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Pakistan Economy

Amid Covid-19, economy witnesses considerable recovery in 5 months of FY21

Governor SBP briefed that Monetary Policy was accommodative due to COVID-19 and has paved way for economic recovery.

Published 24 Dec, 2020 07:34pm

Business & Finance

Approved financing under TERF reach over Rs 222bn in Dec: SBP

This could be reflected by the increase in requested amount from Rs 36.1 billion by end April 2020 to Rs 517.4 billion by Dec 10, 2020.

Updated 16 Dec, 2020 01:06pm

Business & Finance

Industry driving Pakistan’s Economic growth, says Azhar after LSMI output increase

"At a time when the global economy is in a deep recession, Industry is driving economic growth and recovery in Pakistan,” said Azhar

Published 15 Dec, 2020 01:08pm

World

U.S. House Democrat slams Trump trade policies, urges Biden to work with allies

The head of the powerful U.S. House of Representatives Ways and Means Committee on Friday slammed what he called President Donald Trump’s “unsophisticated response” to China’s ambitions and called for a major recalibration of U.S. policies.
Chairman Richard Neal, a Democrat, urged the future administration of fellow-Democrat Joe Biden to formulate a package of programs and investment to counterbalance China.

Published 12 Dec, 2020 07:11pm

World

EU Commission chief sees more chance of no Brexit trade deal

Britain is more likely to leave the European Union’s orbit on Dec. 31 without a trade deal than with an agreement, an EU official quoted the head of the European Commission.
A no-trade deal Brexit would damage the economies of northern Europe, send shockwaves through financial markets, snarl borders and sow chaos through the delicate supply chains which stretch across Europe and beyond.

Published 11 Dec, 2020 05:30pm

Business & Finance

Need to sustain strong Remittances flow to get ‘true economic independence’: Asad

The minister in a tweet post on Friday said that strong remittance flows are significantly helping with Pakistan’s external account.

Published 11 Dec, 2020 12:11pm

World

Exclusive: U.S. set to sanction Turkey over Russian defense system - sources

Two sources familiar with the matter, including a U.S. official speaking on the condition of anonymity, said President Donald Trump had given aides the blessing for the sanctions.

Published 11 Dec, 2020 09:37am

Pakistan

Pakistan’s economy is recovering: ADB

It forecast the developing Asian growth to rebound to 6.8% in 2021, but prospects diverge within the region.

Published 11 Dec, 2020 01:53am

Business & Finance

Govt intends to reindustrialize Pakistan: Hammad Azhar

Hammad said that the government would further introduce measures to facilitate business in the coming budgets.

Published 09 Dec, 2020 01:29pm

Business & Finance

Japan to compile nearly $200 billion third extra budget: government source

Prime Minister Yoshihide Suga on Tuesday announced his plan to compile a 73.6 trillion yen stimulus package to speed up the country’s recovery from its deep coronavirus slump.

Published 08 Dec, 2020 10:00am

Pakistan

Govt taking effective measures for economy: Dr Firdous

She discussed the expected visit of the prime minister and Chief Minister Usman Bazdar to Sialkot on Dec 9.

Published 06 Dec, 2020 05:57pm

Business & Finance

Pakistan economy poised to bounce back, KSE-100 to hit 52,000 points by 2021

The report was of the view that it expects the economic activity in Pakistan to continue the robust pace it has shown over the last couple of months.
The report was of the view that “we think that an exit from the FATF grey list in February has become quite likely. This would be a significant stimulant for confidence in the equity bourse.”

Updated 05 Dec, 2020 04:47pm

Business & Finance

'Second wave' hampers Pakistan’s Refining, Fuel Demand Growth Outlooks: Report

The report said that a sharp resurgence in new daily Covid-19 infections in Pakistan has put the brakes on the government’s economic reopening plans after earlier lockdowns.

Published 02 Dec, 2020 02:46pm

Markets

Pakistan economy is underway of recovery: MoF Report

According to the report, the budget deficit reached Rs 484 billion.

Published 28 Nov, 2020 04:29pm

Business & Finance

Following COVID-19 SOPs is good for business, finds Study

“When people feel safer to spend, or more importantly, when the pandemic is kept at bay, the economy is more likely to have a quick recovery. Not to mention the lives that will be saved.”

Published 28 Nov, 2020 01:23pm

Business & Finance

Pakistan economy gathering steam, but vulnerability persists, says SAPM

He said that it remains to be decided whether the IMF review mission would visit Pakistan or conduct a virtual review.

Published 25 Nov, 2020 01:12pm

Business & Finance

Pakistan sees 'light at the end of the tunnel’ as domestic activity indicators pickup: Baqir

The Governor said that the committee kept unchanged its projection for growth this fiscal year at about 2 percent.

Published 25 Nov, 2020 11:26am

Business & Finance

Pakistan’s C/A maintains surplus for fourth consecutive month

As per the central bank, this comes on the back of a sustained increase in remittances and a smaller trade deficit.

Updated 19 Nov, 2020 11:38am

Business & Finance

Finance Adviser Shaikh urges on improving governance

Shaikh said that despite the Coronavirus pandemic, the Pakistani economy performed positively, the government distributed financial assistance to the beneficiaries under the Ehsas program and provided a special package for the business community to mitigate the COVID-19 impact.

Published 18 Nov, 2020 02:22pm

Markets

The State of Pakistan's Economy: Prudent policies kept economy on stabilization path

According to the report, following difficult but necessary stabilization efforts during the first nine months of the fiscal year, Pakistan’s economy was well on course for a steady recovery on the eve of the Covid-19 pandemic.

Updated 18 Nov, 2020 01:31pm

Business & Finance

Pakistan moving in ‘right direction’ says PM as Textile sector revives

MashaAllah the country is moving in the right direction despite the Covid 19 challenge,” tweeted PM Khan while referring to a media report on the revival of the textile sector in the country.

Published 12 Nov, 2020 01:43pm

Business & Finance

Indonesia sees first recession in over two decades as coronavirus hits

Indonesia’s first recession since the Asian financial crisis in 1998 - normally defined as two consecutive quarters of economic contraction - comes as the country has struggled to contain the coronavirus outbreak.

Published 05 Nov, 2020 10:16am

Business & Finance

Pakistan’s economy ‘on path to recovery’ as world battles COVID

He added that “Big electricity price cut for industry will further accelerate industrial growth particularly for SME's.”

Published 04 Nov, 2020 03:39pm

Business & Finance

Govt power relief package to make Pakistan industry globally competitive: Azhar

He said the package will make Pakistan's industry competitive in the world market.

Published 03 Nov, 2020 04:49pm

Markets

Economic sentiment in Pakistan turning positive, says Azhar

The minister further said that tax revenues are also rising, whereas the Current Account is in surplus.

Published 26 Oct, 2020 04:14pm

Business & Finance

China says indicators give good reason to believe in sustained recovery

There’s also good reason to be confident about China’s full-year economic growth, Liu Aihua, spokeswoman at the National Bureau of Statistics, told a press briefing after the release of third-quarter gross domestic product.

Published 19 Oct, 2020 10:23am

Business & Finance

Despite COVID, Govt projects 2pc economic growth this fiscal

Hammad said the economic indicators are positive with remittances witnessing 20 percent increase as compared to previous years.

Published 16 Oct, 2020 12:54pm

Business & Finance

Govt making concerted efforts to revive economy: Sheikh

He said that despite limited resources and the COVID-19 pandemic, the government has tried to provide maximum relief to the common man.

Published 15 Oct, 2020 02:06pm

Pakistan economic growth to remain below potential, at 0.5pc for FY21: WB

WB said that the country’s economic growth is projected to remain below potential, at 0.5pc for FY21 compared to over 4pc annual average in the previous three years to FY2019.

Updated 08 Oct, 2020 04:19pm

Business & Finance

South Asia set to plunge into worst-ever recession as COVID-19 takes toll, warns WB

WB forecasts a sharper than expected economic slump across the region, with regional growth expected to contract by 7.7 percent in 2020, after topping 6 percent annually in the past five years.

Published 08 Oct, 2020 02:08pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / May 31	278.42
USD PKR Interbank Buying / May 31	278.22
USD to Japanese Yen / May 31	156.89
USD to Swiss Franc / May 31	0.90
Pound Sterling to USD / May 31	1.27
Euro to USD / May 31	1.08

Stock	Volume
S&P 500 / May 30	5235.48
Nasdaq / May 30	16737.08
FTSE 100 / May 30	8231.05
Dow Jones / May 30	38111.48
Germany DAX 30 / May 30	18496.79
France CAC40 / May 30	7978.51
India Sensex / May 31	74020.51
Tokyo Nikkei / May 31	38487.90

Item	Value
Gold 10 Grams PKR / May 30	208076
Crude Oil USD/Barrel / May 31	77.90
Karachi Cotton PKR/37.32 KG / May 31	207219
Gold Spot USD/Ounce / May 31	2345.48
Cotton US¢/pound / May 31	76.09
Petrol/Litre / Jun 1	273.10

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Jun 1 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Jun 1 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Jun 1 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Jun 1 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Jun 1 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Jun 1 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Jun 1 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Jun 1 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Jun 1 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Jun 1 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Jun 1 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Jun 1 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Jun 1 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Jun 1 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Jun 1 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Jun 1 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Jun 1 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Jun 1 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Jun 1 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Jun 1 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Jun 1 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Jun 1 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Jun 1 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Jun 1 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Jun 1 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Jun 1 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Jun 1 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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