Business

IMF confirms over the staff level agreement with Islamabad

The International Monetary Fund confirmed reaching a staff level agreement with Pakistan, which is a $6-billion three-year extended Fund facility to support Pakistan’s economic reforms. According to IMF’s communication department official Gerry Rice, the programme is aimed at reducing public debt, and helping Pakistan get back on the path to sustainable and more inclusive growth. “We hope that the program...

100 Views 0

Pakistan, World Bank sign $100m deal for ‘Sindh Solar Energy Project’

KARACHI: Pakistan and World Bank have signed an agreement worth US $ 100.0 million for "Sindh Solar Energy Project" in Islamabad today (Wednesday). The objective of the project is to increase solar power generation and access to electricity in Sindh Province. The project will support the deployment of solar power in Sindh Province spanning three market segments: utility scale, distributed...

250 Views 0

Wall Street set to open higher on trade deal hopes

U.S. stocks were set to gain for a third day on Tuesday, lifted by hopes that the United States and China would strike a deal to end their months-long trade war that has battered financial markets. Futures pointed to a 0.8 percent ESc1 opening gain for the S&P 500 .SPX, with the index set to add to a 4 percent...

219 Views 0

Gold price continues to rise in Pakistan

KARACHI: The price of gold has increased in Pakistan owing to a rise in the international market. The gold price in Pakistan shot up on Monday by Rs200 taking it to Rs67,300 per tola. In the local market, price of 10 grams gold has increased by Rs200 taking it to Rs57,700. The prices of one tola and 10 grams were...

145 Views 0

Pakistan, Saudi Arabia to sign MoU of multi-billion Dollar Oil Refinery

According to Saudi English Daily Arab News, Pakistan and Saudi Arabia are set to sign a Memorandum of Understanding (MoU) for the construction of a multi-billion dollar Saudi Aramco oil refinery in Gwadar. A cabinet member confirmed that Saudi Crown Prince Mohammad bin Salman would arrive in the country in the first week of February and an MoU for establishing a...

446 Views 0

US team to visit China for trade talks

A US government delegation will visit China next week for the first face-to-face talks since President Donald Trump and his Chinese counterpart agreed on a temporary truce in the trade war, Beijing said Friday. The US and China have exchanged tit-for-tat tariffs on more than $300 billion worth of goods in total two-way trade, locking them in a conflict that...

129 Views 0

Apple shares slide after iPhone maker issues rare revenue warning

Apple Inc shares fell as much as 9 percent in early trading after the iPhone maker blamed weak China demand for its revenue shortfall in the holiday quarter, a clear sign of the company’s struggles in the world’s largest smartphone market. The rare revenue warning - the company’s first in nearly 12 years - sent shockwaves through global financial markets...

254 Views 0

Qatar Airways acquires 5 percent of China Southern Airlines

DUBAI/BEIJING: Qatar Airways has acquired a 5 percent stake in China Southern Airlines, the state-owned Gulf carrier said on Wednesday, in a move to gain access to the fast-growing mainland Chinese market. Qatar Airways also owns a 20 percent stake in British Airways-parent International Consolidated Airlines Group, 10 percent of South America’s LATAM Airlines Group SA, 49 percent of Italy’s...

209 Views 0

Petrol, diesel prices slashed for January 2019

ISLAMABAD: The federal government on Monday has slashed petroleum product prices for the month of January 2019. According to the notification, petrol price has been cut by Rs4.86 per litre; Diesel by Rs 4.26 per litre; Light diesel oil Rs2.16 per litre and kerosene oil by Rs.52 per litre. Oil and Gas Regulatory Authority on Friday had recommended cut in...

910 Views 0

OGRA recommends cut petroleum prices by Rs9.50 per litre

ISLAMABAD:According to sources on Friday, Oil and Gas Regulatory Authority has recommended cut in petroleum product prices for the month of January 2019. The regulatory body has forwarded the summary to slash the prices from January 01 to Petroleum Division. Sources said OGRA has recommended Rs9.50 per litre cut in the price of petrol, diesel Rs15 per litre, light diesel...

273 Views 0

State Bak of Pakistan reserves fall by $591m

KARACHI: Accoring to the data released on Thursday, the foreign exchange reserves of the State Bank of Pakistan (SBP) fell by $591 million to $7.457 billion on Dec 21, the data released on Thursday showed. Holdings of commercial banks jumped by $23.8m to $6.56bn while the country’s total liquid reserves stood at $14.017bn during the period under review. The SBP...

223 Views 0

Wall Street surge provides relief to battered stock markets

Asian shares on Thursday rode a dramatic surge on Wall Street as markets, hammered by a recent drum roll of deepening political and economic gloom, cheered upbeat US data and the Trump administration’s effort to shore up investor confidence. In a buying frenzy that was as spectacular as the recent rout, US stocks soared with the Dow Jones Industrial Average...

214 Views 0

Pak-Argentina agree to boost trade relations in diverse fields

The Pakistani and Argentine officials have discussed ways and means to boost their bilateral relations in diverse fields at their talks in Islamabad on Wednesday. The Pakistan side was led by Secretary Commerce Younus Dagha while the Argentinean delegation was headed by its ambassador to Pakistan Rodolfo José Martin Saravia. The secretary commerce said that Pakistan and Argentine have two...

208 Views 0

Pakistan to receive UAE’s $3bn in one go, plus oil on credit: sources

ISLAMABAD: Pakistan is expected to receive $3 billion from the United Arab Emirates (UAE) in one go, sources said Sunday. The sources further explained that the interest rate on the amount the UAE will deposit in the State Bank of Pakistan (SBP) will be at an interest rate of 2.18 percent. The monetary package, courtesy of the Emirates, is expected to...

293 Views 0

UAE announces to deposit $3 billion in State Bank of Pakistan

ABU DHABI: On Friday, the United Arab Emirates has announced its intention to deposit US$3 billion in the State Bank of Pakistan to support the country’s financial and monetary policy. In a statement today, the Abu Dhabi Fund for Development, said it will deposit the amount in the coming days to enhance the country's liquidity and monetary reserves of foreign...

252 Views 0

Bullish trend witnessed at PSX as KSE-100 index gains 173 points

KARACHI: The KSE-100 Index closed today (Thursday) at 38236.52 points as compared to 38063.15 points on the last working day with a positive change of 173.37 points. The total turnover was 136,687,600 as compared to 101,040,340 on the last working day with P.T.C.L XD having the highest turnover of 11,839,500. Total 342 companies’ transacted shares in the Stock Market today...

240 Views 0

PSX remains bearish on Monday as KSE-100 Index losses 276 points

KARACHI: The KSE-100 Index closed at 38309.17 points as compared to 38585.66 points on the last working day with a negative change of 276.49 points. The total turnover was 66,826,640 as compared to 98,522,230 on the last working day with Bank of Punjab having the highest turnover of 10,039,500. Total 311 companies’ transacted shares in the Stock Market, out of...

256 Views 0
Junior - Taleem Aam Karaingay - Juniors ko Parhaingay