Despite promises of massive financial help for Pakistan, the rupee failed to put up any resistance and lost another 5 paise against the US dollar in the interbank market on Wednesday. The international community committed to giving Pakistan about $10bn to help it recover from devastating floods. However, Finance Minister Ishaq Dar said that almost 90 per cent of pledges made by the internati
While the poultry crisis has begun to subside after the government released genetically modified soybean and canola seeds that had been stranded at ports, more than 100 containers of onions are held up at ports awaiting extension in duty and tax exemption leading to a further surge in vegetable prices across the country, Dawn learnt from official sources on Wednesday. According to Karachi Port
The World Economic Forum in its global crisis risk report has identified debt crisis, sustained and/or rapid inflation, state collapse, failure of cyber security measures, and concentration of digital power as top five risks faced by Pakistan. In its ‘Global Risks 2023’ report, the global forum said that Pakistan was also among larger emerging markets exhibiting a heightened risk of default. O
Oil prices rose in early trade on Thursday, building on gains in the previous session as China’s demand outlook improves and concerns rise over the impact of sanctions on Russian supply. Brent crude rose 50 cents, or 0.6 per cent, to $83.17 per barrel by 0135 GMT, while US West Texas Intermediate crude also rose 50 cents, or 0.7pc, to $77.91 per barrel. Both benchmarks rose 3pc in Wednesday’
Auto sector, barring the bus segment, recorded a steep decline in sales ranging from 28.4-56.5 per cent during the first half of 2022-23. With a 40pc drop, total car sales stood at 68,900 units in July-December compared to 114,774 units in the same period last year. Buyers’ reluctance stemmed from rising prices coupled with high-interest rates making leasing more expensive, curbs on auto fin