Category: Business

ISLAMABAD: The Power Division on Tuesday said K-Electric had over Rs125 billion liabilities payable to two government entities, which was the main hurdle to the sale of its shareholding. Testifying before Standing Committee of the Senate on Power presided over by Senator Fida Muhammad, Secretary Power Irfan Ali said unless the issue of KE’s outstanding […]

LONDON: Prime Minister Theresa May said on Tuesday that she will seek to further delay Britain’s exit from the European Union and seek to make an accord with the political opposition in a bid to break the Brexit impasse. May made the announcement after the EU’s chief negotiator warned that a chaotic and costly Brexit […]

KARACHI: Domestic gold rate on Tuesday hit an all-time high peak of Rs71,200 per tola and Rs61,043 per 10-gram, up by Rs500 and Rs429, respectively, from Monday. In the afternoon, All Sindh Sarafa Jewellers Association (ASSJA) had first issued the rate of Rs70,700 per tola and Rs60,614 per 10-gram, a jump of Rs150 and Rs129 […]

ISLAMABAD: As the State Bank of Pakistan (SBP) promised issuing digital currency by 2025, Finance Minister Asad Umar on Monday asked the central bank and the Federal Investigation Agency (FIA) to ensure top-class cybersecurity in the banking system to extend emerging benefits of digitalisation to the people. “As we move towards digital economy, it is […]

Worldwide music sales rose by nearly 10 per cent in 2018, a fourth consecutive year of growth fuelled by online streaming, according to figures released on Tuesday by an industry body. Revenues reached $19.1 billion last year, the International Federation of the Phonographic Industry, which represents the recorded music industry worldwide, said in its Global […]

ISLAMABAD: Consumer prices influenced by faster rupee depreciation and rise in energy prices last month increased to their highest level in five years, the Pakistan Bureau of Statistics reported on Monday. Inflation measured through consumer price index (CPI) surged to 9.4pc in March 2019, the period when global oil prices started rising, undermining earlier gains. […]

DUBAI: Saudi Aramco’s net profits reached $111 billion last year, according to an assessment published on Monday by Moody’s Investors Services that offered a rare glimpse into the state-owned oil firm’s finances before it issues its first bonds in international markets. That places Aramco ahead of some of the world’s most profitable firms. By contrast, […]

LONDON: Britain’s Parliament sought a way out of the country’s Brexit morass on Monday, holding a series of votes that could soften or reverse the UK’s departure from the European Union if a majority of lawmakers can agree. With just 12 days until the UK must come up with a new plan or crash out […]

Days after the federal government’s reported intention to amend the name of the Benazir Income Support Programme (BISP) drew ire of the PPP, Information Minister Fawad Chaudhry on Tuesday announced that the name of the cash transfer poverty programme would not be changed. Addressing a news conference in Islamabad, the minister revealed that the recent […]

KARACHI: The State Bank of Pakistan (SBP) summoned currency dealers after the dollar touched an intraday high of Rs144, eventually closing at Rs 142.7 in the open market. Noting the speedy rise in the price of dollar, the SBP on Monday invited exchange companies to cool down the rapid increase. “The State Bank told us […]