Pakistan International Airlines (PIA) announced that the severely disrupted flight schedule is returning to normal after securing funds for fuel purchase on Wednesday. A spokesperson for the national flag carrier stated that PIA’s flight schedule is gradually returning to normal after arranging funds for fuel provision. He said that the airline managed to secure funds from its own resources,
After Peshawar and Lahore traders unilaterally issued higher rates in violation of the mutual understanding, the All Pakistan Gem and Jewellers Association (APGJA) has announced to stop the issuance of daily rates for one week. The association on Wednesday increased the 10-gram and one-tola rates by Rs5,487 and Rs6,400 to Rs177,049 and Rs206,500, respectively, following a hike of $35 per ounce
The interbank exchange rate closed at Rs280.29 per dollar on Wednesday as the local currency lost 1.16 per cent value from a day ago. The increase of Rs3.26 in the dollar rate marked the second consecutive day of the rupee’s depreciation, which follows an unusually long period of the local currency gaining strength against the greenback for 28 straight sessions. The overall gain in the rupee
Oil prices climbed about 2 per cent to a two-week high on Wednesday on a bigger-than-expected US storage draw and hitting session highs after Iran called for an oil embargo on Israel. Brent futures rose $1.92, or 2.1pc, to $91.82 a barrel by 1:24 p.m. EDT (1724 GMT). US West Texas Intermediate (WTI) crude rose $2.09, or 2.4pc, to $88.75. At their session highs, both benchmarks were up more than
Textile and clothing exports fell for third month in a row due to growing production costs and liquidity crunch, according to statistics issued by the Pakistan Bureau of Statistics on Wednesday. The export value of textile and clothing exports shrank 9.95 per cent in the first quarter (July-September) FY24 to $4.12 billion from $4.58bn in the corresponding period last year. In September, the