Business

Benchmark index dives 368.96 points to settle at 47,318.03

Crude oil has risen 44% this year helped by demand recovery and supply curbs by OPEC+

Decides to auction spectrum in line with past practice by end of Sept 2021

Projects spike in imports, current account deficit and drop in remittances

Warns disparities between nations are widening as developing countries fall behind

Maintains status quo to keep cost of borrowing at lower level, push growth

Finance minister’s close associate has been assigned task of integrating 500,000 POS with FBR system

PHMA chief coordinator demands restoration of zero-rating facility for textile sector

NA panel grills commerce ministry over absence of secretary

Brent futures rose 5 cents, or 0.1%, to $74.55 a barrel

Closes at Rs161.32 in the inter-bank market

Benchmark index edges up 14.31 points to settle at 47,686.99

Prices held ground even after US issued travel warnings to Spain, Portugal due to rising virus cases

Announcement in line with market expectations

Small segment expects central bank to raise policy rate by 25-50bps in today’s meeting

Blocks move to investigate low tax recovery in offshore asset cases

Files petition with Nepra for 80 paisa increase under fuel cost adjustment

Resumption of inflow of remittances, export earnings lends support to local currency

Plans to introduce its first SUV Chery Tiggo 8 in September

Funding will help create jobs, improve resource efficiency and drive economic growth

Members stress exploring local oil and gas resources

Govt to import sugar to build reserves, offload during shortages to stabilise prices

The meeting resolves to provide an uninterrupted supply of gas and electricity to the industries

Companies will also collaborate in research and development to promote electric charging infrastructure and facilities

More companies prepare to adopt crypto payment models

Benchmark KSE-100 index sheds 120.39 points to settle at 47,672.68

More companies prepare to adopt cryptocurrency payment models

Both crude benchmarks slipped over $1 a barrel in earlier trading

In absence of adequate domestic supply, demand can only be satisfied through imports

Islamabad should roll out comprehensive semiconductor manufacturing policy

Companies aim to utilise technology to bridge gap between producers and consumers

Movement of cryptocurrencies is largely based on speculation, news and tweets

Amazon platform, exporter facilitation will accelerate shipments from Pakistan

USTR drops tariff threat

Global insurance recovery will be faster

Downgrades $200m locust control project to moderately satisfactory

Upbeat earnings, signs of economic revival fuel investor risk appetite

Says if Congress does not act by Aug 2 Treasury Department will need to take extraordinary measures

Automakers race to develop electric cars as EU, China mandate lower carbon emissions

Temporary Economic Refinance Facility plays key role in boosting banks’ credit

ICCI chief suggests automating system to reduce people-to-people contact

Aviation Division proposed exemption to new authorities for five years to manage airports

Eid holidays, rising Covid-19 cases hamper activity at Pakistan Stock Exchange

Virus, disasters and cyber-attack drive global supply chains towards breaking point

Increase comes following receipt of $1b in proceeds of Eurobonds

Move comes as tourist flow increases due to global travel curbs

Directs relevant division to readvertise post to find suitable candidate

Exports become viable, imports expensive due to rupee depreciation

Benchmark KSE-100 index drops 0.17% to settle at 47,793.07

Both contracts fell about 7% on Monday but managed to recoup the losses