Soyabean, palm oil imports grew 53.07%, 28.55% in 9 months By: APP on April 25, 2024Edible oil imports including soyabean and palm into the country during the first three quarters of the current financial year increased by 53.07 per cent and 28.55 per cent respectively as compared to the imports of the corresponding period of the last year. During the period under review, about 200,191 metric tons of tea worth […]
China-Pakistan Investment and Trade Symposium held in Qingdao By: APP on April 25, 2024China-Pakistan Investment and Trade Symposium was held in Qingdao, Shandong Province, China, aiming to attract Chinese enterprises to invest in Pakistan. Pakistan Ambassador to China, Khalil Hashmi said that the economic relationship between Pakistan and China has been gaining momentum with the latest developments such as the conclusion of several agriculture market access protocols. “We […]
Rupee remains largely stable against US dollar By: News Desk on April 25, 2024The Pakistani rupee remained largely stable against the US dollar in the inter-bank market on Wednesday. At close, the local unit settled at 278.39, a loss of Re 0.01 against the greenback, as per the State Bank of Pakistan (SBP). On Tuesday, the rupee closed at 278.38, lower by Re0.05 or 0.02%. In a key […]
Gold price per tola increases Rs1,100 By: News Desk on April 25, 2024Gold prices in Pakistan were back to winning ways on Wednesday in line with an increase in the international rate. In the local market, gold price per tola increased to Rs242,000 after a single-day gain of Rs1,100. The 10-gram gold was sold at Rs207,476 after a jump of Rs943, according to rates shared by the […]
‘Strong performance’: Standard Chartered explains reason for increase in share price By: News Desk on April 25, 2024Standard Chartered Bank (Pakistan) Limited (SCBPL), a subsidiary of Standard Chartered Plc, said on Tuesday that the announcement of financial results for the year 2023 “triggered” a positive trend in the price of its shares. In a notice to the Pakistan Stock Exchange (PSX), which was aimed at responding to a PSX letter, SCBPL stated: […]
Pakistan Refinery suffers Rs1.24bn loss in 3QFY24 By: News Desk on April 25, 2024Battered by lower revenue and high cost of sales, Pakistan Refinery Limited (PRL), a subsidiary of the Pakistan State Oil Company Limited (PSO), sustained a massive loss of Rs1.24 billion in the quarter ended March 31, 2024. In the same period last year, PRL posted a profit after tax of Rs1.77 billion. According to a […]
Machinery import surges by 30% in nine months By: APP on April 25, 2024The imports of the overall machinery group witnessed an increase of 30 percent during the first three quarters of the current fiscal year (2023-24) compared to the corresponding period of the last year, the Pakistan Bureau of Statistics (PBS) reported. The total imports of the machinery group during July-March (2023-24) stood at $5,854.931 million against […]
Maize exports increase by 195% By: inp on April 25, 2024Pakistan has witnessed an extraordinary surge in maize exports, recording an unprecedented growth of 195% from July 2023 to February 2024, reaching $324 million compared to a mere $10 million during the same period last year. Major maize markets for Pakistan include Vietnam, Malaysia, Korea, and Oman. The Trade Development Authority of Pakistan (TDAP), in […]
Steps under way for expediting cotton cultivation By: APP on April 25, 2024Director Agriculture Sargodha region Muhammad Shahid said that in line with special directives of Punjab government, special steps were under way for expediting the cotton produce in the region. While talking to APP here on Wednesday,he said that a target was set to cultivate cotton on an area of 197,000 acres in the division in […]
Pakistan catching ride on global EV boom By: APP on April 25, 2024Pakistan, in its timely joining the global trend, is ramping up cooperation with international EV giants to amplify its own competence. Last month, Automobile brand Huazi Green Energy, a joint Pakistan-China venture, announced the plan to display the first electric car in Islamabad this month, achieving yet another score in Pakistan’s EV endeavour. In May, […]