Al-Khorayef emphasized that Saudi Arabia will prioritize its interests and explore new opportunities, separating politics from commerce. The broader adoption of the “petroyuan” is seen as a significant step in the yuan’s internationalization, challenging the US dollar’s dominance in global commodity markets. China has been promoting the yuan’s use in international trade, including a currency […]
Sources said that the petrol and high-speed diesel prices are likely to be reduced by Rs12 per litre each while the rate of kerosene oil would be slashed by Rs8 per litre. The final decision regarding slash in petrol price will be made after observing fluctuation in the international market from September 12 to 14. […]
Brent crude futures for November were up $1, or 1.4% at $71.61 a barrel at 0632 GMT. U.S. crude futures for October were up 92 cents, or 1.4%, at $68.23 a barrel. Both contracts rose by more than 2% in the previous session as offshore platforms in the U.S. Gulf of Mexico were shut and […]
As per details, there is a possibility that the government may phase out lump sum hikes in pensions for retired public employees. The Finance Ministry has indicated that pensions could see an 80% increase to the inflation data of the last 2 years. The Pakistani government announced a 15% increase in pensions during the current […]
Progress on the TAPI pipeline — running through Turkmenistan, Afghanistan, Pakistan, and India — has been repeatedly delayed because of security issues in conflict-ravaged Afghanistan. “From today the operations will start on Afghanistan’s soil,” Taliban government spokesman Zabihullah Mujahid said at the ceremony in comments broadcast by Afghan state television. At the border ceremony in […]
According to sources, FBR needs to collect Rs2,654 billion in taxes for the first quarter of the fiscal year 2024-25, with Rs 1,190 billion required in September 2024 alone. If FBR fails to meet the target by the end of the first quarter (July-September), the International Monetary Fund (IMF) may push Pakistan for a mini-budget […]
In the previous policy announcement, the central bank had fixed the policy rate at 19.5 percent. The Monetary Policy Committee (MPC) of the central bank meets today to fix the policy rate for the next one and a half months. Experts expect the committee to continue monetary easing between 150-200bps, on a lower inflation outlook […]
According to the data, as many as 12,274 cars were sold during the months under review as opposed to 9,611 units in the same months of last year. The breakup figures showed that 1,863 units of Honda Civic and City were sold during July-August 2024-25 compared to the sale of 700 units during July-August 2023-24. […]
Similarly, sales were up by 22.64 percent compared to July 2024, when 84,993 units were sold. According to the Pakistan Automotive Manufacturers Association (PAMA), sales in the first two months of FY25 (July and August) hit 189,227 units, which is 16.87 percent higher than the 161,906 units sold in the same period last year. In […]
The greenback closed at Rs 278.61 against the previous day’s closing of Rs 278.70. However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 278.85 and Rs 280.45 respectively. The price of the Euro decreased by 70 paise to close at […]
