The Pakistani rupee fell by Rs3.42 against the US dollar during interbank trade on Wednesday, extending its losses from the previous day. The local currency dropped 1.16 per cent in the interbank market to close at Rs294.93 against the greenback, according to the State Bank of Pakistan data. In the open market, the dollar was being traded for Rs303.50 around 12:24pm. Yesterday, the rupee
World Trade Organisation experts ruled on Wednesday that tariffs imposed by China on billions’ worth of US imports in retaliation for Washington’s steel and aluminium tariffs violated international trade rules. A WTO panel set up to help resolve one of numerous disputes within the tit-for-tat trade war between the world’s two biggest economies found that China’s “additional duties measure is in
Pakistan’s total debt and liabilities surged by 29 per cent, or Rs17.332 trillion in FY23 to reach Rs77.104tr during FY23, compared to Rs59.772tr in FY22, according to the State Bank of Pakistan’s latest data released on Wednesday. However, the gross external debt of the country declined by $6 billion during the same fiscal year, reaching $124.3bn compared to $130.3bn in FY22. The SBP report
To protect the public from falling into debt traps of illegal loan apps, around 120 illegal loan apps that were previously available on Google Play and Apple stores. The measures was taken by the Securities and Exchange Commission of Pakistan (SECP), in collaboration with Google, Apple, and the Pakistan Telecommunication Authority (PTA), in view of the recent proliferation of illegal personal
Located at a stone’s throw from the public beach in Clifton, the offices of For U Real Traders Ltd appeared swarmed with prospective clients looking to double their savings in a short time. Beyond the reception area adorned with a portrait of the Quaid-i-Azam and many works of Islamic calligraphy was a bullpen where a large team of 20-something women worked the phone lines non-stop. Next to it