Govts should assist low-income families instead of subsidising energy: WB president David Malpass says governments should use technology to track those in need and provide them financial benefits. Published 26 May, 2022 11:16pm
Forex SBP's reserves fall another $75mn, now stand at $10.09bn Total liquid foreign reserves stood at $16.15 billion as of May 20 Published 26 May, 2022 08:55pm
Stocks TSX extends rally as energy, industrial shares gain Canada’s main stock index extended gains for the fifth straight session on Thursday, aided by energy and industrial... Published 26 May, 2022 08:15pm
Stocks Wall Street climbs 1% on upbeat results, Fed relief U.S. stock indexes climbed on Thursday after upbeat annual forecasts from several retailers, while data confirmed... Published 26 May, 2022 08:13pm
USA US weekly jobless claims fall; corporate profits sag in first quarter WASHINGTON: The number of Americans filing new claims for unemployment benefits fell more than expected last week as... Published 26 May, 2022 07:04pm
Companies Alibaba beats revenue estimates on demand for niche China shopping services Alibaba Group Holding Ltd on Thursday beat expectations for fourth-quarter revenue, as growing demand for some of ... Published 26 May, 2022 06:27pm
Money & Banking VTB says Russian banks could get $52bn boost if country ditches Basel rules Russia’s banks could get a 3.3 trillion rouble ($52 billion)capital boost if the central bank ditches Basel capital... Published 26 May, 2022 06:21pm
Money & Banking Turkey’s central bank holds rate at 14% despite lira slide, soaring inflation ISTANBUL: Turkey’s central bank held its policy rate at 14% for a fifth straight month on Thursday as expected, even... Published 26 May, 2022 06:09pm
UK announces 25% windfall tax on energy producers’ profits LONDON: Britain announced a 25% windfall tax on oil and gas producers’ profits on Thursday, alongside a 15 billion... Published 26 May, 2022 05:45pm
Companies Chipmaker Broadcom to buy cloud services firm VMware in $61bn deal Broadcom Inc said on Thursday it will acquire cloud computing company VMware Inc in a $61 billion cash-and-stock... Published 26 May, 2022 05:41pm
Companies Avaya announces Pronet as its first IVR DevConnect partner in Pakistan KARACHI: Pronet (Pvt.) Limited, an industry leading systems integration, solution provider, and business ... Published 26 May, 2022 05:06pm
Europe Russia prepares to seize western firms looking to leave Russia is advancing a new law allowing it to take control of the local businesses of western companies that decide... Published 26 May, 2022 04:12pm
Energy Pakistan eyes 'most favourable' LNG agreement with countries including Russia Ministry of Energy's statement comes as country continues to battle an energy shortage Updated 26 May, 2022 06:51pm
Money & Banking Russian central bank slashes rates, flags more cuts Russia’s central bank lowered its key interest rate to 11% at an off-schedule meeting on Friday and said it saw room... Published 26 May, 2022 01:18pm
Stocks KSE-100 gains 1.26% even as IMF programme remains stalled Market sentiment turns positive after PTI decides to call off long march Updated 26 May, 2022 05:40pm
Forex Against USD: Rupee recovers from intra-day low, closes marginally weaker at 202.01 This is the currency's 16th successive fall in the inter-bank market Updated 26 May, 2022 06:23pm
Companies China’s Lenovo posts 6.8% rise in Q4 revenue HONG KONG: China’s Lenovo Group posted a 6.8% rise in fourth-quarter revenue, its slowest growth in seven quarters,... Published 26 May, 2022 11:59am
Business & Economy Govt committed to reviving IMF programme, says Miftah after talks end Finance minister says IMF team emphasised the importance of rolling back fuel and power subsidies Published 26 May, 2022 10:46am
Energy Oil jumps 3% to 2-month high as EU seeks to ban Russian crude NEW YORK: Oil prices rose about 3% to a two-month high on Thursday on signs of tight supply ahead of U.S. summer... Updated 26 May, 2022 10:18pm
Commodities Pakistan's mango production to fall by 50% due to heatwave, water shortage KARACHI: Pakistan's mango production is expected to decline by around 50% this year, as the crop has been severely... Updated 26 May, 2022 10:49am
Taxes Undocumented sectors: FBR to conduct physical survey of retailers ISLAMABAD: The Federal Board of Revenue (FBR) will conduct physical surveys of retailers operating in the... Published 26 May, 2022 07:13am
Industry Iran and Russia eye more cooperation in energy, trade TEHRAN: Tehran and Moscow are seeking to expand cooperation in energy and trade, officials said Wednesday, as ... Published 26 May, 2022 07:13am
Bilawal says $6bn IMF deal is ‘outdated’ DAVOS: An ongoing bailout deal between Pakistan and the International Monetary Fund (IMF) is “outdated” given a... Published 26 May, 2022 06:24am
Address to Sindh investment moot in Davos: Murad identifies areas of investment in Sindh DAVOS: Sindh Chief Minister Syed Murad Ali Shah has said that the potential projects for investment in the province... Published 26 May, 2022 06:19am
Industry NKATI chief for bringing down policy rate to single digits KARACHI: Chief of the North Karachi Association of Trade and Industry (NKATI) Faisal Moiz Khan has appealed to... Published 26 May, 2022 06:19am
Industry ‘Boosting exports main aim of EFS’ KARACHI: The primary aim of export finance scheme (EFS) is to boost the country’s exports. The EFS is a policy... Published 26 May, 2022 06:19am
‘D-8 summit to be held in July’: FPCCI bemoans low trade volume among D-8 member countries KARACHI: President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Irfan Iqbal Sheikh has... Published 26 May, 2022 06:19am
Injection of Rs1.4bn in HBL Asset Management Co approved KARACHI: Habib Bank Limited (HBL) has received the approval from State Bank of Pakistan (SBP) on its proposal for... Published 26 May, 2022 06:19am
Money & Banking SCBL launches Futuremakers Inclusive Employability project KARACHI: Standard Chartered Bank Private Ltd (SCBL) has launched the Futuremakers Inclusive Employability project... Published 26 May, 2022 06:19am
Reshuffle in FBR ahead of budget ISLAMABAD: The Federal Board of Revenue (FBR) has transferred and posted four senior officers of Pakistan Customs... Updated 26 May, 2022 06:30am
Road blockades cost kitty Rs100bn-150bn per day: economists ISLAMABAD: The estimated loss to the national economy is around Rs100-150 billion per day on account of country-wide... Published 26 May, 2022 05:26am
Taxes Rs 252 m collected during E&T dept’s drive KARACHI: Sindh Minister for Excise, Taxation and Narcotics Control Mukesh Kumar Chawla has said his department’s... Published 26 May, 2022 05:26am
Taxes FTO urges retailers to help FBR document economy ISLAMABAD: The Federal Tax Ombudsman (FTO) has advised the traders, retailers to voluntarily come forward to accept... Published 26 May, 2022 05:26am
Money & Banking Rouble falls from 4-year high vs dollar MOSCOW: The Russian rouble fell sharply past 60 to the dollar from its strongest level in more than four years in... Published 26 May, 2022 05:26am
Money & Banking Dollar rises off of 1-month low ahead of Fed minutes NEW YORK: The US dollar snapped a two-day losing streak on Wednesday ahead of the release of the minutes from the US... Published 26 May, 2022 05:26am
Money & Banking BankIslami launches Digital Service Centre KARACHI: BankIslami has launched its state-of-the-art Digital Service Centre for an improved customer experience.... Published 26 May, 2022 05:26am
Industry Session held at SCCI: Call for protecting rights of working women, implementation of relevant laws PESHAWAR: Representatives of a civil society organisation called for protecting the rights of the working women in... Published 26 May, 2022 05:26am
Money & Banking Sterling up vs euro, flat vs dollar LONDON: Sterling was flat against the dollar and rose against the euro on Wednesday, having briefly lost ground... Published 26 May, 2022 05:26am
Money & Banking Canadian dollar hits 6-day low TORONTO: The Canadian dollar weakened to its lowest level in nearly one week against its US counterpart on Wednesday... Published 26 May, 2022 05:26am
Industry KP-BOIT, ICCI discuss steps aimed at promoting trade in KP PESHAWAR: A high-level delegation of the Khyber Pakhtunkhwa Board of Investment & Trade (KP-BOIT) led by Chief... Published 26 May, 2022 05:26am