According to sources, the Guddu and Nandipur power plants, listed for privatization, are fully non-operational, prompting the government to expedite preparations for reassigning GENCO staff. Of the total, 352 employees from GENCO-I, 486 from GENCO-II, 911 from GENCO-III, and 26 from GENCO-IV will be integrated into DISCOs. The reassignment plan includes deploying 348 employees to […]
This marks a leveling off following a consistent upward trend observed earlier in the week, where the AED strengthened from 76.44 PKR to 76.96 PKR, reflecting growing confidence in the Emirati economy. Understanding Currency Valuation: What Drives the Exchange Rate? Exchange rates are determined by a variety of factors, including interest rates, inflation, trade balances, […]
According to the notification, the fare per stop will be raised by Rs 10, and a 5-kilometre journey will now cost Rs 30 instead of Rs 20. Passengers travelling up to 40 kilometres will be charged Rs 7,0, and the price of a single-use ticket will also rise from Rs 60 to Rs 70. Officials […]
According to Forex.pk, the current value of 10 grams of 24-karat gold is SAR 4,139, while an ounce of gold is valued at 12,873 Saudi Riyals. The uptick in gold rates reflects ongoing trends in the global commodities market, with the latest pricing update reported at 10:00 a.m. local time. Gold has long held a […]
The official currency of Saudi Arabia, denoted as Saudi Riyal or SAR, is divided into 100 halalas. Managed by the Saudi Central Bank, it has been pegged to the US Dollar since 1986, ensuring stability. Evolving from bimetallic coins to modern currency since 1932, the Riyal reflects Saudi Arabia’s economic resilience. The shift underscores ongoing […]
The escalation came just as Group of Seven leaders were gathering in Canada, with US President Donald Trump’s tariffs already straining ties. Yet there was no sign of panic among investors as currency markets stayed calm and Wall Street stock futures firmed after an early dip. Oil did add 1% to last week’s 13% surge […]
The Monetary Policy Committee (MPC) session, chaired by the Governor SBP, will meet today to decide on the monetary policy, the central bank earlier informed in a statement. The MPC will review overall financial position, fiscal situation, major economic indicators, data of different sectors and major developments since announcement of the previous monetary policy. The […]
He issued these directives while chairing a high-level meeting on Saturday to review the policy framework for the promotion of the electric vehicles industry and usage in the country. During the meeting, the draft of the Electric Vehicles Policy 2025 was thoroughly discussed. The Prime Minister emphasized the need for swift and priority-based measures to […]
The loan adds to a $300 million commitment announced in April, bringing IFC’s total financing for the project to $700 million. The estimated cost of the mine is $6.6 billion, to be funded through a mix of debt and equity from a consortium of lenders. “The estimated total Project cost is $6.6bn, and it will […]
The escalation in hostilities in the Middle East – a major oil producing region – adds a fresh layer of uncertainty for financial markets at a time of heightened pressure on the global economy from U.S. President Donald Trump’s aggressive and erratic trade policies. Market reaction was swift. U.S. S&P E-mini futures slumped 1.7% and […]
