KARACHI: The Pakistan Stock Exchange (PSX) maintained a positive trend on Monday with a gain of over 700 points as the benchmark index crossed the 62,000 milestone. According to the PSX website, the KSE-100 index gained 701.86 points or 1.14% to reach 62,393.11 points during the intraday trading at 10:24am.
KARACHI: The Pakistan Stock Exchange (PSX) continued its bullish run for the third consecutive session on Tuesday as the KSE-100 index crossed the 54,000 mark on hopes of an International Monetary Fund (IMF) review among other factors. The KSE-100 index continued its bullish run for the third consecutive day and gained 417.69 or 0.78% during the intraday trading to reach at 54,278.05 points. Pakistan-Kuwait Head of Research, Samiullah Tariq, told Geo.tv: “Expectations of monetary policy’s rate cut and the strong profitability of the companies are among the driving forces that shored up…
Stock markets declined on Friday, as oil prices rose amid concerns that the Israel-Hamas conflict would affect supplies in the Middle East’s crude-oil-rich region with European gas prices reaching the highest levels since February. Energi Danmark analysts said a recent pipeline sabotage in the Baltic Sea added to “geopolitical uncertainty” in the wake of the Israel-Hamas conflict. Helsinki believes last weekend´s leak in the Finland-Estonia gas pipeline was caused by “external” activity, sparking suspicions of Russian involvement. Higher energy prices are adding to concerns over elevated inflation after a forecast-topping…
The Federal Board of Revenue (FBR) announced on Saturday that the last date for submission of income tax returns for the tax year 2023 has been extended to October 31, 2023. The country’s top tax-collection body also stressed that no further extensions would be given. The decision to extend the deadline was made in response to requests from trade bodies and various tax bar associations, the revenue board said. “Due to the demands from trade bodies and tax bar associations, the deadline for filing income tax returns for Tax Year…
How far one can go to be financially savvy? The limit is the stretch of your thought. Gabriella Carter A 22-year-old graduate from Princeton University has not only achieved a debt-free education but also turned her scholarship success into a flourishing business. She is Gabriella Carter. Her story was published by CNBC Make It as part of the Millennial Money series. Gabriella’s journey is an example of how a smart approach to finances can open doors to a bright future. Gabriella’s remarkable journey began when she realised that the soaring cost of college…
KARACHI: Sindh Governor Kamran Khan Tessori on Saturday said that the US dollar was expected to continue its downward streak and settle at Rs250-255 against the Pakistani rupee in the coming days, due to the effective measures taken by the incumbent government. A day earlier, Pakistani Rupee witnessed the 14th consecutive recovery session as it gained Rs 1.01 against the US dollar in the interbank trading and closed at Rs291.76 against the previous day’s closing of Rs292.77. However, according to the Forex Association of Pakistan, the buying and selling rates…
Sales of US homes have been steadily declining since August as supply remained constrained and mortgage rates remained high, the industry figures released on Thursday revealed. Sales of existing homes have cooled in the world´s top economy as interest rates surged, lifting costs for new buyers and making it less attractive for homeowners to reenter the market after having locked in lower rates previously. Existing home sales hit an annual rate of 4.04 million last month, seasonally adjusted, slipping 0.7 per cent from July according to the National Association of…
The United Auto Workers (UAW) union has initiated a targeted strike at three major auto factories in the United States, bringing production to a halt at Detroit’s “Big Three” for the first time in the US auto industry. The UAW strike began just after midnight on Friday following failed last-minute negotiations before the contract’s expiration. Approximately 12,700 workers participated in the UAW strike, which is just a fraction of the 150,000 auto workers represented by the UAW. However, the union has indicated that it may expand the strike if the…
Caretaker Minister for Information Technology Umar Saif on Saturday announced that the government would establish a “Venture Capital Fund” to encourage international ventures and hoped that $1 billion investment would be ensured via the fund. He made the remarks during a MOU signing ceremony between four US-Pakistani diaspora partners and the USAID. The United States (US) announced the mobilisation of over $40 million in new US-Pakistani diaspora investment at the USAID “Invest in Pakistan” conference today. Four diaspora partners concluded four new Memoranda of Understanding (MoUs) with the USAID valued…
The Energy Ministry Monday filed an application before the National Electric Power Regulatory Authority (Nepra), seeking an increase of Rs10.32 in three quarterly tariff adjustments (QTAs) for the consumers of K-Electric. The request by the ministry has been made under sections 7 and 31 of the NEPRA Act, 1997 read with rule 17 of NEPRA Tariff (Standards and Procedure) Rules, 1998. In its request to the power regulator, the ministry has sought the application of periodic adjustments for the second quarter of FY 2022-23 for XWDISCOs of Rs.0.4689 per kilowatt…