Category: Business

ISLAMABAD: As the government investigates gas price hike controversy, a serious shortage has hit the country with delay in the berthing of Q-flex cargo of Pakistan State Oil (PSO), affecting almost all sectors of economy. “The situation is very serious. Gas supply to power plants, fertiliser plants, general industry and CNG sectors has already been […]

KARACHI: After posting losses for four sessions in a row, the KSE-100 index managed to recover some of the lost ground on Tuesday as it gained 269.75 points (0.67 per cent) to close at 40,596.28. The index opened flat but turned volatile in much of day’s trading, taking traders on a roller-coaster ride. Intraday, the […]

WASHINGTON: US President Donald Trump said on Tuesday that he could see letting the March 1 deadline for reaching a trade agreement with China slide a little, but that he would prefer not to and expects to meet with Chinese President Xi Jinping to close the deal at some point. Top US officials arrived in the Chinese […]

ISLAMABAD: Pakistan Telecommunication Company Ltd (PTCL) on Tuesday announced its financial results for the year ended Dec 31, 2018, saying that consolidated net profit improved by 32 per cent while that of its flagship PTCL fell 11pc. The overall group profit after tax clocked in at Rs5.7 billion for CY18, higher by 32pc, over Rs4.32bn […]

ISLAMABAD: Services trade deficit shrank by 29.11 per cent during the first half of current fiscal year compared to the corresponding period last year, according to data released by the Pakistan Bureau of Statistics (PBS) on Tuesday. The deficit in the first six months of the current fiscal year was recorded at $1.945 billion against […]

ISLAMABAD: Arif Usmani has been appointed as the president National Bank of Pakistan after the Ministry of Finance issued a notification in this regard on Tuesday. The federal cabinet appro­ved Usmani’s name for the position in November last year but the notification from the finance ministry was held up after he sought the delay in […]

Special Assistant for Overseas Pakistanis and Human Resource Development Zulfi Bukhari met ride-hailing platform Careem’s top leadership and captains in Dubai on Tuesday to discuss various initiatives the government has in the pipeline to help overseas Pakistanis employed by the company. Careem Chief Executive Officer Mudassir Sheikha, in a statement shared by Techjuice, said that Bukhari’s […]

PARIS: Global oil cartel Opec said Tuesday it sharply reduced crude oil production last month, after heavyweight Saudia Arabia slashed output and exports fell in crisis-hit Venezuela. In its monthly report, Opec said it produced 797,000 fewer barrels per day in January than in the previous month, a decrease in line with the cartel’s pledge […]

LAHORE: The summer season this year is going to be more comfortable for power consumers since most constraints in the electricity transmission system have been removed while the remaining issues would be resolved by May this year, an official of the National Transmission and Despatch Company (NTDC) said on Tuesday. Talking to Dawn, the official […]

Moody’s Investors Service has changed its outlook for the banking system in Pakistan from stable to negative, the company announced in a press release on Monday. “Over the next 12-18 months, banks in Pakistan will see their credit profiles challenged by their high exposure to the country’s low-rated sovereign debt and a slowing economy,” says […]