PSX

PSX hits all-time high, KSE-100 index crosses 97,000 points

The Pakistan Stock Exchange (PSX) crossed a historic milestone as the KSE-100 index crossed 97,000 points for the first time, following a strong rally of over 1,500 points that reflected strong investor confidence. This increase was primarily driven by significant purchases in fertilizer stocks. Earlier, the index gained 1,175 points, touching a record 96,721 points…

Oil up 2% after Russia-Ukraine missile exchange, outweighing US crude stock rises

Oil up 2% after Russia-Ukraine missile exchange, outweighing US crude stock rises

Oil prices rose more than 2 percent on Thursday as Russia and Ukraine fired missiles at each other, overshadowing the impact of a larger-than-expected increase in U.S. crude inventories. Brent crude futures were up $1.48, or 2.03%, at $74.29 by 1158 GMT. U.S. West Texas Intermediate crude futures were up $1.53, or 2.23 percent, at…

Sri Lankan President takes U-turn, prioritizes IMF bailout over renegotiation

Sri Lankan President takes U-turn, prioritizes IMF bailout over renegotiation

Sri Lankan President Anura Kumara Dissanayake supports the continuation of the International Monetary Fund’s (IMF) bailout program. is, and has reversed its pre-election stance to renegotiate its terms. In his inaugural address to Parliament, Dissanayake emphasized the need to maintain economic stability and ensure adherence to agreements made by the previous administration under Ranil Wickramasinghe….

Transforming Pakistan's financial ecosystem: PBA, Finance Ministry, and SBP discuss actionable steps

Transforming Pakistan’s financial ecosystem: PBA, Finance Ministry, and SBP discuss actionable steps

The Pakistan Banks Association (PBA), under its priority sector initiatives, is spearheading a number of strategic initiatives aimed at promoting a more inclusive and sustainable financial ecosystem in Pakistan. These measures were presented by PBA Chairman Zafar Masood during a high-level meeting called by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb. The meeting…

Standing committee stresses compliance on PSM revival directives

Standing committee stresses compliance on PSM revival directives

KARACHI: Chairman National Assembly Standing Committee on Industries and Production Syed Hafeezuddin directed the management of Pakistan Steel Mills (PSM) to speed up its recovery efforts and resolve outstanding issues to minimize further losses. is During his visit to PSM on Wednesday, Hafeezuddin highlighted major concerns, including non-payment of dues of retirees and retired employees,…

NA committee addresses gaps in enforcing Rs37,000 minimum wage

NA committee addresses gaps in enforcing Rs37,000 minimum wage

The National Assembly’s Standing Committee on Industries and Production on Wednesday expressed dissatisfaction over the Ministry of Industries and Production’s failure to implement the minimum wage of Rs 37,000 across the country. The committee, chaired by MNA Syed Hafeezuddin, was convened in the Pakistan Steel Mills conference room to address important issues including wage enforcement…

Pakistan and China forge defence equipment agreements at IDEAS 2024

Pakistan and China forge defence equipment agreements at IDEAS 2024

Pakistan and China have signed defense equipment agreements during the Ideas 2024 exhibition which is currently in its third day at the Expo Center in Karachi. A number of international companies have participated in signing agreements and memoranda of understanding (MOUs). An MoU was signed between Pakistan’s Heavy Industries Taxila and China’s Norinco represented by…