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KARACHI – Stock market continued its bullish momentum on second consecutive day, Tuesday, with strong upward movement in most MSCI-EM stocks. The benchmark 100-share index closed at 52,147 points after rallying by 773.46 points or 1.57 percent. Banking sector led the gains in the market as the sector gained to close 1.71% higher than its […]

KARACHI: The Asian Development Bank (ADB) has approved a $20 million loan to help Khushhali Microfinance Bank Limited (KMBL) expand access to credit for agriculture-related borrowers and small businesses in Pakistan. The assistance will help KMBL increase the provision of financial services to micro, small, and medium-sized enterprises from 5,700 at present to over 30,000 by […]

KARACHI: External debt servicing rose to $5 billion by the end of the third quarter of 2016-17, according to a recent report released by the State Bank of Pakistan (SBP). It amounted to $5.3bn in 2015-16. The SBP report indicates that external debt servicing will be 25 per cent higher than a year ago. This […]

The Asian Development Bank (ADB) has approved a $20 million loan to help Pakistan’s Khushhali Microfinance Bank (KMBL) to expand access to credit for agriculture-related borrowers and small businesses. “Agriculture and small business are critical sectors in Pakistan’s economy that play a significant role in job creation and poverty reduction,” said Ms Christine Engstrom, Director […]

The government has agreed to a World Bank proposal to update the methodology and source of data for Pakistan’s GDP measurement and the project is likely to be completed by June next year. An official source said that there were several concerns with the GDP’s measurement methodology and data sources in the international financial institutions […]

THE dollar in overseas trade slumped to the lowest level since November as a reaction to President Donald Trump disclosing classified information to a Russian official during the week. In the local currency market, the rupee traded weaker against the dollar in the first trading session. It lost one paisa and two paisas on the […]

ISLAMABAD: With the inundation of Rs1.62 trillion worth of half-cooked projects in the national development programme in just one year, the Planning Commission re-appropriated funds allocated by the National Economic Council (NEC) for 213 projects during the outgoing fiscal year for speedy completion of 101 projects. This was mainly because of start-up problems with tens of hundreds […]

ISLAMABAD –  Finance Minister Ishaq Dar on Monday held meetings with delegations of the Pakistan Broadcasters Association (PBA), Poultry Association and Kisan Ittehad to discuss budget proposals. The PBA delegation was led by its chairman Mian Amir Mehmood. The delegation also included Mir Ibrahim, Secretary General PBA, Shakeel Masood, Sultan Lakhani, Tahir A.Khan and Duraid […]

ISLAMABAD –  Islamabad Chamber of Small Traders (ICST) on Sunday said the State Bank of Pakistan (SBP) should not hide economic realities from the masses to please authorities. ICST Patron Shahid Rasheed Butt said, “It is not anticipated that such an institution will try to play with the facts and figures, as knowing correct situation […]

The Pakistan Stock Exchange has started the week on a positive note, with the benchmark KSE-100 index gaining 631.48 points, 1.24 per cent, by the close of the Monday trading session to reach 51,373.51. Most activity was seen in commercial banking stocks as trading volumes remained lower than average. “Major positive contribution came from the […]