Category: Business

KARACHI: Domestic gold price on Friday touched an all-time high of Rs86,250 per tola and Rs73,945 per 10 grams, up by Rs1,750 and Rs1,500 over Tuesday. All Sindh Saraf Jewellers Association (ASSJA) quoted the world gold price of $1,495 per ounce, showing a jump of $32 per ounce over Tuesday. ASSJA President Haji Haroon Rashid […]

ISLAMABAD: The United States has asked Pakistan to show tangible and satisfactory actions against banned organisations and their leaderships to pacify more countries towards supporting its case to move out of the grey list of Financial Action Task Force (FATF). A senior government official told Dawn that a US delegation was in Islamabad to have an independent […]

ISLAMABAD: The Cen­tral Development Working Party (CDWP) on Tuesday cleared a total of 15 development projects worth Rs32.5 billion. The meeting of the CDWP was presided over by newly appointed Deputy Chair­man Planning Commission Muhammad Jahanzeb Khan and approved a total of 12 smaller development projects with a total cost of Rs14.5bn and recommended three […]

NEW DELHI: China has told India not to block its Huawei Technologies from doing business in the country, warning there could be consequences for Indian firms operating in China, sources with knowledge of the matter said. India is due to hold trials for installing a next-generation 5G cellular network in the next few months, but […]

LONDON: Bitcoin’s recent gains as stocks plummeted on US-China trade tensions reflect not so much its safe-haven credentials but its potential for quick gains, cryptocurrency and foreign exchange traders said on Tuesday. The biggest coin jumped over seven per cent on Monday as US stocks slumped 3pc. Safe haven assets from the Japanese yen to […]

BEIJING: China stabilised its currency on Tuesday, suggesting it might hold off from aggressively letting the yuan weaken as a way to respond to US tariffs on Chinese goods. The yuan declined to 7.0562 to the dollar before strengthening back to 7.0297 in the afternoon. That came a day after Beijing sent financial markets tumbling […]

WASHINGTON: White House trade adviser Peter Navarro said Tuesday the Federal Reserve should cut interest rates aggressively to be more in line with other economies. Navarro accused the Fed of raising rates too fast last year and despite a rate cut last week of 25 basis points called for more. “The Federal Reserve before the […]

United States senior diplomat Alice G Wells on Tuesday said that “the US will continue to remain engaged with Pakistan in its economic reforms efforts”, a statement released by the Ministry of Finance said. The US State Department Official for South and Central Asian Affairs also communicated the US’ interest to “help build an environment […]

ISLAMABAD: The International Monetary Fund (IMF) said on Monday that it had full access to borrowing and maturity terms of the China-Pakistan Economic Corridor (CPEC) projects and its loans were manageable. Addressing Senior Journalists’ Forum at the National Press Club, IMF resident representative in Islamabad Teresa Daban Sanchez counted issues relating to the Financial Action […]

ISLAMABAD: The Oil & Gas Regulatory Authority (Ogra) on Monday imposed a ban on the use of comp­re­ssed natural gas (CNG) and liquefied petroleum gas (LPG) by all public service vehicles (PSVs), including school vans, to ensure “safety of public life and property”. Subsequent to the ban, the motorway police laun­ch­ed a crackdown on such […]