Karachi, August 30, 2024 — The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) showed resilience on Friday, gaining 138 points despite some profit-taking observed during the trading session. The index closed at 78,488 points, up from the previous day’s closing of 78,350 points.
(more…)Author: Shahnawaz Akhter
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SBP Designates Three Banks as Systemically Important for 2024
Karachi, August 29, 2024 – The State Bank of Pakistan (SBP) has announced the designation of Domestic Systemically Important Banks (D-SIBs) for the year 2024.
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Pakistan’s August Inflation May Drop to Single Digits: Analysts
Karachi, August 29, 2024 – Analysts at Insight Research have forecasted a notable decrease in headline inflation for August 2024, with projections suggesting that it may drop to single digits for the first time since October 2021.
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SBP Records $111 Million Increase in Foreign Exchange Reserves
Karachi, August 29, 2024 – The State Bank of Pakistan (SBP) has reported a modest increase in its foreign exchange reserves, marking a $111 million rise for the week ending August 23, 2024. This uptick brings the total reserves held by the central bank to $9.403 billion, up from $9.292 billion the previous week.
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Pakistan Stock Market Surges 357 Points Amid Volatile Trading
Karachi, August 29, 2024 – The Pakistani stock market experienced a robust rally on Thursday, defying initial volatility to close with a significant gain. The benchmark KSE-100 index surged by 357 points, ending the day at 78,350 points, a substantial improvement from the previous day’s closing of 77,993 points.
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Rupee Slumps 19 Paisas Under Foreign Payment Pressure
Karachi, August 29, 2024 – The Pakistani rupee faced renewed pressure on Thursday, succumbing to a 19-paisa decline against the US dollar. The weakening currency was primarily attributed to a surge in foreign payment demands, which outpaced inflows, highlighting the ongoing challenges faced by the country’s economy.
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FBR Announces Deductions for Property Income Tax: What Property Owners Need to Know
Karachi, August 29, 2024 – In a notable update for property owners across Pakistan, the Federal Board of Revenue (FBR) has announced several deductions available under the Income Tax Ordinance, 2001, for calculating tax on income derived from property.
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FBR Unveils Key Return Filing Deadlines for Tax Year 2024
Karachi, August 29, 2024 – The Federal Board of Revenue (FBR) has announced the deadlines for submitting annual income tax returns for the tax year 2024.
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FBR Facilitates Exporters of Unmanufactured Tobacco
Karachi, August 28, 2024 – The Federal Board of Revenue (FBR) on Wednesday issued a general order to ease the export process for unmanufactured tobacco, addressing longstanding concerns among exporters regarding the payment of federal excise duty (FED).
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FBR Mandates Deemed Income Tax for Traders in Simple Return
Karachi, August 28, 2024 – The Federal Board of Revenue (FBR) on Wednesday introduced a simplified return form for traders, making the declaration of deemed income mandatory under the new guidelines.
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