Business

KARACHI: The Sindh High Court (SHC) on Friday directed the port authorities to permit berthing of vessels of a leading cement/clinker exporting firm and some oil seeds importers as per ports rules and policy till Dec 23. A single bench of the SHC headed by Syed Zafar Ahmed Rajput also issued notices to the port authorities and other authorities concerned …

KARACHI: The central government debt increased by Rs652 billion (2.8 per cent) to Rs23.934 trillion by the end of October compared to Rs23.282tr in June earlier this year, latest data released by the State Bank of Pakistan showed on Friday. However, the external debt decreased by Rs255bn to Rs11.569tr in October. The external debts in June was at Rs11.824tr. The …

KARACHI: Stocks exten­ded the bullish spell on Friday with the KSE-100 index recording gains of 164.56 points (0.39 per cent) to settle at 42,470.40. The index made intra-day high by 322 points. Although select stocks on the technology and refinery sectors continued to show price flare up, the exploration & production sector also saw substantial rise in the stock price …

LAHORE: A vital medicine used for heart-related chest pain (angina) is short in the market across Punjab. Manufactured by a multinational pharmaceutical company, the life-saving medicine, Angised (0.5mg), was the only available remedy in an emergency. A patient feeling chest pain/heart pain (angina) is suggested to keep it under the tongue to prevent risk to life. Senior cardiologists and surgeons …

ISLAMABAD: In its supplement to the Asian Development Outlook, the Asian Development Bank (ADB) said on Thursday that economic activity in South Asia has started to normalise from the third quarter, and Pakistan’s economy is recovering, particularly in manufacturing and construction. The earlier South Asia forecast for 6.8 per cent contraction is upgraded to 6.1pc in line with an improved …

KARACHI: The State Bank reported on Thursday that the Roshan Digital Account (RDA) on Dec 9 received $7.7 million – the highest amount in a single day since the initiative was taken. “Yesterday, inward remittances from overseas Pakistanis into Roshan Digital Account rose to $7.7 million, their highest ever daily amount,” the State Bank tweeted on Thursday. To date, total …

ISLAMABAD: The Privatisation Commission (PC) on Thursday approved transaction structure for the privatisation of the Pakistan Steel Mills (PSM) and decided to present it to the Cabinet Committee on Privatisation (CCoP) for approval. The meeting discussed the PSM’s privatisation structure in a holistic manner and was chaired by Privatisation Minister Mohammadmian Soomro. The meeting was also attended by industries minister, …

ISLAMABAD: The Intellectual Property Organisation (IPO) Pakistan has filed an application against India’s bid to obtain exclusive Geographical Indication (GI) tag for basmati rice in the European Union (EU). IPO Pakistan has filed the opposition under Article 51 of the Regulation (EU) No 1151/2012 through a Brussels-based international law firm. Commerce adviser Abdul Razak Dawood confirmed the development in a …

ISLAMABAD: The legal mobile phone imports increased by more than 90 per cent since the implementation of Device Identification Registration and Blocking System (Dirbs) in 2018. The Pakistan Telecom­munication Authority (PTA) announced that the import of mobile devices via legal channels increased to 28.02 million sets in 2019 from 17.2m in 2018, while thus far in the ongoing calendar year …

KARACHI: Stocks bou­nced back on Wed­nesday as the KSE-100 index recorded gains of 102.2 points (0.24 per cent) and closed at 42,204.03. Investors took fresh positions in technology, cement, chemical and selected banking stocks while exploration & production sector also turned green in response to an uptick in the international crude prices. The market seemed to discount any major disruptions …