After gaining by 80 paisa in the Interbank on Monday, the US Dollar closed at an all-time high versus the Pakistani Rupee (PKR). Weakening macroeconomic have kept dollar demand high, with the greenback ending the first working day of the week at Rs200.94. Depleting foreign exchange reserves and uncertainties overRead More →
Despite a tepid beginning from Wall Street, Asian equities climbed Tuesday as dismal Chinese economy data revealed the deep cutbacks of Beijing’s zero-Covid policy, adding to inflation concerns. To combat an Omicron-fueled tsunami, China has maintained its stringent zero-Covid policy, ordering lockdowns in numerous cities and closing factories and ports.Read More →
ISLAMABAD: The federal government has issued a notification about petroleum product pricing after the finance minister declared that the rates will be maintained. According to the finance ministry’s statement, the petrol price would remain at Rs149.86 per litre, Rs144.15 for high-speed diesel (HSD), Rs125.56 for kerosene oil, and Rs118.31 forRead More →
ISLAMABAD (A News) – According to Pakistan Tehreek-e-Insaf (PTI) leader Asad Umar, the State Bank of Pakistan’s foreign exchange reserves have dropped by more than $6 billion since the no-confidence vote. Asad Umar, speaking at a news conference with PTI leaders in Islamabad, said that diminishing reserves are putting pressureRead More →
On Friday, the price of 24 carat per tola gold dropped by Rs 700, to Rs 135,300, from Rs 136,000 on the local market. According to the All Sindh Sarafa Jewellers Association, the price of 10 gramme 24 carat gold has dropped by Rs 600 to Rs 115,998, down fromRead More →
On Tuesday, the National Electric Power Regulatory Authority (NEPRA) increased the cost of power by 57 paisas. The price of electricity has been increased to 57 paisa per unit as a consequence of a quarterly adjustment, according to the facts. The add-on will not be available to K-electric or lifelineRead More →
SLAMABAD/RIYADH: Pakistan and Saudi Arabia will examine the prospect of extending the duration of the kingdom’s $3 billion deposit with the State Bank of Pakistan “or through other possibilities,” according to a joint statement carried by Saudi state news agency SPA on Sunday. Saudi Arabia deposited $3 billion in Pakistan’sRead More →
Power outages have severely impacted Pakistan during the holy month of Ramadan, with Pakistanis experiencing up to 10 hours of power load-shedding. All urban areas, including Karachi, Hyderabad, Rawalpindi, Lahore, Faisalabad, and Sialkot, have been severely impacted by up to 8 hours of load-shedding, while rural areas have been impactedRead More →
(Reuters) – According to The New York Times, Twitter’s board of directors and Tesla CEO Elon Musk discussed into the early hours of Monday about Musk’s attempt to purchase the social media site. Musk said last week that he had secured $46.5 billion in funding to acquire Twitter, putting pressureRead More →
The decision by the world’s largest palm oil producer to stop exports beginning on Thursday will raise prices for all major edible oils, including palm oil, soy oil, sunflower oil, and rapeseed oil. Mumbai: After Indonesia’s unexpected restriction on palm oil exports drove buyers to seek alternatives, which were alreadyRead More →
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