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Govt reiterates pursuing discounted Crude Oil from Russia
ISLAMABAD: Minister of State for Petroleum Musadik Malik said on Friday that Russian officials had “clearly” told Pakistan they would provide discounted Crude Oil at the same rates as other countries or even lower.
“We are taking talks…
LSM plunges by 7.75% amid economic uncertainty
KARACHI: Large-Scale Manufacturing (LSM) declined by 7.75 per cent year-on-year in October, with the textile, machinery and equipment, and automobiles sectors shrinking, data shared by the Pakistan Bureau of Statistics (PBS) showed on…
Financial experts disagree on the risk of default.
KARACHI: The national economy is either still in the red or not in danger, according to two of the nation's financial managers, both past and present.
Ishaq Dar, the country's finance minister, argued that the country's performance…
Oil rises on US supply concerns, expectations for returning China…
Tuesday had seen increase in oil prices for a second day as a major pipeline supplying the United States, the world's largest consumer of crude, remained closed and on hopes that demand will increase when Covid limits are loosened in China,…
Chilean company granted permission to leave Reko Diq for $900m
ISLAMABAD: The government on Sunday approved a payment of more than $900 million to the Chilean company Antofagasta over six years in order to terminate the Reko Diq project, following the Supreme Court's approval of a settlement agreement…
SPI rises by 30.66% due to expensive food
ISLAMABAD: According to data provided by the Pakistan Bureau of Statistics (PBS) on Friday, the weekly inflation, as assessed by the Sensitive Price Index (SPI), reported a year-over-year increase for the combined income group for the…
Pakistan and UAE officials have a joint oil import arrangement
ISLAMABAD: Pakistan has forwarded a draught of an intergovernmental agreement (IGA) to the United Arab Emirates for the import of mogas in a government-to-government format between Pakistan State Oil (PSO) and Abu Dhabi National Oil Company…
Auto financing falls for the fourth month in a row
KARACHI: The amount of outstanding auto loans decreased for the fourth consecutive month at the end of October, according to data released on Monday by the State Bank of Pakistan (SBP).
At the end of last month, outstanding auto…
Oil prices rise as OPEC+ maintains output targets and China…
Oil prices rose on Monday after OPEC+ nations maintained their output targets ahead of a European Union ban and a price cap on Russian crude.
At the same time, in a positive sign for fuel demand, more Chinese cities relaxed Covid-19…
Gold rises for a second day as a weak currency increases appeal
KARACHI: The price of gold in Pakistan increased on Tuesday as the weaker rupee increased demand for the precious metal on both domestic and foreign markets.
The price of gold increased by Rs 300 per tola and Rs 258 per 10 kilos to settle…