Friday, September 19 2025

PSX rises by 1,700 points on back of bolstered investor confidence after Saudi defence pact
The Pakistan Stock Exchange (PSX) rose by 1,700 points on Thursday to settle near the all-time high of 158,000 on the back of increased investor confidence after the signing of a mutual defence pact with Saudi Arabia. The benchmark KSE-100 index surged by 1,775.65 points, or 1.14 per cent, to close at 157,953.46 — its highest level in history. Pakis­tan and Saudi Arabia entered into a landmark mutual defence agreement, under which any aggression against one state will be considered an attack on both. The ‘Strategic Mutual Defence Agreement’ was signed by Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammad Bin Salman at the Al-Yamamah Palace in Riyadh on Wednesday. Talking to Dawn.com, Awais Ashraf, research director at AKD Securities, said the pact had “bolstered investor confidence”, driving the KSE-100 Index to an all-time high close with the second-highest trading volumes in today’s session.
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PSX ends flat as inflation concerns weigh
The Pakistan Stock Exchange (PSX) saw a volatile session on Wednesday, with the benchmark KSE-100 index closing nearly flat as profit-taking towards the end of the day dragged it into negative territory. The index fluctuated in a wide range, reflecting the market’s response to ongoing economic concerns, particularly the impact of flood-related agricultural losses on inflation. Inflation remained a key concern for investors, with the latest data from Topline Research indicating that the Consumer Price Index (CPI) for September is expected to rise by 6.5-7pc year-on-year, up from 3pc in August and 6.93pc in the same month last year. On a month-on-month basis, inflation for September is projected at 3.1pc, the highest in 26 months. The surge is largely attributed to rising food prices, with supply-side disruptions caused by the recent floods exacerbating the situation.
Related news categories: business economic-indicators psx stock-exchanges

$7.7bn package for Reko Diq approved
The government on Thursday approved definitive agreements and financial commitments for the revised cost of $7.723 billion for the first phase of the Reko Diq Copper-Gold Project, clearing the way for formal signing within two weeks. The Economic Coordination Commit­tee (ECC) of the cabinet, chaired by Finance Minister Muha­mmad Aurangzeb, endorsed agreements between state-owned entities (SOEs), the Balochistan government and lenders to operationalise the country’s largest mining venture. The estimated cost for Phase-I has risen by 14 per cent from $6.765bn in March to $7.723bn, mainly due to higher financing costs following an increase in project debt and the inclusion of cost contingencies. Financing structure The project’s financing debt has been revised from $3bn to $3.5bn. With this increase, total shareholders’ financial commitments are projected to rise by $458m. However, if RDMC — the project company — manages to keep development close to $6.946bn, shareholders’ total contribution would reduce to $3.446bn, compared to the earlier $3.765bn.
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India’s securities and exchange board dismisses Hindenburg allegations against Adani group
The Securities and Exchange Board of India (SEBI) on Thursday dismissed allegations of stock manipulation against billionaire Gautam Adani and his group of companies made by US short-seller Hindenburg Research. SEBI began investigating Adani Group companies, including Adani Ports, Adani Power and Adani Enterprises, in 2023 after Hindenburg accused them of using tax havens and failing to disclose transactions between related parties. While the conglomerate denied wrongdoing, the accusations led to a $150-billion sell-off of the group’s stock. The shares have since recovered. “SEBI has reaffirmed what we have always maintained, that the Hindenburg claims were baseless. Transparency and integrity have always defined the Adani Group,” Gautam Adani, chairman of Adani Group, said on X.
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Telenor Pakistan empowers its people for an AI ready tomorrow
As artificial intelligence reshapes industries across the globe, Telenor Pakistan is ensuring that the transition to an AI-First future begins with its people. The company recently marked AI Day as part of the Telenor Group’s global celebrations, showcasing how it is embedding AI not just into systems but into skills, culture and daily ways of working. At the heart of this vision is AI Verse, a new learning pathway designed to equip employees with practical and inclusive skills for the future. For Areej Khan, Chief People Officer at Telenor Pakistan, this investment reflects a mindset shift that places employees at the centre of digital transformation. Building an AI-first culture For Telenor Pakistan, becoming AI-First is about much more than technology. “Technology gives us the tools to reimagine customer experience, enhance reliability and create smarter operations,” explains Khan. “But technology alone cannot deliver value unless our people have the right skills to use it and the mindset to embrace it.”
Related news categories: business economic-indicators tech-comm