Karachi, November 28, 2024 – Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), announced an initial Rs 5 billion seed fund for the launch of a new airline, Air Karachi. This initiative, spearheaded by prominent business leaders, aims to revolutionize air travel in Pakistan.
(more…)Category: Top stories
Top stories featuring the most important and trending news updates from politics, business, world affairs, and breaking events across various sectors.
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PSX Celebrates First Closing Above 100K in Stunning Turnaround
Karachi, November 28, 2024 – The Pakistan Stock Exchange (PSX) achieved a historic milestone on Thursday as the benchmark KSE-100 Index soared past the 100,000-point mark for the first time. This remarkable achievement came in the wake of earlier market turbulence caused by violent protests in Islamabad.
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Landmark Achievement: PSX Reaches 100,000 Points
Karachi, November 28, 2024 – The Pakistan Stock Exchange (PSX) hit a historic milestone, surpassing 100,000 points at the start of trading on Thursday.
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Private Sector Credit Offtake Reaches Rs 880 Billion This Year
Karachi, November 27, 2024 – Credit offtake by the private sector from Pakistan’s banking system witnessed a remarkable surge, reaching Rs 880 billion during the first four and a half months of the current fiscal year, spanning July 1 to November 15, according to data released by the State Bank of Pakistan (SBP).
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Finance Ministry Optimistic for Progressive Economic Recovery
Islamabad, November 27, 2024 – The finance ministry has expressed optimism about Pakistan’s economic recovery, citing improvements in key sectors and a positive outlook for the coming months.
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PSX Touches Peak of 99,269 Points with Largest Single-Day Gain
Karachi, November 27, 2024 – The Pakistan Stock Exchange (PSX) witnessed a historic recovery on Wednesday, as the benchmark KSE-100 Index surged by an unprecedented 4,695 points, closing at a record high of 99,269. This 4.96% gain marked the largest single-day rise in the PSX’s history, signaling a strong comeback after a day of significant turmoil.
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Tax Collection from Cash Withdrawals Drops 21% in October 2024
Islamabad, November 27, 2024 – Tax revenue from cash withdrawals in Pakistan witnessed a sharp decline, plunging 21% year-on-year (YoY) in October 2024.
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PSX Bounces Back with 3.75% Surge as Political Calm Restored
A day after experiencing one of its worst single-day losses, the Pakistan Stock Exchange (PSX) rebounded strongly on Wednesday. The benchmark KSE-100 Index of PSX surged by over 3,500 points during midday trading, registering an impressive 3.75% recovery and signaling renewed investor confidence.
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Foreign Investors Withdraw $807 Million from Pakistan in 4MFY25
Karachi, November 26, 2024 – Foreign investors operating in Pakistan repatriated over $807 million under the head of profit and dividends during the first four months (July–October) of the fiscal year 2024-25, according to official data released on Tuesday.
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PSX Records Largest Single-Day Decline Amid Political Crisis
Karachi, November 26, 2024 – The Pakistan Stock Exchange (PSX) witnessed its largest single-day drop on Tuesday, with the benchmark KSE-100 index plummeting by 3,506 points, or 3.57%, due to the escalating political crisis in the country.
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