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Gold prices in Pakistan saw a sharp increase, with 24-karat gold rising by Rs.2,300 per tola, reaching Rs.288,700 on Wednesday. This surge follows global trends, where gold continues to act as a safe-haven asset amid economic uncertainty. Gold Rates Increase Across Markets The price of 10 grams of 24-karat gold also rose by Rs.1,972, reaching …
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Electricity consumers in Pakistan may get temporary relief as the power tariff is expected to drop by Rs1.30 per unit for a month. The Central Power Purchasing Agency (CPPA) has requested a reduction in the monthly fuel price adjustment for December. The CPPA’s petition will be heard tomorrow. According to the request, the estimated fuel …
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Technology stocks rebounded on Tuesday after suffering a massive selloff. Nvidia led the recovery, gaining 8.9% after losing nearly 17% on Monday. The AI chip leader had shed around $593 billion in market value, marking the biggest one-day loss for any company. The market shock followed the release of DeepSeek, a Chinese AI model. The …
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The federal government has appointed Faiz Ahmad as the Chief Executive Officer of the Trade Development Authority of Pakistan (TDAP) on a deputation basis. The official notification has been issued. Faiz Ahmad has been appointed to this position as a Grade 22 officer. He is currently serving as the Director General at the Pakistan Customs …
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Karachi: In a significant development, the Karachi Awards 2025 jury convened to review this year’s submissions, marking an important step forward for the awards program. Now in its fourth year, this initiative recognizes and celebrates welfare services across Karachi and its surrounding areas. The meeting emphasized the transparency of the awards process while focusing on …
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KARACHI: The State Bank of Pakistan (SBP) has granted a digital banking license to Easy Paisa Bank Ltd, the central bank governor announced on Tuesday. This move aims to enhance financial inclusion, particularly in remote areas of the country. Speaking on the occasion, SBP Governor Jameel Ahmad emphasized the significance of digital and branchless banking. …
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KARACHI: Pakistan International Airlines (PIA) is facing a major staffing crisis following the resignation of 110 engineers and technicians. The departures come amidst the government’s move to privatize the national flag carrier. In response to the resignations, PIA’s administration has decided to fill the vacant positions on a daily-wage basis. According to sources, the engineering …
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Islamabad: The Securities and Exchange Commission of Pakistan (SECP) has released a Consultation Paper seeking public feedback on potential changes to the Research Analyst Regulations, 2015. The aim is to improve the quality of research available to investors and align the regulations with both local and international standards. Enhancing Research Quality Research analysts play a …
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The State Bank of Pakistan (SBP) on Monday reduced the policy rate by 100 basis points, bringing it to 12%, during the first monetary policy announcement of 2025. The new rate will take effect from December 17, 2024, according to a statement released by the central bank. Inflation Declining Gradually SBP Governor Jameel Ahmad, who …
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Islamabad: The Oil and Gas Regulatory Authority (OGRA) has announced an increase in the price of gas for captive power plants. However, gas prices for domestic consumers, as well as other sectors, will remain unchanged. Gas Price Hike for Captive Power Plants OGRA has raised the gas price for captive power plants by 500 rupees …
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The Pakistan Telecommunication Authority (PTA) has highlighted the poor quality of service (QoS) provided by mobile operators in Pakistan. The results of a QoS survey conducted in Q4 2024 reveal substandard performance in network coverage, broadband, voice, and SMS services. Key players like Zong and Jazz showed strength in specific areas, while Telenor consistently underperformed. …
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Gold prices, after reaching record highs, have slightly dropped in both international and local markets. The recent fluctuation in gold prices has drawn significant attention, particularly after the surge to historic levels just a day earlier. International Gold Prices Slip In the global bullion market, the price of gold per ounce decreased by $2, settling …
The Pakistan Stock Exchange (PSX) witnessed a remarkable surge on Friday, with the KSE-100 Index climbing 1.43% during intra-day trading. The index reached 115,662.87 points by midday, reflecting renewed investor confidence and strong market activity. Robust Gains and Market Activity The KSE-100 Index recorded a sharp increase of 1,625.08 points before trading paused for Friday …
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Amid ongoing economic reforms, Pakistan’s inflation rate is expected to drop significantly, with the Consumer Price Index (CPI) for January 2025 forecasted to dip below 3%, marking the lowest level since November 2015. According to a report by JS Global, January’s CPI inflation could fall to 2.8%, driven by a high base effect, despite a …
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The Pakistan Stock Exchange (PSX) continued its upward momentum on Friday, buoyed by expectations of a rate cut in the upcoming Monetary Policy Committee (MPC) meeting and increased foreign interest, particularly in the cement sector. The benchmark KSE-100 Index gained 1,741.26 points, or 1.53%, reaching an intraday high of 115,779.05 before closing near its peak. …
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Prime Minister Shehbaz Sharif has welcomed the World Bank’s $20 billion commitment under the new Country Partnership Framework (CPF) for Pakistan. This strategic partnership focuses on sustainable development, private sector growth, and building human capital, promising to address the nation’s long-standing economic challenges. Strengthening Pakistan-World Bank Relations Speaking at a ceremony in Islamabad, PM Shehbaz …
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Oil prices remain under pressure as uncertainty grows over the impact of U.S. President Donald Trump’s proposed tariffs and energy policies on global economic growth and oil demand. Despite recent losses, Brent crude futures edged up 18 cents to $79.18 per barrel, while U.S. West Texas Intermediate (WTI) rose 14 cents to $75.58. Analysts highlight …
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The National Assembly has revealed that high line losses and rampant electricity theft are the primary causes of prolonged load shedding in Karachi. Areas with 25-30% losses experience up to 6 hours of load shedding daily, while those with more than 30% losses suffer up to 10 hours. The government has claimed that the winter …
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The Pakistan Stock Exchange (PSX) faced another tough session on Wednesday as the KSE-100 Index plummeted by 1,598.82 points, or 1.39%. The index closed at 113,443.43, reflecting weak investor confidence due to economic uncertainty and regulatory concerns. During the session, the index reached an intraday high of 115,256.16 before falling to a low of 113,359.37. …
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Oracle’s shares soared nearly 9% on Wednesday following President Donald Trump’s announcement of a $500 billion artificial intelligence (AI) investment plan. The initiative, known as “Stargate,” aims to solidify the United States’ leadership in AI technology and infrastructure, with Oracle playing a central role alongside partners OpenAI and SoftBank. Massive Investment to Boost AI Leadership …
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KARACHI: Residents of Lines Area attacked K-Electric (KE) staff during an operation to disconnect illegal power connections, according to a KE press release. The attack occurred in Abysinia Lines (Lines Area) as KE teams worked to remove illegal electricity connections (kunda). Injured staff members were immediately taken to a nearby private hospital for medical treatment. …
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ISLAMABAD: The International Monetary Fund (IMF) has advised Pakistan to present a mini-budget following a revenue shortfall of Rs385 billion recorded between July and December 2024, according to sources. Prime Minister rejected the IMF’s recommendation, instructing the Federal Board of Revenue (FBR) to address the deficit through alternative measures. The FBR has already shared a …
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The Excise Department has launched an operation targeting non-custom paid (NCP) vehicles across Balochistan. The operation, which began on January 21, is being conducted in collaboration with local district administrations, Customs, and Police. The operation initially focuses on Quetta, Mastung, Sorab, Khuzdar, Kalat, Nushki, Turbat, and Nasirabad. Authorities plan to expand the campaign to other …
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