Dollar slips to 172.26 as rupee recovers for second day on October 29, 2021Pakistani rupee continued recovery against the US dollar in the inter-bank market for the second straight day on Thursday with the local unit gaining 52 paisas (+0.30 percent) on the back of the Saudi package. According to the State Bank of Pakistan, the US dollar opened at Rs172.78 and closed at Rs172.26. Within the open […]
PSWP to cut cost of doing business on October 29, 2021Pakistan Single Window Programme (PSWP) Project Director Muhammad Imran Khan Mohmand said on Wednesday that PSW Programme would reduce the cost of doing business and minimise the interface between the taxpayers and collectors. He was addressing a workshop on PSWP organized by All Pakistan Textile Mills Association (APTMA) Northern Zone for its members at APTMA […]
Bitcoin slips to $58,990 as crypto market sheds 5.6pc on October 28, 2021The cryptocurrency market faced a bearish trend on Wednesday, with the market capitalisation shedding 5.6 percent to fall to $2.60 trillion as of 1340 hours GMT. Bitcoin, the largest cryptocurrency, shed 5.06 percent to reach $58,990. With this decrease in price, the market capitalisation of the biggest cryptocurrency has reached 1.11 trillion. Likewise, ether (ETH) […]
Rupee in free fall with six new lows in six sessions on October 27, 2021There was no let-up in Pakistani rupee’s depreciation against the US dollar for the sixth consecutive session on Tuesday, as the local currency fell to a new all-time low of 175.27 amid delay in resumption of $6 billion Extended Fund Facility (EFF) by the International Monetary Fund (IMF). According to the State Bank of Pakistan, […]
Pharmaceutical exports surge 17pc m-o-m in September on October 27, 2021The exports of pharmaceutical goods surged 17.09 percent on a month-on-month basis to $22.621 million during September as compared to August. According to the Pakistan Bureau of Statistics (PBS), the exports of pharmaceutical goods surged 7.36 percent to $73.428 million during the first quarter (July-September) of the current fiscal year (2021-22) as compared to the […]
Most Asian markets rise after Wall St record, earnings in focus on October 27, 2021Asian markets mostly rose on Tuesday following fresh records on Wall Street, with healthy corporate earnings overshadowing ongoing concerns about inflation, while progress in Washington on Joe Biden’s big-spending economic plans also provided support. The S&P 500 and Dow both ended at new peaks, with tech firms lifted by a surge in electric car maker […]
Gold price rises to Rs101,200 per 10g amid inflationary fears on October 26, 2021Gold price remained on an upward trajectory on Monday, as the US dollar kept losing ground against its main competitors. Gold in the international market was available at $1,805.10 per ounce after gaining $12.50 at 1255 hours GMT. Gold price made a sustained move above $1,800 amid dollar’s weakness, while market sentiment remained mixed. Meanwhile, […]
Biden’s solar plan to benefit and challenge power producers: Fitch on October 26, 2021The Biden administration’s Solar Futures Study (SFS) could set a foundation for legislations that facilitate a ramp-up in solar energy generation, which would benefit solar power companies’ toplines, says Fitch Ratings. However, rising costs, trade wars and resiliency issues are interim hurdles for solar producers to meet growing demand, added Fitch in a report. The […]
OGDCL’s LPG production increases by 9pc, crude oil 2pc on October 25, 2021The Oil and Gas Development Company’s (OGDCL)’s production of Liquefied Petroleum Gas (LPG) witnessed a nine percent increase and crude oil 2 per cent during the last fiscal year. “Despite natural decline at various mature producing fields, the company’s average daily net LPG production clocked in at 803 tons portraying an increase of 9% largely […]
Bitcoin falls to $60,658 as cryptos trade mixed on October 25, 2021The cryptocurrency market traded mixed on Sunday, with the market capitalisation shedding another 1.2 percent, fourth in a row, to reach $2.64 trillion as of 1330 hours GMT. Bitcoin, the largest cryptocurrency that hit $66,976 on Wednesday last – the highest ever level – faced further correction. Bitcoin shed 1.32 percent to reach $60,658. With […]