Gong Ceremony on Listing of Preference Shares of Engro Polymer & Chemicals Limited

Karachi: In an exciting development at Pakistan Stock Exchange, a Gong Ceremony was held to mark the listing of preference shares of Engro Polymer & Chemicals Limited (EPCL). The said listing which brings forth a new investment opportunity from EPCL, took place on 31st December, 2020. To open the trading day, the gong was struck …

Ogra denies rumors about rise in petrol prices

The Oil and Gas Regulatory Authority (Ogra) denied news making rounds on media on Thursday about recommending the government to increase in petrol prices. “Reports that are spreading on media relating to the rise in prices of petroleum products are uncorroborated,” clarified a spokesperson. The sources in the petroleum division informed that Ogra has proposed …

SBP voted as the best central bank for promoting Islamic finance

Karachi: State Bank of Pakistan (SBP) has been voted as the Best Central Bank in promoting Islamic finance for the fourth time by a poll conducted by Islamic Finance News (IFN), REDmoney Group Malaysia, today. This is the second international award bestowed upon SBP for Islamic Banking during FY2021. Earlier the Global Islamic Finance Awards …

Who is World’s richest, Jeff Bezos or Elon Musk?

Elon Musk returned the crown of being the world’s richest man to the CEO of Amazon Jeff Bezos when the founder of Tesla lost $13.5 billion in a day. However, the story took a surprising turn. the founder of Tesla and SpaceX surpassed Jeff Bezos on January 7 and became the wealthiest person on the …

Byco Begins Civil Works On FCC, DHDS Units

Karachi: Byco Petroleum Pakistan Limited, Pakistan’s largest oil refining company, reached a key milestone in its Upgrade 1 project by beginning civil works construction on 9th January 2021 at the site earmarked at its refining complex for the construction of the project. In an Extraordinary General Meeting held on 2nd April 2020, Byco had announced …

Cryptocurrency down by 200 billion in 24 hours

Karachi: The deliberate decline in the market value of cryptocurrency by 200 billion in 24 hours. Market analysts have called the decision “risky” for investors. According to Forbes Magazine, 200 billion has been wiped off from the market in the last 24 hours. The decline was recorded after the cryptocurrency’s market value rose 100 percent …

Saudi Arabia announces new petrol prices

Karachi: Saudi Aramco has issued new rates for January 2021 with the increase in petrol prices. According to the new rates released by Saudi Aramco, the rate of 91 petrol has been fixed at 1.62 riyals per liter while the price of octane 95 has been fixed at 1.75 riyals per liter. The new prices …

Export of kinnow suspends due sit –ins of protesters at different places in Karachi

The exporters are likely to face huge financial losses due to the inaccessibility of export containers of kinnow to the seaport. According to reports, 400 export containers of kinnow worth USD 4.6 million are standing still awaiting transportation to the seaport. If the reefer containers are not supplied with electricity to maintain the specific temperature, …

Bitcoin is sold more than $35,000 for the first time in Asia

Karachi: Bitcoin, rises to $35,879 on Wednesday, was trading above $35,000 for the first time in Asia. The world’s most famous cryptocurrency, on Dec 16, 2020, had reached $20,000 for the first time almost three weeks earlier. Bitcoin hit a peak of $20,800 and gained 170pc or more for the year 2020 which remained in …

Further rise in the value of the dollar

Karachi: The dollar rose on the second day of the trading week in the interbank market. Interbank closing #ExchangeRate for today: https://t.co/T7wicZAxHH pic.twitter.com/tE3s89hrFC — SBP (@StateBank_Pak) January 5, 2021 According to the report released by the State Bank of Pakistan (SBP), the value of the dollar has risen by 35 paise in the interbank market. …

Rupee surges against the dollar over the past week

Karachi: In the open market, the dollar has depreciated by 20 paise in a week. In the open market, the dollar has fallen from 160.50 to 160.30 during the week. According to the weekly report of the dollar, it has been decreased by 49 paise in the interbank market. The dollar fell from Rs 160.32 …

Severe measures to be taken against the elements involved in oil smuggling

Karachi: Prime Minister Imran Khan has said that strict measures should be taken against the elements involved in oil smuggling. According to details, a high-level meeting on anti-trafficking measures was held under the chairmanship of Prime Minister Imran Khan. During the briefing, it was said that the sale of smuggled oil is causing an annual …

Pakistan to develop its own Male UAV (Drone)

Karachi: The news about developing the Male UAV (Drone) here in Pakistan is circulating. In the introduction ceremony of the Pakistan Air Force, the information about is making rounds on social media that Male UAV (Drone) will be locally developed like the previous two Armed drones in the Project of Azm. In the recent pictures …

IKEA to enter Pakistani market

Karachi: IKEA, a famous furniture retail company, is all set to come to Pakistan in the coming months. IKEA is ready to launch its cost-effective product range to the Pakistani market. The multinational empire is notorious for its customer-friendly furniture and distinct designs. A Pakistani ambassador, Mohammad Faisal, announced the news of IKEA ready to …

The FPCCI’s annual election for 2021 has begun

Karachi: Voting for the FPCCI’s annual election for 2021 has begun. A total of 374 voters will cast their votes in the elections. The polling is going on till 5 pm. Sheikh Khalid Tawab is the joint candidate of United Business Group and National Business Group in the election while Mian Nasir Hayat is the …

The federal government has increased the price of electricity

Karachi: The federal government has increased the price of electricity by 18 paisa per unit. The Power Division has issued a notification to increase the price of electricity, according to which the average electricity tariff has been increased from Rs 13.35 paise to Rs 13.53 paise per unit. The increase in electricity prices was in …

Prices of petroleum products are to increase by Rs 4

Karachi: Prices of petroleum products in Pakistan are likely to go up by Rs 4 in the wake of rising crude oil prices in the global market. According to sources, the Oil and Gas Regulatory Authority (OGRA) has begun working on the prices of petroleum products shortly after the rise in crude oil prices. Sources …

Dollar value Spikes

Karachi: The dollar rose on the first day of the trading week on the interbank market. According to the data released by the State Bank of Pakistan, the value of the dollar in the interbank market has increased by 6 paisa. Interbank closing #ExchangeRate for today: https://t.co/McjMBAw7UT pic.twitter.com/SdOJPHvTnS — SBP (@StateBank_Pak) December 28, 2020 According …

Instruction to open CNG stations

Karachi: A directive has been issued to open CNG stations in Karachi from today. According to the details, the schedule of gas shutdown in Karachi has been changed. The instructions have been issued to open CNG stations as per new schedule in Karachi from Monday 28 December. According to Sui Gas Administration, all RLNG and …

PFVA’s Delegation holds a meeting to address several challenges in the export

Karachi: The All Pakistan Fruit & Vegetable Exporters, Importers & Merchants Association’s (PFVA) Delegation discussed the challenges relating to the export of fruits and vegetables in general and orange in particular. PFVA, in the meeting, highlighted challenges posed in Trade with Afghanistan, Indonesia, and Iran. A delegation of Pakistan Fruit and Vegetable Exporters Association led …

The prices of essential food items have dropped significantly, Abdul Hafeez Shaikh

Karachi: The Finance Ministry, Abdul Hafeez Shaikh, says that the rate of inflation has been steadily declining for the last four weeks. According to a statement issued by the Ministry of Finance, a meeting of the National Monitoring Committee chaired by Finance Minister Hafeez Sheikh has taken notice of the increased prices of eggs and edible …

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