Business News | PSX | News Updates from Pakistan Economy

SBP rejects rumors about restrictions on opening LCs for import of crude oil, LNG

The State Bank of Pakistan (SBP) Thursday rejected rumours that the government has imposed restrictions on the opening of Letters of Credit (LCs) or contracts for the import of crude oil, liquefied natural gas (LNG)…

December 2, 2022
Published in Business

Petrol, diesel prices to remain unchanged till Dec 15: Finance Minister

Finance Minister Ishaq Dar on Wednesday announced that the prices of petrol and diesel would remain unchanged for the next fortnight.

November 30, 2022
Published in Business

Pakistan can be interest-free in 5 years: Ishaq Dar

Finance Minister Ishaq Dar Wednesday said the country can become interest-free in five years as stipulated by the Federal Shariat Court (FSC) in its judgement earlier this year.

November 30, 2022
Published in Business

Nepra to reduce K-Electric tariff by Rs2.14 per unit

Residents of Karachi, who have been troubled by exorbitant power bills can expect some relief in their next bill after the national power regulator decided to reduce power tariffs by Rs2.14 per unit for October…

November 30, 2022
Published in Business

Pakistan receives $500m from Asian Infrastructure Investment Bank

Finance Minister Ishaq Dar announced on Tuesday that the Asian Infrastructure Investment Bank (AIIB) had transferred $500 million to the State Bank of Pakistan (SBP).

November 29, 2022
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Ishaq Dar satisfied over sugar availability, production

Federal Minister for Finance and Revenue Senator, Mohammad Ishaq Dar, here on Monday expressed satisfaction over the availability and production of sugar in the country.

November 29, 2022
Published in Business

Pakistan to repay $1bn bond early on Dec 2: SBP governor

State Bank of Pakistan (SBP) Governor Jameel Ahmad on Friday said the country will repay a $1 billion international bond on December 2, three days before its due date.

November 25, 2022
Published in Business

Monetary policy: SBP hikes interest rate to 16% to curtail inflation

The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) jacked up the key policy rate by 100 basis points to 16%, it was announced on Friday.

November 25, 2022
Published in Business

Oil drops as Russian price cap proposal eases tight supply fears

Oil trickled down on Thursday, hovering around two-month lows, as the proposed price cap on Russian oil from Group of Seven (G7) nations was considered higher than the current trading levels, alleviating concerns over tight…

November 24, 2022
Published in Business

Qatar signs world’s ‘longest’ gas supply deal with China

QatarEnergy announced a 27-year natural gas supply deal with China on Monday, calling it the “longest” ever seen as it strengthened ties with Asia while Europe scrambles for alternative sources.

November 22, 2022
Published in Business

Rupee registers back-to-back losses against US dollar

The Pakistani rupee fell for the eighth consecutive day on Tuesday against the US dollar, owing to the unstable political situation and a higher debt profile of the country.

November 22, 2022
Published in Business

Amazon confirms it has begun laying off employees

Amazon confirmed on Thursday that it is laying off staff, after days of rumors that the e-commerce behemoth would become the latest tech giant to unleash a large-scale redundancy plan amid a souring economic environment.

November 18, 2022
Published in Business

World Bank to provide $1.3 billion to Pakistan for emergency, agriculture and housing relief

The World Bank (WB) said on Wednesday that it was planning to provide Pakistan $1.3 billion for emergency, agriculture and housing relief in the wake of catastrophic floods this year, according to a press release…

November 16, 2022
Published in Business

Petrol prices to remain unchanged till Nov 30: Ishaq Dar

Finance Minister Ishaq Dar announced on Tuesday that there would be no change in the prices of petroleum products for the next fortnight till November 30.

November 15, 2022
Published in Business