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business-commodities

Gold price rises Rs700 per tola in Pakistan

KARACHI: The price of 24 karats per tola gold witnessed an increase of Rs 700 on Monday and was traded at Rs 164,200 against its sale at Rs 163,500 the previous day. The price of 10 gram 24 karat gold

PSX plummets 537 points as uncertainty of IMF review continues

KARACHI: The Pakistan Stock Exchange (PSX) on Monday plunged 537 points or 1.28 percent as uncertainty surrounding the ninth review of Pakistan’s economy by the International Monetary Fund (IMF) persisted on Monday. Investors stayed on the sidelines owing to weak

ECC approves wheat import of 450000MT from Russia

ISLAMABAD: The Economic Coordination Committee has accorded approval to import of 450,000 metric tonnes of wheat from Russia. The approval was granted at a meeting of the Committee held in Islamabad on Monday, with Finance Minister Ishaq Dar in the

Pakistan finalizing offers to buy 500,000 tonnes of wheat

HAMBURG: Pakistan is still considering price offers in its tender to buy 500,000 tonnes of wheat which closed last week with no purchase yet reported, European traders said on Monday. Pakistan’s government had approved a plan in October to buy

Dar says won’t take dictation from IMF

ISLAMABAD: Pakistan’s finance minister hits out at IMF for not releasing bailout money despite the country having met all requirements of the programme. Says the lender is ‘behaving abnormally’ Some strong comments from Pakistan’s finance minister in a heated interview

PSX closes lackluster session with loss of 243 points

KARACHI: Pakistan Stock Exchange (PSX) witnessed bearish trend on Friday, losing 243.42 points, a negative change of 0.57 percent, closing at 42150.10 against 42393.52 points on the previous day. A total of 143,209,118 shares were traded during the day as

Gold price increases Rs1550 per tola in Pakistan

KARACHI: The price of 24 karats per tola gold witnessed an increase of Rs 1550 on Thursday and was traded at Rs 162,750 against its sale at Rs 161,200 the previous day. The price of 10-gram 24 karat gold also

OGRA increases LPG price by Rs11.79 per kilogram

The Oil and Gas Regulatory Authority (OGRA) on Thursday increased the price of liquefied petroleum gas (LPG) by Rs11.79 per kilogram for the month of December. As per a notification issued by the regulator, LPG will cost Rs215.95/kg from today

CPI-based inflation in November rises to 23.8 percent

Consumer Price Index (CPI)-based inflation recorded at 23.8% in November 2022 on a year-on-year (YoY) basis. On a month-on-month basis, it increased to 0.8% in November 2022 as compared to an increase of 4.7% in the previous month, showed data

PPA appeals PM to stop closure of poultry industry

KARACHI: Pakistan Poultry Association has appealed to Prime Minister Shehbaz Sharif to stop the closure of the poultry industry as poultry is the cheapest and high protein quality feed. According to details, the Pakistan Poultry Association in a video statement

PSX stages turnaround as KSE-100 index gains 302 points

KARACHI: The Pakistan Stock Exchange (PSX) witnessed a turnaround on Tuesday just a day after the benchmark index plummeted nearly 2 percent as KSE-100 Index rose 0.72 percent as a host of positive triggers boosted investor sentiment. Market investors received

Gold price jumps Rs300 per tola in Pakistan

KARACHI: The price of 24 karats per tola gold witnessed an increase of Rs 300 on Tuesday and was traded at Rs 161,600 against its sale at Rs 161,300 the previous day. The price of 10 gram 24 karat gold

Finance Minister expresses satisfaction over sugar availability, production

ISLAMABAD: Federal Minister for Finance and Revenue Senator, Mohammad Ishaq Dar, here on Monday expressed satisfaction over the availability and production of sugar in the country. Chairing a meeting to review the demand and supply situation of sugar in the

PSX plunges 900 points as market reacts negatively to rate hike

KARACHI: Pakistan Stock Exchange’s benchmark KSE-100 index plunged nearly 900 points on Monday as selling pressure is being witnessed across the board after the 100bps policy rate hike announced by the State Bank of Pakistan (SBP) last week. The benchmark

Govt plans to deregulate Petroleum products’ market by 2027

ISLAMABAD: The government has planned to fully deregulate its petroleum products market by 2027 after the country’s oil refineries make necessary technical upgradation in 2026, according to the draft of the upcoming Pakistan Oil Refining Policy. Oil marketing firms and

PSX gains 33 points in range-bound session

KARACHI: Pakistan Stock Exchange (PSX) on Friday gained 33.08 points after a mixed session, closing at 42936.73 against 42903.65 points on the previous day. A total of 177,297,274 shares were traded during the day as compared to 153,126,848 shares the

Weekly inflation rises 0.48 percent

The Sensitive price Indicator (SPI) based weekly inflation for the week ended on November 24 for the combined consumption group witnessed an increase of 0.48 percent as compared to the previous week. The SPI for the week under review in

Prices of broiler chicken, eggs increased

KARACHI: Various tea-producing companies have jacked up the prices of different brands of tea leaves by Rs 350 per kg, after which tea price per kg has reached Rs 1700. Apart from this, at the retail level, the price of

PSX remains in green as KSE-100 gains 23 points

ISLAMABAD: The 100-index of the Pakistan Stock Exchange (PSX) gained 23.34 points on Thursday, depicting a nominal positive change of 0.05 percent, closing at 42903.65 against 42880.31 points on the previous day. A total of 153,126,848 shares were traded during

Haq launches Interest-free installment smartphone scheme

ISLAMABAD: Federal Minister for Information Technology and Telecommunication Syed Amin Ul Haq launched an interest-free installment scheme for the masses interested in buying smartphones. As per details, the smartphone-for-all scheme was launched for low-income people who cannot afford to pay

PSX under pressure as KSE-100 falls 48 points

Pakistan Stock Exchange (PSX) ended the trading session in red on Wednesday due to political instability rattling investors’ confidence. Hovering over the psychological level of 42,000-43,000 points, the benchmark KSE-100 index posted further losses by 48.32 points, falling to 42,880.31.

PSX maintains bullish trend, gains 167 points

KARACHI: Pakistan Stock Exchange (PSX) on Tuesday continued its bullish trend, gaining 167.44 points, depicting a slight positive change of 0.39 percent, closing at 42928.63 against 42761.19 points on the previous day. A total of 195,973,380 shares were traded during

PSX begins week on positive note as KSE-100 index gains 30 points

KARACHI: Pakistan stock exchange (PSX) on Monday gained 30.95 points, depicting a slight positive change of 0.07 percent, closing at 42761.19 against 42,730.24 points on the previous working day. A total of 132,942,539 shares were traded during the day as

Oranges’ prices may surge by 50 percent due to low production: PBF

ISLAMABAD: The prices of oranges may rise this winter as the production recorded a very low (50 percent) due to acute canal water scarcity and unexpectedly higher temperatures during the flowering stage of plants, the Pakistan Business Forum (PBF) said.

India scraps export tax on low-grade iron ore, some steel intermediates

NEW DELHI: India scrapped export taxes on low-grade iron ore and on some intermediate steel products beginning Saturday, after months of complaints from miners and steel makers about loss of foreign sales opportunities. The move, set out in a notification

Cooking oil, ghee prices drop at Utility Stores

ISLAMABAD: The prices of cooking oil and ghee have dropped at utility stores across the country. According to details, the price of ghee and cooking oil has dropped in utility stores across the country. According to a utility stores spokesperson,

Weekly inflation rises 0.62 percent

ISLAMABAD: The weekly inflation in Pakistan, measured by the Sensitive Price Index (SPI), increased by 0.62 percent for the week ended on November 17. According to the data issued by the Pakistan Bureau of Statistics (PBS), the SPI for the

Cell phones’ import falls 64.94pc in first 4 months of FY23

ISLAMABAD: The import of mobile phones witnessed a decrease of 64.94 per cent during the first four months of the current fiscal year (2022-23) as compared to the corresponding period of last year. Pakistan imported mobile phones worth US $226.051

Pakistan’s fruits, vegetable export to China crosses $54 million in Jan-Sept 2022

BEIJING: Pakistan’s fruits and vegetable export to China topped $54.34 million, witnessing a massive increase in the month of January-September year-on-year, showed data from the General Administration of Customs of the People’s Republic of China (GACC). Also read: Pakistan’s export

Bulls return to PSX as KSE-100 index gains 186 points

ISLAMABAD: The 100-index of the Pakistan Stock Exchange (PSX) on Wednesday turned around to bullish trend and gained 186.90 points, a positive change of 0.44 percent, closing at 42,983.75 against 42,796.85 points on the last working day. A total of