Business
Moody’s rating boost drives Pakistan Stock Exchange higher – SUCH TV
The Pakistan Stock Exchange (PSX) began Friday’s session on a strong footing, with investor sentiment buoyed by Moody’s decision to upgrade Pakistan’s credit rating.
By the Friday prayers break, the PSX benchmark KSE-100 index had surged 442.03 points, or 0.30 percent, reaching 146,971.33.
Out of 455 companies traded so far, 283 saw gains in share prices, 151 recorded losses, while 17 remained unchanged.
Analysts say the upward momentum reflects growing optimism over Pakistan’s economic outlook and macroeconomic stability, with Moody’s upgrade seen as a vote of confidence in the country’s recovery prospects.
Investors hailed the development, anticipating fresh opportunities in key sectors.
In contrast, the last trading session on Wednesday had closed in the red, with the index shedding 476.02 points (0.32 percent) to settle at 146,529.31.
On Friday, a total of 647,094,379 shares changed hands, compared to 691,658,929 in the previous session, while the traded value stood at Rs 40.896 billion, down from Rs 44.579 billion on Wednesday.
As many as 487 companies transacted their shares in the stock market, 199 of them recorded gains and 240 sustained losses, whereas the share price of 48 companies remained unchanged.
The three top trading companies were Yousuf Weaving with 51,807,110 shares at Rs 6.14 per share, Aisha Steel Mill with 48,592,372 shares at Rs12.92 per share and Bank of Punjab with 33,751,962 shares at Rs 14.26 per share.
Hoechst Pakistan Limited witnessed a maximum increase of Rs 201.10 per share price, closing at Rs 3,225.80, whereas the runner-up was Sindh Abadgars Sugar Mills Limited with Rs28.52 rise in its per share price to Rs 313.67.
PIA Holding Company LimitedB witnessed a maximum decrease of Rs328.13 per share closing at Rs 28,671.87 followed by Unilever Pakistan Foods Limited with Rs61.61 decline in its share price to close at Rs31,959.00.
Meanwhile, in the future market, as many as 323 companies traded shares in the market out of which 149 witnessed gain, 168 loss where the prices of 6 companies remained unchanged.
Business
Govt keeps petrol, diesel prices unchanged for coming fortnight – SUCH TV
The government on Thursday kept petrol and high-speed diesel (HSD) prices unchanged at Rs253.17 per litre and Rs257.08 per litre respectively, for the coming fortnight, starting from January 16.
This decision was notified in a press release issued by the Petroleum Division.
Earlier, it was expected that the prices of all petroleum products would go down by up to Rs4.50 per litre (over 1pc each) today in view of variation in the international market.
Petrol is primarily used in private transport, small vehicles, rickshaws, and two-wheelers, and directly impacts the budgets of the middle and lower-middle classes.
Meanwhile, most of the transport sector runs on HSD. Its price is considered inflationary, as it is mostly used in heavy transport vehicles, trains, and agricultural engines such as trucks, buses, tractors, tube wells, and threshers, and particularly adds to the prices of vegetables and other eatables.
The government is currently charging about Rs100 per litre on petrol and about Rs97 per litre on diesel.
Business
Serial rail fare evader faces jail over 112 unpaid tickets
One of Britain’s most prolific rail fare dodgers could face jail after admitting dozens of travel offences.
Charles Brohiri, 29, pleaded guilty to travelling without buying a ticket a total of 112 times over a two-year period, Westminster Magistrates’ Court heard.
He could be ordered to pay more than £18,000 in unpaid fares and legal costs, the court was told.
He will be sentenced next month.
District Judge Nina Tempia warned Brohiri “could face a custodial sentence because of the number of offences he has committed”.
He pleaded guilty to 76 offences on Thursday.
It came after he was convicted in his absence of 36 charges at a previous hearing.
During Thursday’s hearing, Judge Tempia dismissed a bid by Brohiri’s lawyers to have the 36 convictions overturned.
They had argued the prosecutions were unlawful because they had not been brought by a qualified legal professional.
But Judge Tempia rejected the argument, saying there had been “no abuse of this court’s process”.
Business
JSW Likely To Launch Jetour T2 SUV In India This Year: Reports
JSW Jetour T2 Launch: JSW Motors Limited, the passenger vehicle arm of the JSW Group, is reportedly preparing to enter the Indian car market this year. It has partnered with Jetour, a China-based automotive brand owned by Chery Automobile, and the Jetour T2 SUV could be the company’s first product, according to the reports.
Media reports suggest that the launch will happen independently and not under the JSW MG Motor India joint venture. The SUV will wear a JSW badge and name, instead of the Jetour branding. The upcoming SUV will be assembled at JSW’s upcoming greenfield manufacturing facility in Chhatrapati Sambhaji Nagar, Maharashtra.
According to the reports, the company plans to have the vehicle on sale by the third quarter of this year. With this move, JSW aims to establish itself as a standalone carmaker in India.
Expected Powertrain
The SUV is likely to arrive with a 1.5-litre plug-in hybrid setup. Internationally, this hybrid powertrain is offered with both front-wheel drive and all-wheel drive options. It is still unclear which version will be introduced in India.
Design
In terms of design, the T2 is a large and rugged-looking SUV. It has a boxy and upright stance, similar to vehicles like the Land Rover Defender. Despite its tough appearance, it uses a monocoque chassis instead of a ladder-frame construction.
Size
The SUV measures around 4.7 metres in length and nearly 2 metres in width. This makes it larger than the Tata Safari, even though it is a five-seater. A longer 7-seat version is also sold in some markets.
Price
Pricing details for India are yet to be announced. For reference, the front-wheel-drive five-seat T2 i-DM is priced at AED 1,44,000 (around Rs 35 lakh) in the UAE.
Jetour
Jetour is a brand owned by Chinese automaker Chery. Launched in 2018, it focuses mainly on SUVs and is present in markets across China, the Middle East, Africa, Southeast Asia and Latin America.
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