Global News

[ad_1] KARACHI: Pakistan has won back confidence of global investors as the country risk premium fell significantly from the peak of over 14% in June while its dollar-denominated Eurobond prices rose notably. Topline Securities CEO Mohammed Sohail said on social media platform X “Pakistan’s country risk premium has fallen significantly from its peak of 14.13% on June 27, 2023 to the current level of 3.35%. This shows building investor confidence in Pakistan post-IMF standby arrangement (SBA).” The reduction in risk premium signals the revival of global investors’ trust in Pakistan’s equity and debt instruments from the earlier negative stance. On the other hand, prices of Pakistan’s Eurobonds worth $1 billion maturing in April 2024 surged to 94.08 cents from near 50 cents in June. Prices of other Eurobonds and Sukuk also maintained their uptrend since the IMF awarded a $3 billion loan programme at the end of June 2023. Talking to The Express Tribune, Pak-Kuwait Investment

[ad_1] Last Updated: July 05, 2023, 02:13 IST New York, United States of America (USA) Previous flare-ups also benefited the U.S. dollar, reducing demand for gold. Spot gold rose 0.4% to $1,928.09 per ounce by 09:31 a.m. EDT (1331 GMT), with trading volumes likely thinned by a U.S. holiday Gold prices edged higher on Tuesday as some traders bet that recent weak U.S. economic data may prompt the Federal Reserve to rethink its rate-hike trajectory, while also awaiting further cues from the minutes of the central bank’s last meeting. Spot gold rose 0.4% to $1,928.09 per ounce by 09:31 a.m. EDT (1331 GMT), with trading volumes likely thinned by a U.S. holiday. U.S. gold futures gained 0.3% to $1,935.90. “Weaker-than-expected U.S. economic data released on Monday, including PMIs, have supported gold. Market participants will closely track upcoming U.S. job market data, watching if previous U.S. interest rate hikes will slow down the U.S. economy," UBS analyst Giovanni Staunovo s