Page 16 - Alpha Beta Core News Today

Persistent increase in the value of the dollar is attributed to the growing current account deficit.

Persistent increase in the value of the dollar is attributed to the growing current account deficit.

Analyst says the market can take a new direction if it closes above 44,000 points.

Analyst says the market can take a new direction if it closes above 44,000 points.

Rising commodity prices and historic high trade deficit take a toll on Pakistani currency

Rupee depreciates around 1% KARACHI: Pakistani currency depreciated Rs1.54, or 0.95%, and closed at a nine-month low of Rs161.48 against the US dollar in the inter-bank market on Monday apparently due to increase in the outflow of foreign currency on account of a significant rise in imports. The currency had last closed above that level at Rs161.82 on October 22, 2020. The rupee came under pressure the same day when the State Bank of Pakistan (SBP) announced that the current account balance had...

Pakistan’s VCs expected to stake up with foreign funds July 13, 2021 KARACHI: Pakistan’s local venture capital industry is expected to expand while taking cue from growing investments from international funds in the country’s tech startups, an industry official said. Owais Zaidi, founder and CEO of CrediFix – the country’s first digital lending company – said the local venture capital (VC) industry is very nascent and bulk of investments are coming from international funds. “Eve...

Ghani Global Holdings Limited — a company listed in the ‘’Glass and Ceramics” sector of the Pakistan Stock Exchange (PSX) informed the investors last week that the apex regulator Securities and Exchange Commission of Pakistan (SECP) had approved the Company’s Employee Stock Option Scheme (ESOS). The company said it was allowed to issue shares of Rs10 each representing 15 per cent of its outstanding share capital to its eligible employees under ESOS, 2020, by way of other than right of...

Stand at $2.5 billion owing to use of formal channels by overseas Pakistanis

Rupee shoots to 23-month high Closes at Rs152.6 against dollar as remittances rise in Ramazan KARACHI: Pakistani rupee maintained its uptrend for the seventh successive working day and hit a 23-month high of Rs152.6 against the US dollar in the inter-bank market on Thursday following an increase in supply of foreign currencies compared to demand in the domestic market. With fresh appreciation of Rs0.44, the rupee has cumulatively gained Rs1.9 (or 1.23%) in the past seven working days and closed...