Business & Finance Archives - Page 11 of 18

Karachi Stocks plunge over 5,400 points amid global and domestic pressures

February 23, 2026 by Newsdesk

KARACHI: The Pakistan Stock Exchange (PSX) witnessed a sharp decline today, with the KSE-100 Index closing over 5,400 points lower.

The trading week began on a negative note, as the market opened with a downturn and sustained bearish momentum throughout the day.

The KSE-100 Index fell by 633 points to 172,536 in early trading, and continued to drop during the session, reaching 170,980 points—a loss of 1,556 points.

By the close of trading, the downward trend persisted, and the index ended at 167,691, down 5,478 points for the day. The day’s intraday high for the KSE-100 was 174,336 points, while the lowest point recorded was 166,886. Overall, the index experienced a 3.16% decline during the session.

Speaking at a listing ceremony, PSX CEO Farukh Sabzwari said that the decline is influenced by interest rate cuts and international political developments.

He added that the situation at Reko Diq, company earnings reports, and global oil price uncertainties amid the ongoing US-Iran tensions are also affecting market sentiment.

Sabzwari noted that the PSX has fallen from its peak in January and that global and domestic factors continue to shape investor behavior.

PSX closes week lower, 100-Index loses over 6,000 points

February 21, 2026 by Newsdesk

KARACHI: The Pakistan Stock Exchange (PSX) witnessed a significant bearish trend during the outgoing week, as heavy selling pressure dragged the benchmark index sharply lower.

During the week, the KSE-100 Index plunged by 6,434 points, closing at 173,169 points, down from the previous week’s closing level of 179,603 points. The market lost six key psychological levels over the course of the week.

Out of the five trading sessions, the market remained negative on three days, while only two sessions ended in positive territory.

The benchmark index touched a weekly high of 179,969 points, while the lowest level recorded during the week stood at 169,592 points.

Over the five trading days, overall market capitalization declined by Rs756 billion, settling at Rs19,602 billion by the end of the week.

Trading activity remained robust, with approximately 3.26 billion shares changing hands, generating a total turnover of Rs187 billion.

Market experts attributed the downturn to escalating tensions between the United States and Iran, along with widespread selling pressure in key sectors, which weighed heavily on investor sentiment.

FBR orders online monitoring of over 14 business sectors

February 20, 2026 by Newsdesk

LAHORE: The Federal Board of Revenue (FBR) has announced a nationwide plan to monitor business activities online by mandating Point of Sale (POS) systems for more than 14 types of businesses.

POS Requirement for Various Sectors

According to the FBR notification: Hotels, restaurants, guest houses, marriage halls, marquees, and race clubs must install POS systems, except where air conditioning is unavailable.

Retail shops, hospitals, clubs, beauty parlors, and other service providers must also be linked to the FBR system.

Vehicles operating in cities, courier and cargo services, and medical professionals such as dentists, physiotherapists, plastic and hair surgeons, veterinary doctors, medical labs, X-ray, CT, and MRI centers are required to implement POS.

Beauty parlors, massage centers, pedicure centers, and private hospitals must also comply, with hospitals charging a fee of 500 PKR granted an exemption.

Expansion to Health Clubs, Gyms, and Educational Institutions

Health clubs, gyms, swimming pools, multipurpose clubs, civil and non-civil polo clubs, chartered accountants, and cost management accountants are now included in the POS mandate.

Retailers, manufacturers, importers, foreign exchange dealers, currency exchange companies, private educational institutions, and vocational training centers are also required to integrate online systems.

Institutions charging a monthly fee of 1,000 PKR are exempt from the POS requirement.

Cities Covered and Implementation

The FBR notification specifically mentions Lahore, Karachi, and Islamabad, directing all gyms, clubs, and other establishments in these cities to comply. Retailers, manufacturers, and importers nationwide must integrate their systems with FBR online monitoring to enhance transparency and tax compliance.

This move is part of the FBR’s broader strategy to digitize and monitor business operations across Pakistan.

Pakistan Stock Exchange witnesses sharp decline in early trading

February 16, 2026 by Newsdesk

KARACHI: The Pakistan Stock Exchange (PSX) opened the first trading day of the week on a negative note, with the benchmark PSX-100 Index showing significant downward pressure throughout early trading.

At one point, the index dropped over 6,000 points, reaching 173,574 points, marking a decline of more than 3.19% during the session.

Weekly Performance Context

Last week also saw a negative trend at PSX, with the PSX-100 Index falling by 4,525 points to close at 179,603. During the week, the index fluctuated within a 7,413-point range.

A total of 4.31 billion shares were traded over the week, amounting to PKR 212 billion, while market capitalization decreased by PKR 523 billion to reach PKR 20,359 billion.

The early session decline highlights ongoing volatility in the market, reflecting investor caution amid economic and financial uncertainties.

PSX ends week in red with KSE-100 falling 4,526 points

February 14, 2026 by Newsdesk

KARACHI The Pakistan Stock Exchange witnessed a sharply negative trend during the past week, with heavy selling pressure dragging key indices lower.

During the five trading sessions, the benchmark KSE-100 Index declined by 4,526 points. The index fell from 184,129 points at the start of the week to close at 179,603 points.

The market lost five psychological levels over the course of the week, reflecting weak investor sentiment. Out of five trading days, the market remained bearish for four sessions, while only one day recorded gains.

The index touched a weekly high of 185,650 points, while the lowest level recorded during the week was 178,237 points.

Market capitalization shrank by Rs523 billion over the five-day trading period, bringing the total market capitalization down to Rs20,359 billion by the end of the week.

Analysts attributed the downturn to sustained selling pressure, lower-than-expected corporate financial results, and investor concerns related to the Reko Diq project, which collectively weighed heavily on market performance.

UAE grants Pakistan a two-month extension on loan repayment

February 13, 2026 by Newsdesk

ISLAMABAD: The United Arab Emirates (UAE) has, in principle, agreed to extend (roll over) Pakistan’s $2 billion deposit for a short period of two months.

A senior official confirmed that the UAE has consented to roll over the amount until April 17, 2026. The assurance was given following recent contacts between Ishaq Dar, Pakistan’s Deputy Prime Minister and Finance Minister, and senior UAE officials.

According to sources, the short-term extension carries an interest rate of 6.5 percent, with formal approval from relevant authorities expected imminently.

The move is being seen as significant ahead of the third review talks between Pakistan and the IMF, particularly as the previous one-month extension was due to expire in just four days. Islamabad has informed the UAE that it will seek a longer-term rollover after concluding negotiations with the IMF.

Earlier in January, the UAE had granted a one-month extension on the deposit, with the third installment of $1 billion scheduled for July 2026.

Foreign Office spokesperson Tahir Hussain Andarabi stated that Ishaq Dar is personally overseeing the matter and is actively coordinating with UAE authorities to ensure a smooth process.

He added that determining the rollover period is at the discretion of the lender, and thanks to the Deputy Prime Minister’s efforts, the rollover has been secured.

The spokesperson also clarified that he was not aware of statements made by Finance Ministry officials in the Standing Committee on Finance, and referenced the Finance Minister’s remarks that Pakistan’s external financial profile remains intact and IMF-related matters are progressing in the right direction.

SBP’s mid-year policy report points to stronger economic momentum

February 9, 2026 by Newsdesk

ISLAMABAD: The State Bank of Pakistan (SBP) on Monday released its biannual Monetary Policy Report, highlighting a noticeable improvement in the country’s macroeconomic conditions and outlook, supported by a cautious monetary policy stance and ongoing fiscal consolidation.

According to the report, inflation is expected to remain within the target range of 5 to 7 percent for most of FY2026 and FY2027, although some short-term volatility may occur.

The SBP stated that the current account deficit in FY2026 is projected to remain between 0 and 1 percent of GDP. While the trade deficit is expected to stay elevated, it will likely be partially offset by strong workers’ remittances and planned official inflows.

As a result, Pakistan’s foreign exchange reserves are projected to reach $18 billion by June 2026 and further increase in FY2027, approaching nearly three months of import cover.

The report also noted that continued macroeconomic stability, easing financial conditions, and the recent reduction in the Cash Reserve Requirement (CRR) to 5 percent have contributed to stronger economic activity.

Consequently, growth prospects have improved, with real GDP growth for FY2026 now projected between 3.75 and 4.75 percent, while economic growth is expected to strengthen further in FY2027, reflecting a gradual and sustained recovery trajectory.

PSX sees volatile trading, index records marginal decline

February 7, 2026 by Newsdesk

KARACHI: Trading activity at the Pakistan Stock Exchange (PSX) remained volatile during the past week, with the benchmark 100-Index posting a marginal decline.

Over the week, the 100-Index shed 45 points, closing at 184,129 points, compared to 184,174 points at the end of the previous week. Due to a public holiday on Youm-e-Kashmir, trading activities were limited to four days during the week.

Market performance remained mixed, as the PSX witnessed three bullish sessions and one bearish session. During the week, the index touched a highest level of 188,312 points, while the lowest level recorded was 182,792 points.

The market capitalization also took a hit, declining by Rs 86 billion during the five-day trading period. As a result, total market capitalization dropped to Rs 20,882 billion by the end of the week.

Market analysts attributed the subdued performance mainly to profit-taking by investors and concerns arising from the US-Iran tensions, which weighed on overall investor sentiment and limited buying activity.

High-Level Visit: Pakistan signs multiple agreements with Kazakhstan

February 4, 2026 by Newsdesk

ISLAMABAD: Prime Minister Shehbaz Sharif warmly received Kazakhstan President Kassym-Jomart Tokayev at the Prime Minister’s House, marking the beginning of a high-level visit aimed at enhancing bilateral cooperation.

Upon arrival, President Tokayev was presented with a guard of honor, and the national anthems of both countries were played.

Prime Minister Sharif introduced members of his federal cabinet to the Kazakh president, who in turn introduced his delegation.

A formal reception was held in honor of the Kazakh president, attended by senior officials and diplomatic delegations from both countries.

During a detailed meeting following the reception, Prime Minister Sharif and President Tokayev discussed matters concerning bilateral relations, regional security, and cooperation in multiple sectors. Both leaders emphasized strengthening ties between Pakistan and Kazakhstan.

Signing of MOUs and Agreements

The visit included the signing of 19 memoranda of understanding (MOUs) and agreements aimed at expanding cooperation. The leaders also signed a joint communiqué, described as a major step forward in bilateral relations.

Key areas covered by the agreements include:

Cooperation in UN peacekeeping operations

Partnerships in mining and petroleum sectors

Prisoner exchange programs

Maritime sector collaboration

Transit trade agreements and customs cooperation

Partnerships in Pakistan Railways

Climate change initiatives

Collaboration in virtual assets, AI, and digital development

Protection and veterinary sector cooperation

Officials highlighted that these agreements will facilitate future technological cooperation and digital partnerships between the two countries.

The signing ceremony was attended by Defence Minister Khawaja Asif, Deputy Prime Minister and Foreign Minister Ishaq Dar, and Federal Minister for Planning Ahsan Iqbal.

This visit and the accompanying agreements underscore a strengthened Pakistan-Kazakhstan partnership across economic, technological, and strategic domains.

After falling trend, Gold rates shoot up across Pakistan

February 3, 2026 by Newsdesk

KARACHI: After a period of continuous decline, gold prices have surged sharply across Pakistan, rising by tens of thousands of rupees in a single day.

According to the All Pakistan Gems and Jewellers Association (APGJA), the price of gold increased by Rs24,000 per tola, taking the new rate to Rs514,362 per tola nationwide.

Similarly, the price of 10 grams of gold rose by Rs20,576, reaching Rs440,982.

Meanwhile, in the international market, gold prices also recorded a significant jump, increasing by $240 to $4,916 per ounce.

Market analysts attribute the sharp rise to global economic uncertainties and fluctuations in international bullion markets, which continue to influence local gold prices.

Silver prices witnessed a notable increase in the local market on Monday, following the upward trend in precious metals.

According to market sources, the price of one tola silver rose by Rs741, reaching Rs9,146. Meanwhile, the price of 10 grams of silver increased by Rs636 to settle at Rs7,841.