Initiative will save 360,000 litres of diesel imports annually, ease pressure on forex KARACHI: In a move towards industrial energy self-reliance, Pakistan’s HubSalt has signed a first-of-its-kind agreement with Chinese firm Livoltec to install a hybrid solar and battery storage system. The agreement was signed in Karachi by Hub Salt CEO Ismail Sattar and Livoltec’s…
Aurangzeb warns debt market has ‘gone into reverse gear’, calls for strategic reserves, green financing Finance Minister Muhammad Aurangzeb in an interview at the World Bank Spring Meetings 2026 with China Global Television Network’s program “The Heat”. PHOTO: SCREENGRAB ISLAMABAD: Minister for Finance and Revenue Senator Muhammad Aurangzeb on Wednesday termed the launch of the…
At current prices, the looted gold is worth around $70 million. PHOTO: PIXABAY Gold prices witnessed a sharp increase in both global and local markets on Thursday. In the international bullion market, the price of gold per ounce rose by $78, pushing the new global rate to $4,744. According to the All-Pakistan Gems and Jewellers…
Cheema assures World Bank of policy continuity, effective implementation of reforms ISLAMABAD: Federal Minister for Economic Affairs Ahad Cheema has assured the World Bank that the federal government is closely coordinating with all provincial governments to effectively implement the 10?year Country Partnership Framework (CPF) for Pakistan, which includes $20 billion for development projects and reform…
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 KARACHI: The Pakistan Stock Exchange (PSX) extended the bullish mode on Thursday, with the benchmark KSE-100 Index climbing more than 1,480 points in the first hours…
ISLAMABAD: Pakistan has assured the International Monetary Fund (IMF) to end untargeted electricity subsidies for all residential consumers and give any further subsidies only through the Benazir Income Support Programme (BISP) as part of conditions agreed for a $1.2 billion climate support loan. This will impact residential consumers having up to 300 units of monthly…
Iran renewed attacks on the United Arab Emirates on Tuesday, causing oil loading at the port of Fujairah to be at least partly halted after the third attack in four days. FILE IMAGE: PIXABAY Oil prices rose over $1 on Thursday, rebounding from the previous day’s sharp losses, as investors weighed the prospects of a…
Chinese consul says Gwadar to become regional trade hub as Iran lauds peace efforts LAHORE: China’s Consul General Sun Yan has said that CPEC 2.0 will focus on high-quality development, including industrialisation, agricultural modernisation, technological innovation, green growth and livelihood improvement, while highlighting Gwadar Port’s potential as a key regional trade hub. Speaking at a…
KARACHI: With growing hopes for a lasting peace agreement between the United States and Iran, the Pakistan Stock Exchange (PSX) on Wednesday staged a robust rally, during which it notched up gains of nearly 7,000 points, powered by deep investor interest in high-yielding stocks across the board. In the morning, the market commenced trading on…
KARACHI: The State Bank of Pakistan (SBP) has issued its annual flagship publication, the Financial Stability Review (FSR) for CY25, highlighting that the financial sector grew by 15.1% during calendar year 2025. The financial depth, measured by the assets-to-GDP ratio, increased to 67.1% while risks to financial stability subsided during the year. Banks’ balance sheet…