Business

ISLAMABAD: Inflation eased slightly to 8.9 per cent in October, from 9pc in September on the back of a slight decline in prices of fresh fruits and vegetables, data released by the Pakistan Bureau of Statistics showed on Monday. Higher food prices continued to exert upward pressure on inflation as prices of food group rose 16.53pc year-on-year and 3.9pc month-on-month …

The benchmark KSE-100 gained as much as 1,387 points in intra-day trade on Tuesday as an uptick in oil prices, rally in international markets coupled with the lower-than-expected inflation figures in October lifted the overall market sentiment. “The market witnessed a relief rally after the recent bloodbath. Sentiments improved as both international oil prices and international markets recovered sharply overnight,” …

The United States dollar fell to a six-month low against the rupee in the interbank market, losing 14 paisas to reach Rs159.97, according to data released by the State Bank of Pakistan on Tuesday. The last time the dollar stood at similar levels was earlier this year on May 8, when it was changing hands at Rs159.97 in the interbank …

by: Raja Zahid Khanzada Dallas:Muslim Democratic Caucus of Texas ran a full campaign in Texas. The group ran final robocall messages to Muslim community in Texas in multiple languages. According to the details Muslim Caucus ran its last campaign on the election evening where they sent phone calls to 16,000 Muslim voters who have still to vote. Muslim Democratic Caucus …

Stocks on the Pakistan Stock Exchange plunged once again on Monday, an almost identical trajectory to the one witnessed on the previous trading day (Thursday), as rising Covid-19 cases in the country and around the world rattled investor sentiment, pushing the benchmark index down approximately 1,000 points within an hour of the opening bell. The KSE-100 index was down 963.74 …

The use of social media is growing at an exponential rate globally and Pakistan is no exception. In fact, in Pakistan, the requirements for social media usage are near perfect. About 65 per cent of our population is under 35 years and 50pc is under 22 years. This means a tech-savvy, app-driven youth cohort, whose principal medium of dealing with …

The economy is in one of the most critical phases. Confronted with a public health challenge caused by a global pandemic, the country has just had a fiscal year with economic contraction. The current fiscal year remains under a cloud. Global economic conditions are still precarious. Hence, there are doubts about inflows from external sources, such as exports, remittances and …

ISLAMABAD: The Auditor General of Pakistan (AGP) has pinpointed more than Rs1.543 trillion worth of malfeasance and mismanagement of public funds by public sector entities, including the Petroleum Division and its subordinate oil and gas companies, during the fiscal year 2018-19. In an audit report, the AGP noted with serious concern the management weaknesses in the Ministry of Energy — …

Mobile application TAG has become the latest fintech startup to get approval from the State Bank of Pakistan (SBP) to operate as an Electronic Money Institution (EMI) in Pakistan, a press release issued by the company said on Monday. According to the company, TAG is a ‘super app’ which would allow its users to “open mobile wallets and get debit cards”. Users …

ISLAMABAD: Revenue collection in October stood at Rs333 billion, missing the target of Rs352bn by 5.4 per cent despite 2pc year-on-year increase from Rs325bn, provisional data showed on Saturday. On a cumulative basis, the Federal Board of Revenue (FBR) collection in the first four months of this fiscal year surpassed the target despite missing the monthly target in October. During …