News

APTMA warns of export decline

ISLAMABAD: The textile industry has cautioned the Special Investment Facilitation Council (SIFC) about the likelihood of further declines in exports due to the absence of a financially viable energy source for the industry. It has proposed a set of measures to enhance the competitiveness of textile exports in the global market. It pointed out the lack of a financially viable energy source for t

Gold price surges to six-month high

KARACHI: Gold price soared on Wednesday to a six-month high of Rs225,400 per tola (11.66 grams) as the precious metal took cue from the rising global market that touched an all-time high. On the other hand, the Pakistani rupee maintained its downtick for the fourth consecutive working day and closed at Rs279.35 against the US dollar in the inter-bank market. According to State Bank of Pakist

Soaring energy costs stall growth at 0.29%

LAHORE: The National Electric Power Regulatory Authority (NEPRA) has disclosed that high electricity costs were one of the contributing factors to the decline of the economic growth rate to a mere 0.29% in the financial year 2022-23. According to NEPRA’s State of the Industry Report 2023, the high cost of electricity in Pakistan has emerged as a critical challenge affecting all segments of soci

Oil up as OPEC+ cuts override China, US demand concerns

Oil prices rebounded slightly on Wednesday after four days of declines as signs of supply tightness amid output cuts by major producers overrode demand concerns in China and the US, the world’s two biggest crude consumers. Brent crude futures were up 53 cents, or 0.65 per cent, to $82.57 a barrel at 0922 GMT, while US West Texas Intermediate crude futures rose 64 cents, or 0.82pc, to $78.79 a b

Jazz, TenX become partners

ISLAMABAD: Jazz has partnered with an international firm to upgrade its Artificial Intelligence and Machine Learning (AI/ML) to turn raw data into useful information for predictions. Through the collaboration with Jazz and the international IT company TenX, the AI/ML data of Jazz will be streamlined and processed making them more efficient and easier to reuse. AI/ML will also automate tasks