KARACHI: The State Bank of Pakistan (SBP) on Monday raised the key policy rate by 150 basis points to 13.75 per cent from the existing 12.25 per cent. The massive hike is as per the market expectations on the backdrop of severe economic crisis and a sharp fall in the rupee value. The SBP said … Read more
KARACHI: The prices of gold witnessed an increase of Rs350 in the local market to an all-time high of Rs138,700/tola on Friday owing to the continuous depreciation of the rupee. Gold 24kt gained Rs350/tola and Rs300/10 grammes to hit Rs138,700/tola and Rs118,913/10 grammes, respectively. The yellow metal recorded the previous all-time high of Rs138,400/tola on … Read more
KARACHI: The Ministry of Planning and Development and Special Initiatives (PD&SI) will hold the Turnaround Pakistan Conference on May 28, a statement said. Prime Minister Shahbaz Sharif will address the conference, with the aim to chalk out an urgent plan of action to turnaround the economy in light of vision 2025. PD&SI Minister Professor Ahsan … Read more
KARACHI: The Pakistan equity market witnessed a lackluster session on Friday where investors remained cautious ahead of the government’s dialogue with the International Monetary Fund (IMF) which resumed on May 18. An analyst at JS Global said that the market remained range bound during the day, starting at negative 44 points before closing in at … Read more
ISLAMABAD : The retail prices of urea fertiliser witnessed a massive surge during the last three-and-a-half years, mainly because of the withdrawal of subsidy. As per the government’s data, the 50kg bag of the fertiliser, which was being sold at Rs1,405 in April 2017.18, reached Rs2,047 in April 2021/22. The price of a urea bag … Read more
KARACHI: The Pakistani rupee shed 14 paisas to slide to an all-time low of Rs200.14 on Friday as the outcome of the government’s dialogue with the International Monetary Fund (IMF) remains uncertain. The local unit fell 14 paisas to close at Rs200.14 to the dollar from Thursday’s closing of Rs200 in the interbank foreign exchange … Read more
KARACHI: The benchmark index witnessed a profit-taking session on Thursday, as international markets turned red, owing to the weak global cues. An analyst at Pearl Securities said the rupee has crossed the mark of Rs200 against the dollar, depreciating for the 11th consecutive session, which further dented the investors’ interest. “Despite, 29bps reduction in the … Read more
KARACHI: The Pakistan bourse closed on a positive note on Wednesday on the back of the coalition government’s decision to rule till August 2023, coupled with the resumption of talks with the International Monetary Fund (IMF). An analyst at Pearl Securities said that positive sentiments prevailed in the market as the talks on the resumption … Read more
PESHAWAR: The University of Malakand’s notorious ex-Vice Chancellor, Professor Dr Gul Zaman, was back in contention for the top post despite being allegedly found guilty of 16 serious charges last year that include discrimination, favoritism, irregularities, hurling death threats to staffers etc. In a blatant violation of an inquiry verdict against him last year, that … Read more
KARACHI: The prices of gold increased Rs300 in the local market to an all-time high of Rs138,400/tola on Wednesday as the dollar continued its flight against the rupee. Gold 24kt gained Rs300/tola and Rs258/10 grammes to hit Rs138,400/tola and Rs118,656/10 grammes, respectively. The yellow metal recorded the previous all-time high of Rs138,100/tola on Tuesday, May … Read more
KARACHI: The Pakistani rupee plunged to an all-time low of Rs198.39 on Wednesday, losing Rs2.65 owing to deteriorating indicators at the macroeconomic fronts coupled with the uncertainty regarding the talks with the International Monetary Fund (IMF). The local unit fell Rs2.65 to close at Rs198.39 to the dollar from Tuesday’s closing of Rs195.74 in the … Read more
KARACHI: The Pakistan equity market witnessed a lacklustre and a slight volatile session on Tuesday, as the rupee is being hammered to the lowest levels, while no respite was seen in the international oil prices, which is consistently staying above $100/bbl. An analyst at Pearl Securities said the market was in wait and see mode, … Read more
KARACHI: The prices of gold surged Rs1,500/tola in the local market to an all-time high of Rs138,100/tola on Tuesday on the back of the rupee depreciation. Gold 24kt gained Rs1,285/10 grammes to reach Rs118,398. The precious metal recorded the previous all-time high of Rs136,600/tola on May 16, 2022, as Pakistan’s forex reserves, widening trade deficit … Read more
KARACHI: The rupee plunged to a historic low of Rs195.75 against the dollar on Tuesday, as the government failed to make important decisions to support the ailing economy. The exchange rate witnessed a loss of Rs1.57 to end at Rs195.75 from the previous day’s closing of Rs194.18 in the interbank foreign exchange market. Currency dealers … Read more
KARACHI: The Oil Companies Advisory Council (OCAC), the primary representative of the country’s downstream oil industry, has registered the sales of 363,667 tonnes of high-speed diesel and 363,210 tonnes of motor spirit during the first fortnight of May 2022. Expressing concerns, OCAC Chairman Waqar Irshad Siddiqui said that the downstream oil sector of the country … Read more
KARACHI: The prices of gold elevated in the local market to an all-time high of Rs136,600/tola on Monday on the back of the rupee depreciation. Gold 24kt gained Rs700/tola and Rs600/10 grammes in the local market to hit Rs136,600/tola and Rs117,112/10 grammes, respectively. The precious metal recorded the previous all-time high of Rs136,000/tola on May … Read more
KARACHI: The Pakistan stock market took a dip on Monday as the government decided to continue the subsidy on fuel and electricity prices which increased concerns over the deal with the International Monetary Fund (IMF). An analyst at Pearl Securities said that a big drop was expected as the government decided to continue subsidies on … Read more
KARACHI: The total fuel subsidy to date reached Rs195 billion during March-May 2022, posing negative implications on the Oil Marketing Companies (OMCs) liquidity. The subsidy poses negative implications in particular to Pakistan State Oil (PSO) which has the largest share of around 50 per cent in retail fuel supply in the country. The government has … Read more
KARACHI: The Pakistani rupee fell Rs1.65 to make an all-time low of Rs194.18 on Monday owing to uncertainty over the talks with the International Monetary Fund (IMF) after the government decided to maintain the subsidy on fuel prices. The local unit fell Rs1.65 to close at Rs194.18 to the dollar from Friday’s closing of Rs192.53 … Read more
KARACHI: The price of gold retreated in the Pakistani local market to reach Rs135,900/tola on Saturday amid weakening local currency. Gold 24kt gained Rs600/tola and Rs514/10grammes in the local market to hit Rs135,900/tola and Rs116,512/10grammes, respectively. The precious metal recorded the all-time high of Rs136,000/tola on Thursday in the local market, as Pakistan’s forex reserves, … Read more
KARACHI: The Securities and Exchange Commission of Pakistan (SECP) registered 2,345 new companies in April 2022, raising the total number of registered companies to 168,030, a statement said. This shows an increase of 7 per cent, compared with the corresponding period of last year. The total capitalisation (paid-up-capital) with regard to newly incorporated companies for … Read more
KARACHI: The price of gold recorded a decline of Rs700 to reach Rs135,300/tola on Friday as the international gold prices fell to 1,818/ounce. Gold 24kt declined Rs700/tola and Rs600/10grammes in the local market to hit Rs135,300/tola and Rs115,998/10grammes, respectively. The yellow metal recorded the all-time high of Rs136,000/tola the previous day in the local market, … Read more
NEW YORK: Elon Musk on Friday said that he was putting a temporary halt on his much-anticipated deal to buy Twitter, sending shares in the social media giant plunging. Musk, the world’s richest man and founder of automaker Tesla, had made the eradication of spam accounts and bots one of the centerpieces of his proposed … Read more
KARACHI: The Pakistani rupee declined 76 paisas to make an all-time low of Rs192.53 on Friday amid uncertainty on the domestic political and economic fronts. The local unit fell 76 paisas to close at Rs192.53 to the dollar from Thursday’s closing of Rs191.77 in the interbank foreign exchange market. The rupee recorded the previous historic … Read more
KARACHI: The inflows of workers’ remittances crossed $3 billion in April 2022, which is the highest-ever remittances received in a month, the State Bank of Pakistan (SBP) said on Friday. “With $3.1 billion inflows during April 2022, the workers’ remittances crossed $3 billion for the first time ever.” In terms of growth, during April 2022, … Read more
KARACHI: The gold reached an all-time high of Rs136,000/tola on Thursday as the Pakistani rupee plunged to a new historic low of Rs191.77 to the dollar. Gold 24kt gained Rs300/tola and Rs257/10grammes in the local market to hit Rs136,000/tola and Rs116,598/10grammes, respectively. The yellow metal recorded the previous high of Rs135,700/tola the previous day, as the … Read more
KARACHI: The Pakistan Stock Exchange’s KSE-100 Index remained volatile and under pressure on Thursday due to prevailing uncertain economic issues and continued decline of rupee against dollar which kept the investors at bay. An analyst at Arif Habib Limited said that the benchmark KSE-100 Index opened in the green zone and remained volatile throughout the … Read more
ISLAMABAD: The Islamabad Policy Research Institute (IPRI) organised a seminar “Impact of BRI on conflict affected states: CPEC and Pakistan.” to discuss the BRI and CPEC projects’ impact on the region, a statement said on Thursday. Peace Research Institute Frankfurt (PRIF), Senior Researcher Dr Pascal Abb said that China’s Belt and Road Initiative (BRI) flagship … Read more
