A Pragmatic Ethical President
The money will support major rehabilitation of the building to transform it from SRO-style permanent supportive housing into affordable housing for extremely low-income seniors aged 55 and older by mid-2026.
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Musk uses X to push his preferred political picks
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Transcontinental Inc. Announces Results for the Fourth Quarter and Fiscal Year 2024Stocks climb 121 points on hopes of bigger rate cut KARACHI: Stocks closed the week on a positive note, and the benchmark KSE-100 increased by 121 points amid speculations over the key policy rate next week, where investors expect a higher cut by the Monetary Policy Committee of the State Bank of Pakistan. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index increased by 0.11 per cent to 114,301.8 points against 114,180.51 points recorded in the last session. The highest index of the day remained at 115,172.45 points while the lowest level was recorded at 112,609.26 points. Ahsan Mehanti, an analyst at Arif Habib Corp, said, “Stocks showed a new all-time high as investors eyed a potential government-PTI patch-up, speculations over the potential SBP policy easing next week amid thin inflation, and the finance minister’s assurance over achieving stability.” He said that surging global crude oil prices and higher forex reserves played a catalyst role in the record close at the PSX The KSE-30 index increased by 104.09 points or 0.29 per cent to 35,805.43 points against 35,701.35 points. Traded shares decreased by 351 million shares to 1,118.570 million shares from 1,469.558 million shares. The trading value dropped to Rs59.511 billion from Rs67.278 billion. Market capital expanded to Rs14.587 trillion against Rs14.517 trillion. Of the 461 companies active in the session, 178 closed in green, 251 in red and 32 remained unchanged. Analyst Nabeel Haroon at Topline Securities said a range-bound session was observed at the exchange as the index traded between its intraday high of 992 points and intraday low of 1,571 points to close at 114,302 level (up by 0.11 per cent). The pressure was observed in the banking sector, where UBL, MEBL, BAHL, HBL and BAFL cumulatively lost 860 points to weigh down on the index. “Pressure can be attributed to noise that the committee formed earlier this week to discuss alternative options to the ADR-based tax regime has finalised recommendation,” he said. “To recall, through the Finance Act 2022, the government introduced higher tax rates on investment income for banks with the ADR (Advances to Deposit) ratio below 50 per cent to increase commercial lending and tax passive income.” Investor interest was observed in the oil sector as MARI (Rs5.29 billion), PSO (Rs3.89 billion), OGDC (Rs3.73 billion) and PPL (Rs2.71 billion) were top traded value-wise companies. The highest increase was recorded in Unilever Pakistan Foods Limited, which rose by Rs162.39 to Rs20,974.99 per share, followed by Hoechst Pakistan Limited, which increased by Rs140.93 to Rs2,815 per share. A significant decline was noted in Bhanero Textile Mills Limited, which fell by Rs58.11 to Rs791.89 per share; Al-Abbas Sugar Mills Limited followed it, which closed lower by Rs26.56 to Rs756.79 per share. WorldCall Telecom remained the volume leader with 129.897 million shares which closed flat at Rs1.79 per share. Pak Int Bulk with 75.509 million shares followed it, which closed higher by 60 paisas to Rs9.67 per share. Other significant turnover stocks included Treet Corp, Fauji Foods Ltd, K-Electric Ltd., Snergyico PK, Power Cement, Pak Elektron, Hascol Petrol and Citi Pharma Ltd. In the futures market, 306 companies recorded trading, 105 of which increased, 196 decreased, and 5 remained unchanged.Billionaire Elon Musk called Canada’s prime minister an “insufferable tool” on his social media platform today. Musk’s comments were in response to Justin Trudeau likening Kamala Harris’s defeat in the U.S. presidential election to an attack on women’s rights and progress. This afternoon, Trudeau met with provincial and territorial premiers to discuss Canada’s approach to negotiations with the U.S. Canada is facing a threat of a 25 per cent tariff hike from incoming president Donald Trump, who defeated Harris in the November election. Earlier this week, Trump taunted Trudeau on social media, referring to the prime minister as the governor of what he called the “Great State of Canada.” The post was an apparent reference to a joke Trump cracked at his dinner with Trudeau at his Mar-a-Lago estate nearly two weeks ago, where the president-elect teased that Canada could join the U.S. as its 51st state. Speaking on Tuesday night at an event hosted by the Equal Voice Foundation — an organization dedicated to improving gender representation in Canadian politics — Trudeau said there are regressive forces fighting against women’s progress. “It shouldn’t be that way. It wasn’t supposed to be that way. We were supposed to be on a steady, if difficult sometimes, march towards progress,” Trudeau said, adding he is a proud feminist and will always be an ally. “And yet, just a few weeks ago, the United States voted for a second time to not elect its first woman president. Everywhere, women’s rights and women’s progress is under attack. Overtly, and subtly.” In a post on X on Wednesday, Musk responded to a clip of Trudeau’s remarks, saying, “He’s such an insufferable tool. Won’t be in power for much longer.”
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