US President Joe Biden nominated former Mastercard Inc (MA.N) CEO Ajay Banga to lead the World Bank, betting the India-born executive’s ties to the private sector and emerging markets will jump-start the.
British businesses reported an unexpected bounce in activity this month. The preliminary “flash” reading of the S&P Global/CIPS UK Composite Purchasing Managers’ Index (PMI) jumped to 53.0 in February from 48.5 in.
India’s Russian oil imports climbed to a record 1.4 million barrels per day (bpd) in January, upto 9.2% from December, with Moscow still the top monthly oil seller to New Delhi, followed.
According to the Pakistan Bureau of Statistics (PBS) showed on Friday, short-term inflation measured by the Sensitive Price Index (SPI) jumped to 38.42 percent for the week ending on February 16. Last.
Digitisation can contribute $60 billion to Pakistan’s economy and provide innovative employment opportunities for the 23% of country’s population in the next seven to eight years, said a report issued by the.
A petition was filed in the Lahore High Court (LHC), challenging the recent hike in prices of petroleum products. The petition has been filed by a citizen named Munir Ahmed through his.
Islamabad: The government on Tuesday, while bowing to another demand of the International Monetary Fund (IMF), decided to increase the sales tax. In this regard, the Ministry of Finance officials sent a.
Fitch Ratings downgraded Pakistan’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to “CCC-” from “CCC+”. The downgrade reflects further sharp deterioration in external liquidity and funding conditions and the decline of foreign exchange.
Pakistan plans to quadruple its domestic coal-fired capacity to reduce power generation costs and will not build new gas-fired plants in the coming years, its energy minister told Reuters on Monday, as.
Lahore: Punjab Flour Mills Association (PFMA) announced calling off strike it had announced on Feb 14 against the government’s raids on the mills. Chairman PFMA Iftikhar Ahmad Mattu said the mills would.
Islamabad: The Economic Coordination Committee (ECC) approved the increase in the prices of gas in the wake of the government’s negotiations with the International Monetary Fund (IMF). The session of the ECC,.
Islamabad: The per tola price of 24 karat gold decreased by Rs. 800 on Monday and was traded at Rs. 197,600 against sale at Rs. 198,400 the last trading day. The price.
Islamabad: The overseas workers’ remittances posted a decline of 11 percent during first seven months (Jul-Jan) of fiscal year 2022-23. The remittances fell from $17.98 billion in Jul-Jan of FY22 to $16.01.
Moody’s Investors Service said in a statement that revenue-raising measures would likely be among the prior actions that the International Monetary Fund (IMF) requires before releasing the next tranche of financing to.
Oil contracts rebounded on Friday after Russia announced it would slash its crude output in response to a Western price cap that was imposed on exports after Moscow’s invasion of Ukraine. Brent,.
Peshawar: According to the report released by the Department of Tourism, Khyber Pakhtunkhwa saw an influx of over 800,000 national and foreign visitors who flocked in to enjoy the snowy winter. Statistics.
The National Electric Power Regulatory Authority (NEPRA) has taken major steps to start power generation from solid waste and ordered the National Transmission & Despatch Company (NTDC) to fix quota for the.
The National Electric Power Regulatory Authority (NEPRA) on Thursday announced to lower the power tariff by Rs10.80 per unit for the K-Electric consumers. According to the notification issued by the NEPRA, the.
On Thursday, State Bank of Pakistan (SBP)-held foreign exchange reserves fell below $3 billion to a nine-year low. In a statement, the central bank said that as of the week ended on.
Pakistan and the International Monetary Fund (IMF) reached an agreement after 10 days of “tough” parleys. The deal unlocked over a $1 billion loan tranche under Extended Fund Facility (EFF) that had.
Islamabad: Finance Minister Ishaq Dar said on Thursday that talks with the International Monetary Fund (IMF) were “on track” and the government would share “good news” on the matter today. The finance.
The steel bar prices have crossed Rs280,000 per tonne after a massive rupee devaluation and rising prices of raw materials in Pakistan. The price of steel has reached all-time high leading to.
Water and Power Development Authority (WAPDA) will add as much as 10,000 MW of low-cost, green and clean hydel electricity to enhance the power generation capacity of the country by 2030. Consequently,.
Islamabad: The exchange rate of the Pakistani rupee strengthened by Rs. 2.96 against the US dollar in the interbank trading on Wednesday and closed at Rs. 273.32 against the previous day’s closing.
Punjab caretaker CM Mohsin Naqvi on Wednesday constituted an agriculture task force to increase production. The task force will present its recommendations on increasing agriculture production and prompt reach to the market..
Gold prices in Pakistan witnessed a steep decline on Tuesday amid ongoing economic uncertainty in the country. According to All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats).
K-Electric and China Three Gorges South Asia Investment Limited signed a memorandum of understanding (MoU) to collaborate in the development of about 1,000MW of renewable energy and hydropower projects. According to a.
The transmission line for import of 100MW additional power supply from Iran has been completed. Testing of the 29km long power transmission line has been completed. The National Transmission and.
Federal Minister for Energy and Power Khurram Dastgir on Sunday said, on the directives and special interest of Prime Minister Shehbaz Sharif, the electricity supply to Upper Chitral would be started from.
Following a massive hike in petrol and diesel prices, the public transporters announced 10 per cent increase in intercity fares. In a statement issued by All-Pakistan Public Transport Owners Federation (APPTOF), the.
