Category: Business

DESPITE all the efforts, the overall crude prognosis continues to stay gloomy. The industry is taking big hits, with no respite in sight. Forty publicly traded US oil producers wrote down a collective $48 billion worth of the value of their assets in first quarter of 2020, the US Energy Information Administration (EIA) reported last […]

LONDON: Top UK broadband and mobile operator BT said on Friday its coverage would remain unaffected by the government’s decision to phase out China’s Huawei from Britain’s 5G network. Prime Minister Boris Johnson this month reversed his decision in January to allow China’s controversial technology leader to roll out Britain’s fast new data network. He […]

FRANKFURT: Germ­a­ny’s economy, Europe’s largest, took a massive hit during the pandemic shutdowns, shrinking by 10.1 per cent during the April-June period from the previous quarter as exports and business investment collapsed. It was the biggest drop since quarterly growth figures began being compiled in 1970, the official statistics agency said Thursday. The plunge far […]

ISLAMABAD: Revenue collection in July grew by over 15 per cent from last year to Rs 300 billion, up Rs57bn or 23.4pc from the target set for the month, data released by Federal Board of Revenue (FBR) spokesperson showed on Thursday. The data for revenue collection in the first month of current fiscal year showed […]

ISLAMABAD: The federal government on Thursday asked provinces to limit their expenditures during the current fiscal year on the basis of expected revenue collection of about Rs4.6 trillion by the Federal Board of Revenue (FBR) instead of Rs4.96tr budget target. A senior finance ministry official said the provinces had been advised to remain frugal in […]

CHAGAI: Trade activities between Pakistan and Iran have been suspended as Iranian authorities have closed the joint trade gate and market on Taftan and Mir Javeh border crossings at connection with Eid holidays. According to official sources, the Zero Point Gate was closed, while business activities were also halted in joint market on the both […]

KARACHI: Gold prices in Pakistan surged past the Rs122,000-a-tola mark to reach Rs122,750, continuing their rally for the 12th day straight on Friday. Investors have continuously poured money into gold for days in a row now, boosting its demand, as confidence in other commodities, currencies, and stocks faltered due to the coronavirus pandemic. According to […]

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) on Wednesday proposed an increase of about Rs7-9 per litre in petrol and high speed diesel (HSD) for next month and about Rs6 per litre increase in kerosene and light diesel oil (LDO) rates. However, the government is expected to increase the price of petrol and HSD […]

WASHINGTON: The United States on on Tuesday signed a $1.95 billion agreement with US pharma giant Pfizer and Germany’s BioNTech for 100 million doses of their experimental COVID-19 vaccine, part of an aggressive push to start immunizing Americans early next year. It is the biggest deal to date under Operation Warp Speed, intended to accelerate […]

KARACHI: Gold continued rallying in Pakistan for the ninth consecutive day on Friday, eyeing the Rs120,000-a-tola mark and reaching Rs118700. Investors have been pouring money into gold for a while now, boosting its demand, as the coronavirus pandemic weakens confidence in other commodities, currencies, and stocks. According to the All Sindh Sarafa and Jewellers Association […]