Some revival in construction activities propelled local cement sales by a mere one per cent year-on-year to 20.223 million tonnes during July-December of FY24, while exports soared by 111pc to 3.653m tonnes from 1.734m tonnes the same period a year ago. As a result, the cumulative cement despatches (domestic and export) grew 9.7pc to 23.876m tonnes in 1HFY24 versus 21.674m tonnes, according to
Merchandise exports grew for the fourth consecutive month in December, reaching an 18-month high, indicating a recovery of export-led industrial growth. In absolute terms, the export proceeds were recorded at $2.82 billion in December against $2.30bn over the corresponding month last year, indicating a growth of 22.21pc, data released by the Pakistan Bureau of Statistics showed on Tuesday. O
The rupee snapped its 13-session winning streak as it lost three paise against the US dollar to Rs281.89 in the interbank market on Tuesday. However, market experts said the meagre gain didn’t reflect a comeback of the bullish dollar which hit an all-time high of Rs307 against the local currency on Sept 5, 2023. “The depreciation is negligible and does not indicate that the dollar will keep
Bitcoin galloped past $45,000 on Tuesday, for the first time since April 2022, as the world’s biggest cryptocurrency started the new year with a bang, buoyed by optimism around the possible approval of exchange-traded spot bitcoin funds. Bitcoin touched a 21-month peak of $45,922, having gained 156 per cent last year in its strongest yearly performance since 2020. It was last up 3.1pc at $45,50
The first half of FY24 ended on a dismal note for the petroleum sector due to a 15 per cent drop in sales of petroleum products to 7.686 million tonnes from nine million tonnes in the same period last fiscal year. Petrol sales posted a drop of 7pc to 3.57m tonnes during the July-December period from 3.83m tonnes in the same period of FY23 despite a price drop to Rs267.34 from Rs331.38 per litre