Business News
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Gold hits new high of Rs170,900 per tola in Pakistan on safe-haven buying
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[ad_1] An image of gold necklace showcased in a jewellery shop. — AFP/File Amid constant depreciation of rupee against the US dollar, gold and silver continued to shined in Pakistan, rising to their all-time high levels on Wednesday. Gold prices registered a meagre gain of Rs100 per tola and Rs86 per 10 grams to settle…
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Russia replaces Iraq as top oil supplier to India in Nov | The Express Tribune
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[ad_1] NEW DELHI: Russia has for the first time emerged as top oil supplier to India replacing Iraq as refiners last month snapped up oil from Moscow fearing a price cap from Dec. 5 could hit supplies and choke payment avenues, data obtained from trade sources showed. India’s oil imports from Russia rose for the…
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PM Shehbaz dismisses bankruptcy talk | The Express Tribune
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[ad_1] ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday said that “those who wish to turn Pakistan into Sri Lanka will be disappointed as always” as he shunned rumours of the country’s economy deteriorating further. PM Shehbaz made these remarks while presiding over a meeting of the government’s economic team and vowed to “save” the economy…
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Path Pakistan is on might take towards default: Miftah Ismail
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[ad_1] Former finance minister Miftah Ismail speaks during Geo News’ programme “Aaj Shahzeb Khanzada Kay Saath” on December 13, 2022. — YouTube Screengrab via Geo News Former finance minister Miftah Ismail Tuesday claimed that chances of Pakistan heading towards default have increased, urging the incumbent government to take steps to avert the looming threat. Speaking during…
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MG Motors kick-starts pre-booking for its first CKD model in Pakistan
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[ad_1] MG Motors’ HS Essence. — tyrepoint MG Motors Pakistan has initiated pre-bookings for its 1.5L Turbo Engine MG HS Essence after acquiring the manufacturing licence. MG Motors General Manager Syed Asif Ahmed confirmed the development and told Geo.tv that the vehicles will be delivered in January 2023. Previously, the company relied on the import…
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Gold races back to fresh high of Rs170,800 per tola in Pakistan
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[ad_1] A customer holds gold jewellery at a jewellery showroom on May 3, 2022. — AFP/File In line with a massive surge in the international market, the gold price jumped by Rs2,000 per tola in Pakistan, surpassing a major threshold of Rs170,000 per tola for the first time in the country. Earlier, the All Pakistan…
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CPEC fruit: 1,320MW project initiated | The Express Tribune
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[ad_1] ISLAMABAD: As Pakistan’s energy import bill touched an exorbitant $27 billion, Prime Minister (PM) Shehbaz Sharif underlined the need to explore indigenous resources including hydel, solar, air and coal to produce cheap electricity. Federal Minister for Power Khurram Dastgir Khan stated that a 1,320MW project has been initiated by the Shanghai Electric Group in…
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Startup funding down to $350m | The Express Tribune
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[ad_1] KARACHI: Although Pakistani startups attracted a significant amount of investment in the 11 months of 2022, the investments took a downtrend with the passing of every quarter due to uncertain macroeconomic conditions and increasing political turmoil in the country – distracting investors from signing big cheques. Speaking to the Express Tribune, Alpha Beta Core…
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Rupee continues to fall unabated against dollar
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[ad_1] The currency dealer is counting Rs500 notes. —AFP/File The Pakistani rupee continued to register losses against the dollar for the seventh consecutive session in the interbank market as investors await foreign financing and development on the ninth review of the International Monetary Fund (IMF). The local currency closed at Rs224.7 after a meagre decline…
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Saudi cash finance soon: Dar | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan is hoping to conclude talks with Saudi Arabia soon on financial help for the country, Finance Minister Ishaq Dar said on Monday. Dar also told a news conference that the International Monetary Fund (IMF) had asked Pakistan for more information to finalise its ninth review. “We hope that we will soon conclude…
