February 22, 2025
Business

In July, India reduces its Russian oil purchases while increasing Saudi imports

According to data obtained from trade and industry sources, India’s imports of crude oil from Russia declined in July for the first time since March along with its overall purchase, although Saudi Arabia’s supplies rose the first time in five month. Indian refiners have expanded their long-term supply purchases from Saudi Arabia due to reasonable […]

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Business

According to Miftah Ismail, Iran can meet Pakistan’s oil and gas needs

ISLAMABAD: Miftah Ismail, the federal minister of finance and revenue, praised Pak-Iran collaboration on Wednesday in the areas of commerce and energy. He also stated that the government was determined to fortify ties with the Islamic Republic in all respects. According to Miftah Ismail, the government of Pakistan, led by Prime Minister Shehbaz Sharif, is […]

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Business

Pakistani rupee exchange rate as of August 17, 2022

The US dollar gained ground against the Pakistani rupee on Wednesday, reversing a nearly week-long downward trend for the greenback after Nawaz Sharif and other top unity government officials criticised Finance Minister Miftah Ismail for increasing the cost of gasoline in the nation. While banks are selling it for Rs 214.50, the dollar climbed by […]

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Business

After a decrease in US stocks, oil prices have begun to recover from 6-month lows

Oil prices increased on Wednesday, recovering from six-month lows reached the previous day, as investors were reminded by an unexpectedly huge decline in US oil and gasoline supplies that demand is still strong, despite being overshadowed by the possibility of a worldwide recession. By 04:15 GMT, Brent crude futures were up 56 cents, or 0.6%, […]

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Business

Bulls push the KSE-100 index above 43,000 on optimistic cues

KARACHI: Stocks rose on Monday as a result of Saudi Arabia’s plans to renew its $3 billion deposit with Pakistan and renewed optimism for the International Monetary Fund (IMF) programme. The benchmark index KSE-100 of the Pakistan Stock Exchange (PSX) opened today’s session at 42,857.57 points, but it rose by 695.97 points, or 1.62%, to […]

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Business

In the tenth consecutive session, the rupee gains ground against the dollar

KARACHI: The Pakistani rupee strengthened against the US dollar for the tenth consecutive working day on Monday in the interbank market. The rupee gained another Rs2.49 after more than a week of gains, with the dollar trading at Rs213 after a depreciation during intraday activity in the interbank market at 10:50am. In the interbank market […]

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Business

Housing plan is not indefinitely on hold

KARACHI:The government has chosen to modify the MPMG scheme’s components in light of the altered macroeconomic environment, therefore it has not been totally abandoned.In the seventh instalment of the SBP Podcast series, Executive Director Development Finance Group (DFG) of the State Bank of Pakistan (SBP), Samar Hasnain, made the statement. Hasnain emphasised that a committee […]

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Business

Auto sales are lowered by supply restraints

KARACHI:Pakistan’s vehicle sales fell 59% to 14,000 units in July 2022 compared to June 2022 as a result of the import ban on auto parts implemented in an effort to reduce the current account deficit (CAD). Sales by non-Pama (Pakistan Automotive Manufacturers Association) members are included in this decline.Production problems and rising car prices, which […]

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Business

Rupee advances against the dollar for the seventh session in a row

KARACHI: Wednesday’s intraday activity in the interbank market saw the Pakistani rupee strengthening versus the US dollar for the seventh session in a row. Due to Ashura, the market was closed on Monday and Tuesday. However, when it reopened today (Wednesday), the rupee had increased by 2.51 versus the dollar and was trading at 221.49 […]

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Business

Against the dollar, the Pakistani Rupee is still rising

KARACHI: During intraday trade on Friday in the interbank market, the Pakistani rupee strengthened against the US dollar for the sixth session in a row. In the course of the day’s trading, the rupee gained 2.15 percent versus the dollar and closed at 224, down from Thursday’s finish of 226.15. The currency appreciated significantly Tuesday, […]

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