The Pakistani rupee strengthened against the US dollar, appreciating 0.06% during the opening minutes of trading in the inter-bank market on Wednesday. At 10am, the local currency was hovering at 280.23, a gain of Re0.17 against the greenback. On Tuesday, the local unit closed at 280.40. Globally, the yen looked punch-drunk on Wednesday after a sudden spill overnight, pressured by wide in
The Pakistan Stock Exchange (PSX) opened the week on a strong note as bullish sentiment dominated trading throughout the session. Investor confidence was buoyed by expectations that the International Monetary Fund (IMF) Executive Board would approve the long-awaited $1 billion disbursement for Pakistan later in the day. The benchmark KSE-100 index touched the day's peak at 168,755 and the low a
Bullish sentiments were observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining nearly 1,000 points during the intra-day trading on Tuesday, as investors rejoice after the International Monetary Fund’s (IMF) Executive Board on Monday approved the disbursement of $1.2 billion for Pakistan under the Extended Fund Facility (EFF) and the Resilience and Sustainability Fa
The United Arab Emirates (UAE) plans not only to meet domestic demand for liquefied natural gas (LNG), but also to grow its exports, Energy Minister Suhail al-Mazrouei said on Monday. Mazrouei said he agreed with Qatar's energy minister that global demand for natural gas is outstripping investment in production projects. "We intend not only to satisfy our local demand, but we are also growin
The industrial community of Punjab, particularly the value-added textile export sector, has condemned the proposed increase in base tariffs sought by power distribution companies (DISCOs), including Islamabad, Faisalabad and Lahore electricity supplying companies, describing the move as unjustified and disastrous for an already struggling manufacturing base. Industrial associations questioned w