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Current account deficit narrows 39%
Pakistan’s current account deficit – the gap between foreign expenditures and income – narrowed 39% month-on-month to $623 million in April on the back of historic high workers’ remittances and a reduction in the import bill.
“Current…
Rupee sinks to Rs194 against US dollar
Business Reporter
KARACHI: The depreciation of the Pakistan Rupee against the US dollar continued on Monday as the rupee sunk to a historic low of Rs194 against the greenback in the inter-bank market.
The rupee had closed at Rs192.53…
Tech firm cancels book-building process
KARACHI:
A software company, operating in Pakistan and Germany, has announced to cancel its book-building process for the listing at Growth Enterprise Market (GEM) board at the Pakistan Stock Exchange (PSX).
The announcement from…
Rupee crosses 190 vs US dollar
Pakistani currency maintained its record breaking spree, as it surpassed a major barrier of Rs190 against the US dollar for the first time in the inter-bank market mainly owing to political and economic instability in the country.
The…
Govt to give fertiliser subsidy directly to farmers
The government has decided to pay fertiliser subsidy directly to farmers through the Ministry of National Food Security and provincial governments in an effort to reduce prices, which have skyrocketed and led to less-than-required…
Committee formed to probe causes of cyberattacks
ISLAMABAD:
All government departments should shift their data to a safe and secure system of National Telecommunication Corporation (NTC), said Federal Minister for IT and Telecommunication Syed Aminul Haque.
Pakistan has faced…
Dollar touches all-time high of Rs190 as PSX sheds 500 more…
Business Reporter
KARACHI: Pakistani currency hit a new all-time low of Rs190 against the US dollar in intra-day trade in the interbank market on Wednesday.
Besides, the Pakistan Stock Exchange (PSX) lost over 500 points.
The…
PTA opposes banning cryptocurrencies
ISLAMABAD:
The Pakistan Telecommunications Authority (PTA) has expressed concerns over the decision to ban the trading of cryptocurrency in the country.
Earlier, the State Bank of Pakistan (SBP), Securities and Exchange Commission of…
6-month KIBOR hits a 13-year high at 14.1%
During the FY22, the six-month KIBOR has jumped by 641bps.
Arif Habib Limited data shows 14.1% is the highest since February 2009.
Increase comes on back of rising risks of credit growth and economic contraction due to surging borrowing…