S&P Global Ratings affirmed its ‘CCC+’ long-term sovereign credit rating and ‘C’ short-term rating on Pakistan. The outlook on the long-term rating is stable. The IMF deal is expected to bring improvement in foreign exchange reserves, which will help Pakistan to meet its debt obligations. However, Pakistan is still dependent on rollovers to maintain its […]
Petroleum prices likely to decrease by up to Rs11 per litre from the next fortnight The petrol price may drop by Rs5.50 per litre, while high-speed diesel (HSD) could see a reduction of up to Rs11 per litre. Kerosene is expected to become cheaper by Rs5.84 per litre, and light diesel oil may decrease by […]
The central bank said in a statement it had set an interest rate of 0.25 percent — up from around zero to 0.1 percent — having ditched its maverick negative rate policy aimed at boosting economic growth in March. Its decision, announced after a two-day policy meeting, caused the yen to surge briefly before weakening […]
It could chance to win prizes, including a grand prize of Rs700,000, plus several 2nd and 3rd prizes, this is an opportunity you don’t want to miss. The 47th balloting of the Rs100 prize bond will be held in Karachi on August 15, 2024 (Thursday). 1st Prize: 700,000 rupees for 1 winner 2nd Prize: 200,000 […]
Pakistan exported pharmaceutical products worth US$ 341.023 million during July-June (2023-24) as compared to the export of US$ 328.210 million during July-June (2022-23), showing a growth of 3.90 percent, according to the Pakistan Bureau of Statistics (PBS). In terms of quantity, the export of pharmaceutical goods also rose by 44.38 percent from 59,213 metric tons […]
Beijing is racing to achieve its goal of five percent annual growth in 2024, a target considered ambitious by many experts as the world’s second-largest economy faces headwinds including an indebted real-estate market, flagging consumption, and high youth unemployment. Tuesday’s gathering of the Communist Party’s powerful Politburo of senior officials was billed as a chance […]
Output in Europe’s biggest economy contracted by 0.1 percent compared with the previous three months, federal statistics office Destatis said, after expanding by 0.2 percent in the first quarter. The second-quarter data surprised analysts surveyed by FactSet who had forecast a 0.1-percent increase. The April-to-June period noticeably saw declining investment in equipment and construction, Destatis […]
According to the NEPRA spokesperson, the ‘NEPRA Asaan Approach’ will be launched across Pakistan, tomorrow. NEPRA Asaan Approach is an app for electricity consumer where they can submit complaints of electricity issues and they can also track their complaint by their tracking ID which is generated when they apply. Read more: Labourer pays Rs56K electricity […]
CM Maryam gave formal assent to make new corridors in the province in a special meeting. Chairing a meeting in Lahore today, Maryam Nawaz said that these road corridors connecting major cities will facilitate public transportation and bring economic development to these areas. The meeting was told that the project will be completed in December […]
The Indian rupee closed at 83.7275 against the U.S. dollar, unchanged from its close on Friday, after hitting an all-time low of 83.74 earlier in the session. Factors such as outflows from local equities, volatility in the Chinese yuan, and tepid risk appetite have contributed to weakness in the rupee in recent sessions. The currency […]
