Business – Page 7 – PASAR NEWS

According to insiders, Ford is selling 8 million shares of Rivian, a previously high-flying electric vehicle manufacturer

According to CNBC’s David Faber, Ford Motor is selling 8 million Rivian Automotive shares, with the insider lockup for the formerly high-flying electric vehicle producer set to expire on Sunday. Rivian now has 102 million shares owned by the automaker. According to sources, Ford will sell the stock through GoldmanRead More →

The price of gold has risen by Rs 450 to Rs 132,800 per tola

On Saturday, the price of 24 karat per tola gold increased by Rs450 and was sold at Rs132,800, up from Rs132,350 in the local market. The price of 10 gramme 24 karat gold jumped by Rs386 and was sold for Rs113, 855, up from Rs113, 469, according to the AllRead More →

The NEPRA raises the power tariff by Rs 2.86 per unit.

ISLAMABAD, Pakistan – The National Electric Electricity Regulatory Authority (NEPRA) raised the power rate by Rs2.86 on Friday as part of the monthly fuel adjustment. According to the notification published by NEPRA, the price of electricity has been increased in the context of the March fuel adjustment, which is stillRead More →

Pakistan’s economy would rank 16th by 2050. PwC report

KARACHI: PricewaterhouseCoopers (PwC) believes that Pakistan will achieve exceptional growth rates over the next three decades, overtaking industrialised nations such as Canada and Italy to become the world’s 16th largest economy by 2050 in a new report. The consultancy firm produced its first ‘World in 2050’ report in March 2006,Read More →

Escorts Investment Bank has terminated another another sale-purchase agreement.

Escorts Investment Bank has cancelled another sale-purchase deal with three prospective investors on behalf of its primary sponsor, Bahria Town (Private) Limited.According to the PSX notification, Escorts Investment Bank Limited has received a notice from Bahria Town (Private) Limited for the termination of the share sale and purchase agreement datedRead More →

Pakistan’s foreign exchange reserves have fallen by $115 million.

Pakistan’s liquid foreign reserves fell by $115 million in the week ending April 30, 2022, representing a 0.7 percent drop week on week.According to the SBP weekly report issued on Friday, the country’s total liquid foreign exchange reserves fell by $115 million (-0.7 percent) on April 30, 2022, to $16.553Read More →

Salman Iqbal of ARY plans to invest in Summit Bank.

Salman Iqbal, the owner of the ARY Group, has emerged as an aspirational investor in the loss-making Summit Bank.After rescinding his proposal to invest in the telecom industry, which eventually ended after lengthy discussions between ARY and WorldCall, the broadcaster has chosen to try his luck in the banking sector.Read More →

The trade deficit in Pakistan has reached an all-time high.

During the first 10 months (July-April) of the current fiscal year, 2021-22, the country’s trade imbalance set an all-time high, increasing by 64.79 percent.According to Pakistan Bureau of Statistics figures, the trade imbalance reached $39.264 billion in 2020-21, up from $23.826 billion in the previous year (PBS). According to theRead More →

The PKR has lost 42 paisas versus the USD.

KARACHI, Pakistan – The Pakistani rupee (PKR) lost 41 paisas versus the US dollar in Thursday’s interbank session, breaking its winning run. According to the statistics, the currency finished the deal at PKR 185.87 per USD, up from PKR 185.45 per USD yesterday. Meanwhile, the local stock market was inRead More →

NBP Becomes Pakistan’s Most Profitable Bank, surpassing UBL and HBL.

The National Bank of Pakistan (NBP) Board of Directors met to discuss the bank’s financial performance and approved the condensed interim financial statements for the three months ending March 31, 2022.As the most profitable bank, the National Bank of Pakistan has surpassed United Bank Limited and HBL. As a result,Read More →