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
The final bidding process for the privatization of Pakistan International Airlines (PIA) took place at a local hotel in Islamabad, on October 31, 2024. — Screengrab via YouTube/Geo News ISLAMABAD: Pakistan International Airlines (PIA) has attracted Rs10 billion from the sole bidder for a stake in the national carrier for the expected minimum price of … Read more
The government prohibited oil refineries from adjusting input taxes on crude oil purchases against sales tax on refined petroleum products, including gasoline and diesel. The change, introduced through the Finance Act 2024, has raised concern across the refining industry, as it threatens to increase operating costs and disrupt refinery upgrade projects. According to Pakistan Refinery … Read more
Motorcyclists wait for their turn to fill fuel in their bikes at a petrol pump on May 16, 2024. – App ISLAMABAD: Prices of petroleum products in Pakistan may see a decline of up to Rs 3.50 per liter from November 1 in the next two weeks, sources said. Geographic News. According to sources, a … Read more
U.S. President Joe Biden delivers remarks during a visit to the United Association Local 190 Training Center in Ann Arbor, Michigan, U.S., September 6, 2024. REUTERS US President Joe Biden is expected to visit Germany next week, a government source said on Sunday, after an initially planned trip was canceled due to Hurricane Milton. “He … Read more