Category: Business

KARACHI: The Sindh government has decided to impose ban on interprovincial movement of wheat in anticipation of the grain’s shortage and resultant price hike of flour in the province. Sindh Minister for Food Hari Ram Kishori Lal said on Monday that the decision was taken over apprehensions expressed by Pakistan Flour Mills Association South Zone […]

ISLAMABAD: The government is considering introducing special low-grade petrol for motorbikes in the country, apparently as a solution to allow obsolete refineries to continue operations and provide a cheaper option to the owners of two-wheelers as oil prices increase. Informed sources told Dawn that Prime Minister Imran Khan had directed his special assistant on petroleum Nadeem Babar […]

GENEVA: The World Trade Organisation’s quarterly outlook indicator showed on Monday that global goods trade growth was likely to remain weak, with a reading of 96.3, unchanged from February, the lowest since 2010. “The outlook for trade could worsen further if heightened trade tensions are not resolved or if macroeconomic policy fails to adjust to […]

ISLAMABAD: While the overall imports declined slightly during the first 10 months of the current fiscal year, the country’s oil import bill went up by four per cent year-on-year to $11.899 billion, Pakistan Bureau of Statistics reported on Monday. The import bill of three sectors—agriculture, textile and oil posted positive growth, while imports from almost […]

KARACHI: A meeting of the Board of Directors of the Pakistan Stock Exchange (PSX) was held on Monday with a single item on the agenda. PSX CEO Richard Morin gave a hearing on the show-cause notice served to him for alleged breach of employment contract by simultaneously operating his own wealth management company while being […]

ISLAMABAD: Bulgarian Minister for Economy Liliya Ivanove on Monday expressed her country’s keen desire to import rice and cotton from Pakistan. During the second meeting of Pakistan-Bulgaria Inter-Ministerial Commission, Ivanove stated that Bulgaria is looking forward to extensive cooperation in the field of agriculture including sustainable imports of cotton and rice from Pakistan. Bulgarian ambassador […]

The State Bank of Pakistan (SBP) on Monday announced its monetary policy, increasing its benchmark interest rate by 150 basis points (bps) to 12.25 per cent, effective from May 21. “The monetary policy committee [of the SBP] noted that further policy measures are required to address underlying inflationary pressures from higher recent month-on-month headline and […]

Wall Street stocks dropped early on Monday amid worries over United States-China trade talks and as US government restrictions on Chinese company Huawei hit American technology companies. About 15 minutes into trading, the Dow Jones Industrial Average stood at 25,661.41, down 0.4 per cent. The broad-based S&P 500 had shed 0.6pc to 2,842.14, while the […]

The benchmark index shut down at a loss of 155.77 points on Monday after an initial nosedive of 800 points by 11am ─ hours ahead of the State Bank of Pakistan’s monetary policy announcement. The rupee-dollar exchange rate in the interbank market rose by a single rupee to Rs149.25. The index has been suffering heavy […]

ISLAMABAD: Prime Minister Imran Khan expressed confidence on Sunday that problems confronting the economy would be overcome soon through concerted efforts by the government and the business community. Mr Khan was speaking to a delegation of leading businessmen who called on him to offer suggestions to pull the country out of the economic crisis. The […]