Business

KARACHI: Domestic gold prices on Wednesday hit a new all time peak of Rs69,600 per tola and Rs59,671 per 10 grams, respectively, up by Rs1,100 and Rs943 from Tuesday. All Sindh Sarafa Jewellers Association (ASSJA) said domestic rates were increased after $16 per ounce rise in global gold price to $1,344. From Jan 2018 till to date, one tola and …

PBPA awarded S. Javaid Anwar top Hand Award By: Raja Zahid Khanzada Texas largest Petroleum organization, The Permian Basin Petroleum Association awarded S. Javaid Anwar the Top Hand Award 2018. The Top Hand award exemplifies the best in all the characteristics of our leaders in the Permian Basin. A Top Hand has not only achieved success in the field, but …

PESHAWAR: Finance Minister Asad Umar has said that Pakistan and PayPal talks were underway to bring online payment giant’s operations in the country. Finance Minister was addressing a ceremony at Chamber of Commerce and Industry in Peshawar on Monday. He also dismissed reports that PTI government the federal government is hindering PayPal’s entry into the Pakistani market. Asad Umar claimed …

ISLAMABAD: Pakistan and China have decided to expedite cooperation in the field of agriculture under China Pakistan Economic Corridor (CPEC) and an important meeting in this regard is expected to be held next month, an official in Ministry of Planning, Development, and Reform said. The official said that the cooperation was being extended with a special focus on boosting cooperation …

ISLAMABAD: Saudi Crown Prince Muhammad bin Salman (MBS), is scheduled to land in Islamabad on Sunday for an overnight stay, would be staying in the Prime Minister’s House while other members of his huge entourage would be lodged in local hotels and the Punjab House. According to sources at Saudi Embassy in Islamabad, Saudi Crown Prince will stay at Prime …

Karachi: Following were the closing rates of foreign currencies in kerb market issued by Forex Association of Pakistan here on Wednesday, February 13, 2019.

KARACHI: Sale of locally assembled cars remained firm in the last seven months amid restriction on non-filers to buy vehicles from July-January, multiple price hikes on account of rupee devaluation and increase in interest rates. Total car sales inched up to 123,391 units in 7MFY19, from 123,356 in same period last fiscal year. On the other hand, January sales showed …

Moody’s Investors Service has changed its outlook for the banking system in Pakistan from stable to negative, the company announced in a press release on Monday. “Over the next 12-18 months, banks in Pakistan will see their credit profiles challenged by their high exposure to the country’s low-rated sovereign debt and a slowing economy,” says Constantinos Kypreos, a senior vice-president …

KARACHI: Overseas Pakistanis remit $12.77bn during the seven months of the current fiscal year up 12 per cent from the $11.38bn received during the same period last year, reported the State Bank of Pakistan on Monday. Major growth was witnessed in the inflows from the US and the UK at 33pc and 22.5pc respectively; however, Saudi Arabia emerged as the …

Pakistan’s trade deficit plunged by 9.66 per cent to $19.26 billion during the first seven months of the current fiscal, as compared to the same period last year. Data released by the Pakistan Bureau of Statistics (PBS) on Monday showed the trade deficit contracted by over $2 billion to $19.264 billion in the July-January period of 2018-19 against a deficit …