April 24, 2024 (MLN): Arif Habib, Pakistan’s business magnate and founder of the Arif Habib Group, emphasized the need for an immediate reduction in interest rates to bolster the economy, citing a significant decline in inflation. Speaking at a gathering of Karachi's business community during Prime Minister Shehbaz Sharif's one-day visit, Arif Habib said that inflation had significantly decreased, with April's figures expected to fall to around 17.5%. He also highlighted the International Monetary Fund's (IMF) projection of 12.7% inflation for FY25, a substantial drop from the curre ..read more

April 24, 2024 (MLN): The benchmark KSE-100 index closed Wednesday's trading session at 72,051.89 showing an increase of 692.49 points or 0.97%. The index remained positive throughout the day, showing an intraday high of 72,414.33 (+1054.92) and a low of 71,467.02 (+107.61) points. The total volume of the KSE-100 index was 324.513 million shares. The positivity comes amid improved economic conditions, with the country posting the highest monthly current account surplus in 9 years. Moreover, Federal Minister for Finance Muhammad Aurangzeb said on Tuesday that he expected the for ..read more

April 24, 2024 (MLN): China and Pakistan on Wednesday signed four Memorandums of Understanding (MoUs) focusing on Flood Rehabilitation, Information and Communication Technologies, Juncao Technology, and China-Pakistan Development Cooperation Planning (2024-2028). These MoUs also include the establishment of a First Aid Centre in Balochistan and the Protocol on Cooperation in Human Resources Development under the Global Development Initiative. According to a press statement released yesterday, Prime Minister Muhammad Shehbaz Sharif witnessed the signing ceremony along with a high-level de ..read more

April 24, 2024 (MLN): Nimir Industrial Chemicals Limited (PSX: NICL) recorded a drop of 51.78% YoY in its profitability during the quarter ended March 31, 2024, clocking in its profit after tax at Rs364.95 million [EPS: Rs3.3], compared to a profit of Rs756.77m [EPS: Rs6.84] in the same period last year (SPLY). Going by the results, the company's top line increased by 10.6% YoY to Rs12.28bn as compared to Rs11.1bn in SPLY. The cost of sales rose higher than proportionate to sales, which worsened the gross profit by 9.8% YoY to Rs1.88bn in 3QFY24. Accordingly, the gross margins worsened to 15 ..read more

April 24, 2024 (MLN): Gold prices in Pakistan ticked up after two straight drops as the 24-karat gold gained Rs1,100 per tola to reach Rs242,000 per tola. In the past two sessions, domestic gold dropped by Rs11,300 per tola on easing geopolitical tensions in the Middle East. The Karachi Sarafa Association further reported that the price of 24-karat gold at Rs207,476 per 10-gram, up Rs943 DoD. Similarly, the price of 22-karat gold was quoted higher at Rs190,186 per 10-gram. Conversely, silver prices also remain unchanged in the domestic market, with 24-karat ..read more

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