Bitcoin slips to $47,387 as $200m in options expire on September 18, 2021The cryptocurrency market turned bearish as $200 million in options expired on Friday, with the market capitalisation shedding 3.2 percent to reach $2.21 trillion as of 1350 hours GMT. The price of bitcoin (BTC), the largest cryptocurrency, shed 0.37 percent to reach $47,387. With this decrease in price, the market capitalisation of the biggest cryptocurrency […]
Gold price falls by Rs3,000 per 10gm on September 17, 2021Gold prices dipped around two percent in the international market on Thursday amid a modest pickup in the US Treasury bond yields and dollar’s strength. Gold in the international market was available at $1,760.40 per ounce after shedding $34.70 at 1320 hours GMT. Meanwhile, the price of 10 grams of yellow metal in Pakistan decreased […]
Cotton futures close higher on September 17, 2021Cotton futures closed higher Thursday in daytime trading on the Zhengzhou Commodity Exchange (ZCE). The most active cotton contract for January 2022 delivery gained 195 yuan (about 30.31 U.S. dollars) to close at 17,620 yuan per tonne. On Thursday, the total trading volume for six listed cotton futures contracts on the ZCE was 383,261 lots […]
Wall Street retreats after early boost, closing lower on September 16, 2021US shares reversed course after an early bout of enthusiasm, closing sharply lower on Tuesday despite data indicating inflation pressures are easing. After breaking a five-day losing streak on Monday, the Dow Jones Industrial Average dropped 0.8 percent to finish the day at 34,577.57. The broad-based S&P 500 fell 0.6 percent to close at 4,443.05, […]
Brent nears $75 mark amid supply concerns on September 16, 2021Crude oil prices went up for the fourth straight session on Wednesday amid supply concerns and increase in global demand. At 1305 hours GMT, Brent, the international benchmark for two-thirds of the world’s oil, gained $1.29 (+1.75 percent) to reach $74.89 a barrel. Similarly, the US West Texas Intermediate (WTI) reached $71.80 a barrel, up […]
Asian markets struggle for traction ahead of US inflation data on September 15, 2021Investors trod cautiously in early Asian trade on Tuesday as they awaited US inflation data that could play a key role in determining when the Federal Reserve will start winding down its market-supporting monetary policy. The first gain for Wall Street’s S&P 500 and Dow after a five-day losing streak was not enough to spur […]
Telecom sector attracts $202.34m FDI during 2020-21 on September 14, 2021The country’s telecom sector has attracted Foreign Direct Investment (FDI) of $202.34 million during the Fiscal Year 2020-21, which showed investors’ confidence in the policies introduced by the incumbent government for promotion of this industry. Briefing the media persons about performance of the telecom sector, Chairman Pakistan Telecommunication Authority (PTA) General (R) Amir Azim Bajwa […]
Bitcoin falls to $45,534 as cryptos remain bearish for second day on September 12, 2021The cryptocurrency market remained bearish for the second straight day on Saturday, with the market capitalisation decreasing 0.3 percent to reach $2.18 trillion as of 1315 hours GMT. The price of bitcoin (BTC), the largest cryptocurrency, shed 0.70 percent to reach $45,534. With this decrease in price, the market capitalisation of the biggest cryptocurrency dropped […]
Govt spends Rs49b to upgrade transmission lines on September 11, 2021The incumbent government spent more than Rs 49 billion in up-gradation of electricity transmission lines and during summer as many as 25,000 MW electricity was transmitted through the system, which was only 18,000 MW in 2018- the last year of the PML-N government. Sources told APP on Friday that the previous government did not pay […]
Trade with Afghanistan to be done in rupee: Tarin on September 10, 2021Finance Minister Shaukat Tarin has said that trade with Afghanistan will be done in Pakistani rupee (PKR) as foreign reserves of Kabul have been blocked. Briefing the Senate Standing Committee on Finance, which met with Senator Talha Mehmood in the chair on Thursday, Tarin said that Afghanistan is facing a shortage of dollars as the […]