SAARC Chamber for timely IMF bailout package to Sri Lanka on May 23, 2022President SAARC Chamber of Commerce and Industry Iftikhar Ali Malik Sunday urged the International Monetary Fund (IMF) to work out timely bail out package to put defaulting Sri Lanka, a financially crumbled country, on track. Talking to a delegation of women entrepreneurs led by Noreen Asim Siyal-an emerging youtuber, he said that main source of […]
‘Enormously risky’: How NFTs lost their lustre on May 23, 2022A slew of celebrity endorsements helped inflate a multi-billion dollar bubble around digital tokens over the past year, but cryptocurrencies are crashing and some fear NFTs could be next. NFTs are tokens linked to digital images, “collectable” items, avatars in games or property and objects in the burgeoning virtual world of the metaverse. The likes […]
FTO acting as public relief-oriented institution on May 22, 2022Federal Tax Ombudsman (FTO) Dr. Asif Mahmood Jah said that his office was providing full services to masses as a public relief-oriented institution. The FTO was speaking at the meeting of Advisory Committee (Central) of Federal Tax Ombudsman here at Lahore Chamber of Commerce & Industry (LCCI). LCCI Senior Vice President Mian Rehman Aziz Chan, […]
SCO Secretary General holds talks in Moscow on May 22, 2022Shanghai Cooperation Organization (SCO) Secretary-General Zhang Ming held consultations with Russian Deputy Foreign Minister Igor Morgulov in Moscow. They exchanged opinions on the key aspects of the SCO’s activity in the rapidly changing geopolitical situation. They noted the relevance of the constructive and stabilising role of the SCO in the process of establishing a more […]
European stocks rebound at end-of-week on May 21, 2022European stocks rebounded Friday on China’s interest rate cut, after sinking the previous day on fears that sky-high inflation would spark a global downturn. “Markets have been looking for an excuse to bounce, and a China rate cut provided the reason,” IG analyst Chris Beauchamp told AFP. “It isn’t much when set against the broader […]
Gold price jumps to Rs119,000 per 10g on May 20, 2022Gold extended its consolidative price move for the third successive day on Thursday due to an over 3 percent downfall in the benchmark 10-year US Treasury bond yield amid risk aversion, providing a boost to the yellow metal. As of 1255 hours GMT, gold in the international market was available at $1,839.40 per ounce, gaining […]
Gold jumps to Rs115,600 per 10g on May 18, 2022Spot gold price continued the overnight rally on Tuesday as the dollar faced heavy selling pressure amid the positive shift witessed in risk sentiment. As of 1220 hours GMT, gold in the international market was available at $1,830.20 per ounce, gaining $6.30 (+0.35 percent). Out of the $6.30 per ounce increase, +$14.25 was due to […]
Bitcoin surges to $30,451 as cryptos make gain on May 18, 2022The cryptocurrency market sat calm with minor gains on Tuesday, a day after witnessing accelerated selloff after weak Chinese economic data dented appetite for riskier assets, with market capitalisation gaining 1.4 percent to reach $1.37 trillion. The largest cryptocurrency Bitcoin’s (BTC) price surged 1.2 percent to $30,451. With this increase in price, the market capitalisation […]
Gold slips to Rs112,100 per 10g on May 17, 2022Spot gold price remained on the downward slide due to a stronger US dollar and hit their lowest level in more than three months at $1,786 before staging a comeback. As of 1245 hours GMT, gold in the international market was available at $1,806.70 per ounce, shedding $5.50 (-0.30 percent). Out of the $5.50 per […]
Bitcoin slips to $30,018 as market loses $326b in seven days on May 17, 2022A selloff in cryptocurrencies accelerated again on Monday after weak Chinese economic data dented appetite for riskier assets, with market capitalisation shedding 2.1 percent to reach $1.33 trillion. The total market value of cryptocurrencies has dropped by about $326 billion in the past seven days as of 1235 hours GMT on Monday. The largest cryptocurrency […]