Asian stocks rose on Thursday after US inflation data came in as expected, dampening expectations of further near-term Federal Reserve rate hikes, while oil held near $80 a barrel as Washington and Tehran remained deadlocked over efforts to end the Gulf war. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.97%, led by South Korean shares jumping 4.4%. Japan’s Nikkei gained 1.8
Gold prices in Pakistan increased on Wednesday in line with their gain in the international market. In the local market, gold price per tola reached Rs463,936 after a gain of Rs4,200 during the day. Similarly, 10-gram gold was sold at Rs397,750 after it increased by Rs3,601, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Tuesday, gold price p
Pakistan plans to establish an automotive processing zone on 150 acres at Port Qasim, Karachi, with the facility to be expanded in phases according to market demand, announced Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry on Wednesday. The decision was taken at a meeting attended by Port Qasim Authority (PQA) Chairman, Rear Admiral (Retd) Syed Moazzam Ilyas and members of
The Pakistani rupee extended its marginal gains against the US dollar on Wednesday. The local unit closed the day at 277.66, a gain of Re0.01 against the greenback. On Tuesday, the Pakistani rupee settled at 277.67 against the dollar. Meanwhile, the dollar traded sideways in early Asian dealings on Wednesday, shrugging off renewed attacks on shipping in critical waterways in the Middle East
The government has called for a fundamental shift in Pakistan’s automotive industry from a predominantly domestic-market orientation towards export-driven production, with policymakers seeking greater investment, productivity and global market access. Pakistan’s automotive industry has been identified as a key sector with the potential to drive the country’s high-value exports, as the governmen