KARACHI: Gold price soared on Wednesday to a six-month high of Rs225,400 per tola (11.66 grams) as the precious metal took cue from the rising global market that touched an all-time high. On the other hand, the Pakistani rupee maintained its downtick for the fourth consecutive working day and closed at Rs279.35 against the US dollar in the inter-bank market. According to State Bank of Pakist
LAHORE: The National Electric Power Regulatory Authority (NEPRA) has disclosed that high electricity costs were one of the contributing factors to the decline of the economic growth rate to a mere 0.29% in the financial year 2022-23. According to NEPRA’s State of the Industry Report 2023, the high cost of electricity in Pakistan has emerged as a critical challenge affecting all segments of soci
Oil prices rebounded slightly on Wednesday after four days of declines as signs of supply tightness amid output cuts by major producers overrode demand concerns in China and the US, the world’s two biggest crude consumers. Brent crude futures were up 53 cents, or 0.65 per cent, to $82.57 a barrel at 0922 GMT, while US West Texas Intermediate crude futures rose 64 cents, or 0.82pc, to $78.79 a b
ISLAMABAD: Jazz has partnered with an international firm to upgrade its Artificial Intelligence and Machine Learning (AI/ML) to turn raw data into useful information for predictions. Through the collaboration with Jazz and the international IT company TenX, the AI/ML data of Jazz will be streamlined and processed making them more efficient and easier to reuse. AI/ML will also automate tasks
KARACHI: The government raised more than double the target set for the auction of treasury bills held on Wednesday. The cut-off yields on three-month and 12-month tenors were reduced by 27 and three basis points, respectively, while the rate on benchmark six-month T-bills remained unchanged. The yields on three, six and 12 months were 21.4pc, 20.4pc and 20.3pc, respectively. The auction once