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90% of Pakistan’s currency is hoarded, based on an FBR…
ISLAMABAD: According to an Federal Board of Revenue (FBR) member discussing the board's opinion, roughly 90% of the dollars are being hoarded in Pakistan, while just 10% are being smuggled out of the country.
Mukarram Jah Ansari, an FBR…
Deal involving Chinese business and Afghan Taliban for oil…
KABUL: The acting mining minister announced on Thursday that Afghanistan's Taliban-run government will sign a contract with a Chinese business to produce oil from the Amu Darya basin in the northern part of the nation.
Officials said at…
Oil prices rise $1 on China’s reopening optimism
Oil prices rose as much as $1 on Friday, extending gains from the previous trading session on hopes of a China demand boost and after data showed lower fuel inventories in the United States following a winter storm that hit during the…
Food prices push weekly inflation to 30.6%
ISLAMABAD: Short-term inflation measured by the Sensitive Price Index (SPI) reached 30.6 per cent year-on-year in the week ending on January 5, up from last week’s 29.3pc, as food prices continue to remain high.
Data released by the…
Millat Tractors halts production over reduced demand, cash flow…
LAHORE: Pakistan’s biggest agricultural machinery manufacturer, Millat Tractors Limited, said on Thursday that it would remain closed from January 6 (tomorrow) till further notice, citing reduced demand and cash flow problems.
In a…
Oil rebounds after biggest drop in decades at start of year
LONDON: Oil rebounded on Thursday after posting the biggest two-day loss for the start of a year in three decades with the shutdown of a US fuel pipeline providing support, though economic concerns capped gains.
Big declines in the…
ICCI invites Pakistani Diaspora to explore JVs and Investment in…
ISLAMABAD: The UK and USA are major trading partners of Pakistan and Pakistan wants to further strengthen its trade and economic ties with these countries to achieve beneficial outcomes for its economy.
This was said by Faad Waheed,…
PIA introduces package for intending Umrah pilgrims from China
BEIJING: Pakistan International Airlines (PIA) has introduced a special package to facilitate Pakistani and other Muslims pilgrims who plan to travel from China to Saudi Arabia to perform Umrah.
Under the package, the pilgrims travelling…
CPI inflation rises to 24.5% during last month
ISLAMABAD: Annual Inflation measured by the Consumer Price Index (CPI) was recorded at 24.5 per cent in December, compared to 23.8pc in the previous month, as food and transport costs continued to remain high, data shared by the Pakistan…
PSX gains 615 points on IMF hopes, year-end buying
KARACHI: Shares at the Pakistan Stock Exchange (PSX) continued to rally on Friday, with analysts attributing the uptrend to year-end buying and expectations of completion of the International Monetary Fund’s (IMF) ninth review which would…