Small cut in petrol prices on the cards By: inp on August 31, 2024The federal government is likely to announce a decrease in fuel prices for the third consecutive fortnight, effective September 1. Sources indicate a potential reduction of Rs3.1 per liter for petrol and Rs2.5 per liter for high-speed diesel (HSD). This decision is primarily driven by the falling prices of international petroleum products. The government is […]
OGDCL makes hydrocarbon discovery in Sindh By: APP on August 31, 2024Oil and Gas Development Company Limited (OGDCL) on Friday announced to make a discovery of hydrocarbon deposit at the Baloch-2 well in the Sanghar district of Sindh. “Based on the results of wireline logs interpretation, Drill Stem Test-3 in the Sembar Formation has tested 6.8 Million Standard Cubic Feet per Day (MMSCFD) of gas and […]
PSX turns around, gains 356 points By: Agencies on August 30, 2024The 100-Index of the Pakistan Stock Exchange (PSX) turned around to Bullish trend on Thursday and gained 356.88 points, showing a positive change of 0.46 percent, closing at 78,349.66 points against 77,992.79 points on the last working day. A total of 599,820,775 shares were traded during the day as compared to 636,024,989 shares the previous […]
PSX appoints Nadeem Naqvi as interim CEO By: News Desk on August 30, 2024The Board of Directors (BoD) of Pakistan Stock Exchange Limited (PSX) has appointed Nadeem Naqvi, a Shareholder Director, as the interim Chief Executive Officer (CEO) of the company. The company, engaged in conducting, regulating and controlling the trade in shares, shared the development to the exchange on Thursday. “Please be informed that Nadeem Naqvi, a […]
SIFC achieves significant progress in addressing economic issues By: APP on August 30, 2024The Special Investment Facilitation Council (SIFC) has made substantial progress in addressing systemic barriers to the country’s economic growth and promoting investment in various sectors since 2023. According to a press release issued by the SIFC Secretariat here Thursday, the council within limited resources, held ten meetings of the SIFC Apex Committee, ten meetings of […]
Rupee sheds 19 paisa against dollar By: APP on August 30, 2024Pakistani rupee on Thursday depreciated by 19 paisa against the US dollar in the interbank trading and closed at Rs 278.64 against the previous day’s closing of Rs 278.45. However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 278.5 and […]
Gold price per tola decreases Rs2,200 in Pakistan By: News Desk on August 30, 2024After hitting record highs in the previous session, gold prices in Pakistan declined on Thursday, despite an increase in the international rates. In the local market, the price of gold per tola lost Rs2,200, clocking in at Rs261,500. The 10-gram gold was sold at Rs224,194 after it registered a decrease of Rs1,886, according to rates […]
OICCI express commitment to IT sector at ITCN Asia 2024 By: APP on August 30, 2024The Overseas Investors Chamber of Commerce and Industry (OICCI) affirmed its commitment to advancing Pakistan’s IT and telecom sectors at ITCN Asia 2024, a Tech Festival on Thursday. In a keynote address, OICCI President Rehan Shaikh shared an optimistic vision for the future, underlining the significant potential in Pakistan for growth in IT and IT-enabled […]
Minister pledges support for private sector growth By: inp on August 30, 2024Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb chaired a review meeting with representatives from Joint Venture Investment Companies, including Pak-Brunei Investment Company Limited (PBICL) and Saudi-Pak Industrial and Agricultural Investment Company (SPI&AIC). The meeting centered on evaluating the progress, challenges, and future directions of these companies. The meeting was attended by senior leadership […]
NBP suffers massive Rs9bn loss in Apr-June 2024 By: News Desk on August 30, 2024National Bank of Pakistan (NBP), one of the country’s largest commercial banks, registered a massive consolidated loss to the tune of Rs8.98 billion during the quarter ended June 30, 2024. The bank had registered a profit after tax of Rs15.85 billion in the same period of the preceding year. As per a notice sent to […]