With the economy under great strain, as seen by depleted foreign reserves, a rising current account deficit, and the currency plunging to a historic low, Pakistan must act quickly to reactivate the International Monetary Fund programme in order to avert a Sri Lanka-style collapse. “In order to re-enter the program,Read More →
ISLAMABAD: Textile and garment exports climbed by 25.96 percent year on year to $15.98 billion in the first ten months of the current fiscal year, owing to a significant depreciation of the rupee and a consistent rise in global demand. On Saturday, the Pakistan Bureau of Statistics (PBS) released dataRead More →
According to the Federal Bureau of Statistics, the price of a 20 kg flour bag has risen to Rs. 720 in one week.Residents in Slamabad have been impacted the worst by the flour price hike, and are now obliged to purchase the most costly flour in the country.The price ofRead More →
The Pakistan Tehreek-e-Insaf (PTI) government borrowed $52 billion in external loans in three years and eight months, placing it first among the previous four governments. In fact, the PTI returned 70% of the debts incurred by previous governments. It had surpassed Pakistan Muslim League (PML-N), which had $49.761 billion inRead More →
In the January-March quarter, Nintendo shipped 4.11 million Switch systems, increasing its total to 23.06 million for the fiscal year, barely enough to reach its revised target of 23 million. Before reaching its final projection three months ago, the business had expected 25.5 million units for the year, then 24Read More →
Only a few days after the US Federal Reserve announced a rise in interest rates to help battle inflation, the world’s leading internet businesses saw their value plummet by over $1 trillion over three trading sessions. The Federal Reserve’s recent policy aided the selling of several equities. Since then, however,Read More →
Bitcoin plummeted below $30,000 for the first time since July 2021 on Tuesday, as investors flew to cryptocurrencies in concerns of aggressive US monetary tightening and increasing inflation. The world’s largest cryptocurrency by market capitalization fell as low as $29,764 on Tuesday before rebounding more than $30,000, continuing a recentRead More →
Following significant losses the previous day, European stock markets rallied at the outset Tuesday. The FTSE 100 index in London increased 0.6 percent to 7,259.40 points. The DAX index in Frankfurt rose 1.3 percent to 13,548.45 points, while the CAC 40 in Paris gained 1.0 percent to 6,144.44 points.Read More →
The summer blockbuster season has officially begun. “Doctor Strange in the Multiverse of Madness,” the latest Marvel Cinematic Universe film, made $185 million in its first weekend in theatres, the most of any film released in 2022. “Nothing says movie theatres are returning like a Marvel film making a hugeRead More →
After a broader stock sell-off in the United States last week sent the cryptocurrency market into a frenzy and caused bitcoin to tumble by about 10%, bitcoin has continued to fall. According to data from Coin Metrics, Bitcoin, the world’s most valuable digital currency, was down around 3% at $33,438.03Read More →
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