Top News – Page 11

Textile exports increase by 26% to $16 billion.

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 →

Flour prices in Pakistan have risen by up to 100 percent.

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 →

70% of PTI Government’s Foreign Loans are used to repay previous debts.

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 →

For the first time since July 2021, Bitcoin falls below $30,000

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 →

At the open, European stocks are up

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 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 →

The rupee falls 94 paisas versus the dollar.

ISLAMABAD, Pakistan – In interbank trade on Friday, the Pakistan Rupee fell by 94 paisas versus the US Dollar, finishing at Rs 186.62, down from Rs 185.68 the previous day. According to the Forex Association of Pakistan (FAP), the open market buying and selling rates for the dollar were RsRead 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 →

Pakistan’s exports to China increased by 17% in the first quarter.

Pakistan’s exports to China surpassed 1.039 billion dollars in the first quarter of this year, from January to March, representing an almost 17 percent growth. According to figures released by the General Administration of Customs of China, China’s exports to Pakistan climbed by 28.69 percent in the first three monthsRead 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 →