Food exports increased year-on-year by 37.12 per cent during the first five months of the current fiscal year, reported the Pakistan Bureau of Statistics on Tuesday. Food exports were recorded at $2.64 billion during July-November 2023-24 as compared to $1.92bn in the same period last year. The rice exports surged by 49.37pc to $1.11bn from $749.4m last year. Likewise, the exports of frui
Oil jumped three per cent on Tuesday to its highest level this month, as further attacks on ships in the Red Sea prompted fears of shipping disruptions and on hopes of interest rate cuts that could boost economic growth and fuel demand. Brent crude futures were up $2.41, or 3.1pc, at $81.48 a barrel by 11:52 a.m. ET (1652 GMT). US West Texas Intermediate crude rose by $2.36, or 3.2pc, to $75.92
The bank lending to the private sector remained negative in the first half of the current fiscal year reflecting a pathetic economic growth scenario. Data released by the State Bank of Pakistan (SBP) on Tuesday showed that the private sector had been retiring its debts from July 1 till Dec 15. The net debt retirement during this period was Rs41 billion compared to net borrowing of Rs141in the s
Exports to the Middle East bounced back with a growth of 28.98 per cent to $1.257 billion in the first five months of the current fiscal year against $974.50m from a year ago. A surge in demand for Pakistani products was observed from countries like the United Arab Emirates, Saudi Arabia and Kuwait, according to data compiled by the State Bank of Pakistan. However, the exports to Qatar decre
Stock investors opted to book profits in the outgoing week, which resulted in the benchmark index closing in the red. Arif Habib Ltd said market-driving news included the Asian Development Bank announcing a $1.2 billion loan agreement with Pakistan. In addition, the World Bank approved $350 million for economic reforms. After June 2023, Pakistan recorded for the first time a monthly current