PSX rebounds as KSE-100 Index gains 229.97 points

KARACHI: Pakistan bourse rebounded on Wednesday, as Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin dispelled the impression that the government-International Monetary Fund (IMF) deal is intact and the negotiations are at an advanced stage, dealers said. The Pakistan Stock Exchange KSE-100 shares Index gained 0.5 per cent, or 229.97 points, to close at 46,629.88 points. — STAFF REPORT

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Rupee falls for third straight day

KARACHI: The rupee continued declining trend against the dollar for the third consecutive day on Wednesday, as it depreciated to Rs172.93 in the interbank foreign exchange market, dealers said. The exchange rate witnessed a drop of Rs1.30 in its value against the dollar from the previous day’s closing of Rs171.63 in the interbank foreign exchange market. — STAFF REPORTER

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Senate panel wants wheat support price hike

ISLAMABAD: A Senate committee has suggested the government to increase wheat support price by Rs500 to Rs18,500/40kg from the existing level of Rs1,800. — HAMZA HABIB

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Govt, ITFC sign $761.5 million financing agreement

ISLAMABAD: The Ministry of Economic Affairs and the International Islamic Trade Finance Corporation (ITFC) have signed a financing agreement worth $761.5 million to import crude oil, refined petroleum products and liquefied natural gas. — HAMZA HABIB

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Shaukat Tarin asks provinces to flood markets with imported sugar

ISLAMABAD: Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin has directed all the provinces to flood the markets with imported sugar to bring down the prices. — STAFF REPORTER

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‘Govt should incorporate inclusive fiscal-monetary policy’

LAHORE: The government should incorporate evidence-based and inclusive fiscal-monetary policy to achieve the sustainable development goals target. — STAFF REPORTER

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Digital transformation must for Islamic financial services growth: Dr Baqir

KARACHI: Digital transformation of the global Islamic financial services has become a necessity for its growth, an official said on Wednesday. — STAFF REPORTER

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Lack of skills biggest barrier to digital learning: report

ISLAMABAD: Physical access to the internet or a device was the biggest barrier to digital learning across the world. — STAFF REPORTER

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CDC launches Pakistan’s first professional clearing member

KARACHI: The Central Depository Company launched Pakistan’s first professional clearing member in collaboration with the Pakistan Stock Exchange and the National Clearing Company of Pakistan Limited. — STAFF REPORTER

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Pace of work on Punjab PSDP projects reviewed

LAHORE: Punjab Planning and Development Board chairman Abdullah Khan Sumbal chaired a meeting to review the pace of work on the Public Sector Development Programme projects, including roads, irrigation, agriculture, livestock, health, higher education, climate change and energy. — STAFF REPORTER

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President Alvi links Pakistan’s progress with digitalisation of all sectors

ISLAMABAD: President Dr Arif Alvi said that Pakistan’s progress is linked with extensive digitalisation of all the sectors, particularly education and health, and stressed for fast decision-making to match the global advancements in information technology. — APP

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Easypaisa partners with Barwaqt to digitalise financial services

KARACHI: Easypaisa, Pakistan’s leading digital payments platform, has partnered with Barwaqt, an instant loan disbursal service, to digitalise the latter’s loan collection and disbursement process through Easypaisa financial solutions, a statement said. — STAFF REPORTER

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Pakistan-based app ‘Udhaar Book’ raises $6 million

RIYADH: The Pakistan-based fintech and e-commerce super app “Udhaar Book” has successfully raised $6 million in a seed round with participation from regional and international investors. The total funding deployed in Pakistan grew $8 million in 2021 through four deals in October. — WEB DESK

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China’s slowdown raises questions for global economy

WASHINGTON: The Chinese economy, weighed down by electricity shortages and a vast real estate crisis, has lost its lustre recently, to the point where economists are starting to question its impact on the global growth it has helped drive for more than 20 years. — AFP

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