Saudi Aramco signed an agreement with Chinese partners on Sunday for an oil refinery and petrochemical project in northeast China that is expected to start in 2026 to meet the country’s growing.
The assets and loans of collapsed US lender Silicon Valley Bank (SVB) are being bought by rival First Citizens BancShares. The failure of SVB earlier this month triggered fears about the stability.
The central bank said that its foreign exchange reserves increased by $280 million to $4.6 billion as of the week ended March 17. The net forex reserves held by commercial banks stand.
Gold prices jumped on Friday as demand for the safe-haven metal was boosted by seasonal demand in Ramadan which was followed by a wedding season. Data released by All-Pakistan Sarafa Gems and.
Pakistan’s leading car assembler, Indus Motor Company (IMC), announced a four-day plant shutdown due to “hurdles in import and clearance of consignments”. The company, in a notice sent to the Pakistan Stock.
The Senate Standing Committee on Power Division on Wednesday informed that work on all three lots including Dasu Hydropower Project, Mansehra Sub Station and Islamabad Sub Station has already been started. The.
The gold rate in Pakistan continued to decline on Tuesday in line with the international market and the appreciation of the rupee against the US dollar. Data released by All-Pakistan Sarafa Gems.
It emerged that Amazon, the world’s largest online retailer, would lay off about 9,000 employees, or nearly 3 percent of its workforce. The new layoffs are on top of the previous round.
The US Federal Reserve and other major central banks have announced a coordinated effort to improve banks’ access to liquidity, hoping to calm worries rattling the global banking sector. The special drive.
Stocks markets have tumbled again as fears of a banking crisis resurfaced despite massive financial lifelines thrown at embattled lenders to prevent contagion across the sector. Markets had rallied on Thursday after.
Lahore: State Minister for Petroleum Dr. Musadik Malik said that Pakistan would receive the first cargo of crude oil from Russia in April this year. In a television talk show, the state.
Finance Minister Mohammad Ishaq Dar on Thursday assured that details of the staff-level agreement with the International Monetary Fund (IMF) will be made public. Speaking at the Senate Committee of the Whole,.
US President Joe Biden has approved a major oil and gas drilling project in Alaska that faced strong opposition from environmental activists. The company behind the Willow project, ConocoPhillips, says it will.
Oil prices fell more than $1 on Tuesday, extending the previous day’s slide, as the collapse of Silicon Valley Bank rattled equities markets and sparked fear about a fresh financial crisis. Brent.
Shares at the Pakistan Stock Exchange (PSX) witnessed a bullish trend in early trading session on Monday. The benchmark KSE-100 index gained 452.03 points, or 1.08 percent, to reach 42,246.69 points at.
People and businesses who have money deposited with failed US bank Silicon Valley Bank (SVB) will be able to access all their cash from Monday, the US government has said. A statement.
Most Asian markets fell on Monday as the closure of two regional US banks sparked fears of contagion in the financial sector, even as officials promised to support customers. The collapse on.
Iran has expressed its interest to initiate more projects on electricity in Pakistan as Energy Minister Khurram Dastgir Khan met Iranian counterpart Ali Akbar Mehrabian in Tehran. According to a statement issued.
Saudi Aramco, the world’s largest oil-exporting company, said that annual net profit surged 46 percent in 2022, driven by higher oil prices. Net profit for the 12 months to the end of.
Silicon Valley Bank collapsed on Friday morning after a stunning 48 hours in which a bank run and a capital crisis led to the second-largest failure of a financial institution in US.
Gold rate slipped under Rs. 200,000 per tola on Monday as the Pakistan rupee continued to recover against the dollar for the third straight session. The price of gold (24 carats) fell.
Pakistan has received $500 million from the Industrial and Commercial Bank of China Ltd (ICBC), Federal Minister for Finance and Revenue Ishaq Dar confirmed on late Friday. The friendly country has extended.
Lahore: The State Bank of Pakistan announced a new policy and increased the interest rate to the country’s highest ever at 20 percent. As per the statistics of SBP, the highest-ever interest.
An agriculture ministry official stated that Ukraine saw no need to limit wheat exports for the July 2023-June 2024 season because the winter harvest looked to be larger than expected. Ukraine was.
The federal government on Tuesday slashed the prices of petrol by up to Rs 5 per litre, effective from March 1, 2022. In a televised address to nation, Finance Minister Ishaq Dar.
Islamabad: Moody’s downgraded Pakistan’s local and foreign currency issuer and senior unsecured debt ratings to Caa3 from Caa1. The decision was driven by Moody’s assessment that Pakistan’s increasingly fragile liquidity and external.
Energy Minister Khurram Dastgir Khan has said that the country has coal deposits enough to generate 100,000-megawatt electricity. He expressed gratitude to the chief minister of Sindh for cooperation adding that there.
Staff-level agreement between the International Monetary Fund (IMF) and Pakistan faces delay and is likely to be finalized in March. A staff-level agreement with Pakistan on the ninth review for a $6.
Islamabad: The Pakistan rupee appreciated by 94 paisa against the dollar in the interbank trading on Friday and closed at Rs. 259.99 against the previous day’s closing of Rs. 260.93. According to.
Karachi: Pakistan on Friday received a new $700 million loan from China to help shore up its foreign exchange reserves. The credit facility, made through the state-owned China Development Bank boosted Pakistan’s.
