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Bears took control of the trade floor at the Pakistan Stock Exchange (PSX) on Monday as shares declined by 1,200 points. The benchmark KSE-100 index declined by 1,207.25 points, or 1.07 per cent, to stand at 112,044.41 points from the last close of 113,251.66 at 1:32pm. Finally, the index closed at 111,986.88, down by 1,264.78 points or 1.12pc, from the previous close. Yousuf M. Farooq, director research at Chase Securities, said, “Shares worth only Rs18 billion were traded today on the first day of Ramazan, as market activity remained subdued due to shorter trading hours — Ramazan typically sees lower…

In GCC markets, investor sentiment could be impacted by concerns over the economic fallout from new U.S. tariffs on China, Canada and MexicoAsian shares rose on Monday as markets awaited new tariffs by the new U.S. administration. Meanwhile, bitcoin surged after U.S. President Donald Trump announced on social media five digital assets he expected to include in a new U.S. strategic reserve, including bitcoin, ether, XRP, solana and cardano.Bitcoin surged 10 percent on Sunday before trimming some gains on Monday to $93,230, while ether fell back to $2,448 after climbing 13 percent yesterday.GCC market: Earnings, shareholder meetings and tariffs in…

As part of the agreement, bridges and roads will be developed to improve access points for five key Dubai Holding developmentsDubai’s Roads and Transport Authority (RTA) and Dubai Holding, a diversified global investment company and a leader in large-scale development projects, recently signed a contribution and traffic solutions implementation agreement worth AED6 billion ($1.63 billion), in the presence of His Highness Sheikh Ahmed bin Saeed Al Maktoum, chairman of Dubai Holding.The RTA and Dubai Holding’s agreement will contribute to enhancing infrastructure across key development communities and projects throughout the emirate, including Dubai Islands, Jumeirah Village Triangle, Palm Gateway, Al Furjan,…

India’s Trade Minister Piyush Goyal started on a trip to the United States on Monday to pursue trade talks, two government officials said, with weeks to go for President Donald Trump’s planned reciprocal tariffs. Goyal’s visit was sudden, as he departed after cancelling previously scheduled meetings until March 8, the officials said. He is also the minister for industry. India’s trade ministry did not immediately respond to an emailed request for comment. During Prime Minister Narendra Modi’s visit to the US last month, both nations agreed to work on the first segment of a trade deal by the fall of…

Chinese tourists are increasingly turning away from traditional destinations such as the United States and Europe in favour of hotspots in the Middle East, Southeast Asia and Latin America, according to foreign exchange firm Travelex.The company has seen a marked shift in the currency exchanges requested by its Chinese customers since 2019, with US dollars, euros and British pounds becoming less popular, an executive at the company told the Post.“The US overall probably was about 27 per cent of our volume in 2019,” said Cameron Hume, global wholesale director at Travelex in Shanghai. “It’s now about 17 per cent.”The trend…

A US arbitrator has denied Zia Chishti, the former chief executive officer (CEO) of TRG Pakistan, a motion to block Greentree Holdings Limited (GHL) from proceeding with a tender offer and to accelerate TRG Pakistan’s board elections. The development was disclosed by TRG Pakistan in its notice to the Pakistan Stock Exchange (PSX) on Monday. “TRG Pakistan Limited had previously disclosed on February 17, 2025, that on January 28, 2025, the company’s former CEO, Zia Chishti, filed a motion for preliminary injunction in a US arbitration involving the company, seeking to stop GHL from proceeding with its tender offer, while…

Selling pressure persisted at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index losing nearly 1,300 points to settle below 112,000 level on Monday. At close, the KSE-100 Index settled at 111,986.88, a decrease of 1,264.78 points or 1.12%. Selling was witnessed across key sectors including automobile assemblers, cement, chemical, oil and gas exploration companies, OMCs and refinery. Key stocks contributing to the downturn included ENGROH, UBL, MCB, MTL, and PPL, which together accounted for a drop of 731 points in the index, brokerage house Topline Securities said. “The negative sentiment was driven by the lack of a positive…

ISLAMABAD: The Government’s economic management team has taken a curious stand on the very damaging issue of inflation that the people of Pakistan have had to endure during the last two years. The high inflation has pushed a large segment of the population close to the poverty line. This was stated by Founder Citizens for Reforms, Aamir Mumtaz who is also former Chairman PSMA Board. Pakistan’s inflation projected to reach 2.3% in February He said that household finances have been worsened and personal savings obliterated with more and more people having to borrow to make both ends meet, adding that…

FAISALABAD: New SME policy is at the anvil which would further accelerate the process of industrialization at the grass root level, said Qazi Saddam Naseer, Regional Business Coordinator SMEDA. Addressing a Budget Consultative Session organized by SMEDA in collaboration with the Faisalabad Chamber of Commerce & Industry (FCCI), he underlined the importance of the SME sector and said that women should also be motivated to contribute their productive role in the development of this fundamental sector. He said that Faisalabad has a business and industrial eco-friendly system and hence we must prepare comprehensive recommendations to fully exploit this available potential…

ISTANBUL: Turkey’s economy grew 3.0% year-on-year in the fourth quarter of 2024, bringing full-year growth to 3.2%, official data showed on Friday, exceeding forecasts despite the weight of high interest rates. The government, which had initially projected 3.5% growth for 2024, had trimmed its expectations to reflect ongoing adjustments in domestic demand and efforts to slow down annual inflation, which exceeded 75% in May and is now just over 40%. Finance Minister Mehmet Simsek said balanced growth was achieved in 2024 with the contribution of 2.1 points from domestic demand and 1.1 points from net foreign demand. “More favourable financial…