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IN DEPTH ANALYSIS

Politicized Dollarization

The term dollarization is shorthand for the use of any foreign currency by another country. Dollarization occurs when residents of a country extensively use foreign currency alongside or instead of domestic currency. Dollarization is a situation when the local currency

The poor suffer amid politicians’ wrangling

One wonders whether Pakistani politicians think about their politics or the people, wish to eliminate poverty or the poor, want to build the country’s assets or destroy them, embrace ways to make the rich poor, and send the poor to

G20 – No more a Business as Usual

Just a week back, the foreign ministers of the top twenty countries assembled at Bali (Indonesia) on July 7-8 for the G20 Foreign Ministers’ Meeting. G20 is the highest forum mostly for the Western countries guided by the theme “Recover

BANKING

Government revises profit rates on saving schemes

The government has raised the rate of profit by 20-125 basis points on various saving schemes, to mobilize high investment in saving products. Central Directorate of National Savings (CDNS) has revised the rate of return on Savings Accounts (SA) by

Developing states are right to think that they were left to fend for themselves: SB

KARACHI: Acting Governor State Bank Murtaza Syed has said that developing countries are right to think that they have been left to protect themselves. In his message on Twitter, Murtaza Syed said that at a time when the world is

Steep fall for US dollar as PKR gains Rs11.38 in open market

KARACHI: After losing its value for weeks, rupee seemed to be gaining some rapid ground on the US dollar as the greenback on Wednesday continued its losing streak in interbank and open market against PKR. According to forex dealers, the

COMMODITIES

Govt plans long term LNG purchase to deal with energy crisis

The government of Pakistan is planning to sign a long-term agreement for the purchase of liquified natural gas (LNG) to overcome the ongoing energy crisis in the country, a private TV reported on Sunday. Pakistan LNG Limited, the government company

Weekly inflation rises to record 38.63 percent

ISLAMABAD: Inflation measured by the Sensitive Price Index (SPI) increased by 0.82 per cent from the previous week, mainly due to a slight increase in perishable food products, according to the Pakistan Bureau of Statistics (PBS) data released on Friday.

Gold breaks losing streak as price rises by Rs1600 per tola in Pakistan

KARACHI: Gold snapped five day losing streak as prices in Pakistan on Saturday recorded an increase of Rs1,600, settling the per tola price at Rs143,500. Gold was up Rs1,600 at Rs143,500 per tola and increased by Rs1,372 to Rs123,028 per

TAXES & SUBSIDIES

Government revises profit rates on saving schemes

The government has raised the rate of profit by 20-125 basis points on various saving schemes, to mobilize high investment in saving products. Central Directorate of National Savings (CDNS) has revised the rate of return on Savings Accounts (SA) by

OIL & GOLD

Gold breaks losing streak as price rises by Rs1600 per tola in Pakistan

KARACHI: Gold snapped five day losing streak as prices in Pakistan on Saturday recorded an increase of Rs1,600, settling the per tola price at Rs143,500. Gold was up Rs1,600 at Rs143,500 per tola and increased by Rs1,372 to Rs123,028 per

Gold price drops Rs1300 per tola in Pakistan

KARACHI: The price of gold in the domestic market fell by Rs1,300 per tola and Rs1,115 per 10 grams on Friday. It has lost Rs17,700 per tola in last four sessions. Domestic gold prices settled at Rs141,900 per tola and

Gold price further plunges by Rs.2100 per tola

KARACHI: Gold prices further decreased on Thursday after the Pakistani rupee continued to register significant gains against the US dollar. Data released by All Sindh Sarafa and Jewellers Association (ASSJA) showed that the price of gold plunged by Rs2,100 per

Gold prices see decrease of Rs4200 per tola in Pakistan

KARACHI: After continuous gain for a week, gold prices saw a steep decline of Rs4200 on Friday as the precious commodity receded nearly half of its gain recorded a day earlier. It’s worth mentioning that gold prices gained Rs12,000 per

Gold prices see massive increase of Rs10,500 in single day

KARACHI: Pakistan’s rupee continuous losing streak has been a key factor in the recent trend of soaring gold prices as the price of gold saw a whopping increase of Rs10,500 per tola in a single day on Thursday to Rs162,500,

Pakistani rupee depreciates further against dollar in interbank

KARACHI: The dollar continues to soar high against the Pakistani rupee and the value of the dollar is not slowing down due to political instability. According to the details, the increase in the value of the dollar and the devaluation

Gold sees Rs1200 increase as rupee continues to lose against dollar

KARACHI: As rupee continues its losing streak against US dollar, people seem to invest more and more in gold. On Tuesday gold prices continued their upward trend as the yellow metal recorded an increase of Rs1200 per tola. The price

CRYPTO

Bitcoin falls on lower volume and volatility

Bitcoin (BTC) plunged 4pc. Ether (ETH) fell 3pc to less than $1,600. Both BTC and ETH look to be in a short-term downward trend, with seven consecutive negative candles. The S&P 500 and Dow Jones Industrial Average lost 0.1pc and

Man who accidently threw away £150m in bitcoin seeks AI’s help

A computer engineer who accidentally threw away a hard drive containing more than $180 million worth of bitcoins has decided to turn to artificial intelligence to find them. According to the details, 37-year-old James Howells, during an office cleaning in

US crypto firm Nomad hit by $190 million theft

LONDON: U.S. crypto firm Nomad has been hit by a $190 million theft, blockchain researchers said on Tuesday, the latest such heist to hit the digital asset sector this year. Nomad said in a tweet that it was “aware of

GLOBAL MARKET

China’s export growth gains steam despite weakening global demand

BEIJING: China’s export growth unexpectedly picked up speed in July, offering an encouraging boost to the economy as it struggles to recover from a sharp, COVID-induced slump, though imports remained sluggish. Outbound shipments grew 18.0% in July from a year

UAE to invest $1 billion in Pakistani companies

The United Arab Emirates intends to invest $1 billion in Pakistani companies across various sectors, state news agency (WAM) reported citing an official source in Abu Dhabi. The UAE is keen to continue cooperation with Pakistan “in various fields, which

Bulls take over PSX as 100-index gains 877.26 points

KARACHI: The Pakistan Stock Exchange (PSX) soared during Wednesday’s intraday trade as its benchmark KSE-100 index surged over 850 points after Islamabad completed the last pre-condition to revive the International Monetary Fund’s (IMF) loan programme. Encouraging financial results, rupee appreciation




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