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Today's Paper | May 10, 2024

Shares at PSX gain over 700 points on renewed rate cut hopes

Shares at PSX gain over 700 points on renewed rate cut hopes

Analysts say buyers expect interest rate to decline and inflation to clock in at 15pc in May.

Updated 10 May, 2024 12:38pm

Related

PSX Highlights of the Day

Company	Price	Change	Change %	Volume
ANL	8.0800	0.9400	13.17 ▲	7,018,891
TCORPCPS	6.9000	0.7200	11.65 ▲	1,000
HUMNL	10.0300	1.0000	11.07 ▲	10,744,360
FTSM	10.0000	0.8300	9.05 ▲	3,500
GFIL	9.7900	0.7900	8.78 ▲	103,000

Company	Price	Change	Change %	Volume
FEM	3.0600	-0.3900	-11.30 ▼	23,500
TSBL	10.0000	-1.0000	-9.09 ▼	1,000
HCL	775.7200	-62.9000	-7.50 ▼	2,394
JUBSDEF	14.8000	-1.2000	-7.50 ▼	14,500
CWSMDEF	35.9500	-2.9100	-7.49 ▼	235,000

Updated May 09, 2024

SBP reserves hit two-year high above $9bn

SBP reserves hit two-year high above $9bn

Remittances rise 28pc in April.

Updated 10 May, 2024 10:10am

PM Shehbaz wants more Qatari investment in Pakistan

PM Shehbaz wants more Qatari investment in Pakistan

Qatari minister of state for foreign affairs meets premier, FM Dar; discusses cooperation in energy, mining and aviation sectors.

Updated 10 May, 2024 09:32am

K-Electric faces resistance over proposed fuel adjustment charges

K-Electric faces resistance over proposed fuel adjustment charges

Businesses refuse to pay proposed FCAs; power utility ordered to exempt exam centres from outages.

Updated 10 May, 2024 10:13am

GSMA concerned over SIM blocking

GSMA concerned over SIM blocking

GSMA Asia Pacific head writes letter to Minister of State for IT Shaza Fatima.

Updated 10 May, 2024 09:56am

Automaker’s steep price cut gamble pays off

Automaker’s steep price cut gamble pays off

After reducing price of Kia Stonic to Rs4.767m from Rs6.280m, Lucky Motor Corporation gets tremendous response from consumers.

Published 10 May, 2024 06:54am

Taxpaying sectors overburdened: study

Taxpaying sectors overburdened: study

International survey agency blames FBR due to its failure to reform and broaden tax base.

Updated 10 May, 2024 09:59am

AGP decries FBR’s lethargy in court cases

AGP decries FBR’s lethargy in court cases

Top lawyer’s office writes to bureau’s head, urges prompt filing of review petitions in case of adverse decisions.

Updated 10 May, 2024 09:31am

Stocks close in green on value-hunting

Stocks close in green on value-hunting

World Bank’s reaffirmation of collaborating with Pakistan in structural reforms and sustainable development contribute to PSX’s mild recovery, analyst says.

Published 10 May, 2024 06:54am

Govt seeks Chinese support for hydropower projects

Govt seeks Chinese support for hydropower projects

High-level delegation led by Ahsan Iqbal in China to boost energy cooperation.

Updated 10 May, 2024 07:41am

Govt must show policy investors it is now fiscally prudent and very serious

Govt must show policy investors it is now fiscally prudent and very serious

Pakistan needs to pursue an independent policy to choose foreign trading partners

Pakistan needs to pursue an independent policy to choose foreign trading partners

‘Carrot and stick’ policies are employed to disorient workers and vilify unions

‘Carrot and stick’ policies are employed to disorient workers and vilify unions

Highlights

Tax reforms — easier than expected

Tax reforms — easier than expected

Pakistan’s sovereignty in dire straits

Pakistan’s sovereignty in dire straits

Packaging film sector on the rise

Packaging film sector on the rise

Workers vulnerable without unions

Workers vulnerable without unions

EV boom — oil vehicles on their way out?

EV boom — oil vehicles on their way out?

Wheat’s tricky procurement

Wheat’s tricky procurement

Aurora

How digitisation can affect agri-financing

How digitisation can affect agri-financing

Should agriculture adopt a capitalist model?

Should agriculture adopt a capitalist model?

Fighting Pakistan’s food crisis

Fighting Pakistan’s food crisis

Business & Finance

Packaging film sector on the rise

Packaging film sector on the rise

"Total local market size is Rs80-100bn, and we expect an annual growth of 7-8pc in flexible packaging films by food companies," IPAK CEO says.

Updated 06 May, 2024 09:57am

Tax reforms — easier than expected

Tax reforms — easier than expected

An integrated digital system is needed through which records of interest and dividend payments made by financial institutions would be linked to the tax system.

Updated 06 May, 2024 09:14am

Wheat’s tricky procurement

Wheat’s tricky procurement

Govt’s inability to set sustainable wheat support price policy due to corrupt procurement system harms farmers’ profits and national agricultural productivity.

Updated 06 May, 2024 10:03am

Subsidies vs market forces

Subsidies vs market forces

About 24pc of the total wheat produced was procured in the country last year, which created the burden of almost Rs233bn.

Updated 06 May, 2024 10:10am

Newspaper

Stocks close in green on value-hunting

PSO proposes debt swap for equity in companies

IPAK raises Rs1.77bn in book building

GSMA concerned over SIM blocking

Taxpaying sectors overburdened: study

Automaker’s steep price cut gamble pays off

GSMA concerned over SIM blocking

K-Electric faces resistance over proposed fuel adjustment charges

SBP reserves hit two-year high above $9bn

Economic crisis deepens amid political instability

Six-month deadline extension for upgrade agreements irks refineries

Axe falls on another senior taxman

Kharif crop production prospects improve

CDWP clears three projects worth Rs126bn

World Bank reaffirms help for development

Stocks fall for third day on profit-taking

Shell posts Rs314m profit

Economic Coordination Committee approves 400,000 tonnes increase in wheat procurement target

Engro looking to go global, says Samad Dawood

Low oil imports trim trade gap with Middle East

Citi Pharma sets up joint venture with Chinese firm

Batteries with renewables can cut power costs: study

Dubai Islamic Bank Pakistan signs issuing bank pact with IFC

‘Chinese investment crucial for Balochistan’