MG Desk

News by Rafay Malik

Pak Rupee on track to break free from 7-year Dollar curse

Pakistani Rupee (PKR) is silently and steadily on track to snap its seven-year-long losing streak against the mighty Dollar this calendar year...

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Weekly Market Roundup

Pakistan stocks were unstoppable this week, breaking records every day and extending their gains to close above the 109,000 level...

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PSX records highest trading value in over 7.5 years

The Pakistan Stock Exchange (PSX) has seen a significant increase in its trading value over the past couple of weeks, with today's session recording...

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KSE-100 suffers largest single-day drop of 2024

Investors who were eagerly anticipating the market to break its destined 100,000 mark well ahead of the December target are now shifting towards severe...

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Russia-Ukraine tensions spark gold rally in Pakistan

Pakistan’s bullion market, which had been struggling following Trump's win in the US presidential election, managed to stage a strong rebound last week ...

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China scales back power investments amid security woes

Pakistan’s power sector failed to attract Chinese capital in October, showcasing an unusual trend potentially due to threats to Chinese nationals...

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ADR tax sparks legal showdown for Pakistan banks

All eyes have turned to Pakistan’s commercial banks after a recent court order granted temporary relief to numerous banks from the hectic incremental tax...

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Trump’s win pressures gold prices in Pakistan

Investors in Pakistan’s bullion market suffered severe losses last week as international gold recorded its biggest weekly drop in nearly 5 months...

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Pakistan govt tackles debt head-on, retires trillions

Pakistan’s government has retired a substantial Rs2.08 trillion in debt in the ongoing fiscal year, marking a shift from the previous fiscal year’s record...

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Pakistan stocks set to outshine gold for second year running

Pakistan stocks are once again on track to outperform gold in delivering higher calendar-year returns, driven by improved macroeconomic indicators...

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Volatile week for oil wraps up with gains

Global oil prices faced immense volatility this week, yet managed to settle with a modest gain driven by rising Israel-Iran fears and signs that demand...

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Pakistan banks race for higher ADR to escape tax hammer

A sudden rush has emerged among certain Pakistani banks to lend at lower-than-expected rates in order to bring their Advances to Deposit Ratio (ADR)...

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OGDC's profit collapse sinks Oil & Gas sector in Q4FY24

Oil & Gas Development Company Limited (PSX: OGDC), the leading Force in Pakistan's Oil and Gas Exploration sector, posted a substantial drop in its quarterly...

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Gold sustains record-breaking rally, rates discrepancy arises

The record-breaking rally of Pakistan’s bullion market was further spurred this week fueled by the continuous boost in international gold prices...

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FFC tops KSE-100 with largest market capitalization

Fauji Fertilizer Company Limited (PSX: FFC) has emerged as the company with the largest market capitalization among the remaining companies of the KSE-100...

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Pakistan bond yields hit near 2.5-year low

Pakistan’s bond yields have plummeted to their lowest level in up to 2.5 years following an aggressive policy rate cut, with the rejection of all bids...

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Fed's aggressive rate cut sparks record gold rally in Pakistan

Pakistan’s bullion market delivered substantial returns to investors last week, with prices surging to new highs in line with international rates...

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Pakistan's currency in circulation hits near decade low

The Currency in Circulation (CIC) in Pakistan has dropped to a near 10-year low level as a percentage of Gross domestic product (GDP) at current prices...

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SBP's aggressive rate cut, IMF deal: A Dual Success

Yesterday’s Monetary Policy Committee (MPC) Meeting gave Pakistan more than just an unexpected rate cut as it assured the implementation of the delayed...

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Pakistani banks continue to flourish with strong quarterly profits

Extending their streak of financial success, Pakistan’s commercial banks have closed another quarter scoring higher earnings driven by increased interest...

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Oil prices crash amid economic slowdown

Global oil prices plummeted this week as demand concerns and a likely rise in supplies out of Libya outweighed delays in output rise by the OPEC+...

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Gold's bullish run in Pakistan continues unabated

Pakistan’s bullion market continued its upward rally this week as gold prices once again reached a new peak due to a continuous...

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SAZEW: A Tech-Savvy Titan

Sazgar Engineering Works Limited (SAZEW), the Blue-chip pick of the Pakistan Stock Exchange (PSX) has been in the limelight for quite a prolonged period...

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Gold stands firm despite global drop, underpricing emerges

Despite a rough start, Pakistan’s gold market managed to close the week relatively stable, regardless of the downturn in international gold rates...

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Pakistan's gold price surges to all-time high amid global recession fears

Pakistan’s bullion market glittered this week as its key benchmark rallied to a new all-time high following a global surge and a relatively weaker local...

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Pakistan faces largest Dollar drain in 6 years: A mixed blessing ahead

Pakistan, the Dollar-scarce nation just witnessed a major outflow of the greenback as overseas investors repatriated the highest dividends and profits...

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Pakistan's fiscal strain widens as govt breaks borrowing record

Pakistan's government has borrowed a massive sum of Rs8.564 trillion from commercial banks in the fiscal year 2023-2024 (FY24), the highest debt ever...

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Gold price in Pakistan hits 6-week high on global upswing

Pakistan’s bullion market delivered substantial gains to investors as prices reached a 6-week high, buoyed by a significant rise in international...

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PKR FY24 Review: Rising From Ashes to Harmony

Pak Rupee’s journey during the fiscal year (FY24) can be described as tough yet remarkable, as the currency rebounded from its all-time low...

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KSE-All share market cap reaches new high after nearly 7 years

The Pakistan Stock Exchange All-Share market capitalization reached an all-time high level of Rs10.55 trillion during today’s intraday session...

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Pakistan grapples with untaxed Eid activity worth Rs500bn

Eid-ul-Azha generated economic activity of over Rs500 billion in Pakistan, but its contribution to the country’s treasure or revenue remains...

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Budget Blues: Pakistan's high-stakes tax strategy

Pakistan’s budget for the upcoming fiscal year reflects the necessity to shrink the fiscal deficit with somewhat harsh taxes spanning across various segments...

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Pakistani Rupee holds its breath against USD for another month

Pakistan's currency, though not registering any gains, has successfully managed to maintain stability against the mighty Dollar for another month...

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Pakistan's bullion market rebounds after tough week

After experiencing a rough patch last week, Pakistan's bullion market saw a slight revival this week as the price of its key benchmark...

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KP turns to domestic debt, Rs31.3bn proposed for FY25

Khyber Pakhtunkhwa’s budget for the upcoming fiscal year 2024-25 shows proposed Domestic Debt receipts of Rs31.3 billion among the capital inflows...

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Gold market in Pakistan hits rough patch as gains go up in smoke

Pakistan's bullion market witnessed major suffering this week, with gains from the past week getting completely erased due to plunging international...

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Banking sector kicks off Q1 2024 with a bang, records upbeat earnings

Pakistan’s most profitable sector, commercial banks sustained its robust profit growth in the first quarter of 2024, primarily supported by...

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SBP auction triggers dramatic 62bps drop in PKRV yields

Pakistan’s secondary market yields have garnered significant attention and focus as following the recent auction conducted by the central bank...

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PKR stands rock-solid against mighty Dollar in 2024

The Pakistani Rupee (PKR) has sustained its march on the path of stability and strength since the start of the calendar year (2024) as the USD to....

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Pakistan Chemical companies see profits dry up despite revenue gains in Q1 2024

Pakistan’s Chemical sector has faced a challenging start in the first quarter of 2024, witnessing a profit contraction amid inflationary pressures and....

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Gold prices in Pakistan rebound despite weak consumer demand

The domestic bullion market snapped its two-week tragic loss as the price of 24-karat gold rebounded by Rs5,500 per tola...

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Oil & gas sector's profit boom stalls in Q1 2024 amid lower income

Pakistan’s oil and gas exploration sector has failed to sustain its tale of financial success as industry players witnessed a major drop in earnings...

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Gold prices slide for 2nd straight week amid diminishing purchasing power

This week marked the second consecutive weekly loss for the domestic bullion market, with the price of 24-karat gold dropping by Rs6,400 per tola....

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Gold price in Pakistan falls Rs7,800 per tola in a week

The domestic bullion market snapped its winning journey this week as the price of 24-karat gold dropped by Rs7,800 per tola to close at Rs244,400..

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PKRV drops up to 60bps in 2 sessions as MPC nears

The secondary market yields (PKRV) in the past two days have recorded a significant drop of up to 60 basis points across different tenures as the central...

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Gold prices break records in Pakistan on global, currency cues

The domestic bullion market continued to roar as prices this week surpassed their previous record high level and reached a new peak, driven by surging...

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Gold hits record high above $2,400 amid China's buying, geopolitical tensions

International gold rose above $2,400 per ounce and recorded a new all-time high on Friday as geopolitical tensions and China’s economic concerns continued...

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Pakistan's bullion prices break all-time records this week

Gold prices in Pakistan rallied this week, surging past their previous all-time high to reach a new peak, driven by a massive rise in international...

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Domestic gold heats up as international rate reaches new peak

The domestic bullion market has recently witnessed one of its most bullish months as the international gold rate has reached a....

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PKR defies odds, keeps Dollar at bay for 4th consecutive month

The Pakistani Rupee (PKR) has demonstrated resilience against the mighty Dollar for a prolonged period as the currency concluded March as its...

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Pakistan's oil & gas sector defies circular debt worries with 1HFY24 earnings boost

Pakistan’s oil and gas exploration sector has recorded a stellar financial performance during the first half of the ongoing fiscal year 2024, delivering....

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International gold spike triggers bullish rally in domestic market

The domestic bullion market witnessed a strong bullish momentum this week, delivering massive returns to local investors as the international spot rate....

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NBP affirms to maintain robust CAR after accounting for Rs98bn pension liability

The National Bank of Pakistan (PSX: NBP) is poised to keep its Capital Adequacy Ratio (CAR) well above the standard limit of 14% after incorporating....

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Pakistani banks cash in on soaring interest rates, achieve record profits in 2023

Extending its journey of continuous success, the banking sector has settled the financial year 2023 with remarkable resilience, as majority of...

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China's investment retreat exposes vulnerability of Pakistan's FDI

China has given a major blow to Pakistan this month as the country divested a total of $254.9 million in January 2024, resulting in the nation's...

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Pakistani freelancers celebrate foreign windfalls with Dollar ATMs

As many Pakistanis are unaware of the formal or legal process for withdrawing dollars through their foreign accounts, it is important to draw attention....

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PKR starts 2024 strong, gains 2.36 rupees against USD in January

The Pakistani Rupee (PKR) has made a positive start to 2024, closing the month of January at Rs279.5 with a gain of 0.84% or 2.36 rupees against the...

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PIA's wings get unclipped

After residing in a dull spot for an extended period, Pakistan International Airlines Corp (PIA) has finally emerged into the spotlight as the market...

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Govt's elevated bank borrowings cast shadows over Pakistan's economic outlook

Government borrowings from banks are following a troubling upward trend, pushing the country deeper into the debt tunnel and casting...

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Gold Yearly Review: Domestic Bullion strikes it rich in 2023

Domestic bullion investors have joyed magnificent investment returns for 2023 as the yellow metal has delivered an impressive 19.47% yield...

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Operational challenges dim debut of GIS auction through PSX

Despite an impressive response to the auction for the 1-year GoP Ijara Sukuk (GIS) through the Pakistan Stock Exchange Limited (PSX)....

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Oil prices slide for 7 straight weeks, longest downtrend since 2018

Global oil prices have marked their seventh consecutive weekly decline this week, the longest losing streak witnessed in half a decade...

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Gold Weekly Review: Domestic price drops Rs8,000 per tola amid global slide, strengthened Rupee

Gold investors in the domestic bullion market experienced a major setback this week as the price of 24-Karat gold plunged by Rs8,000 per tola...

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Gold Weekly Review: Domestic gold glows amidst global price surge

Bullion investors in the domestic market joyed significant gains this week driven by the...

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Private Airlines' fare hike sparks cartel fears amidst PIAC's operational challenges

Amidst Pakistan International Airlines Corporation's (PIAC) operational challenges, it appears that private airlines have formed a cartel..

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Private Airlines not capitalizing on PIA's woes, investigation reveals

The allegations surrounding private airlines raising fares amid Pakistan International Airlines (PIA) operational struggles...

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Gold Weekly Review: Domestic Bullion soars amid rising global prices, weaker Rupee

The domestic bullion saw significant gains this week as the price of 24-karat gold surged by Rs6,350 per tola to Rs208,350...

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Gold Weekly Review: Domestic Bullion sparkles with global surge

After witnessing continuous fluctuations, domestic bullion closed the week with a gain of Rs2,500 per tola or 1.25%...

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Oil prices record biggest weekly drop since March as demand glooms

International oil prices closed the first week of October on a sour note, witnessing their steepest...

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Oil bulls on a roll, prices extend gains for fourth straight month on supply concerns

Oil prices extended their upward trajectory for the fourth straight month as the market continued to weigh on OPEC....

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FCCL eyes new export markets with completion of D.G. Khan plant

Fauji Cement Company Limited (PSX: FCCL), a major cement exporter to Afghanistan, is poised to explore additional export opportunities with the completion....

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Gold Weekly Review: Bullion prices take a nosedive as rupee gains momentum

Domestic bullion over the past week experienced a significant downturn as the Pakistani rupee (PKR) staged a strong comeback against the...

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Banking sector profits double to Rs257.5bn in 1HCY23 on higher interest rates

The banking sector's profitability surged nearly twofold to Rs257.50 billion in the first half of 2023, primarily due to higher interest...

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Gold Monthly Review: Prices take a bull run as rupee weakens

Domestic bullion witnessed a remarkable surge in August, driven by the continuous depreciation of the Pakistani rupee (PKR) and.....

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Gold Weekly Review: Bullion shines bright as rupee falls

Domestic bullion maintained its bullish momentum this week, mainly driven by the continuous depreciation of the....

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WACOG: A ray of hope for Pakistan's gas sector circular debt

Amidst the increasing circular debt burden in the gas sector worth Rs1.6 trillion, the concept of Weighted Average Cost of Gas (WACOG) emerges as a...

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Unusual price movement up to 3x, PSX seeks clarification

Amid the approval of the long-Standing Staff Level Agreement (SLA) with IMF along with a series of positive news flows, the local bourse is enjoying a bullish..

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Gold Weekly Review: Prices hold steady as investors shift to risk-on assets

Throughout the past week, domestic bullion prices remained relatively stable, with investor attention shifting towards risk-on assets in response to specific...

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Gold Weekly Review: Domestic bullion witnesses significant rise, driven by PKR depreciation

Domestic bullion witnessed a significant rise during this week, mainly driven by the continuous depreciation of the Pakistani....

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Gold Weekly Review: Risk-off assets lose shine as IMF Deal boosts confidence

Domestic bullion witnessed a significant slump in the first week of July, following the signing of the deal between the International Monetary Fund (IMF)....

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Oil prices rebound with 4% surge in June

Oil prices have surged over 4% in the month of June, effectively halting a seven-month period of predominantly declining trajectory amid Saudi Arabia’s...

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Name	Price/Vol	%Chg/NChg
KSE100	133,255.56 3.35M	-0.11% -147.63
ALLSHR	83,269.34 36.36M	0.10% 81.28
KSE30	40,622.34 0.88M	-0.07% -29.11
KMI30	191,988.67 1.14M	-0.05% -95.24
KMIALLSHR	55,871.53 18.15M	0.04% 23.83
BKTi	36,395.34 0.10M	-0.08% -27.54
OGTi	28,444.91 0.06M	0.03% 7.30

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	108,780.00	109,545.00 108,650.00	-435.00 -0.40%
BRENT CRUDE	70.07	70.09 69.85	-0.08 -0.11%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	2.05 2.15%
ROTTERDAM COAL MONTHLY	106.65	106.65 106.25	0.50 0.47%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	68.23	68.27 67.78	-0.10 -0.15%
SUGAR #11 WORLD	16.15	16.37 16.10	-0.13 -0.80%

Chart of the Day

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News by Rafay Malik

Pak Rupee on track to break free from 7-year Dollar curse

Weekly Market Roundup

PSX records highest trading value in over 7.5 years

KSE-100 suffers largest single-day drop of 2024

Russia-Ukraine tensions spark gold rally in Pakistan

China scales back power investments amid security woes

ADR tax sparks legal showdown for Pakistan banks

Trump’s win pressures gold prices in Pakistan

Pakistan govt tackles debt head-on, retires trillions

Pakistan stocks set to outshine gold for second year running

Volatile week for oil wraps up with gains

Pakistan banks race for higher ADR to escape tax hammer

OGDC's profit collapse sinks Oil & Gas sector in Q4FY24

Gold sustains record-breaking rally, rates discrepancy arises

FFC tops KSE-100 with largest market capitalization

Pakistan bond yields hit near 2.5-year low

Fed's aggressive rate cut sparks record gold rally in Pakistan

Pakistan's currency in circulation hits near decade low

SBP's aggressive rate cut, IMF deal: A Dual Success

Pakistani banks continue to flourish with strong quarterly profits

Oil prices crash amid economic slowdown

Gold's bullish run in Pakistan continues unabated

SAZEW: A Tech-Savvy Titan

Gold stands firm despite global drop, underpricing emerges

Pakistan's gold price surges to all-time high amid global recession fears

Pakistan faces largest Dollar drain in 6 years: A mixed blessing ahead

Pakistan's fiscal strain widens as govt breaks borrowing record

Gold price in Pakistan hits 6-week high on global upswing

PKR FY24 Review: Rising From Ashes to Harmony

KSE-All share market cap reaches new high after nearly 7 years

Pakistan grapples with untaxed Eid activity worth Rs500bn

Budget Blues: Pakistan's high-stakes tax strategy

Pakistani Rupee holds its breath against USD for another month

Pakistan's bullion market rebounds after tough week

KP turns to domestic debt, Rs31.3bn proposed for FY25

Gold market in Pakistan hits rough patch as gains go up in smoke

Banking sector kicks off Q1 2024 with a bang, records upbeat earnings

SBP auction triggers dramatic 62bps drop in PKRV yields

PKR stands rock-solid against mighty Dollar in 2024

Pakistan Chemical companies see profits dry up despite revenue gains in Q1 2024

Gold prices in Pakistan rebound despite weak consumer demand

Oil & gas sector's profit boom stalls in Q1 2024 amid lower income

Gold prices slide for 2nd straight week amid diminishing purchasing power

Gold price in Pakistan falls Rs7,800 per tola in a week

PKRV drops up to 60bps in 2 sessions as MPC nears

Gold prices break records in Pakistan on global, currency cues

Gold hits record high above $2,400 amid China's buying, geopolitical tensions

Pakistan's bullion prices break all-time records this week

Domestic gold heats up as international rate reaches new peak

PKR defies odds, keeps Dollar at bay for 4th consecutive month

Pakistan's oil & gas sector defies circular debt worries with 1HFY24 earnings boost

International gold spike triggers bullish rally in domestic market

NBP affirms to maintain robust CAR after accounting for Rs98bn pension liability

Pakistani banks cash in on soaring interest rates, achieve record profits in 2023

China's investment retreat exposes vulnerability of Pakistan's FDI

Pakistani freelancers celebrate foreign windfalls with Dollar ATMs

PKR starts 2024 strong, gains 2.36 rupees against USD in January

PIA's wings get unclipped

Govt's elevated bank borrowings cast shadows over Pakistan's economic outlook

Gold Yearly Review: Domestic Bullion strikes it rich in 2023

Operational challenges dim debut of GIS auction through PSX

Oil prices slide for 7 straight weeks, longest downtrend since 2018

Gold Weekly Review: Domestic price drops Rs8,000 per tola amid global slide, strengthened Rupee

Gold Weekly Review: Domestic gold glows amidst global price surge

Private Airlines' fare hike sparks cartel fears amidst PIAC's operational challenges

Private Airlines not capitalizing on PIA's woes, investigation reveals

Gold Weekly Review: Domestic Bullion soars amid rising global prices, weaker Rupee

Gold Weekly Review: Domestic Bullion sparkles with global surge

Oil prices record biggest weekly drop since March as demand glooms

Oil bulls on a roll, prices extend gains for fourth straight month on supply concerns

FCCL eyes new export markets with completion of D.G. Khan plant

Gold Weekly Review: Bullion prices take a nosedive as rupee gains momentum

Banking sector profits double to Rs257.5bn in 1HCY23 on higher interest rates