Sterling slumps 1.5pc vs dollar on safe-haven demand on July 3, 2022After its biggest six-month decline since 2008 against the US dollar, risk-sensitive sterling briefly dipped below $1.20 against a strengthening US dollar and was last 1.5pc lower at $1.2000, Against another safe-haven, the Swiss franc, sterling plunged to its lowest level since March 2020, down 0.8pc to 1.1530. The central bank began raising borrowing costs […]
Gold and silver prices are falling too low too fast on July 3, 2022Gold and silver prices saw a large sell-off at the end of June, culminating with a large price decline on July 1. After grinding in a range for much of the past two months, goldprices have started Q3 by breaking down to a fresh four-month-low.Price is finding support at the 1785 level that I was […]
Boeing disappointed after China’s top three airlines buy 300 Airbus planes on July 3, 2022Boeing Co said on Friday “it is disappointing that geopolitical differences continue to constrain U.S. aircraft exports” while responding to China’s three biggest state-owned airlines buying 300 jets from European plane maker Airbus SE. The U.S. plane maker added that it continued to urge a productive dialogue between the U.S. and China governments. (This story […]
Bitcoin rally falters as inflation fears weigh on crypto assets on July 2, 2022Bitcoin, fresh off its biggest-ever monthly decline, whipsawed traders with wild swings on Friday as digital assets struggle to regain their footing. The largest token rallied as much as 11.3% in Asia on Friday, briefly closing in on the $21,000 level. Bitcoin then quickly gave up most of those gains, trading around $19,400 at 11:30 […]
Gold price declines by Rs450 to Rs141,100 per tola on July 2, 2022The price of 24 karat per tola gold witnessed a decrease of Rs400 per tola and was sold at Rs141,100 on Friday against its sale at Rs141,500 the previous day in the local market. The price of 10-gram 24 karat fold also decreased by Rs343 and was sold at Rs120,970 against its sale at Rs […]
SRB exceeds collection target of Rs150b during 2021-22 on July 2, 2022Sindh Revenue Board (SRB) has surpassed its revenue target of Rs150b by collecting Rs153b which shows a Rs3.5b over [the target] for the financial year of 2021-22. This emerged on Friday here when Chairman SRB presented details of the total collection of the last financial year. The chief minister was told that the SRB succeeded […]
Gold price declines by Rs350 to Rs141,500 per tola on July 1, 2022The price of 24 karat per tola gold witnessed a decrease of Rs350 per tola and was sold at Rs141,500 on Thursday against its sale at Rs141,850 the previous day in the local market. The price of 10-gram 24 karat fold also decreased by Rs300 and was sold at Rs121,313 against its sale at Rs121,613 […]
PSX gains 243 points, closing at 41,540.83 points on July 1, 2022The KSE 100-index of the Pakistan stock exchange (PSX) witnessed bullish trend on Thursday, gaining 243.10 points, a positive change of 0.59pc, closing at 41,540.83 points against 41,297.73 points on the last working day. A total of 192,897,759 shares were traded during the day compared to the trade of 142,192,900 shares the previous day, whereas […]
Bitcoin set for worst quarterly drop in a decade on July 1, 2022Bitcoin on Thursday fell below $19,000 as the world’s largest digital currency remains under pressure from macroeconomic worries and a liquidity crisis among high-profile crypto companies. Bitcoin was last trading 6pc lower at $18,930.00, according to Coin Metrics. The digital currency is down around 58pc this year alone and has fallen more than 70pc from […]
Rupee gains Rs1.76 against dollar on June 30, 2022Exchange rate of the Pakistan rupee appreciated by Rs1.76 against the US dollar in the interbank trading on Wednesday and closed at Rs205.11 against the previous day’s closing of Rs206.87. According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollars in the open market were recorded at Rs204 and Rs206.5 […]