Aurangzeb said the Middle East conflict had not affected Pakistan’s external account, and even if the war continues during May-June, the country is on track to achieve this fiscal year’s current account deficit target. photo: file ISLAMABAD: State Bank of Pakistan (SBP) Governor Jameel Ahmad said on Wednesday that the central bank bought $27 billion…
Funding required to operationalise facilities in building taken over from S&T ministry ISLAMABAD: The Cannabis Control and Regulatory Authority (CCRA) plans to spend Rs200 million on the renovation of its building after taking over possession of the property housing the defunct Pakistan Council for Renewable Energy Technologies from the Ministry of Science and Technology. It…
KARACHI: The State Bank of Pakistan (SBP) reported a $23 million increase in its foreign exchange reserves during the week ended April 30, 2026, which reached $15.85 billion. The country’s total liquid foreign reserves stood at $21.29 billion, of which commercial banks held net reserves of $5.44 billion. Furthermore, the rupee saw a marginal gain…
Overall market participation was strong, as 1,066 million shares were traded with a total value of Rs. 49 billion. KEL led the volume chart, with 195.8 million shares..Photo: Express The Pakistan Stock Exchange (PSX) broke a positive streak during early trading on Friday, with the benchmark KSE-100 Index dropping more than 1,100 points before trading…
ISLAMABAD: Federal Minister for Petroleum Ali Pervaiz Malik met Saudi Ambassador Nawaf bin Said Al-Malki to discuss strengthening bilateral cooperation in the energy sector, according to a statement issued on Thursday. During the meeting, Malik expressed gratitude to the Kingdom of Saudi Arabia for its continued support in meeting Pakistan’s energy requirements. He particularly acknowledged…
An oil tanker anchors near the oil hub of the port of Fos-Lavera at sunset near Marseille, southern France. PHOTO: REUTERS Oil prices rose about 1% on Friday after renewed fighting broke out between the US and Iran, threatening a shaky ceasefire and dashing hopes for progress on a reopening of the Strait of Hormuz, a…
NA panel delays powers for banks to take over defaulter’s property after first notice ISLAMABAD: A National Assembly panel on Thursday deferred approval of a law that would empower banks to take over a property after 42 days of serving the first default notice and deprive the owner of legal relief without first satisfying the…
Highlights risks posed by highly interconnected nature of global financial system The International Monetary Fund (IMF) warned on Thursday of the risks to global financial stability posed by cyberattacks powered by advanced artificial intelligence tools, calling for greater international cooperation on the issue. “IMF analysis suggests that extreme cyber-incident losses could trigger funding strains, raise…
$243.63 million project will generate about 861.91 gigawatt-hours of electricity annually ISLAMABAD: The government has planned a 500 megawatt floating solar power project at Keenjhar Lake in Sindh to generate clean, renewable energy and reduce reliance on imported fossil fuels, according to official documents. The $243.63 million project will generate about 861.91 gigawatt-hours of electricity…
Amid low availability of 5G handsets in Pakistan, telecom companies are set to commercially roll out 5G services across the country by mid-August this year, allowing people to enjoy high-speed internet. Mobile phone operators have proposed that the government could launch an installment scheme for mobile phones with a condition that a defaulter will be…