Crisis-hit Sri Lanka must convince IMF officials that it has met key goals under a $2.9 billion bailout to push forward debt restructuring efforts crucial to a recovery for its battered economy. The officials, set to arrive in Colombo on Thursday, will assess the island’s performance under a four-year program secured last March. Sri Lanka needs to meet the IMF’s performance criteria to unlock f
With no let-up in the rising energy rates, the prices of petroleum products are estimated to rise again later this week owing to a combination of currency depreciation and higher international oil prices. Informed sources told Dawn that the prices of both major petroleum products — petrol and high-speed diesel (HSD) — could go up by about Rs10-14 and Rs14-16 per litre, respectively, on Sept 15
Oil prices were near flat on Wednesday, after earlier hitting a 10-month high, as a surprise build in US crude inventories offset expectations of tight crude supply for the rest of the year. International benchmark Brent futures dropped 7 cents to $91.99 a barrel by 12:48 p.m. EDT (1648 GMT). Its session high of $92.84 a barrel was the highest since November. US West Texas Intermediate crud
The first month of the current fiscal year saw a decline of 14.55 per cent in exports to nine regional countries, mainly driven by a drop in shipments to China, data compiled by the State Bank of Pakistan showed. The country’s exports to Afghanistan, China, Bangladesh, Sri Lanka, India, Iran, Nepal, Bhutan and the Maldives dipped to $260.983 million — just 12.62pc of total exports of $2.068bn i
Mixed sentiments and low volumes led to a lacklustre trading session on the Pakistan Stock Exchange on Tuesday. Topline Securities said investors chose to take profits, which led the benchmark index of the national bourse to close on the lower side. According to Arif Habib Ltd, the KSE-100 index slipping further away from the 46,000-point level has increased the chances of “a new low” going for