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Smuggling not responsible for dollar hike | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan Customs is not responsible for curbing smuggling at international borders and its role is limited to cities only, said the Customs Department head of operations on Thursday while again ruling out the role of smuggling in the record high price of dollars in the country. Mukarram Jah, a member of customs operations…
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Price hike: Gold rate climbs to Rs178,800 per tola in Pakistan
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[ad_1] A photo of a jewellery shop in Kerala, India. — AFP/File Gold and silver prices jumped to new highs in Pakistan on Tuesday as the rupee lost further ground against the US dollar, prompted by a liquidity crunch that has forced an increase in safe-haven buying. According to All Pakistan Sarafa Gems and Jewellers Association, price…
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ECC gives go-ahead for sugar export amid ‘fears of price hike’
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[ad_1] Federal Minister for Finance and Revenue Ishaq Dar presided over a meeting of the Economic Coordination Committee (ECC) of the cabinet on December 15, 2022. — PID The Economic Coordination Committee (ECC) Thursday approved a summary presented by the Ministry of National Food Security and Research regarding the export of sugar fulfilling the demand…
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PSX takes a hammering after SBP’s sudden interest rate hike to highest since 1999
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[ad_1] A view of the Pakistan Stock Exchange (PSX) building the main hall in Karachi. — INP/File The Pakistan Stock Exchange (PSX) took a hammering at opening bell Monday morning in reaction to the State Bank of Pakistan’s (SBP) unforeseen hike Friday, while the market was closed, in the interest rate to 16% — the…
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PSX dives 900 points after surprise interest rate hike | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange (PSX) plunged 2% (or almost 900 points) to close to 42,000 points at around 1:8pm on Monday, as traders aggressively pulled out investment in panic after the central bank unexpectedly hiked the key policy rate by 100 basis points to over two decades high at 16%. The development stands negative…
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US stocks fall as BoE follows Fed with big rate hike
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[ad_1] US stocks fall — AFP/file NEW YORK: Wall Street stocks fell early Thursday after the Bank of England followed the US Federal Reserve in enacting a big interest rate hike to combat inflation. The BoE said it was lifting borrowing costs by 0.75% percentage points to 3% in its biggest rate hike since 1989.…
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Oil prices rise before expected Fed rate hike | The Express Tribune
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[ad_1] NEW YORK: Oil prices rose on Wednesday before an expected rate hike by the Federal Reserve, supported by another decline in US oil inventories as refineries picked up activity ahead of the winter heating season. Brent crude rose $1.74, or 1.8%, to $96.39 as of 1601 GMT, while US West Texas Intermediate (WTI) crude…
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Dollar extends gains on Fed rate hike expectations
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[ad_1] The dollar is up sharply against other currencies as the Federal Reserve presses ahead with sharp interest rate hikes to fight inflation. — AFP HONG KONG: The dollar extended gains Friday on expectations the Federal Reserve will press ahead with its programme of bumper interest rate hikes for the rest of the year. Traders…
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NEPRA approves Rs3.21 per unit hike in power tariff
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[ad_1] The National Electric Power Regulatory Authority office. — The News/File ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) on Friday approved a hike in the power tariff by Rs3.21per unit, enabling Ex-WAPDA Discos (XWDISCOSs) to collect an additional Rs94 billion from consumers. NEPRA increased power tariff on account of quarterly Fuel Charges Adjustment…
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NEPRA approves Rs7.9 hike in fuel adjustment for May
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[ad_1] The National Electric Power Regulatory Authority approves Rs7.9 per unit hike for ex-Wapda distribution companies (Discos) for May. — NEPRA website/ File ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) on Monday approved an additional fuel cost adjustment (FCA) of Rs7.9 per unit for ex-Wapda distribution companies (DISCOS) for the month of May. The…
