market
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Curbs on black market can push remittances to $50b | The Express Tribune
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[ad_1] LAHORE: Foreign remittance service providers have voiced optimism that Pakistan’s remittances can surpass $50 billion per annum, if authorities restrain the black market, which they believe constitutes nearly 80% of the total market. They point out the black market or illegal ways of sending remittances, commonly known as Hundi and Hawala in Pakistan, are…
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Rupee sinks to new low at 308 in open market | The Express Tribune
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[ad_1] KARACHI: Pakistani currency on Tuesday sank to a new record low at Rs308 against the US dollar in the open market, down 1%, or Rs3, from the previous day’s close, according to the Exchange Companies Association of Pakistan. Consequently, the gap between exchange rates in the open and inter-bank markets widened to a historic…
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Local, global solar market trends | The Express Tribune
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[ad_1] ISLAMABAD: There has always been a problem in Pakistan’s energy sector. Earlier, there were load-shedding issues due to generation capacity limitations. Now, there is capacity surplus causing circular debt. There is also higher fuel prices issue and lower transmission capacity and its discontinuities. Alternative projects were delayed due to high capacity payment liabilities. Now,…
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Rupee races to 300, trades at new low of 299 per dollar in interbank market
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[ad_1] An undated image of a currency dealer counting Rs500 notes. — AFP The rupee tumbled to a record low as the cash-strapped nation continues to grapple with the political turmoil which threatens to spiral into a fullblown crisis. In the interbank market, the local unit plunged Rs8.78, or 3.02%, against the US dollar on…
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OGRA opens up LNG market | The Express Tribune
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[ad_1] ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has set a transportation tariff for liquefied natural gas (LNG) shippers in an attempt to open up the market for private sector. At present, public gas utilities have a monopoly in the LNG market. In a statement, Ogra said that under its Gas Third Party Access…
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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 revenue of $94.8 billion in the first quarter of this year. “We are pleased to…
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Gold prices in Pakistan ease as market awaits clear direction
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[ad_1] An undated image of a gold set displayed at a jewellery store. — AFP/File Gold dropped nearly 1% in Pakistan on Saturday as investors look for a clear direction as the rupee hold ground against the US dollar fading the shine of the yellow metal. According to the data released by All-Pakistan Sarafa Gems…
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Gold bounces back in line with international market
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[ad_1] An undated image of gold bars. — AFP Gold price in Pakistan regained its shine on Saturday as the rate rose over Rs1,000 in the local bullion market owing to a significant surge in the international market. According to All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) rose by…
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Rupee weakens against dollar in interbank market
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[ad_1] A representational image of a currency exchanger counting dollar notes. — AFP The Pakistani rupee slipped down against the US dollar in the interbank market on Thursday. After depreciating by Rs2.88 against the greenback, the local currency changed hands at Rs282 during intraday trade around 10:40am. General Secretary Exchange Companies Association of Pakistan (ECAP)…
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Rupee gains further ground against dollar in interbank market
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[ad_1] A foreign currency dealer counts US dollars at a shop in Karachi, Pakistan, May 19, 2022. — AFP/ file The Pakistani rupee further strengthened against the US dollar in the interbank market for the second consecutive trading session on Monday. As the greenback lost Rs3.46 against the rupee, the local currency changed hands at…
