BUSINESS

PSX witnesses bearish trend, loses 444 points

BUSINESSUpdated:May 3, 2024ShareTwitter FacebookEmailLink

" PSX witnesses bearish trend, loses 444 points - Daily Times …

Ethiopia land of opportunities, right time for economic collaboration: Envoy

BUSINESSUpdated:May 3, 2024ShareTwitter FacebookEmailLink

" Ethiopia land of opportunities, right time for economic collaboration: Envoy - Daily Times …

The reserves of the State Bank became 8 billion 6 thousand dollars

BUSINESSUpdated:May 2, 2024ShareTwitter FacebookEmailLink

" Reserves of State Bank of Pakistan increased to 8 billion 6 thousand dollars. In the statement issued by the State Bank, it is said that the deposits of the State Bank increased to 8 billion 6 thousand dollars, while the deposits of other banks increased by 1 million 10 million dollars and the deposits…

Pakistan’s trade deficit widens by 3pc amid exports fall

BUSINESSUpdated:May 2, 2024ShareTwitter FacebookEmailLink

" KARACHI: The trade deficit of Pakistan witnessed a surge of three percent month-on-month in April, climbing to 2.37 billion dollars compared to March 2024, ARY News reported on Thursday, quoting the Pakistan Bureau of Statistics (PBS). As per the PBS data, the government failed to increase the exports and experienced a nine percent decline…

PSX witnesses bearish trend, loses 444 points

BUSINESSUpdated:May 2, 2024ShareTwitter FacebookEmailLink

" ISLAMABAD (APP) - The 100-Index of the Pakistan Stock Exchange (PSX) witnessed bearish trend on Thursday, shedding 444.91 points, a negative change of 0.63 percent, closing at 70,657.64 points against 71,102.55 points the previous trading day. A total of 436,993,041 shares valuing Rs 19.024 billion were traded during the day as compared to…

SIFC results, ten billion dollar deals with six countries

BUSINESSUpdated:May 2, 2024ShareTwitter FacebookEmailLink

" Islamabad (Zahid Gushkuri, Head Hum Investigation) Under the umbrella of Special Investment Facilitation Council (SIFC), work has started on 37 new projects worth billions of dollars in 6 sectors. SIFC is cooperating in a total of 106 projects, while Pink Salt's $200 million contract has also been signed with American company Miracle Salt.…

Inflation decelerates further to 17.3 percent in April

BUSINESSUpdated:May 2, 2024ShareTwitter FacebookEmailLink

" ISLAMABAD (APP) - The Consumer Price Index (CPI)-based inflation came down to 17.3 percent during the month of April 2023 as compared to 20.7 percent recorded during March 2023, the Pakistan Bureau of Statistics (PBS) reported on Thursday. According to the PBS data, the CPI based inflation during the same month of last…

A bag of 10 kg flour became 1200 rupees

BUSINESSUpdated:May 2, 2024ShareTwitter FacebookEmailLink

" In the federal capital Islamabad, the price of a 10 kg bag of flour has reduced greatly. According to sources, a 10 kg bag of flour has become cheaper by Rs 270, after which the new price has come to Rs 1,200. Earlier, a 10 kg bag was selling at Rs 1,470. The announcement…

Pakistan paid Rs5.517 trln in debt servicing during July-March

BUSINESSUpdated:May 2, 2024ShareTwitter FacebookEmailLink

" The federal government’s fiscal woes have multiplied, as Pakistan paid Rs5.517 trillion in debt servicing in the first nine months of the FY2023-24, ARY News reported on Thursday, quoting an official document of the finance ministry. According to the fiscal operation report released by the finance ministry, Pakistan paid Rs4807 bln in domestic debt…

Pakistan’s inflation drops to lowest level in two years

BUSINESSUpdated:May 2, 2024ShareTwitter FacebookEmailLink

" ISLAMABAD: Pakistan’s headline inflation clocked in at 17.3% on a year-on-year basis in April, the Pakistan Bureau of Statistics (PBS) said on Thursday. “This is the lowest reading in the last 23 months (after May 2022),” said Mohammed Sohail, CEO Topline Securities, in a note. In its monthly report, the ministry said the inflation…

Gold rates in Pakistan today; April 24 2024

Gold rates in Pakistan today; May 2 2024

BUSINESSUpdated:May 2, 2024ShareTwitter FacebookEmailLink

" ISLAMABAD: The per tola rate of 24 karat gold decreased by Rs 900 and was sold at Rs 241,000 on Thursday compared to its sale at Rs 241,900 on last trading day, ARY News reported. The price of 10 grams of 24 karat gold also decreased by Rs 771 to Rs 206,619 from Rs…

Start working on the budgeting strategy, achieving 6 major goals as the focal point

BUSINESSUpdated:May 2, 2024ShareTwitter FacebookEmailLink

" The federal government has decided to complete the work on the budget targets by the middle of this month before the arrival of the IMF mission and in this regard the Prime Minister's Office has also assigned the target of completing the budget working to the economic team. . According to the sources, work…

Bitcoin’s worst drop in value since 2022

BUSINESSUpdated:May 2, 2024ShareTwitter FacebookEmailLink

" Bitcoin fell for a third straight day on Wednesday, marking its worst monthly level since late 2022. Analysts say that ahead of the US Federal Reserve's decision to raise interest rates, investors have largely withdrawn their funds from Bitcoin. 20 rupees increase in the price of first grade oil and ghee in the open…

Optimizing Molasses Utilization at New Dadu Sugar Mills

BUSINESS, PAKISTAN, SCIENCE & TECHNOLOGYUpdated:May 2, 2024ShareTwitter FacebookEmailLink

Molasses, a byproduct of sugar production, holds significant untapped potential for value addition and revenue generation. Recognizing this, New Dadu Sugar Mills has embarked on a journey to optimize the utilization of molasses, turning what was once considered waste into a valuable resource. Through strategic initiatives and innovative approaches, the mill aims to maximize the…

Initial report ‘reveals’ shocking details

BUSINESSUpdated:May 2, 2024ShareTwitter FacebookEmailLink

" LAHORE: The initial report of the probe regarding the wheat import scandal revealed shocking details, ARY News reported citing sources. According to sources, the initial report stated that the federal institutions are responsible for the unnecessary import of wheat. Despite existing reserves of 40.47 lakh metric tons in Punjab, an additional 35.87 lakh…

Pak Suzuki latest car prices after massive decrease

BUSINESSUpdated:May 2, 2024ShareTwitter FacebookEmailLink

" In a major development, Pak Suzuki Motor Company on Thursday announced a price decrease of up to Rs710,000 on car models with effect from May 1, 2024. Pak Suzuki Motor Company has announced Rs710,000 reduction in car prices on its Swift models. The company said in a notice that the new price is effective…

Oil smugglers, officials connive

BUSINESSUpdated:May 2, 2024ShareTwitter FacebookEmailLink

" ISLAMABAD: Intelligence agencies have unearthed a racket involving 738 petrol filling stations, smugglers and officials, who collaborated to smuggle the Iranian petroleum products, inflicting an annual loss of Rs227 billion to the national exchequer. Some 533 petrol pumps, 100 corrupt officials and 105 Iranian oil smugglers are part of this racket, who have indulged…

Cement makers decry poor law and order

BUSINESSUpdated:May 2, 2024ShareTwitter FacebookEmailLink

" LAHORE: Cement manufacturers have expressed serious concern over the “deteriorating law and order situation”, which is putting at stake their heavy investment in expansion of production capacity. “Law and order situation in Dera Ismail Khan, Dera Ghazi Khan, Kohat, Mianwali and adjacent areas has jeopardised day-to-day operations of cement units there,” said a spokesman…

PKR slips 0.13pc in April to snap 4-month winning spree vs USD

BUSINESSUpdated:May 2, 2024ShareTwitter FacebookEmailLink

" PKR slips 0.13pc in April to snap 4-month winning spree vs USD - Daily Times …

Transformative Impact: Omni Group’s Acquisition of New Dadu Sugar Mills

BUSINESS, ENTERTAINMENT, HEALTH, INTERNATIONAL, PAKISTAN, SCIENCE & TECHNOLOGYUpdated:May 2, 2024ShareTwitter FacebookEmailLink

In the annals of industrial revitalization, few stories shine as brightly as the transformation of New Dadu Sugar Mills, situated in the picturesque District Dadu, Sindh. Once a dormant relic of the past, this sugar mill has emerged as a symbol of resurgence and innovation, thanks to the visionary leadership of Omni Group. New Dadu Sugar…

SRB tax collection surges to Rs185.2 bln in FY2024

BUSINESSUpdated:May 2, 2024ShareTwitter FacebookEmailLink

" Sindh Revenue Board (SRB) has collected Rs185.2 billion during the first nine months of fiscal year 2023-24, showing an increase of 29 per cent over the corresponding period of last year. Chairman SRB Wasif Memon called on Sindh Chief Minister Syed Murad Ali Shah and briefed him about the revenue collections of the SRB,…

the regulatory regime has drastically improved over a decade or so right now everyone has access to information via prompt dissemination of company results and material notices on the psx photo reuters

PSX top firms see 25% profit rise

BUSINESSUpdated:May 2, 2024ShareTwitter FacebookEmailLink

" KARACHI: The top 100 performing companies listed on the Pakistan Stock Exchange (PSX) have reported a 25% increase in their net profit to Rs1.3 trillion in the first nine months of the current fiscal year 2023-24 compared to the same period last year. This surge in profit coincides with Pakistan’s stock market becoming the…

Mega Cotton Seminar held in Bahawalpur

BUSINESSUpdated:May 2, 2024ShareTwitter FacebookEmailLink

" Mega Cotton Seminar held in Bahawalpur - Daily Times …

Ministry mulls adding dates on cement bags

BUSINESSUpdated:May 2, 2024ShareTwitter FacebookEmailLink

" ISLAMABAD: The Ministry of Science and Technology has decided to forward the Competition Commission of Pakistan’s (CCP) proposal for revising national cement standards regarding the disclosure of “manufacturing/expiry dates” on cement bags to the PSQCA for deliberation in the Technical Committee. A CCP team, led by Member OFT Saeed Ahmad Nawaz, conducted a follow-up…