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Islamabad: Pakistan and the International Monetary Fund (IMF) have made significant progress toward a Staff-Level Agreement (SLA) on the first review of the $7 billion loan program. IMF Mission Chief Nathan Porter confirmed the development. He stated that discussions between the lender and Pakistani authorities moved forward on economic reforms under the Extended Fund Facility …
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Tesla has put Cybertruck deliveries on hold due to a critical issue with its trim. Reports indicate that the cantrail trim, a decorative piece covering the roof ledge above the door, is detaching and potentially flying off. This has led the company to issue a “containment hold,” delaying deliveries until the problem is resolved. Safety …
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The gold price has soared to record levels on Thursday in both global and local markets. In the international market, gold per ounce jumped $27, reaching $2,942. Meanwhile, in the local market, the price of gold per tola rose by Rs 2,800, hitting a new peak of Rs 309,300. Similarly, gold per 10 grams increased …
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Karachi: Visa (NYSE: V), a global leader in digital payments, has announced that Visa cardholders in Pakistan can now add their cards to Google Wallet. The announcement was made at a market-wide event hosted by Visa, attended by senior members of Pakistan’s financial industry. Starting today, Visa cardholders from HBL, Bank Alfalah, UBL, and Meezan …
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Google Wallet has officially launched in Pakistan, bringing a safer and more convenient digital payment solution to users. As Pakistan’s digital payment landscape continues to grow, this launch aims to simplify transactions, enhance financial inclusion, and support seamless payments for shopping, travel, and daily expenses. Seamless Payments and Added Convenience Google Wallet allows users to …
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Tesla stock plunged by 15%, wiping out all the gains it had made after the U.S. presidential election. The decline followed an analyst’s lowered delivery forecast, which triggered a wave of selling and increased pressure on the stock. Tesla had experienced a surge in stock value after Donald Trump’s election victory, reaching its peak in …
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Pakistan has begun policy-level discussions with the IMF to secure the next $1 billion tranche from its $7 billion loan program. These talks, running until March 14, will assess Pakistan’s economic progress and its ability to meet IMF conditions. The key focus areas include new taxation policies, energy sector reforms, and debt reduction strategies. New …
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The Monetary Policy Committee (MPC) decided to maintain the policy rate at 12% in its meeting on March 10, 2025. Inflation in February dropped more than expected due to lower food and energy prices. However, the committee highlighted risks from price volatility, which could reverse the declining trend in inflation. Core inflation remains high, and …
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Karachi: The gold and silver prices in Pakistan remained stable on Monday, March 10, 2025. Local and international markets showed no fluctuations, keeping the rates steady. Gold Prices in Pakistan The gold price per tola (24-Karat) stood at Rs. 306,000, while 10 grams of 24-Karat gold was priced at Rs. 262,345. The 22-Karat gold price …
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Prime Minister Shehbaz Sharif has set up a three-member inquiry committee to investigate alleged irregularities in the leasing of Port Qasim Authority (PQA) land. The decision follows claims by Senator Faisal Vawda that the land was leased at extremely low prices during the current government’s tenure. According to a notification from the Prime Minister’s Office, …
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The government is launching digital prize bonds to boost economic documentation and enhance transparency. The Finance Division has directed the Central Directorate of National Savings (CDNS) to introduce these paperless bonds, replacing discontinued bearer bonds. This shift will reduce fraud, improve security, and eliminate costs linked to printing and logistics. Secure and Risk-Free Investment Unlike …
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The Pakistan Stock Exchange (PSX) continued its bullish trend on Friday, driven by expectations of a policy rate cut and progress in circular debt restructuring. Investors showed confidence as the market rallied ahead of the State Bank of Pakistan’s (SBP) monetary policy announcement on March 10. Market Gains on Positive Sentiment The KSE-100 Index surged …
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The State Bank of Pakistan (SBP) is expected to announce its seventh consecutive rate cut on Monday as the country undergoes its first International Monetary Fund (IMF) review of a $7 billion bailout. With inflation at a near-decade low, analysts believe further easing is likely, which could help unlock additional IMF funding before the national …
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Karachi: Gold prices in Pakistan fell on Thursday, March 6, 2025, due to changes in the international market. The local bullion market recorded a significant drop in rates. Gold Prices Decline The price of 24-karat gold per tola decreased by Rs. 3,000, bringing it down to Rs. 304,000. Similarly, 10 grams of 24-karat gold fell …
Islamabad: Khushhali Microfinance Bank Limited (KMBL) has taken a major step toward expanding its Islamic banking services. The bank has partnered with Qazi Shariah Consultancy to strengthen its offerings in line with State Bank of Pakistan’s Vision 2028. The partnership supports the Federal Shariat Court’s decision to transition conventional banking into a Shariah-compliant financial system. KMBL …
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Pakistan is in discussions with Starlink to bring satellite-based internet to the country, aiming to enhance digital connectivity, especially in remote areas. Talks are progressing as authorities work on the regulatory framework required for the service’s official launch. PTA Engages with Starlink Pakistan Telecommunication Authority (PTA) Chairman Major Gen (retd) Hafeezur Rehman confirmed ongoing discussions …
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Gold prices in Pakistan saw a sharp increase on Wednesday, March 5, 2025, as reported by the All Pakistan Sarafa Gems and Jewellers Association. The surge reflects both local market trends and international gold fluctuations. Latest Gold Prices in Pakistan Gold per Tola (24K): Rs. 307,000 (+700) Gold per 30 Grams (24K): Rs. 263,203 (+601) …
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Pakistan Stock Exchange (PSX) welcomed a delegation from the Scientific Foundation for Financial Transactions (SFFT) Iraq to strengthen cooperation in Islamic finance. The meeting focused on enhancing Islamic capital markets and fostering financial innovation. Strengthening Ties in Islamic Finance A high-level Iraqi delegation of scholars visited the PSX to explore opportunities in Islamic finance. SFFT, …
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Global stock markets tumbled after the US imposed tariffs on imports from China, Canada, and Mexico. President Donald Trump announced 25% tariffs on Canadian and Mexican goods and 20% on Chinese imports, sparking fears of a trade war. In response, China and Canada retaliated with their own import taxes, while Mexico prepared countermeasures. Markets across …
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Pakistan is well positioned for the first review of its $7 billion IMF bailout, according to Finance Minister Muhammad Aurangzeb. As talks between the International Monetary Fund (IMF) and Pakistan begin, the government remains optimistic about meeting the programme’s conditions. The review will determine Pakistan’s progress and set the stage for future financial decisions. IMF …
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Gold prices have seen a significant increase, with the price of one tola gold rising by Rs. 1,500 in the local market. This surge has pushed the new price to Rs. 315,500 per tola, affecting both investors and jewelry buyers. Gold Prices Rise Across All Categories The price of 10 grams of gold has also …
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The State Bank of Pakistan (SBP) may announce a 50-basis-point (bps) interest rate cut in its upcoming Monetary Policy Committee (MPC) meeting on March 10, according to Arif Habib Limited (AHL). The falling inflation rate has created room for further monetary easing, but the central bank faces a delicate balancing act between economic growth and …
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In a relief for consumers, the fuel price reduction in Pakistan has been announced, cutting petroleum prices by up to Rs5.31 per litre for the next two weeks. The adjustment, effective immediately, follows a review by the Oil and Gas Regulatory Authority (Ogra) based on international market trends. The government also lowered liquefied petroleum gas …
Continue reading “Fuel Prices Reduced by Up to Rs5.3 Per Litre Amid Market Fluctuations”
