Two major world economies — Japan and the UK — have fallen into a recession in the second half of 2023. While Japan’s ‘unexpected fall comes off the back of a contracting gross domestic product (GDP) — its economy also shrank by 3.3pc in the previous quarter, the UK’s decline comes ahead of this year’s expected election for PM Rishi Sunak, who has promised to boost growth. The figures from J
With system losses touching a massive 14.5 per cent, the Oil and Gas Regulatory Authority (Ogra) on Thursday notified up to 9pc reduction in the sale price of Regasified Liquefied Natural Gas (RLNG) for SSGCL and SNGPL for the current month, effective Feb 1, owing to lower international prices. This is the second month in a row that RLNG prices have declined. The price had dropped by 8pc after
The federal cabinet on Thursday approved a 67 per cent increase in the natural gas tariff with effect from Feb 1, apparently to meet the revenue requirement of the gas utilities targeted for the current year. According to the Prime Minister’s Office (PMO), the cabinet meeting presided over by caretaker Prime Minister Anwaarul Haq Kakar approved all decisions of the Economic Coordination Committ
The latest proposal of the International Monetary Fund (IMF) to further liberalise imports could destabilise rupee-dollar parity, said market sources. “The IMF wants to see up to 45 per cent increase in the imports in the second half of the current fiscal year which would surely put pressure on the exchange rate,” a well-informed senior banker told Dawn on Thursday. He said the IMF has draft
Shares at the Pakistan Stock Exchange (PSX) traded in the green on Wednesday over clarity on the political front, gaining more than 900 points. According to the PSX website, the benchmark KSE-100 index gained 1166.11 points, or 1.9 per cent, to stand at 62,393.03 at 10:43am from the previous close of 61,226.92. It finally closed at 62,153.84 points, up 926.92 or 1.51pc. On Tuesday, the in