The rupee continued to strengthen against the dollar in the interbank market on Tuesday, rising 0.42 per cent to below 300, a barrier it crossed for the first time ever on Aug 24. According to the State Bank of Pakistan’s data, the rupee closed at 299.89 on Tuesday compared to 301.16 a day ago. In the open market, however, the rupee remained unchanged at 300 to the dollar. The local curre
Extreme heat and flooding could erase $65 billion in apparel export earnings from four Asian countries by 2030, as workers struggle under high temperatures and factories close, research from Schroders and Cornell University showed on Wednesday. The study also mapped out the supply chains of six unidentified global apparel brands operating in the four countries studied — Bangladesh, Cambodia, Pa
The Pakistan Stock Exchange (PSX) has directed the sponsors of Dewan Automotive Engineering Ltd (DAEL) to provide the rest of the shareholders with an option to sell their stakes to them within 90 days (up to Dec 11) at a PSX-determined price. The regulatory action demanding that the auto-part maker hold a compulsory share buyback follows its non-compliance of many regulations, particularly tho
The rupee continued to strengthen against the US dollar in the interbank market on Wednesday but fell in the open market, reported dawn.com. The development comes a day after the rupee rose 0.42 per cent in the interbank market to below 300, a barrier it crossed for the first time on Aug 24. According to the State Bank of Pakistan, the rupee gained 1.07 against the greenback, from yesterday’
Crisis-hit Sri Lanka must convince IMF officials that it has met key goals under a $2.9 billion bailout to push forward debt restructuring efforts crucial to a recovery for its battered economy. The officials, set to arrive in Colombo on Thursday, will assess the island’s performance under a four-year program secured last March. Sri Lanka needs to meet the IMF’s performance criteria to unlock f