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
Extending its winning streak for the third consecutive session after suffering the biggest-ever single-day fall on Dec 27, bulls staged a spectacular rally on the first day of the new calendar year of 2024, again tossing the KSE-100 index above 64,000-point level on Monday. Topline Securities Ltd Chief Executive Officer Muhammed Sohail told Dawn that the release of funds to Independent Power P