Business

LONDON: Britain has received a surge in job searches from overseas during the past year, partly reflecting a post-Brexit relaxation in work visa rules for non-European Union nationals, figures from recruitment website Indeed showed on Tuesday. A record 5.5 per cent of searches for British jobs on Indeed’s website in June came from potential applicants outside the country, up from …

ISLAMABAD: Despite a 26pc increase in base uniform national tariff with effect from July 1, there appears to be no respite in sight for power consumers as ex-Wapda distribution companies (Discos) have sought permission to extract almost Rs30 billion more from their subscribers next month. Through their commercial agent — the Central Power Purchasing Agency (CPPA) — the discos have …

KARACHI: The rupee slid 0.63 per cent to a record low of Rs299 against the dollar in the interbank market on Tuesday, exten­ding losses for the third session, the State Bank of Pakistan data showed. However, market sources said the dollar was trading higher than the official rate. The rupee logged its previous record low of 298.93 on May 11, …

KARACHI: The Pakistan Stock Exchange (PSX) told investors on Tuesday that two brokerage houses have converted into the category of Trading-Only Securities Broker. The conversion of Progressive Securities Ltd and CMA Securities Ltd follows a string of similar transitions by about 52 PSX brokers under the new broker regime introduced by the Securities and Exchange Commission of Pakistan (SECP). Stockbrokers …

KARACHI: Share prices witnessed a session of sideways movement on the Pakistan Stock Exchange amid a lack of clear market direction on Tuesday, said Topline Securities. Stocks closed on the lower side because of investors’ concerns about a slump in the rupee’s value against the dollar coupled with economic uncertainty, according to Arif Habib Corporation analyst Ahsan Mehanti. The rupee fell 1.88 …

The Pakistani rupee fell by Rs1.88 against the US dollar during interbank trade on Tuesday, extending its losses from the previous week. The greenback was changing hands in the interbank market at a record Rs299.01 at closing.     In the open market, the dollar was changing hands for Rs306, according to the Exchange Companies Association of Pakistan. The local …

KARACHI: Shares listed on the Pakistan Stock Exchange registered a modestly positive opening on Monday before succumbing to a selling spree. Topline Securities said a number of unfavourable factors kept the index of representative shares down throughout the day. The current account, which was in surplus for four consecutive months, registered a deficit of $0.8 billion in July, hurting sentiments …

KARACHI: HR startup Paismo has raised a seed round of $1.3 million, which takes its total funding to date to $1.5m, the company said on Monday. Speaking to Dawn, Paismo co-founder and CEO Rebecka Zavaleta said the start-up helps businesses address HR challenges like managing employees, keeping track of their attendance and performance, providing them with benefits and processing their payroll. …

KARACHI: Unprecedented food prices amid squeezing incomes have already deprived the majority of households to afford decent breakfast, a fresh hike in tea rates both branded and loose would further make it difficult to manage a cup of tea. Packers and traders on Monday shocked consumers with Rs100 hike in 900-gram branded packs and around Rs200 per kg in loose …

ISLAMABAD: The export of sugar rose by an astonishing 100 per cent in the first month of the current fiscal year despite soaring retail prices, showed data compiled by the Pakistan Bureau of Statistics on Monday. As consumers grapple with high sweetener prices at home, sugar exports in July stood at 5,542 tonnes against no exports in the same month …