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Global stocks recover with focus on trade, Brexit
Investors appear to hope British PM Theresa May's pending resignation could unblock the political stalemate over Brexit.
FBR eyes Rs775bn in fresh taxes next fiscal year
Revenue plan shared with IMF shows steep, escalating targets for next three budgets.
Rs1.837tr development outlay set for 2019-20
Budget to be announced on June 11; Sindh protests dropping of ongoing schemes under next PSDP.
Bike makers raise prices
Crown Motorcycle, manufacturer of bikes and loaders, raised prices by Rs2,000-5,000 on Thursday.
IMF warns US-China trade war will ‘jeopardise’ global growth
IMF directly refutes Trump’s claim that tariffs are paid by China and provide a windfall for the US treasury.
Stocks gain 944 points on market fund euphoria
Investors rushed for anticipatory buying before the launch of proposed government guaranteed market support.
Govt offers help to save $165m auto investment
The commerce minister assured full cooperation and support to the investor.
Naveed Kamran Baloch appointed secretary finance
Mohammad Younus Dagha, who was appointed to the role in March, has been removed.
Indian stocks shed gains as euphoria over Modi election win fades
The benchmark BSE index, which reached an all-time high of 40,124.96, ended 0.76pc lower for the day at 38,811.
Govt eyes 4pc growth as development budget slashed for 2019-20
This is the crux of the budget preparations ahead of APCC meeting being held on Thursday.
EXCHANGE RATES
Exchange Rates for Currency Notes
| Countries | Selling (Rs.) | Buying (Rs.) |
|---|---|---|
| U.S.A. | 152.50 | 153.50 |
| U.K. | 192.00 | 194.00 |
| Euro | 169.00 | 171.00 |
| Japan | 1.3500 | 1.3900 |
| Saudi Arabia | 40.20 | 40.70 |
| U.A.E. | 41.00 | 41.50 |
Highlights
BULLION RATES
| City | Gold (24-ct) | Silver |
|---|---|---|
| Karachi | 61,128 | 745.88 |
| Multan | 59,920 | 729.00 |
Business & Finance
Tough times ahead
Independent economists estimate a loss of almost one million jobs during the IMF programme.
Tracking IMF’s performance
Of the last six programmes, Pakistan has completed two: the 2000 and 2013 ones.
Politics around the IMF package
The IMF deal offers the opposition an endless buffet of contentious points to choose to critique on.
KSE 100-share index fluctuations
The chart shows this week's performance in the PSX.