Rupee sets fourth all-time low of 177.43 against dollar in December on December 9, 2021Rupee continues plummeting against the US dollar, as fourth all-time low of 177.43 was set up during December on Wednesday. According to the State Bank of Pakistan, the dollar opened at Rs176.79 in the interbank market and closed at Rs177.43, shedding 64 paisas (-o.34 percent). Within the open market, the rupee was traded at 178/179 […]
IMF sees China’s growth ‘slowing notably’ on December 8, 2021China has an important part to play in the global economy as it recovers from Covid-19, but its growth is slowing, IMF Managing Director Kristalina Georgieva said on Monday. The head of the Washington-based crisis lender held a virtual meeting with Chinese Premier Li Keqiang and discussed topics ranging from inflation to the recovery from […]
Bitcoin jumps to $51,079 as cryptos bounce back on December 8, 2021The cryptocurrency market bounced back on Tuesday, with the market capitalisation gaining 7.9 percent to reach $2.52 trillion as of 1230 hours GMT. The largest cryptocurrency Bitcoin price went up by 5.28 percent to reach $51,079. With this increase in price, the market capitalisation of the biggest cryptocurrency has reached 965 billion. Ether, the world’s […]
Bitcoin slips to $48,620 as cryptos back on losing streak on December 7, 2021After a minor recovery from the December 4 brutal sell-off on Sunday, the cryptocurrency market returned back to the losing streak on Monday, with the market capitalisation shedding 4.7 percent to reach $2.33 trillion as of 1210 hours GMT. The largest cryptocurrency Bitcoin price went down by 1.54 percent to reach $48,620. With this decrease […]
Gold may keep bearish tone intact after 0.51pc weekly loss on December 6, 2021After closing the last week on a negative note at $1,783.60 per ounce in the international market following a decrease of $9.20 (-0.51 percent), gold is expected to remain slightly bearish in the near term. The price of 10 grams of yellow metal in Pakistan decreased from Rs101,700 to Rs101,400 during the last week, showing […]
Bitcoin surges to $49,105 after Saturday bloodbath on December 6, 2021The cryptocurrency market recouped some of the Saturday’s losses on Sunday, with the market capitalisation gaining 5.2 percent to reach $2.44 trillion as of 1310 hours GMT. A day earlier, a massive decrease in the value of the two leading digital assets reflected a broader plunge in the crypto markets, with some cryptocurrencies dropping by […]
Minister for fixing Rs260 per kg tobacco purchase rate on December 5, 2021Khyber Pakhtunkhwa Minister for Education, Shahram Khan Tarakai on Saturday directed quarters concerned to immediately resolve the problems faced by tobacco growers and purchasing of their crops. He expressed these views while talking to a delegation of tobacco growers in his residence at district Swabi. The members of delegations informed the minister regarding the purchase […]
US closely monitoring China, Switzerland curreny policies on December 5, 2021The US Treasury said Friday it will keep a close eye on China’s economic policies and actions to influence the value of its currency, along with those of Vietnam, Taiwan and Switzerland. While no country was accused of manipulating its currency to gain a competitive advantage, 12, including China, were put on Washington’s monitoring list. […]
Shell exits North Sea oilfield project on December 4, 2021Royal Dutch Shell has exited the planned Cambo oilfield project off the Scottish coast because of insufficient financial gain, as energy firms face fierce pressure to switch to greener fuels. Shell, which has a 30-percent interest in the North Sea development, said late Thursday that the investment case was simply “not strong enough”. The decision […]
K-IV water supply project to be completed in Oct 2023 on December 4, 2021The construction work of the Greater Karachi Water Supply Project would start in 3-4 months and would be completed in October 2023. This was informed in a meeting held to review the progress of Greater Karachi Water Supply Project K-IV on Friday. Minister for Planning and Development and Special Initiatives Asad Umer chaired the meeting […]