World Bank issues warning of global recession
World Bank stated that the ongoing Russia-Ukraine war could bring a global recession as food, energy, and fertilizer the prices go higher
IMF presses Pakistan to remove petroleum subsidies for revival of its programme
IMF emphasised the urgency of concrete policy actions, including in the context of removing fuel and energy subsidies and the FY2023 budget".
Russian Rouble gains value despite western economic sanctions
Russian Rouble continued the upward trend against dollar to become the best performing currency of the world. The strengthening of Russian currency, that too, due to its exports sector is impressive keeping in view the ongoing Russia-Ukraine war.
State Bank hikes base interest rate by 150 bps
Internally, domestic uncertainty, expansionary monetary policy and petroleum and energy subsidy, while externally the Russia-Ukraine war and the latest wave of Covid-19 in China influenced the decision.
UN body: Ukraine war has strongly impacted Pakistan’s economy
Inflation rate in Pakistan edged up to 13.4 per cent in April 2022, which is more than double the central bank’s inflation target.
APTMA Chairman dubs PTI’s ousting as cruel
Zaman added that the policies introduced by financial institutions during the tenure of the PTI-led government provided a very enabling environment for the businesses.
Russia boosts oil supplies with discounts
Crude exports grew by 300,000 barrels a day in April
Pakistan received $2.8 remittance in March 2022
According to the provisional report, overseas Pakistani’s from Saudi Arabia remitted $677.8 million in the month of March, making it the largest remitting partner of Pakistan.
Dollar climbs again, hits Rs.183.30
The rupee had ended at 186.60 to the dollar on Monday, after recovering from 188.18. Meanwhile, the Pakistan Stock Exchange (PSX) has soared by 200.71 points so far, crossing 46,345 points.
Pakistan’s stock market surges 1500 points
The market opened at 44,444 and recorded its highest of 46,023 before the clock struck 12. The current market index at midday stands at 45,975.
Sahulat Account: PSX no longer demands income source to invest
The Sahulat Account would open up a lot of investment opportunities for potential investors such as students, homemakers, and freshly employed people who were previously reluctant to invest in the bourse because of the long and tiring account opening process.
Stocks recover over 200 points amid political turmoil
Despite the prevailing political situation, the stock market exhibited a quick recovery. The market around midday stood at 44,143.3 points after recording a 0.5 percent change since it opened.