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SBP-held forex reserves fall $170m, stand at $4.04bn
Karachi: Foreign exchange reserves held by State Bank of Pakistan (SBP) decreased $ 170 million, clocking in at $ 4.04 billion as of April 7, data released showed. Overall number stands at critical level at around month of import cover. Total liquid...
Business community advised to explore avenues of trade cooperation with Tajikistan
KARACHI: Pakistan Ambassador designated to Tajikistan Muhammad Saeed Sarwar said that Tajikistan holds huge potential for fast moving consumer goods (FMCGs), pharmaceutical products and many other products. “Business community will have to focu...
HCAR, PSMC extend plant shutdowns amid import restrictions
KARACHI: Honda Atlas Cars (Pakistan) Limited (HCAR) said it is extending plant shutdown plant until April 30 amid restrictions on imports. Automaker has been observing shut down since early March this year. Company announced its decision in notice to...
Rupee gains strength versus dollar
Karachi: Rupee maintained its upward trajectory against dollar, appreciating 0.6 percent in inter-bank market. According to State Bank of Pakistan (SBP), domestic unit settled at 284.91, an increase of Rs 1.71. In key development, an official of Inte...
KSE-100 index closes to 79pts
Karachi: Pakistan Stock Exchange (PSX) KSE-100 index saw mixed session and KSE-100 Index rose in first half before profit-taking eroded most of intra-day gains. By end of session, KSE-100 Index rose 79.49 points or 0.2 percent to close at 40,205.54....
Auto sales record 98pc growth in March 2023
KARACHI: Despite high car prices, Pakistan’s auto sector recorded growth of 98 percent to about 7,201 units (passenger cars) in March compared with 3,642 units sold in previous month, providing ray of hope in beleaguered auto sector that has pi...
Rupee recovers value against dollar, settles at 286.62
Karachi: A day after plunging to all-time lows, rupee recovered some ground against dollar, appreciating 0.63 percent in inter-bank market. According to State Bank of Pakistan (SBP), domestic unit settled at 286.62, an increase of Rs 1.81. This comes...
KSE-100 gains 321pts amid financing from ‘friendly country’
Karachi: Pakistan Stock Exchange (PSX) KSE-100 index witnessed bullish session and benchmark KSE-100 index crossed 40,000 level once again after reports that UAE will confirm funding of $ 1 billion for Pakistan. Stock market rose as funding is vital...
PMIC, Qarar partner to develop credit scoring model
Karachi: To ensure financial inclusion and strengthen microfinance sector, Pakistan Microfinance Investment Company (PMIC) and Qarar Consultancy (Qarar) will roll out credit scoring model for microfinance sector under PMIC’s Challenge Fund-Roun...
Gold price jumps to Rs218,300 per tola
Karachi: Gold price jumped to an all-time high and surpassed Rs 218,000 mark as domestic unit slumped to historic low against dollar with country failing to bring confidence back to market. According to data released by All-Pakistan Sarafa Gems and J...
