Just when the prices of wheat flour are soon going to ease, following a merciless upward trend witnessed over the past few months, another fundamental kitchen commodity started to become costlier for a people badly battered by the inflation. Prices of pulses are going up, thanks to the non-clearance of imported consignments at the port due to a delay in the approval of relevant documents by ban
Oil prices slipped in early trade on Friday but were on track for gains of more than six per cent for the week on solid signs of demand growth in top crude-oil importer China and expectations of less aggressive interest rate rises in the United States. Brent crude futures had fallen 33 cents, or 0.4pc, to $83.70 a barrel by 0322 GMT, while US West Texas Intermediate (WTI) crude futures slipped
In the absence of any dollar inflows from the International Monetary Fund (IMF) or friendly countries, foreign exchange reserves of the State Bank of Pakistan (SBP) dropped to $4.34 billion, the lowest since February 2014. The SBP said on Thursday its reserves decreased by $1.23bn during the week ending on Jan 6 due to external debt repayments. The country has been facing a serious dollar sh
Pakistani exporters participating in Heimtextil 2023, an annual textile trade fair, have voiced hope that they will secure a record number of export orders during the exhibition. The international exhibition is happening in Frankfurt, Germany and will run from January 10 to 13, 2023. Around 2,400 exhibitors from over 120 countries are taking part, including 260 exporters from Pakistan. Pakis
Pakistan’s real Gross Domestic Product (GDP) is to grow at 2.0% in the fiscal year 2022-23 (FY23), according to the World Bank’s latest report forecast, while global growth is also expected to slow “perilously close” to recession in 2023, slashing its economic forecast on high inflation, rising interest rates and Russia’s invasion of Ukraine. The World Bank’s latest forecast points to a “sharp,