Connect with us

Entertainment

PSX climbs on strong results, improved economic outlook

Published

on

PSX climbs on strong results, improved economic outlook


Broker is busy in trading at Pakistan Stock Exchange in Karachi on Wednesday, January 1, 2025. — PPI

Stocks moved within a tight band on Friday as mutual fund activity, robust earnings, and optimism over economic prospects kept the equity market steady.

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index climbed to an intraday high of 147,534.41, gaining 1,005.11 points, or 0.69%, before retreating to a low of 146,894.62, reflecting a fall of 35.22 points, or 0.02%.

“It’s a range bound activity nowadays led by mutual funds’ liquidity and earnings seasons. Moody’s credit rating is already incorporated,” added AAH Soomro, an independent investment and economic analyst.

“Better results, expectations of further improvement in economic environment are driving the market,” said Samiullah Tariq, Head of Research and Development at Pakistan Kuwait Investment Company.

Moody’s upgraded Pakistan’s credit rating from Caa2 to Caa1, citing an improved external position and progress on reforms under the IMF (International Monetary Fund) Extended Fund Facility (EFF) programme.

The agency noted that foreign exchange reserves are likely to continue improving, though dependent on timely financing from official partners, while fiscal strengthening is supported by a broader tax base. However, it cautioned that debt affordability remains among the weakest globally, with governance and political uncertainty still high.

This marks the third upgrade in four months, following similar moves by S&P Global Ratings and Fitch Ratings, underpinned by Prime Minister Shehbaz Sharif’s government’s commitment to fiscal consolidation and reforms.

On the performance front, Pakistan secured the top global spot for equity returns in USD over FY24–FY25 combined, Bloomberg data showed. In FY25 alone, Pakistan ranked eighth globally but outperformed regional peers, returning far more than India’s BSE Sensex (+3.2%), China (+14.8%) and India’s broader market (+6%), according to AHL data.

The State Bank of Pakistan’s (SBP) latest Monetary Policy Report (MPR) projected GDP growth at 3.25–4.25% in FY26 and a current account deficit between zero and 1.0% of GDP.

With the policy rate maintained at 11% in June and July, the SBP expects the real policy rate to remain positive to stabilise inflation within target. Reserves are forecast to reach $15.5 billion by end-December 2025, supported by projected financial inflows and continued SBP FX purchases.

On Wednesday, the KSE-100 decreased by 476.02 points, or 0.32%, to 146,529.31 points from 147,005.32 points recorded in the last session. The highest index of the day remained at 147,892.25 points, while the lowest level was recorded at 146,417.8 points.





Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Entertainment

Sarah Ferguson speaks out over Beatrice, Eugenie troubles: ‘Difficult’

Published

on

Sarah Ferguson speaks out over Beatrice, Eugenie troubles: ‘Difficult’


Sarah Ferguson speaks out over Beatrice, Eugenie troubles: ‘Difficult’

Sarah Ferguson has made a big sacrifice for her daughters, Princess Beatrice and Princess Eugenie, despite their U-turn.

In 2025, Epstein files made it to the headlines, bringing negative spotlight on all those who were part of Jeffrey’s circle, including King Charles’ former sister-in-law.

Fergie called Epstein a “legend” and her “supreme friend” even after his crimes were exposed.

The moment King Charles took away every kind of royal perks from Andrew and his ex-wife, Sarah was nowhere to be seen in the UK.

The only time she was photographed was at the christening ceremony of her granddaughter Athena.

Most recently, Sarah was spotted in Austria’s chalet in the mountains.

Now, Fergie’s cousin Martin Barrantes revealed when the former Duchess made a secret exit from the limelight.

In a conversation with the Daily Mail, he said, “I have spoken to her [and] can tell you that she just wants to protect her children and her grandchildren.”

Sarah’s disappearance from the media is reportedly for the well-being of her daughters.

Martin shared that he talked to Fergie three months ago, revealing that she is going through a “difficult moment.”

It is also important to note that Beatrice and Eugenie have been maintaining a distance from their parents in order to save their royal roles, which was seen as a betrayal by many. 





Source link

Continue Reading

Entertainment

Kim Kardashian, Lewis Hamilton hard launch relationship with date night

Published

on

Kim Kardashian, Lewis Hamilton hard launch relationship with date night


Kim Kardashian, Lewis Hamilton hard launch relationship with date night

Kim Kardashian and Lewis Hamilton have all but confirmed they are the latest power couple in Hollywood, hard-launching their relationship with a high-profile date night in Malibu. 

The SKIMS mogul and the British Formula 1 champion were spotted enjoying an intimate two-hour dinner at Nobu on Saturday, looking entirely smitten as they made their way to the oceanfront celebrity hotspot. 

Pulling up in a luxury 2026 Mercedes-Maybach, Hamilton lived up to his “perfect gentleman” reputation by hopping out to open the door for Kardashian, who was seen beaming as she stepped out to join him.

The pair didn’t seem interested in playing it cool for the cameras, emerging from the restaurant around 11 PM with matching smiles that suggested they are well past the “just friends” stage. 

Kardashian opted for a soft, flirty look in a begonia pink zip-up top paired with a floor-length beige skirt, while the 41-year-old Stevenage native kept things polished in a gray bomber jacket and dark slacks. 

While they have been friends for years, the romance reportedly shifted into high gear earlier this year after they were spotted at hotels in the Cotswolds and Paris. 

The relationship has already earned the seal of approval from the Kardashian clan, with insiders noting that the family is particularly fond of Hamilton’s easygoing energy. 

Hamilton has previously been linked to stars like Nicole Scherzinger and Rihanna.

With a series of public appearances ranging from the Super Bowl to intimate dinners, it’s clear the couple is no longer hiding their connection.

For fans of both the reality star and the F1 legend, this Malibu date night serves as the clearest sign yet that they are going full throttle on their new life together.





Source link

Continue Reading

Entertainment

Daniel Radcliffe compares ‘Harry Potter’ movies: ‘Which one was better’?

Published

on

Daniel Radcliffe compares ‘Harry Potter’ movies: ‘Which one was better’?


Daniel Radcliffe compares ‘Harry Potter’ movies: ‘Which one was better’?

Daniel Radcliffe has weighed in on the great Harry Potter ranking debate, and he’s not afraid to go against the grain.

The 36-year-old actor, who played the boy wizard across all eight films from 2001 to 2011, appeared on the Happy Sad Confused podcast with Josh Horowitz and was challenged to rank the franchise he knows better than almost anyone. 

He admitted upfront that he hasn’t actually watched the films in quite some time, and that his relationship with his own performances shifts over time. 

“When I was 18, I would cringe watching the earlier films. Now, I think the early films are sweet and now I cringe watching myself when I was 18 or 19,” he said. 

“But I assume that those dates will just keep changing as to what I find palatable of my own work.”

When it came to the early instalments, he gave the edge to Chamber of Secrets over Sorcerer’s Stone, purely on the strength of one creature. 

“I would take Chamber of Secrets out of those two ’cause I love the Basilisk,” he explained.

His most eyebrow-raising call came when comparing Goblet of Fire with the widely beloved Prisoner of Azkaban, which many fans and critics consider the artistic high point of the series. 

Radcliffe went the other way. 

“I know everyone wants me to say Azkaban. I know that’s how everyone else feels, but I love the stuff I got to do on the fourth movie; it was awesome. So I’ll say Goblet of Fire.”

At the top of his personal ranking sits Deathly Hallows Part 2, the emotional finale of the series, a choice that feels fitting given the weight of what that film represented for everyone involved.

At the bottom? 

Half-Blood Prince. And he was quick to take responsibility for that verdict. “Half-Blood Prince is probably the bottom of the bracket for me. And that’s my own stuff. That’s not the film.”





Source link

Continue Reading

Trending