Elon Musk, the chief executive officer of electric car company Tesla has leapfrogged Facebook’s Mark Zuckerberg and has now become the third-richest person in the world! The tech mogul’s fortune swelled by more than $15bn (£11.3bn) in a single week after Tesla’s shares jumped 13% following the news of its selection to join the S&P […]
Pakistani rupee became the third best-performing currency in Asia. After the currency hit an almost eight-month high at Rs158.91 against the US dollar in the interbank market on Monday, experts said. The development may help to tackle high inflation. Pakistan has turned a net importer of wheat, sugar, and cotton this year to improve supplies. […]
The Board of Governors of the Pakistan Cricket Board (PCB) held their 59th meeting at the National High-Performance Centre in Lahore on Monday. The BoG approved the audited financial statements 2019-20, which included an after-tax-profit of Rs.3.8 billion. The PCB reserves now stand at Rs.17.08 billion as compared to PKR13.28billion in the 2018-19 financial year. […]
The United States dollar fell to a six-month low against the rupee in the interbank market, losing 14 paisas to reach Rs159.97, according to data released by the State Bank of Pakistan on Tuesday. The last time the dollar stood at similar levels was earlier this year on May 8, when it was changing hands […]
The late launch of new 5G phones caused Apple Inc’s AAPL.O customers to put off buying new devices, leading the company on Thursday to report the steepest quarterly drop in iPhone sales in two years. Apple fell over 5% at one point in after-hours trade, wiping $100 billion from its stock market value. Even as […]
FBR: The Federal Board of Revenue’s Large Taxpayer Unit in Islamabad on Wednesday sealed the main business premises of cellular company Jazz. It was alleged that non-payment of Rs-25.393 billion income tax for the tax year 2018. Earlier in the day, a notice was issued to Principal Officers Pakistan Mobile Communication Limited (PMCL); Aamir Hafeez […]
The foreign exchange reserves held by the central bank rose 0.45% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On October 23, the foreign currency reserves held by the SBP were recorded at $12,121.5 million; up $55 million compared with $12,066.6 million in the previous week. […]
Pak Suzuki Motor Company’s loss contracted by a significant 88.2% to Rs136.4 million. In the quarter ended September 30, 2020, on the back of rupee recovery and decline in interest rate According to a notice sent by the company to the Pakistan Stock Exchange on Tuesday. The automaker had reported a loss of Rs1.16 billion […]
Pakistan has asked the International Monetary Fund (IMF) to relax the conditions for a mini-budget and increase in electricity prices at least till March next year after Prime Minister Khan again shot down both the proposals due to already high prices. About 10 days ago, the Ministry of Finance had sought the prime minister’s approval […]
The government of Japan has offered Pakistani youth to make use of their skills to benefit from the employment opportunities offered by different sectors of the Japanese economy. “Japan wants to give chance to the talented youth of Pakistan to get themselves connected with the modern and innovating Japanese industrial sector for enhancing their skills […]
