Category: Business

The United States dollar continued its gains against the rupee on Wednesday in the intraday trade as it rose by a further Rs0.8 to reach Rs158.6 by 4:26pm in the interbank market. In percentage terms, this showed an increase of 0.51 per cent over Rs157.8 at the day’s beginning. After staying steady for around six […]

ISLAMABAD: The Uni­ted Nations Conference on Trade and Development (UNCTAD) has included Pakistan in the list of 20 economies across the world that have been affected the most after China suffered slowdown because of novel coronavirus. The affected value chain for Pakistan is textiles and apparel which amounts to $44 million from a two per cent reduction […]

ISLAMABAD: The Ministry of Communications is seeking an end to the practice of extending unsolicited expensive loans to the National Highway Authority (NHA) by the federal government through its ‘imposed projects’. The state-run NHA has a cash development loan (CDL) portfolio of over Rs2 trillion from the federal government, hampering smooth operations and development of […]

Losing more than a quarter of their value, oil prices were set for their biggest one-day decline in 29 years on Monday, after Saudi Arabia ignited a price war in a market already reeling from the impact of the coronavirus on global demand. Saudi Arabia slashed its official selling prices and made plans to ramp […]

World oil prices crashed on Monday, fuelling a vicious selloff on stock markets — which were already buckling under intense pressure over the spreading deadly coronavirus. Stocks tanked as the global oil market nosedived 30 per cent at one stage after top exporter Saudi Arabia slashed the prices it charges customers following a bust-up with […]

Trading at the Pakistan Stock Exchange was paused for 45 minutes on Monday, seven minutes after the opening bell, after the benchmark index dropped 2,106 points. According to reports from the market, trading was halted at around 9:37am after a rapid 5.83 per cent decline (2,106 points) in share prices. After trading resumed at 10:24am, […]

KARACHI: As the fate of both provincial and federal government-funded transportation projects remains uncertain amid the widening gap between demand and supply of adequate transportation facilities, international players are seeing great opportunities in Karachi to expand their businesses. This time round, a Chinese tech giant is set to launch wide-ranging operations in Karachi, including delivery […]

ISLAMABAD: Food Security Minister Makhdoom Khusro Bakhtyar on Thursday said the price of urea has been fixed at Rs1,665 per 50kg bag, which will provide relief to farmers especially as the standing wheat crop was at its final stages. He said that the price reduction was in line with the vision of the government to […]

ISLAMABAD: The Privat­i­sation Commission on Thur­sday discussed the divestment of up to 10 per cent shares of the Oil and Gas Development Company Ltd (OGDCL) and decided to seek approval of the Cabinet Committee on Privatisation in its next meeting. The committee on privatisation in its meeting in August 2019 had decided to divest up […]

ISLAMABAD: More than 1,400 trucks loaded with goods are stranded at the Taftan border crossing after Pakistan temporarily closed its border with Iran over concerns of coronavirus, Dawn has learnt from knowledgeable sources. Pakistan closed its border with Iran on Feb 23 amid rising number of coronavirus cases and associated deaths. Balochistan, which shares 959km border with […]