LAHORE: The government of Punjab has announced that it has categorically approved the long-awaited Innovation City project in Lahore, a Rs100 billion development plan, with a scope of generating one million jobs. The project has the potential to redefine the landscape and become a growth engine of Punjab’s provincial capital. However, even in the previous tenure of Mian Shehbaz Sharif as Chief
Oil prices were little changed on Tuesday as OPEC stuck by its forecast for demand growth this year and next, amid persistent tensions in the Middle East and beyond. Brent futures for May delivery were up 24 cents at $82.45 a barrel by 1420 GMT. The April US West Texas Intermediate (WTI) crude contract rose 31 cents at $78.24. On Tuesday, OPEC stuck to its forecast for relatively strong grow
Pakistan’s banks listed on the stock market have reported an outstanding growth of 86% in their net profit in the year ended December 2023, boosting total earnings to a record high of Rs572 billion amid a higher interest rate season in the country. The banks have managed to achieve a record high profit despite economic slowdown and underperforming industrial activities in the country. In a b
ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif on Tuesday directed the submission of a comprehensive roadmap to boost IT exports. He stated that the government would take steps to fully utilise the billion-dollar potential of the country for IT exports, and ensure that young people are provided with the necessary facilities for education, skills development, and startups. The prime minister
Bears dominated the Pakistan Stock Exchange (PSX) on Tuesday and dragged its benchmark index down sharply by 953 points by the day’s end. The KSE-100 index dropped by 953.60 points, or 1.45 per cent, to stand at 64,801.70 from the previous close of 65,755.30. It had reached a low of 64,64.66. Finally, the index closed at 64,801.70 points, contracting by 953.60 points from the previous close