KARACHI: Pakistan Stock Exchange (PSX) on Monday extended its upward trajectory from the previous week as investors took cue from the election of a new prime minister and upbeat economic data. In the morning, trading began on a robust note, supported by the shrinking of trade deficit by 30.2% year-on-year (YoY) to $14.87 billion for July-February 2023-24 and the fall in the Consumer Price Index
LONDON: Oil prices were little changed on Monday, a day after the widely expected extension of voluntary output cuts through the middle of the year by the OPEC+ producer group. Brent futures were up19 cents to $83.74 a barrelat 1422 GMT after rising 2.4% last week. US West Texas Intermediate (WTI) rose 6 cents to $80.03 a barrel following a 4.6% gain last week. The Organisation of the Petrol
In February 2024, the cement sector witnessed a significant decline of 19.22%, with total dispatches amounting to 3.259 million tonnes (MT), compared to 4.035 MT in the same month of the previous fiscal year. This downturn, as reported by the All Pakistan Cement Manufacturers Association, reflects a notable contraction in both local and export markets. Local cement dispatches in February 2024 s
ISLAMABAD: The Federal Board of Revenue (FBR) has turned down a proposal of the Ministry of Industries that sought to impose 18% general sales tax (GST) on locally manufactured cars across the board, saying it will result in a fall in tax collection as well as revenue loss. The Industries and Production Division was requested to provide its input on the rationalisation of criterion for the impo
KARACHI: Pakistan has significantly expanded the reach of banking services to encompass 60% of the adult population, including 43% female citizens. This achievement comes alongside the introduction and induction of innovative digital banking, underlining the belief that financial inclusion is a fundamental right that aids in alleviating poverty and fostering equitable economic growth. The acces