Business News
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Iranian oil gains popularity in Pakistan amid soaring inflation
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[ad_1] A vendor waits for customers to buy petrol from his roadside setup in Lahore on January 14, 2023. — APP/File Iranian oil, which is being sold at considerably cheaper rates, has been gaining popularity in Pakistan in recent months…
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Apple’s second quarter earnings beat market buzz as iPhone sales boom
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[ad_1] Customers wait in front of an Apple store in Munich. —AFP/File Tech giant Apple on Thursday reported second-fiscal quarter earnings, beating Wall Street buzz, mostly supported by stronger-than-expected iPhone sales. The company reported a profit of $24 billion and…
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IMF review to conclude after Pakistan’s financing in place
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[ad_1] The International Monetary Fund’s logo. — AFP/File As Pakistan seeks to secure crucial International Monetary Fund (IMF) funding to avoid an economic collapse, the lender said it is working with the government to conclude the ninth review of the…
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Gold rate declines slightly from all-time high
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[ad_1] An undated image of gold bangles. — AFP After reaching another all-time high a day earlier, the rate of gold declined slightly in Pakistan Friday in line with developments in the international market. The rate of gold (24 carats)…
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Pakistan bound to repay $3.7 billion in May-June: Fitch Ratings
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[ad_1] A representational image. — PNGfind.com As the government struggles to secure a bailout from the International Monetary Fund (IMF), Fitch Ratings on Friday revealed that Pakistan faces a total of $3.7 billion of debt payments in the May-June period, Bloomberg…
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Forex reserves fall by $6m to $4.46b | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank fell by 0.12% on a week-on-week basis to $4.46 billion, according to data released by the State Bank of Pakistan (SBP) on Thursday. On April 28, 2023, the SBP’s…
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Gold maintains record-breaking spree | The Express Tribune
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[ad_1] KARACHI: Gold hit a new all-time high at Rs225,300 per tola (11.66 grams) on Thursday in line with the global trend amid talk of likely default by the United States. Talking to The Express Tribune, AA Gold Commodity Director…
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Energy conservation to help save $6.4b | The Express Tribune
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[ad_1] ISLAMABAD: The government has targeted to save $6.4 billion by implementing energy conservation measures under the National Energy Efficiency and Conservation Policy (NEECP) 2023. The Cabinet Committee on Energy, chaired by Prime Minister Shehbaz Sharif, has recently approved the…
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SBP-held reserves register small decrease
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[ad_1] A dealer counts US currency notes at an exchange in Karachi on October 9, 2018. — AFP/File The State Bank of Pakistan’s (SBP) foreign exchange reserves saw a minor drop during the week ending April 28, as the country…
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FM assures Russia’s Lavrov of bolstering energy cooperation
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[ad_1] Foreign Minister Bilawal Bhutto-Zardari (centre left) meets his Russian counterpart, Sergei Lavrov (centre right), in Goa, India, on May 4, 2023. — APP Foreign Minister Bilawal Bhutto-Zardari has assured his Russian counterpart Sergei Lavrov of bolstering cooperation between the…
