After the Supreme Court endorsed a settlement deal worth over $6.5 billion last week, the government on Sunday approved a payment of more than $900 million to the Chilean firm Antofagasta over six years to exit the Reko Diq project. The committee also green-lighted about $1.91bn shareholder financing by state-owned enterprises (SOEs) to take the gold and copper mining project forward. The de
Stock prices plummeted on Thursday after bouncing within a small range on the back of a deteriorating macroeconomic situation. Analyst Ahsan Mehanti said the shares market came under pressure as investors reacted to a report by international investment bank JPMorgan, which projected the central bank raising the policy rate by 400 basis points to 20 per cent by the end of 2022-23 amid high infla
The Biden administration has added 24 companies and other entities to an export control list for supporting Russia’s military or defense industrial base, Pakistan’s nuclear activities or for supplying an Iranian electronics company. The entities, based in Latvia, Pakistan, Russia, Singapore and Switzerland, were added over US national security and foreign policy concerns, the Commerce Departmen
Despite the import of urea, farmers complain that market costs for compost have climbed significantly. Amanullah Chattha, vice-president of Kissan Board Pakistan, said in a statement here on Thursday that although the government imported 33,000 tonnes of fertiliser from abroad, urea compost is sold for Rs3,000 per bag in the local market. He said that the first irrigation of the wheat harvest i
Twitter Inc plans to change the pricing of its Twitter Blue subscription product to $11, from $7.99, if paid for through its iPhone app and to $7 if paid for on the website, the Information reported on Wednesday, citing a person briefed on the plans. The move was likely a pushback against Apple Inc’s 30pc cut on any payments made by users via apps on the iOS operating system, the report said.