The Pakistani rupee sank sharply by Rs18.74 against the dollar in the interbank market on Thursday, with the local currency trading at a historic high of Rs284.85 in morning trade, according to data shared by the Exchange Companies Association of Pakistan (Ecap). Analysts attributed the record drop — which is 7.04pc — to the government’s impasse with the International Monetary Fund (IMF). On
After oscillating within a short range, the prices of representative stocks inched up on Monday despite profit-taking by investors. Topline Securities said negative sentiments can be attributed to market reports that hinted at a further delay in the staff-level agreement with the International Monetary Fund (IMF). In addition, the market anticipated that the central bank’s monetary policy co
The worst part is that there seems to be no light at the end of this tunnel. Those in power keep repeating the same mistakes and the poor end up paying the price. Wara Irfan Published February 28, 2023 Updated 2 minutes ago Someone sleeps hungry tonight. Or at least tries to. It’s not really easy to sleep on an empty stomach. Or when your ears are ringing with the hunger-induced screams of
Twitter Inc has laid off at least 200 employees, or about 10 per cent of its workforce, the New York Times reported late on Sunday, in its latest round of job cuts since Elon Musk took over the micro-blogging site last October. The layoffs on Saturday night impacted product managers, data scientists and engineers who worked on machine learning and site reliability, which helps keep Twitter’s va
From an all-time low of Rs276.58 a US dollar on February 3, the rupee gradually rose to 259.99 on February 24 — a recovery of 6 per cent — as crippling import restrictions remained in place. But it may come under renewed pressure in the April-June quarter. The external sector fundamentals are still too weak to lend lasting support to the local currency. The massive decline in the current accoun