Pakistani rice exports registered a remarkable growth of 19% during the first half of the current fiscal year, despite global trade turmoil and intense competition from regional players. From July to December 2024, the country exported 3.06 million tons of rice worth $1.87 billion, compared to 2.57 million tons worth $1.64 billion in the same … Read more
The federal cabinet, headed by Prime Minister Shehbaz Sharif, has approved revised agreements with 14 independent power producers, a move that is expected to bring down electricity prices by Rs 10-11 per unit. The renegotiated contracts are set to save 802 billion rupees by reducing profits and costs of independent power projects, while deducting an … Read more
Most stock markets in the Gulf fell on Sunday after stronger-than-expected US jobs data, strengthening expectations that the Federal Reserve (the US central bank) will likely keep interest rates high for a longer period than many traders are betting on. The Federal Reserve Bank’s decisions have a significant impact on monetary policy in the Gulf … Read more
KARACHI: Sindh Information and Transport Minister Sharjeel Inam Memon announced efforts to complete the Jam Sadiq Bridge eight months before its scheduled completion date of December 2025. Speaking at a lunch hosted by Korangi Association of Trade and Industry (KATI), a press release said.KATI President Junaid Naqi, Deputy General Sponsor Zubair Chhaya, KITE Limited CEO … Read more
Strong demand continued to drive growth in Saudi Arabia’s non-oil business sector in December, although the pace was slightly slower than in November, according to a survey released on Sunday. Riyad Bank Saudi Arabia’s seasonally adjusted Purchasing Managers’ Index (PMI) fell to 58.4 in December, down from a 17-month high of 59.0 in November. Despite … Read more
The KSE-100 index of the Pakistan Stock Exchange (PSX) is expected to maintain its upward momentum in 2025, driven by low single-digit interest rates. According to AKD Securities, the index is expected to register a strong return of 55.5% next year, supported by strong profitability in the fertilizer sector, improving sustainable return on equity (ROE) … Read more
The KSE-100, the benchmark index of the Pakistan Stock Exchange (PSX), is expected to continue its upward trajectory in calendar year 2025 (CY25), with an expected return of 55.5% (49% in USD), driven by lower interest rates and improving macroeconomic stability. , according to a report by AKD Securities. The index is expected to reach … Read more
Remittances sent by Pakistanis working abroad are expected to reach $35-36 billion by the end of the current fiscal year 2024-25, according to data compiled by Topline Securities. This would be a 16% year-on-year increase from incoming remittances during the previous fiscal year 2023-2024. According to data from the State Bank of Pakistan (SBP), workers’ … Read more
Islamabad: Pakistan’s inflationary trend is likely to decline further as the CPI-based figure is expected to fall below 5% in November, hitting a 78-month low, according to a Topline Securities report. The report said: “Pakistan CPI for November 2024 is expected to reach 4.5-5% y/y (+0.4% m/m), bringing the 5-year average of FY25 to 7.91% … Read more
Islamabad: In a positive development for the Pakistani economy, the State Bank of Pakistan (SBP) has hinted that remittances for October 2024 are expected to reach or exceed $3 billion. This trend, revealed during the Monetary Policy Committee’s recent briefing, is expected to significantly reduce the current account deficit to negligible levels. The expected remittance … Read more