Stocks surge as SBP leaves rate on hold

[ KARACHI: The Pakistan Stock Exchange (PSX) reversed course on Monday following two days of profit-taking as the State Bank of Pakistan’s monetary policy committee (MPC), in a widely anticipated move, left policy rate on hold at 11%. Triggered by investor interest in selective stocks of banking, cement, fertiliser and energy sectors, the benchmark KSE-100 … Read more

Industry decries SBP’s ‘incomprehensible’ move

[ KARACHI: The business community has voiced sharp criticism of the State Bank of Pakistan’s (SBP) decision to maintain the policy rate at 11%, calling it “incomprehensible” and “counterproductive” at a time when inflation has dropped to just 3%. Leaders of the Korangi Association of Trade and Industry (KATI), the Federation of Pakistan Chambers of … Read more

US, China reach framework deal on TikTok

MADRID/ WASHINGTON: US and Chinese officials said on Monday they have reached a framework agreement to switch short-video app TikTok to US-controlled ownership that will be confirmed in a Friday call between US President Donald Trump and Chinese President Xi Jinping. After a meeting with Chinese negotiators in Madrid, US Treasury Secretary Scott Bessent said … Read more

Gold holds steady ahead of Federal Reserve decision

[ KARACHI: Gold prices in Pakistan remained unchanged on Monday, holding near record highs, as global investors awaited a key US Federal Reserve policy decision later this week. According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold per tola stood firm at Rs386,300, while 10 grams held steady at … Read more

French ‘national treasures’ stolen from Limoges museum

Two Chinese trays and a vase considered “national treasures” were stolen overnight at the start of the month from the Adrien Dubouché National Museum in the central French city of Limoges. The museum, which has a rich collection of porcelain, suffered losses amounting to several million euros. Three porcelain artworks were stolen during a break-in … Read more

Jakarta invites traders to forge joint ventures

[ LAHORE: Indonesian Ambassador Chandra W Sukotjo has said that Indonesia offers wide investment opportunities and their benefits can be reaped by Pakistani entrepreneurs through forming joint ventures and partnerships. The ambassador, who visited the Lahore Chamber of Commerce and Industry (LCCI) along with his economic team on Monday, underlined that there exists vast potential … Read more