The State Bank of Pakistan’s (SBP) Monetary Policy Committee (MPC) on Monday kept the interest rate unchanged at 11.5 per cent. The decision was announced by SBP Governor Jameel Ahmed during a press conference. At the outset of the press conference, the governor said, “MPC has decided to keep the policy rate unchanged at 11.5pc”. […]
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The Pakistan Stock Exchange’s (PSX) benchmark index opened the week on a strong note, gaining more than 7,000 points to close above the 178,000-point threshold on Monday. The KSE-100 index had gained 4,501.33 points to reach 175,522.53 points by 9:50am from the previous close of 171,021.20 points. By 3:09pm, the index had gained 7,081.19 points […]
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Oil prices tumbled more than six per cent on Monday after the US and Iran paused strikes over the weekend after two weeks of attacks, raising hopes of a diplomatic solution that would de-escalate the conflict and allow shipping to resume in the Strait of Hormuz. Brent crude futures fell $6.20, or 6.4pc, to $90.58 […]
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LAHORE: Cotton industry is facing mounting pressure amid allegations that large quantities of fabric imported from China under the Export Facilitation Scheme (EFS) are being diverted to the open market after under-invoicing while widespread rains and looming floods threaten to inflict fresh damage on the standing cotton crop. Cotton Ginners Forum Chairman Ihsanul Haq warned […]
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https://www.dawn.com/news/2018654
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Flood season has formally begun in the country, and water flows at Sindh’s barrages, which until recently had been reporting severe shortages, have improved. Yet, the tail-end areas of lower Sindh have, ironically, remained underserved, leaving farmers short of water. The situation perhaps merits a fair internal audit of water governance by the provincial irrigation […]
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https://www.dawn.com/news/2018390/govt-speeds-up-fbr-reforms-cashless-economy-drive
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WASHINGTON: Elon Musk’s tunnel construction startup, the Boring Company, is in talks to raise new funding that would value it at about $20 billion, the Wall Street Journal said, citing people familiar with the talks. Musk, whose business interests include Tesla, SpaceX and Neuralink, founded the company to develop tunneling technology and transport systems to […]
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