The rupee weakened on Monday, closing at 278.7 per dollar in the interbank market, down from 278.56 in the previous session. The dip is attributed to higher dollar demand from importers and a slowdown in dollar conversion by exporters, according to market dealers. In the open market, the rupee also saw a decline, trading at … Read more
The State Bank of Pakistan (SBP) announced on Thursday the potential new designs for currency notes across all denominations, as part of a public art competition, according to ARY News. The SBP held an art competition inviting local artists to submit their designs for the new banknotes. After a careful review, the central bank revealed … Read more
Pakistan State Oil (PSO) is facing mounting financial challenges as its outstanding dues have soared to a staggering Rs 786 billion, according to industry sources. A significant portion of this debt is tied to the import bill for Re-gasified Liquefied Natural Gas (RLNG), which now exceeds Rs 506 billion. Sui Northern Gas Pipelines Limited (SNGPL) … Read more
Asian equities were mixed on Friday as investors kept their nerves strained before the significant US labor market numbers that may influence the Fed’s measures towards easing the interest rates. While the dollar considered its losses, in the same week, Oil prices were faced with their worst performance in a year. MSCI’s measure of Asia-Pacific … Read more
The Pakistani Federal Minister for Privatization, Board of Investment, and Communications, Abdul Aleem Khan, met with Azerbaijan’s Ambassador to Pakistan, Khazar Farhadov to deliberate on issues related to mutual concern and general improvement of bilateral relations. While talking to each other, both dignitaries discussed the forthcoming business forum that was planned for September 16 in … Read more
Indus Motor Company Limited (INDU) has also revealed a new investment of Rs 1. To add more localized content in its production chain, it needs about $3. 94 million or 1 billion. This has emerged in a notice to the Pakistan Stock Exchange (PSX) on Monday informs media. This investment extends from an earlier capital … Read more
The federal government after getting the nod from Prime Minister Shehbaz Sharif cut down the price of petrol by Rs1. Overall Co2 emission was reduced to 86 per litre in this fiscal making three consecutive cuts. New tariffs will be effective from September 1, it has been stated in the company’s press release. Because of … Read more
Rates for gold increased in Pakistan on Saturday even though there was a deterioration in rates on an international level. For the domestic market, gold price per tola increased by Rs 1000 and reached Rs 262500. At the same time, the rate for 10 grams of gold went up by Rs857 and stood at a … Read more
On Tuesday, the government of Pakistan invite Oman to invest in its agriculture, minerals, and information technology through the Special Investment Facilitation Council. This invitation was extended during the eighth session of the Pakistan Oman Bil Business Political Consultations which was held in Muscat Oman 23–24 September and the outcome of the trade between the … Read more
The yen /USD hit the highest level in the three on Monday, fueled by the shift in the tone of Fed Chair Jerome Powell and Bank of Japan Governor Kazuo Ueda, the latter remained hawkish. Other major currencies were also affected by this divergence of central bank policies; the dollar remained near a 13-month low … Read more