Karachi, July 01, 2020: The pandemic has triggered the deepest global recession in decades. We have witnessed slowdown in Pakistan’s economy and downside risk to growth has increased. However, the fiscal and monetary authorities have responded with unprecedented economic policies including fiscal stimulus, monetary easing and debt moratorium. The recent reduction of Policy Rate to…
Karachi, July 01, 2020: The benchmark index rose to touch an intraday high of +502 points before closing at 34,889 level (up 467 points). Traded volumes improved by 41 percent DoD to 315 million shares while value traded increased to US$63 million. Top volume stocks of the session were KEL (+9.0 percent), HUMNL (+7.8 percent)…
“Pakistan is diversifying its exports into engineering products” – Adbul Razzak Dawood Advisor to PM Karachi, July 01, 2020: Dawlance has once again proved its technology leadership in Pakistan. It has now become the first company in Pakistan to export globally competitive Micro-wave ovens. This export-consignment is a part of Dawlance’s commitment to enrich Pakistan’s…
Karachi, July 01, 2020: Bus ride-hailing service Airlift has introduced a new online grocery shopping service in Pakistan introduced as ‘Airlift Grocer’, bringing in an impressive foreign investment of $10 million. This investment comes to Pakistan at a time when the economy is crippled due to the havoc caused by Covid-19 and creation of new…
Karachi, July 01, 2020: The Pakistan Credit Rating Agency Limited (PACRA) has maintained BankIslami’s long-term entity rating at A+ (short term rating at A1) with a Stable Outlook. The ratings reflect BankIslami’s sustained risk profile. The Bank’s profitability enhanced owing to asset yield driven by peaked policy rates and volumetric increase in financing and instruments….