Business

kas Stocks continued their recovery on Monday with the KSE-100 index recouping another 978.51 points (2.23 per cent) on the first trading day of the week following an upsurge in world markets on increasing bets on faster economic recovery. At the close of the day, the index settled in the green at 44,766.59. The benchmark index opened at 43,788.08 points, …

ISLAMABAD: An Islamabad-based technology startup has raised $1.4 million from Silicon Valley investors, reflecting the growing tech ecosystem of Pakistan. The round was led by Indus Valley Capital and also saw participation from several renowned global investors such as billionaire investor Tim Draper, Hustle Fund Ventures and other well-known angel investors from Silicon Valley. RemoteBase capitalised on the pandemic and …

KARACHI: The dramatic decline in stock prices in the first four days of the outgoing week was astonishing. The KSE-100 index plunged by 2,049 points, or 4.5 per cent, to settle at 43,788 points at the end of the week. A relief rally on Friday recovered 1,008 points, though it could not wipe off the blemish of the worst weekly …

KARACHI: Lack of charging infrastructure network along highways/motorways has been a key hurdle restricting plying of costly electric vehicles (EVs) on inter-city routes in Pakistan. Owners of these vehicles have not been able to test the technology on long routes by driving to other cities due to battery limitations and unavailability of charging points. Millat Tractors Ltd (MTL) Executive Director …

KARACHI: The Karachi Port Trust handled 957,548 tonnes — 664,690 tonnes of import and 292,858 tonnes of export — from March 8-12. The imported containerised cargo stood at 269,635 tonnes followed by 213,604 tonnes of oil and liquid, 124,477 tonnes of bulk cargo, 50,505 tonnes of wheat, 3,704 tonnes of canola and 2,765 tonnes of DAP. In exports, containerised cargo …

ISLAMABAD: With the grant of entry of China’s largest automobile manufacturer by the Board of Investment (BoI), the manufacturing of electric vehicles will start in the country’s first private Special Economic Zone (SEZ) in Raiwind. During the SEZ Committee meeting on Friday, the BoI approved the Zone Enterprise in order to facilitate the JW-SEZ China-Pakistan SEZ in Raiwind to manufacture …

KARACHI: For the second year in a row, the Sindh Revenue Board (SRB) is likely to miss its collection target set for the current fiscal year in the wake of the National Command Operation Centre decision to re-impose a number of coronavirus restrictions due to the fear of the third wave of Covid-19 in the country, it emerged on Saturday. …

  LAHORE: A leading automobile company has urged the government to also bring imported vehicles under the ambit of the newly promulgated ordinance that limits second sale of vehicles within 90 days of the invoice and one who does this will be charged a fine based on engine capacity. “The apparent reason to introduce this amendment is to discourage on-money …

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Friday approved an aggregate Rs2.73 per unit increase in K-Electric’s power rates for four quarterly adjustments (April 2019 to March 2020) but this will not affect the consumers. “Since the federal government has a uniform tariff policy across the country including K-Electric consumers, therefore, the impact of quarterly adjustments would be …

ISLAMABAD: Weekly infl­ation for the combined group in the period ended on March 11 fell by 0.57 per cent on the back of a slight decline in prices of essential food items, data released by the Pakistan Bureau of Statistics (PBS) on Friday showed. Since January, an upward movement in the prices of essential kitchen items was noted despite the …