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Islamabad: Finance Minister Senator Muhammad Aurangzeb has stated that two provinces have already implemented the agricultural tax, while discussions are ongoing with the remaining two. He added that negotiations with the International Monetary Fund (IMF) on this matter are also in progress. Talking to the media at the Parliament House, the finance minister said that …
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Redmond, Washington: Microsoft’s stock fell 4.5% in after-hours trading on Wednesday after the company forecast slower growth in its cloud computing business, raising concerns about AI monetization, rising costs, and competition from cheaper Chinese AI models. Despite beating overall revenue estimates, Microsoft’s Azure cloud division reported 31% revenue growth, missing Wall Street’s expectation of 31.8%. …
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The Pakistan Stock Exchange (PSX) made a strong comeback after three consecutive losing sessions, with the KSE-100 Index surging over 1,700 points. Investor confidence returned, driving aggressive buying, particularly in the second half of the session. Market Rally and Key Performers The benchmark index soared to an intra-day high of 113,400.57 before closing at 113,206.40, …
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New York: Arabica coffee prices soared above $3.60 per pound on Wednesday, reaching a record high as Brazil, the world’s largest producer, faces limited supplies and uncertainty over its upcoming harvest. Dealers report that 70-80% of Brazil’s current arabica harvest has already been sold, slowing down new trades. Brazil produces nearly half the world’s arabica …
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Islamabad: The Pakistan government is considering imposing a Federal Excise Duty (FED) on sugar to address a tax shortfall, news were reported on Thursday. The Federal Board of Revenue (FBR) is struggling with a revenue shortfall exceeding Rs 50 billion for January 2025. Officials are exploring new tax measures ahead of the IMF review for …
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Rawalpindi: The Metro Bus service in Rawalpindi and Islamabad has been partially suspended, disrupting travel for thousands of commuters, news were reported on Thursday. According to the Metro Bus administration, the service is closed from Saddar Station to Faizabad due to ongoing track maintenance. However, buses are operating normally from IJP Road to the Pak …
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London: Shell reported a sharp drop in fourth-quarter profits, missing analyst estimates due to weak refining margins and LNG trading challenges. However, the energy giant announced a $3.5 billion share buyback and a 4% dividend increase, aiming to reassure investors. Profit Misses Expectations Shell’s adjusted earnings (net profit) for Q4 2024 stood at $3.66 billion, …
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The gold market in Pakistan witnessed high prices on Thursday, 30th January 2025, with gold showing a slight increase. The price of 1 tola of 24-karat gold was Rs. 290,300, while 22-karat gold was priced at Rs. 266,106 per tola. For those interested in 21-karat gold, the price stood at Rs. 254,013 per tola, and 18-karat …
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Gold prices in Pakistan saw a sharp increase, with 24-karat gold rising by Rs.2,300 per tola, reaching Rs.288,700 on Wednesday. This surge follows global trends, where gold continues to act as a safe-haven asset amid economic uncertainty. Gold Rates Increase Across Markets The price of 10 grams of 24-karat gold also rose by Rs.1,972, reaching …
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Electricity consumers in Pakistan may get temporary relief as the power tariff is expected to drop by Rs1.30 per unit for a month. The Central Power Purchasing Agency (CPPA) has requested a reduction in the monthly fuel price adjustment for December. The CPPA’s petition will be heard tomorrow. According to the request, the estimated fuel …
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Technology stocks rebounded on Tuesday after suffering a massive selloff. Nvidia led the recovery, gaining 8.9% after losing nearly 17% on Monday. The AI chip leader had shed around $593 billion in market value, marking the biggest one-day loss for any company. The market shock followed the release of DeepSeek, a Chinese AI model. The …
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The federal government has appointed Faiz Ahmad as the Chief Executive Officer of the Trade Development Authority of Pakistan (TDAP) on a deputation basis. The official notification has been issued. Faiz Ahmad has been appointed to this position as a Grade 22 officer. He is currently serving as the Director General at the Pakistan Customs …
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Karachi: In a significant development, the Karachi Awards 2025 jury convened to review this year’s submissions, marking an important step forward for the awards program. Now in its fourth year, this initiative recognizes and celebrates welfare services across Karachi and its surrounding areas. The meeting emphasized the transparency of the awards process while focusing on …
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KARACHI: The State Bank of Pakistan (SBP) has granted a digital banking license to Easy Paisa Bank Ltd, the central bank governor announced on Tuesday. This move aims to enhance financial inclusion, particularly in remote areas of the country. Speaking on the occasion, SBP Governor Jameel Ahmad emphasized the significance of digital and branchless banking. …
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KARACHI: Pakistan International Airlines (PIA) is facing a major staffing crisis following the resignation of 110 engineers and technicians. The departures come amidst the government’s move to privatize the national flag carrier. In response to the resignations, PIA’s administration has decided to fill the vacant positions on a daily-wage basis. According to sources, the engineering …
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Islamabad: The Securities and Exchange Commission of Pakistan (SECP) has released a Consultation Paper seeking public feedback on potential changes to the Research Analyst Regulations, 2015. The aim is to improve the quality of research available to investors and align the regulations with both local and international standards. Enhancing Research Quality Research analysts play a …
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The State Bank of Pakistan (SBP) on Monday reduced the policy rate by 100 basis points, bringing it to 12%, during the first monetary policy announcement of 2025. The new rate will take effect from December 17, 2024, according to a statement released by the central bank. Inflation Declining Gradually SBP Governor Jameel Ahmad, who …
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Islamabad: The Oil and Gas Regulatory Authority (OGRA) has announced an increase in the price of gas for captive power plants. However, gas prices for domestic consumers, as well as other sectors, will remain unchanged. Gas Price Hike for Captive Power Plants OGRA has raised the gas price for captive power plants by 500 rupees …
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The Pakistan Telecommunication Authority (PTA) has highlighted the poor quality of service (QoS) provided by mobile operators in Pakistan. The results of a QoS survey conducted in Q4 2024 reveal substandard performance in network coverage, broadband, voice, and SMS services. Key players like Zong and Jazz showed strength in specific areas, while Telenor consistently underperformed. …
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Gold prices, after reaching record highs, have slightly dropped in both international and local markets. The recent fluctuation in gold prices has drawn significant attention, particularly after the surge to historic levels just a day earlier. International Gold Prices Slip In the global bullion market, the price of gold per ounce decreased by $2, settling …
The Pakistan Stock Exchange (PSX) witnessed a remarkable surge on Friday, with the KSE-100 Index climbing 1.43% during intra-day trading. The index reached 115,662.87 points by midday, reflecting renewed investor confidence and strong market activity. Robust Gains and Market Activity The KSE-100 Index recorded a sharp increase of 1,625.08 points before trading paused for Friday …
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Amid ongoing economic reforms, Pakistan’s inflation rate is expected to drop significantly, with the Consumer Price Index (CPI) for January 2025 forecasted to dip below 3%, marking the lowest level since November 2015. According to a report by JS Global, January’s CPI inflation could fall to 2.8%, driven by a high base effect, despite a …
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The Pakistan Stock Exchange (PSX) continued its upward momentum on Friday, buoyed by expectations of a rate cut in the upcoming Monetary Policy Committee (MPC) meeting and increased foreign interest, particularly in the cement sector. The benchmark KSE-100 Index gained 1,741.26 points, or 1.53%, reaching an intraday high of 115,779.05 before closing near its peak. …
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