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KARACHI: While stating that Pakistan was moving in the right way on Friday, Finance Minister Miftah Ismail could not completely rule out the potential that the nation may experience difficult times in the future. The finance minister spoke at a gathering at the city’s Pakistan Stock Exchange (PSX) and said: “Although we are moving in […]
BRITAIN/NEW YORK: The price of crude oil fell on Thursday to its lowest level before Russia invaded Ukraine in February as traders worried that there would be an economic crisis later this year that would undermine demand for energy. Benchmark After reaching a mid-session low of $93.20, the lowest since February 21, Brent oil futures […]
On Thursday, oil prices increased as supply concerns led to a recovery from multi-month lows reached the previous day as a result of sluggish gasoline demand indicated by US statistics. West Texas Intermediate (WTI) crude futures were recently up 21 cents, a 0.2 percent gain, at $90.87, while Brent crude futures increased 10 cents, or […]
KARACHI: A two-day bank holiday in honour of Ashura was announced by the State Bank of Pakistan (SBP) on Thursday (Muharram 9-10). The State Bank of Pakistan announced that it would be closed on August 8 and 9, which were the 9th and 10th Muharram-ul-Haram, 1444 AH, in observance of Ashura. In a notification sent […]
KARACHI: For the sixth session in a row, the Pakistani rupee appreciated versus the US dollar on Thursday during intraday day activity in the interbank market. In relation to the dollar, the rupee increased by 5.79 and closed at Rs. 223, down from Rs. 228.80 on Wednesday. The dollar dropped by 9.8 or 4.19 percent […]
KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) increased by about 900 points during Wednesday’s intraday trade as Islamabad fulfilled the final need to restart the International Monetary Fund’s (IMF) loan programme. By 1:10 p.m., the benchmark KSE-100 index had risen by 895.43 points to reach 41,087.04 points. It had started the […]
KARACHI: As Pakistan’s import pressure decreased in July, the US dollar lost ground versus the rupee for the fourth session in a row during intraday activity on the interbank market. The dollar dropped Rs0.38 during Wednesday’s intraday session, trading at Rs238 to the rupee, down from 238.38 at Tuesday’s interbank close. The rupee, one of […]
NEW YORK/LONDON: Bitcoin has had a good month, which is something we haven’t stated in a while. It had been in freefall for months before rising more than 17% in July, its greatest showing since October. Since January 2021, ether has increased by 57%, which is a monthly high. The increase coincided with advances in […]
The International Monetary Fund (IMF) said on Tuesday that Pakistan has fulfilled the final prerequisite for the combined seventh and eighth reviews. The IMF further stated that a board meeting is tentatively set for late August once enough financial assurances are secured. The most recent move was confirmed in a statement by Esther Perez Ruiz, […]
KARACHI: According to figures issued on Monday by the Oil Businesses Advisory Council (OCAC), the country saw a fall in the sales of the oil marketing companies during July, in keeping with the coalition government’s aim to lower oil import bills. The lowest sales since February 2021, total petroleum and lubricant sales in July 2022 […]
