KARACHI: In response to its latest liquefied natural gas (LNG) tender, the Pak LNG Limited (PLL) received two bids of $29.67/mmbtu and $29.79/mmbtu, both for the delivery window of May 1 to 2, 2022, a statement said on Thursday. PLL had issued an emergency tender for one cargo to be delivered in May. TotalEnergies offered … Read more
KARACHI: Pakistan’s premier conglomerate, Engro Corporation’s profitability exhibited a substantial growth of 92 per cent to reach Rs6.88 billion in the first quarter of 2022 against Rs3.59 billion in the same period of 2021, a statement said on Thursday. The company’s dividend income grew 124 per cent during the period under review to reach Rs7.70 … Read more
KARACHI: The Pakistan equity market remained volatile on Thursday due to further rupee depreciation and investors’ concerns over a hike in the Market Treasury Bill yields. An analyst at Arif Habib Limited said that despite opening in the green zone, the KSE-100 Index failed to sustain the positive momentum as profit taking was observed during … Read more
KARACHI: The Pakistan International Airlines (PIA) maiden flight from Lahore to Sydney has been deferred for a few days on the advice of the Australian Homeland Affairs Department, a statement said. The flight was deferred as the Australian authorities want to reassess the prevailing security situation of the country and review the security apparatus and … Read more
KARACHI: The Pakistani rupee continued its downward trend to register the fourth straight loss against the dollar, amid reducing forex reserves, and the lack of clarity regarding the talks with the International Monetary Fund (IMF), dealers said. The local unit fell Rs1.05 to close at Rs186.97 to the dollar from the previous day’s closing of … Read more
ISLAMABAD: The local fertiliser industry is providing urea at around 84 per cent discount, equivalent to Rs9,823/bag and is expected to enable import substitution of $5.3 billion in 2022. Discussing the latest business results and future outlook in the first quarter, Imran Ahmed, chief financial officer of Engro Fertilisers, said that the fertiliser sector is … Read more
KARACHI: The KSE-100 Index started the day on a positive note on Wednesday, but in the later hours, selling was observed in the banking sector post-results announcement by the heavyweight Habib Bank Limited (HBL), analysts said. An analyst at Pearl Securities said the pressure was seen in the cement sector, owing to the expected rise … Read more
KARACHI: The dollar for the third day in a row rose to Rs185.92 against the rupee on Wednesday, dealers said. The exchange rate witnessed a decline of Rs1.48 to end at Rs185.92 against the greenback from the previous day’s closing of Rs184.44 in the interbank foreign exchange market. The local unit lost Rs4.37 during the … Read more
KARACHI: The All Pakistan Textile Mills Association (Aptma) has urged the government to announce Rs8,000 per maund as cotton support price for the upcoming season, a statement said. At present, wheat is being harvested in Punjab and the cotton sowing will commence within next few days and this window for capturing the maximum area for … Read more
KARACHI: The Pakistani rupee deteriorated against the dollar on Tuesday as the country is facing depleting forex reserves, widening current account deficit and an increasing demand for the dollar by the importers, dealers said. The rupee shed Rs1.90 to close at Rs184.44 to the dollar from the previous day’s closing of Rs182.54 in the interbank … Read more
KARACHI: The Pakistan bourse witnessed a volatile situation on Tuesday where profit-taking was observed throughout the day as the investors took a cue from rising economic uncertainty. Both current account deficit and trade deficit widened, which kept the investors under pressure, an analyst at Pearl Securities said. “The State Bank of Pakistan’s (SBP) reserves are … Read more
KARACHI: Pakistan’s banks operating in Sri Lanka are in hot waters as their exposures of around Rs26.78 billion are at stake due to the worsening economy of the country. Analysts at Arif Habib Limited said that some of the Pakistani banks are exposed to the Sri-Lankan economy either through branch banking or investments in the … Read more
KARACHI: The Pakistan Stocks market witnessed a volatile session on Monday as the participants resorted to profit-taking with relatively lower volumes. An analyst at Pearl Securities said that the correction in the market was due after a gain of more than 2,000 points and a return of 3.8 per cent last week. Moreover, the international … Read more
KARACHI: The Pakistani rupee dropped 99 paisas against the dollar on Monday as the forex reserves of the country hit a 22-months low amid foreign debt repayments, dealers said. The rupee shed 99 paisas to close at Rs182.54 to the dollar from Saturday’s closing of Rs181.55 in the interbank foreign exchange market. The local currency … Read more
KARACHI: The Pakistani rupee upward movement continued for the sixth straight session against the dollar on Friday due to the aggressive measures taken by the State Bank of Pakistan (SBP) to lend support to the local unit, dealers said. The rupee gained 11 paisas to close at Rs181.58 to the dollar from last day’s closing … Read more
KARACHI: The Pakistan bourse closed in a green zone on Friday amid upbeat sentiments of investors on the back of political stability in the country and the recovering economic indicators. The rupee gained stability against the dollar, coupled with the likely resumption of the International Monetary Fund (IMF) programme after economic measures were taken which … Read more
KARACHI: Pakistan’s foreign exchange reserves hit a 22-month low after falling for nine consecutive weeks to $17.03 billion. According to the data released by the State Bank of Pakistan (SBP) on Thursday, the foreign exchange reserves of the country fell $449 million to $17.028 billion by the week ended April 8, 2022, compared with $17.477 … Read more
KARACHI: The State Bank of Pakistan (SBP) on Thursday said that the banks have approved Rs180 billion as loan for the low-cost housing. Building upon the current momentum, the banks have shown strong progress in approving and disbursing the financing under Mera Pakistan Mera Ghar Scheme against the manifold increase in applications by the borrowers … Read more
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Standing Committee on Rice Exports Convener Rafique Suleman congratulated Mian Shahbaz Sharif on becoming Prime Minister of Pakistan, a statement said. In the current situation, the focus should be on improving the economic situation, improving the GDP growth rate, and further developing the agricultural … Read more
KARACHI: The Pakistan Stocks closed higher as investors’ confidence was boosted due to rupee depreciation against the dollar, easing domestic political uncertainty and robust data for car sales in March 2022. Ahsan Mehanti at Arif Habib Corp said that the higher global crude oil prices and speculations over the likely release of next International Monetary … Read more
KARACHI: The Overseas Investors Chamber of Commerce and Industry (OICCI) has urged the Sindh government to harmonise taxes levied in the province with the other provinces to ensure competitiveness to investors, a statement said. The OICCI, the representative body of foreign investors operating in Pakistan, has sent its recommendations for budget 2022/23, where it said … Read more
KARACHI: The rupee maintained its upward trend for the fifth consecutive session against the dollar on Thursday, as the State Bank of Pakistan (SBP) took measures to strengthen the local currency by curbing imports, dealers said. The local unit gained 13 paisas to close at Rs181.69 against the greenback from the last day’s closing of … Read more
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has demanded the authorities to bring chemical merchants into normal tax regime (NTR) from existing minimum tax regime (MTR), a statement said. FPCCI President Irfan Iqbal Sheikh, while speaking with large-scale merchants from the platform of Pakistan Chemical and Dyes Merchants Association (PCDMA), expressed … Read more
KARACHI: The Pakistan equity market observed a volatile session on Wednesday, as investors opted for profit-taking in the last trading hour, which led the index to close in the red zone. An analyst at Arif Habib Limited said that the market opened on a bleak note but value buying was witnessed in the first trading … Read more
KARACHI: The State Bank of Pakistan (SBP) will observe six days working week during the holy month of Ramazan, to be followed by all banks, development finance institutions and microfinance banks, a statement said on Wednesday. The office hours of the banks will be from Monday to Thursday and Saturday from 8:00am to 3:00pm with … Read more
KARACHI: The rupee gained 20 paisas against the dollar on Wednesday after an ease down in the political uncertainty coupled with the central bank’s measures to provide support to the local currency, dealers said. The exchange rate closed at Rs181.82 against the greenback from the last day’s closing of Rs182.02 in the interbank foreign exchange … Read more
KARACHI: The Pakistan stocks recovered considerably on Tuesday after witnessing profit-taking in the early hours of trading, which kept the market in the red zone. An analyst at Pearl Securities said that the rupee gained stability, as it clocked-in at 182.02 against the dollar coupled with the declining oil prices, which have been falling in … Read more
KARACHI: First Deputy Defence Minister and Chief of General Staff of Armed Forces of Kazakhstan, Lieutenant General Khussainov Marat Rakhimovich commended the professionalism of Pakistan Air Force, a statement said. Rakhimovich on Tuesday called on Pakistan Air Force (PAF) Chief of the Air Staff, Air Chief Marshal Zaheer Ahmed Baber Sidhu, where both the dignitaries … Read more
