Drivers push their autorickshaws as they wait in a queue to refuel outside a fuel station, after the government declared a weekly Wednesday holiday for public officials to conserve fuel amid concerns over fuel supplies during the US-Israel conflict with Iran, in Colombo, Sri Lanka, March…
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SBP raises policy rate by 100bps to 11.5% as inflation risks mount
An undated image of the State Bank of Pakistan building in Karachi. — AFP
The State Bank of Pakistan raised its benchmark policy rate by 100 basis points to 11.5% on Monday, opting for cautious tightening as oil price volatility and renewed inflation risks clouded the…
PSX extends gains on Middle East peace hopes
Pakistani trader stands beneath an electronic board displaying share prices at the Pakistani Stock Exchange . — INP/File
KSE-100 Index closed at 168,514.44, up 3,683.02 points, or 2.23%.Index hit intraday high of 168,869.18, up 4,037.76 points, or 2.45%.Index recorded a low of…
‘$5bn aid may ease short-term pressure, not long-term interest’
A foreign currency dealer counts US dollars at a shop in Karachi, on May 19, 2022. — AFP/File
Musadaq Zulqarnain, a Pakistan Business Council member, said that the $5bn aid from friendly countries may ease short-term pressures but is not in Pakistan’s long-term…