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Prices of steel bars, cement bags shoots up
KARACHI: After hike in petroleum prices, costs of steel bars and cement bags have witnessed an unprecedented surge in market, it emerged. Price of local steel bars has gone up by Rs 45,000 and branded steel bars by Rs 50,000 per tonne. New price of l...
Toyota manufacturer ‘completely’ shuts down its plant till Feb 14
Karachi: Indus Motors Company (IMC), maker of Toyota vehicles has decided to “Completely” shut down its production plant in country from February 1-14, citing “Insufficient inventory levels” as reason. In letter addressed to G...
Rupee takes breather as IMF talks revive market confidence
Karachi: Rupee started showing signs of recovery as it gained nearly Rs 2 against dollar to close at Rs 267.89 after developments surrounding talks with International Monetary Fund (IMF) unfolded. Domestic unit which had closed at an all-time low of...
Pakistan braces for fuel shortages amid liquidity crisis
KARACHI: Pakistan could face crunch in fuel supplies in February as banks have stopped financing and facilitating payments for imports due to depleting foreign exchange reserves, traders and industry sources said. Country is facing balance of payment...
NEPRA approves Rs10.80/unit negative adjustment for KE
Karachi: National Electric Power Regulatory Authority approved reduction of Rs 10.8 per unit for K-Electric consumers on account of fuel charges adjustment (FCA) for December 2022. Hearing of KE’s fuel charges adjustment system by which price o...
PSX turns around to bullish trend, gains 802pts
Karachi: Pakistan Stock Exchange (PSX) KSE-100 index turned around to bullish trend, gaining 801.79 points, positive change of 2.01 percent, closing at 40,673.06 against 39,871.27 points previous day. Total of 153,324,094 shares were traded during da...
17pc bps means upwards of 20pc lending rate: FPCCI
Karachi: Irfan Iqbal Sheikh President FPCCI expressed profound concerns over burning issue of abysmal state of access to capital for businesses from banking channels as after further raise of 100 bps in SBP’s policy rate making it 17 percent, c...
Emirates operates milestone demonstration flights powered with 100pc SAF
KARACHI: Emirates operated its first milestone demonstration flight on Boeing 777-300ER, powering one of its engines with 100 percent Sustainable Aviation Fuel (SAF). Flight took off from Dubai International Airport (DXB) and was commanded by Captain...
Yellow metal prices continue upward trend
KARACHI: Yellow metal prices continued to hit new records as weakened economy coupled with continuous depreciation of rupee added to factor. Considered safe haven for investors in times of economic turmoil, yellow metal is almost going out of reach f...
Rupee closes at fresh low of 269.63 versus dollar
Karachi: Rupee continued to sustain heavy losses against dollar in inter-bank market, closing session with another 2.61 percent fall. As per State Bank of Pakistan unit fell Rs 7.03 against dollar. On Friday, it settled at 262.6 after fall of Rs 7.17...
