Category: Business

The rupee strengthened in the currency market on Friday as the value of the US dollar continued to slide in the interbank as well as the open market. The greenback shed its value by Re0.35 in the interbank and was traded against Rs148.15. Similarly, the dollar shed its value by Re1 in the open market […]

ISLAMABAD: The government is unlikely to achieve the export target set for current fiscal year despite massive devaluation of the local currency, Adviser to Prime Minister on Commerce Abdul Razak Dawood said on Thursday. He said that his earlier projections of $27-28 billion exports were unrealistic despite government’s efforts including the release of massive subsidies […]

ISLAMABAD: Despite a reduction in international crude price, the government is likely to approve a substantial increase in the prices of major petroleum products for the month of June because of currency devaluation. A senior government official told Dawn that the Oil and Gas Regulatory Authority (Ogra) on Thursday moved a summary to the government containing calculations […]

ISLAMABAD: Accepting the demand of stockbrokers, the government on Thursday approved Rs20 billion fund to support struggling stock market through state-run National Investment Trust (NIT). A formal decision to this effect was taken at a meeting of the Economic Coordination Committee (ECC) of the Cabinet presided over by Finance Adviser Dr Abdul Hafeez Shaikh. “In […]

WASHINGTON: President Donald Trump repeated his claim on Thursday that China is suffering most in the trade conflict with the United States, saying the punitive tariffs are having a “devastating effect”. And after talks broke down earlier this month, he said his tough strategy is working. “I think we’re doing very well with China,” Trump […]

Prime Minister Imran Khan urged citizens to declare their benami assets and bank accounts under the government’s Assets Declaration Scheme by June 30 in order to avoid legal action. In a video message released on Thursday, the prime minister said that the scheme was a “chance for [the people] to declare their benamiproperties and bank accounts” so they […]

The Pakistan Stock Exchange (PSX) on Thursday closed flat, with the benchmark KSE-100 Index gaining only 15.36 points — up 0.04 per cent — to close at 35,974.8. The market opened on a positive note to hit a day’s high at 36,536.8 during the first hour of the session. The benchmark index hit a day’s […]

ISLAMABAD: Adding about 300 new federal projects to the portfolio, the National Economic Council (NEC) on Wednesday approved a consolidated national development programme for the next fiscal year envisaging Rs1.837 trillion investments and four per cent economic growth rate. The NEC meeting, which was presided over by Prime Minister Imran Khan and attended by all […]

ISLAMABAD: The exports of Pakistani seafood from Gwadar to Chinese cities through Urumqi, China’s Xinjiang autonomous region has increased manifold owing to robust demand, Chen Baoliang, chairman of the board of Xinjiang Yu-Fei International Fishing Company said on Thursday. Yu-Fei Marine Technology of China (Gwadar) Company is one of the largest fishing companies in the […]