SECP sounds alarm on social media scams By: APP on September 4, 2024The Securities and Exchange Commission of Pakistan (SECP) has issued a public alert regarding the increasing number of fraudulent social media and WhatsApp groups that are operating under the guise of investment training courses. A press release issued by the SECP said that these groups are impersonating well-known local and international business personalities or reputable […]
PTA receives Spectrum auction proposals By: APP on September 4, 2024The Pakistan Telecommunication Authority (PTA) has received five proposals from international consultants to enhance the experience of Next Generation Mobile Services (NGMS) in Pakistan for providing consultancy services for the upcoming spectrum auction. Aetha Consulting Limited, Detecon Consulting FZ-LLC, Frontier Economics Limited, KomKonsult (Private) Limited and National Economic Research Associates Inc. have submitted their technical […]
National Refinery Loses Rs15.8bn By: News Desk on September 3, 2024Despite higher revenue and lower finance cost, National Refinery Limited (NRL) registered a massive loss of Rs15.79 billion during the fiscal year that ended June 30, 2024. The amount is also higher than the loss posted in the previous fiscal year when it stood at Rs4.46 billion. Resultantly, the company’s loss per share (LPS) ballooned […]
‘Economy in state of collapse’: Dr Kaiser Bengali By: News Desk on September 3, 2024Renowned economist Dr Kaiser Bengali has resigned from the Austerity Committee (High-Powered Committee for Rightsizing the Federal Government) formed by Prime Minister Shehbaz Sharif to reduce government expenditures. In his resignation letter, Dr Kaiser cited the lack of government commitment to reduce expenditure, read a press statement. Dr Kaiser said that he was “immensely disappointed […]
Indus Motor defies sector slump with 56% profit jump By: APP on September 3, 2024Indus Motor Company (IMC) reported a profit of Rs15.07 billion for the fiscal year that ended June 30, 2024 (FY24), an increase of 56% when compared with earnings of Rs9.66 billion in the same period of the previous year. The rise in profit comes despite lower revenue during the period. As per the latest financial […]
PSX witnesses bearish trend, loses 204 points By: APP on September 3, 2024The 100-Index of the Pakistan Stock Exchange (PSX) witnessed bearish trend on Monday, losing 204.92 points, a negative change of 0.26 percent, closing at 78,283.30 points against 78,488.22 points on the last working day. A total of 457,280,204 shares were traded during the day as compared to 680,810,524 shares the previous day, whereas the price […]
Rupee sheds 11 paisa against dollar By: APP on September 3, 2024Pakistani rupee on Monday depreciated by 11 paisa against the US dollar in the interbank trading and closed at Rs 278.64 against the previous day’s closing of Rs 278.53. However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 278.25 and […]
Gold rates remain unchanged at Rs.262,500 per tola By: APP on September 3, 2024The price of 24 karat per tola gold witnessed no change on Monday and was traded at Rs.262,500, the All Sindh Sarafa Jewellers Association reported. The price of 10 gram 24 karat and 10 gram 22 karat gold also remained constant at Rs. 225,051 and Rs.206,297. The price of per tola and ten gram silver […]
9.6%: Pakistan’s first single-digit inflation in 3 years By: APP on September 3, 2024The core inflation measured by Consumer Price Index (CPI) decelerated further to 9.6 percent during August 2024 as compared to 11.1 percent recorded during July 2024, Pakistan Bureau of Statistics (PBS) reported Monday. According to PBS data, the CPI based inflation during the same month of last year (August 2023) was recorded at 27.4%. On […]
Pakistan’s July exports rise by 25.59% By: APP on September 3, 2024Pakistan’s exports to the seven regional countries increased 25.59 per cent in the first months of the current fiscal year (2024-25) compared to the corresponding month of last year. The country’s exports to the regional countries including Afghanistan, China, Bangladesh, Sri Lanka, India, Nepal, and the Maldives account for a small amount of $339.880 million, […]