KARACHI – Pakistan Stock Exchange (PSX) reported a striking week, with flagship KSE-100 Index climbing by 1,951 points to close at 85,483.

This surge marks significant bullish trend as the index fluctuated within a range of 3,147 points throughout the week, reaching a high of 86,451 and a low of 83,303.

Investors were active, trading 2.61 billion shares, resulting in a weekly trading value of Rs148.62 billion. Additionally, the market capitalization saw a substantial increase, rising from Rs277 billion to Rs11.156 billion.

On Tuesday, market surged by 686.5 points, achieving a record closing of 85,597 points, an increase of 0.81 percent. Analysts attribute this positive momentum to favorable market sentiment linked to expectations of a potential policy rate cut.

The bullish trend is further supported by an improving macroeconomic outlook and heightened interest in key sectors such as automobiles, cement, commercial banks, fertilizers, and oil companies, boosting overall investor confidence.

PSX closes up as KSE-100 recovers from day-long negative session

Maen Khreasat, Ambassador of Jordan in Islamabad has expressed keen interest to expand bilateral trade cooperation between Pakistan and his country, through enhanced bilateral cooperation across various sectors including tourism, Agricultural, tourism and health services.

He said that Jordan valued its historical and friendly relations with Pakistan and was keen to further enhance its trade ties with it for mutual benefit. The ambassador remarked this while talking to a delegation of Rawalpindi Chamber of Commerce and Industry (RCCI) led by President Usman Shaukat, who called on him on Friday evening.

According to the details, the delegation which included Vice President Fahad Barlas, and EC member Falak Anjum discussed with the ambassador the matters related to bilateral trade, investment opportunities, networking & chamber to chamber connectivity and exchange of trade delegation to explore the potential cooperation between the both countries. RCCI President Usman Shaukat in his remarks reiterated RCCI’s commitment to facilitating joint ventures, promoting bilateral trade, and enhancing investment opportunities.

He highlighted the chamber’s readiness to assist in organizing business forums, exchanging trade delegations, and cultural exchange programs to strengthen bilateral economic ties between the two nations.

He further reiterated that RCCI would work tirelessly to support initiatives aimed at mutual growth and development, ensuring a prosperous partnership between Pakistan and Jordan.—APP

Popular Saudi food chain “AlBaik Food System Company” might be opening in Pakistan as a memorandum of understanding (MoU) has been signed between the company and Gas and Oil Pakistan Ltd (Go) under the Saudi Ministry of Investment.

The Jeddah-based food chain’s broasted chicken, fries, delicious nuggets and a myriad of sauces are very popular among the people. Most of Pakistani expatriates believe that the visit to Saudi Arabia is incomplete without this delicious chicken.

Reflecting Saudi Vision 2030 to enhance exports of rich national expertise and open new horizons for Saudi commercial expansion globally, this agreement would explore the possibility of establishing a strategic partnership to set up and operate Al Baik restaurants in Pakistan, marking a key step in Al Baik’s expansion strategy across the country.

The signing ceremony was held under the patronage of Saudi Minister of Investment, Engineer Khalid Al-Falih, and high-ranking delegations from both Saudi and Pakistani sides in attendance.

This event is the result of the Saudi Ministry of Investment’s persistent efforts to empower Saudi brands to expand internationally and enhance the kingdom’s standing in the global economic arena.

Go, in which Saudi Aramco has acquired a 40% stake, is a leading player in Pakistan’s oil and gas sector. This partnership underscores the kingdom’s commitment to diversifying its economy and creating new growth opportunities in foreign markets.

This initiative highlights the crucial role played by the Saudi Ministry of Investment in realising the objectives of Vision 2030 and reinforcing the kingdom’s position as a leading economic force both regionally and globally.