS leaders gathered in Rio de Janeiro for a high-stakes summit. While Trump didn’t cite specific …
Continue reading “Markets Jittery as Trump Threatens Tariffs on BRICS Allies”
United Bank Limited (UBL) has now become the second most valuable company on the Pakistan Stock Exchange (PSX), marking a major achievement in its financial and strategic journey. The rise in UBL’s market cap highlights growing investor confidence in the banking sector. UBL’s Market Cap Skyrockets According to Topline Securities CEO Mohammed Sohail, UBL’s market …
Continue reading “UBL Surges to Second Most Valuable Company on PSX”
The KSE-100 Index soared by 1,262 points on Friday, closing at 131,949 amid rising investor confidence in Pakistan’s economic outlook. The surge reflects bullish sentiment driven by expectations of easing inflation, a stable rupee, rising foreign reserves, and optimism surrounding the upcoming corporate earnings season. Banking Sector Steers the Rally The rally was led by …
Continue reading “KSE-100 Jumps 1,262 Points as Economic Optimism Fuels Rally”
The PSX rally continued its upward trend on Thursday, with the KSE-100 Index closing at a new all-time high of 130,686.66 points, gaining 342.63 points or 0.26%. Earlier in the day, the index reached an intra-day high of 131,325.10, reflecting investor confidence and bullish momentum. Strong Fundamentals Fuel Market Optimism Analysts credited the sustained rally …
Continue reading “KSE-100 Hits Record High as PSX Rally Gains Momentum”
The Pakistan Stock Exchange (PSX) continued its record-breaking streak on Wednesday, as the benchmark KSE-100 Index surged past the 130,000-point milestone for the first time in history. The index closed at 130,344.03 points, marking a sharp gain of 2,144.61 points or 1.67% from the previous close. During the day, the index touched an intraday high …
Islamabad: The National Electric Power Regulatory Authority (NEPRA) has approved a Rs1.15 per unit reduction in the basic power tariff. The revised rates apply to all electricity consumers — except lifeline users — and extend to K-Electric customers as well. The decision follows NEPRA’s public hearing on the Power Division’s proposal for tariff rationalisation. Officials …
Continue reading “Nepra Announces Rs1.15 Cut Per Unit for Most Users”
Gold rates in Pakistan remained steady as the country entered the second half of 2025. According to data released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), prices held firm amid a calm international market and a stable local currency. Gold Rates Hold Firm As of July 1, the price of 24-karat gold stood …
Continue reading “Gold Price Update: Rates Stable Across Pakistan on July 1”
The PSX bullish trend kicked off the fiscal year 2025–26 with a historic surge. On July 1, the KSE-100 Index soared by 2,300 points during intra-day trading, reaching an unprecedented level of 128,149.46 before closing at 127,927.49 — up 1.83% from the previous session’s close of 125,627.31. Strong Opening Reflects Market Confidence The Pakistan Stock …
Continue reading “KSE-100 Soars to All-Time High as New Fiscal Year Begins”
ISLAMABAD: Pakistani consumers are now paying over Rs101.49 per litre in taxes and duties on petrol, according to a newly surfaced document. This staggering figure includes multiple levies and margins, making up a significant chunk of the final retail price consumers see at the pump. The detailed breakdown includes: Petroleum Development Levy (PDL): Rs75.52 New …
KARACHI: The Pakistan Stock Exchange (PSX) extended its historic rally on Tuesday, with the benchmark KSE-100 Index soaring by over 2% to reach an intraday high of 128,149.46 points. This marks another milestone in a fiscal year defined by economic recovery, policy stability, and robust foreign support. The index gained 2,522.15 points from Monday’s close, …
Continue reading “PSX Hits Record High as Bull Run Continues Amid Macroeconomic Optimism”
ISLAMABAD: The federal government has formally requested the National Electric Power Regulatory Authority (Nepra) to implement a uniform electricity tariff across Pakistan, covering both state-run Discos and K-Electric’s service areas, starting July 1, 2025. According to a motion filed by the Power Division, the proposed tariff equalisation will be achieved by incorporating subsidies, surcharges, and …
A recent report from the State Bank of Pakistan (SBP) highlights a stark imbalance in the country’s banking sector. Just 3% of bank accounts in Pakistan have a balance exceeding Rs. 1 million, revealing a concentrated distribution of financial wealth. Majority of Accounts Hold Less Than Rs. 50,000 The SBP’s Quarterly Payment Systems Review for …
Continue reading “Only 3% of Bank Accounts in Pakistan Hold Over Rs. 1 Million”
The KSE-100 Index outperformed all major asset classes in Pakistan during FY25, delivering a powerful 55.6% return. This surge came on the back of aggressive monetary easing, increased liquidity, and renewed investor confidence across key sectors, according to Arif Habib Limited (AHL). Equities Outshine Gold, Bonds AHL’s report highlighted that the KSE-100 outpaced traditional investment …
Continue reading “KSE-100 Becomes Top Asset Class in FY25 With 55% Return”
Gold rates in Pakistan remained steady on June 27, reflecting the impact of international market fluctuations. Local Sarafa markets across major cities like Karachi, Lahore, and Islamabad reported consistent pricing, influenced by global demand and currency movement. Current Gold Rates in Major Cities As of Friday, the price of 24-karat gold per tola stood at …
Continue reading “Gold Price Sees Steady Trend in Pakistan on June 27 Amid Global Markets”
Investor confidence soared on Friday as the Pakistan Stock Exchange (PSX) closed at a historic high. The benchmark KSE-100 Index ended the week at 124,379.41 points, its highest-ever closing level. The index gained 2,332 points during the week, fueled by optimism following the approval of the Finance Bill 2025. Budget Clarity Drives Market Sentiment On …
Continue reading “KSE-100 Hits Record High as Budget Passage Boosts Investor Confidence”
The Pakistan Stock Exchange (PSX) opened Friday’s trading session on a high note, with the benchmark KSE-100 Index surging by 1,581.77 points, or 1.3%, to hit an intraday peak of 123,628.23. This strong recovery comes a day after the market had dipped over 700 points, reflecting renewed investor optimism following the federal budget’s approval and …
Continue reading “KSE-100 Jumps 1,581 Points on Budget Approval, US Trade Breakthrough”
The gold price continues its cautious upward trend, hovering near the $3,350 mark on Thursday as investors respond to growing concerns over the independence of the Federal Reserve. US President Donald Trump’s reported consideration of replacing Fed Chair Jerome Powell has heightened market anxiety, driving demand for safe-haven assets like gold. Meanwhile, expectations of a …
Continue reading “Gold Holds Modest Gains Near $3,350 Amid Fed Uncertainty”
ISLAMABAD – The Pakistan Peoples Party (PPP) on Wednesday voiced serious concerns over politically sensitive clauses in the federal budget for the upcoming fiscal year, pushing the government to amend them before the Finance Bill 2025 goes to a vote in the National Assembly today (Thursday). PPP MNA and former finance minister Naveed Qamar met …
Continue reading “PPP Raises Red Flags Over Budget 2025 Ahead of Key Vote”
Pakistan and the United States are close to finalizing a key trade agreement centered on reciprocal tariffs, as both sides aim to deepen economic ties and balance trade relations. The breakthrough follows a virtual meeting between Finance Minister Muhammad Aurangzeb and US Commerce Secretary Howard Lutnick, with talks set to conclude next week. Progress on …
Continue reading “Pakistan, US Near Deal on Reciprocal Tariffs and Trade Expansion”
HONG KONG – China’s yuan edged higher against the US dollar on Wednesday, reaching near its strongest level in a month, as a ceasefire between Iran and Israel helped calm global markets and encouraged investors to return to riskier assets. The truce, brokered by US President Donald Trump, appeared to be holding firm as of …
Continue reading “Yuan Edges Higher as Israel-Iran Truce Boosts Market Confidence”
A growing dollar shortage in Pakistan’s interbank market is triggering fresh volatility in the exchange rate. With ongoing geopolitical tensions, including the Iran-Israel conflict and recent skirmishes between Pakistan and India, banks are now offering rates above official levels to attract remittances, while importers are paying a steep premium to secure dollars. Banks Raise Rates …
Continue reading “Dollar Crunch Sparks Exchange Rate Instability Amid Regional Tensions”
Gold prices in Pakistan climbed slightly on June 21, 2025, after several days of decline, as gold prices respond to rising global uncertainty triggered by the ongoing Iran-Israel conflict. The precious metal’s movement mirrors global trends, where market instability continues to influence bullion rates. Latest Gold Rates Across Pakistan According to the All Pakistan Sarafa …
Continue reading “Gold Prices Edge Higher in Pakistan Amid Global Uncertainty”
