US Treasury Secretary Janet Yellen raised concerns on Monday to Beijing about “malicious cyber activity” by Chinese state-sponsored actors, days after her department reported such a breach. The incident, which the US Treasury Department disclosed last week, happened in December and resulted in access to some of its workstations and unclassified documents. In a virtual meeting with Chinese Vi
The Economic Coordination Committee (ECC) of the cabinet decided on Monday to immediately ban ozone-depleting insulation and foaming materials — polyol blended with hydrochlorofluorocarbons (HCFCs) — due to climate concerns. The committee also approved supplementary grants totalling Rs10 billion. The meeting of the ECC, presided over by Finance Minister Muhammad Aurangzeb, also repeated i
Bulls continued to dominate the trade floor on Thursday at the Pakistan Stock Exchange (PSX) as shares increased by more than 100 points amid mixed economic indicators. The benchmark KSE-100 index increased by 234.14 points, or 0.2pc, to stand at 117,242.22 points from the previous close of 117,008.08 points at 3:19pm. Finally, the index closed at 117,119.65, up by 111.57 or 0.1pc, from the
The year 2024 ended more or less the same way it began, with Pakistan struggling to stay on course to stabilise its economy from the debilitating instability of the previous three years. The spectre of default retreated, inflation subsided after a ferocious three-year run starting from May 2021, the exchange rate found its moorings and the country went from one IMF programme to another with barely
The annual inflation maintained a sharp deceleration trend, hitting an 81-month low at 4.1 per cent in December due to a decrease in the prices of perishable food products. The current situation in Pakistan reflects disinflation, which signifies a slowdown in inflation. In contrast, deflation occurs when the general price levels decline. According to the Pakistan Bureau of Statistics, the av