The US dollar appreciated to an all-time high against the rupee, rising by 1.8 per cent in the interbank market on Wednesday, apparently after the political situation deteriorated further. The State Bank reported the dollar price at Rs290.22 in the interbank market against the price of Rs284.87 a day before, an increase of Rs5.37, or 1.8pc. This was the highest dollar price in the banking ma
The government on Wednesday allowed the Pakistan International Airlines-Investment Ltd (PIA-IL) to sign an agreement with the New York City Government (NYCG) for the utilisation of Roosevelt Hotel on rental for three years after reaching a settlement deal with the hotel union. The decision was taken at a special meeting of the Economic Coordination Committee (ECC) of the Cabinet that also allow
Despite no significant change in the international market, gold prices in Pakistan witnessed the highest-ever single-day hike of Rs9,900 and Rs8,487 in one-tola and 10-gram rates, respectively, on Wednesday. All Sindh Saraf Jewellers Association announced that the one-tola and 10-gram of gold hit an all-time high of Rs240,000 and Rs205,761, while the yellow metal rate remained unchanged at $2,0
Pakistan and Iran on Wednesday agreed to explore new avenues of collaboration in the fields of aviation including direct flight, revival of gas pipeline project and expansion of trade between the two nations. The understanding was reached during a meeting between Commerce Minister Naveed Qamar and visiting Chairman of the Commission of National Security and Foreign Policy of the Majlis of the I
K-Electric Ltd CEO Moonis Alvi said on Tuesday the unusually high loss that the vertically integrated power utility recorded in the first nine months of 2022-23 constitutes no more than a “blip” in the long run. Speaking to economist Ali Khizar on his YouTube channel, Mr Alvi said the company’s lenders, including those from Europe and China, knew in advance about the loss. “The substantial part