Bitcoin drops to $46,864 as market turns to profit-taking on August 18, 2021The cryptocurrency market turned to profit-taking on Tuesday, with the market capitalisation decreasing by 1.1 percent to $2.08 trillion as of 1130 hours GMT. The price of Bitcoin (BTC), the largest cryptocurrency, reached $46,864 after shedding 1.42 percent. With this decrease in price, the market capitalisation of the BTC has reached $880.4 billion. Likewise, ethereum […]
Output of LCVs increase 63.61 percent during FY 2020-21 on August 17, 2021The production of Light Commercial Vehicles (LCVs) has witnessed 63.61 percent increase during the fiscal year 2020-21 against the output of the same period of last fiscal year. As many as 19,744 LCVs were manufactured during July-June (2020-21) as compared to the production of 12,068 LCVs manufactured during July-June (2019-20), showing growth of 63.61 percent, […]
PSX loses100 points to close at 47,169 on August 14, 2021The KSE 100-index of the Pakistan Stock Exchange (PSX) witnessed bearish trend on Friday, losing 100.92 points with a negative change of 0.21 per cent, closing at 47,169.84 points against 47,270.76 points on the previous working day. A total of 213,362,547 shares were traded during the day compared to the trade of 230,174,905 shares the […]
Asian markets stutter as traders eye Fed move, Delta spread on August 14, 2021Asian markets drifted on Friday as a broadly positive week drew to a close with investors pricing in the likelihood that Federal Reserve officials will start withdrawing the vast financial support put in place at the start of the pandemic. The fast-spreading Delta virus variant, which is forcing governments to introduce containment measures, and the […]
Gold extends losses to reach Rs91,200/10gm on August 11, 2021Gold prices slowed the downward slide in the international market on Tuesday following Monday’s sharp decline and decreased by around 0.3 percent. At 1135 hours GMT, gold in the international market was available at $1,725.80 per ounce after shedding $4.80 as compared to its closing value on Monday last. Meanwhile, the price of 10 grams […]
China Telecom eyes $8.4bn Shanghai IPO, world’s biggest in 2021 on August 10, 2021China Telecom could raise more than $8 billion in a Shanghai initial public offering that would be the biggest this year, months after it was delisted in the United States amid Washington’s stand-off with Beijing. The firm said it had priced its offer at 4.53 yuan per share, which would be worth 47.1 billion ($7.3 […]
Cotton intervention price fixed at Rs5,000 per 40kg to enhance output on August 5, 2021Minister for National Food Security and Research Syed Fakhar Imam on Wednesday said that the government has approved cotton intervention price at Rs5,000 per 40 kg in order to revive output of cotton crop, which was on declining path for last several years. The fixation of intervention price of cotton crop also aimed at encouraging […]
China gaming shares dive after ‘spiritual opium’ warning on August 4, 2021Shares of Tencent and other major Chinese gaming companies plummeted on Tuesday after a state-run media article described online games as “spiritual opium”, prompting the tech giant to consider a playing ban on children under 12 altogether. The criticism triggered fears among investors that online gaming was the next target for China’s communist rulers as […]
ICCI asks MPC to further reduce policy interest rate to stimulate economy on July 27, 2021The Islamabad Chamber of Commerce and Industry (ICCI) Monday called upon the State Bank of Pakistan’s Monetary Policy Committee (MPC) to make decent cut in policy interest rate while reviewing the monetary policy on July 27, 2021 and bring it down to 3-4pc in order to stimulate the economic activity and turn around the economy. […]
SBP to announce monetary policy today on July 27, 2021The State Bank of Pakistan will announce monetary policy for the next two months on today. According to a press statement issued by SBP spokesperson, the Monetary Policy Committee of SBP would meet on Tuesday at Karachi and consider key trends and prospects in the real, external and fiscal sectors, and the resulting outlook for […]