IMF says talks with Sri Lanka to resume next week on August 21, 2022The IMF said Friday a team will travel to Sri Lanka next week to resume aid talks that were interrupted amid the unrest that led to the resignation of the nation’s president. The island nation defaulted on its $51b foreign debt in April and country’s central bank warned Thursday that the economy could suffer a […]
SBP injects Rs862.350b into market on August 20, 2022State Bank of Pakistan on Friday injected Rs862.350b into money market for 63 days through its Open Market Operation. Rs848.350b were injected as reverse repo purchase on 15.12pc rate of return accepted. Whereas, Rs14b (face value of collateral) were injected as Shariah compliant Mudarabah based OMO with 15.11pc cut-off rate.
Gold price declines by Rs200 to Rs142,400 per tola on August 20, 2022The price of 24 karat per tola gold witnessed a decrease of Rs200 on Friday and was sold at Rs142,400 in the local market against its sale at Rs142,600 the previous day. The price of 10-gram 24 karat gold also decreased by Rs171 and was sold at Rs122,085 against its sale at Rs122,257 whereas prices […]
Qualcomm planning return to server market with new chip on August 20, 2022Qualcomm Inc is considering a return to the server market with a new chip in a bid to decrease its reliance on smartphones, Bloomberg News reported on Thursday, citing people familiar with its plan. Shares of Qualcomm rose nearly 3pc in afternoon trading. The chipmaker is seeking customers for a product stemming from its purchase […]
PSX loses 195 points on August 19, 2022The KSE 100-index of the Pakistan Stock Exchange (PSX) witnessed bearish trend on Thursday, losing 195.06 points, a negative change of 0.45 percent, closing at 43,481.50 points against 43,676.56 points on the last working day. A total of 621,216,462 shares were traded during the day compared to the trade of 607,995,986 shares the previous day, […]
Gold price declines by Rs2800 to Rs142,600 per tola on August 19, 2022The price of 24 karat per tola gold witnessed a decrease of Rs2800 on Thursday and was sold at Rs142,600 in the local market against its sale at Rs145,400 the previous day. The price of 10-gram 24 karat gold also decreased by Rs2397 and was sold at Rs122,257 against its sale at Rs124,657 whereas prices […]
Syed Murtaza urges OEMs to reduce prices of vehicles on August 19, 2022Minister for Industries and Production, Syed Murtaza Mehmood Thursday asked the OEMs to reduce prices of vehicles in view of decline in US dollar vis-a-vis Pak Rupee. He expressed these views while chairing meeting of Auto Industry Development and Export Policy here on other day, said a press release issued here. The meeting covered vast […]
Gold price increase by Rs5500 to Rs145,400 per tola on August 18, 2022The price of 24 karat per tola gold witnessed an increase of Rs5500 on Wednesday and was sold at Rs145,400 in the local market against its sale at Rs139,900 the previous day. The price of 10-gram 24 karat gold also increased by Rs4715 and was sold at Rs124,657 against its sale at Rs119,942 whereas prices […]
Pakistani rupee halts climb against US dollar on August 18, 2022On Wednesday, the Pakistani rupee ended an 11-day winning streak versus the US dollar in the interbank market, as the local currency corrected. According to the State Bank of Pakistan (SBP), the rupee declined 0.98pc to 214.88 versus the US dollar in the interbank market, down from 213.90 at the conclusion of Tuesday’s session. In […]
UK inflation to hit 15pc in early 2023 on August 18, 2022British consumer price inflation is likely to peak at an annual rate above 15pc in the first three months of next year unless there are government measures to lower prices, economists at US bank Citi forecast on Wednesday. Earlier on Wednesday, official figures showed CPI hit 10.1pc in July, above all economists’ predictions in a […]