Category: Business

Only a day after gaining some lost ground, the rupee on Monday resumed its slide against the United States dollar as it fell by Rs1.90 to reach Rs158.6 in the interbank market. However, in the open market, the local currency recovered by Rs2 to stand at Rs156.5, as opposed to Friday’s closing of Rs158.5. Since […]

KARACHI: Falling world prices of various commodities owing to the coronavirus has diluted the impact of rupee devaluation against the dollar on local prices of imported items. Market people said that in addition to the declining trend in world prices, local prices of imported pulses, spices, chemicals, tea, palm oil, plastic items etc have remained […]

KARACHI: Foreign inv­estors have pulled out almost one-sixth of their investments, usually referred to as hot money, in treasury bills (T-bills) during the last three weeks as they jump to safer bets to mitigate risks in the aftermath of coronavirus pandemic. Net outflows from the T-bills reached $606.54 million in the first 12 days of […]

The benchmark KSE-100 index was back in the positive zone at market close on Friday after stocks recovered from intraday losses of nearly 1,700 points. Minutes after the opening bell, shares fell as low as 34,266.91 (1689.78 points) as panic from the global coronavirus outbreak and trade disruptions was also witnessed at the PSX just […]

The escalating coronavirus emergency sent the stock market on Thursday into its worst slide since the Black Monday crash of 1987, extending a sell-off that has now wiped out most of Wall Street’s big gains since US President Donald Trump took office. The S&P 500 plummeted 9.5 per cent, for a total drop of 26.7pc […]

Shares plunged in Asia on Friday, with benchmarks in Japan, Thailand and India sinking as much as 10 per cent after Wall Street suffered its biggest drop since the Black Monday crash of 1987. Markets worldwide have retreated as fears of economic fallout from the coronavirus crisis deepen and the meltdown in the US, the […]

ISLAMABAD: Despite repea­ted pronouncements by PM Imran Khan to have frozen energy prices until June, power companies working under the Power Division have sought up to Rs2 per unit increase in electricity rates for three months under monthly fuel price adjustments. The National Electric Power Regulatory Authority (Nepra) has fixed three separate petitions filed by […]

ISLAMABAD: Adviser to the Prime Minister on Commerce, Industry and Investment Abdul Razak Dawood said on Tuesday that the government’s export-led growth strategy had started bearing fruit as Pakistan had posted a 13.6 per cent growth in exports at a time when regional competitors were witnessing a decline. Speaking at the “Dialogue on Industrial Cooperation […]

Oil prices climbed for a second day on Wednesday as hopes US producers would cut output lent support, but gains were capped by growing doubts about Washington’s stimulus package to fight the coronavirus, which continues to spread globally. Brent crude futures rose $1.26, or 3.4 per cent, to $38.48 a barrel by 0418 GMT, while […]

Stocks dropped in Asia on Wednesday despite gains on Wall Street on hopes the Trump administration will act to cushion the economic pain of the coronavirus outbreak. Japan’s benchmark Nikkei 225 lost 2.2 per cent to 19,427.38. Australia’s S&P/ASX 200 plunged 3.6pc to 5,725.90. South Korea’s Kospi shed 2.9pc to 1,905.50. Chinese shares erased morning […]