Category: Business

ISLAMABAD, Sep 29 (APP):With the entrance of new player in online cab sector, the well-known companies like Careem and Uber would have to brace for more challenges due to their fast-losing popularity among commuters and poor operations. Recently, a ride-hailing service (Buraq Taxi) has entered the country’s market announcing 10 percent discount for students, teachers,… Continue reading Lackluster performance of old ride-hailing services gives space to new entrant

ISLAMABAD, Sep 29 (APP):Central Directorate of National Savings (CDNS) has said that the investors of Rs 40,000 prize bonds have withdrawn Rs180 billion by September 23, out of overall reserve of Rs 259 billion investments in CDNS in these prize bonds. After the decision taken by the Federal government, CDNS had discontinued the specific bond… Continue reading Rs 40,000 Prize Bonds Worth Rs 180 Billion Withdrawn By Sep, 23

ISLAMABAD, Sep 28 (APP):The government has released Rs275.639 million for various ongoing and new projects of Revenue Division under the Public Sector Development Programme (PSDP) for the current fiscal year (2019-20). The government, in its Federal PSDP, had earmarked Rs1918.238 million for the Revenue Division projects, with foreign exchange component of Rs250 million, according to… Continue reading Govt releases Rs 275.6m for Revenue Division projects

ISLAMABAD, Sep 28 (APP):Rice exports from the country during first two-month of current financial year grew by 48.64% as compared the exports of the corresponding period of last year. About 590,053 metric tons of rice valuing $322.836 million exported from July-August,2019 as compared the exports of 399,633 metric tons worth of $223.918 million of same… Continue reading Rice worth $322.836 million exported in two months

ISLAMABAD, Sep 27 (APP):Minister for Planning, Development and Reform Mukhdum Khusro Bakhtyar said that the incumbent Government has provided new impetus to accelerate the pace and implementation of China Pakistan Economic Corridor (CPEC) projects. He underlined that bottlenecks related to CPEC projects were being resolved on top priority for their timely completion. The Minister was… Continue reading CPEC related bottlenecks being resolved on priority: Khusro Bakhtyar

ISLAMABAD, Sep 27 (APP):Oil and Gas Regulatory Authority (OGRA) Friday forwarded a summary to the Petroleum Division to reduce prices of POL products for the month of October. As per the summary, the authority has suggested Rs3.23 decrease in per liter price of High Speed Diesel, Rs2.55 in Petrol (Motor Spirit) and Rs2.41 in Light… Continue reading OGRA suggests reduction in POL prices from Oct 1

ISLAMABAD, Sep 27 (APP):Pakistan Stock Exchange (PSX) Friday noted bullish trend as KSE 100 index bounced by 636.92 points (2.03%) to close at 32,070.81 points. A total of 135,161,710 shares were traded compared to the trade of 124,475,550 shares during the previous day, whereas the value of shares traded during the day stood at Rs… Continue reading PSX gains 636 points to close at 32,070 points

ISLAMABAD, Sep 27 (APP):The export of cement from the country during the first two months of current financial year 2019-20 witnessed decline of 13.16 percent as compared to the corresponding period of last Year. The cement export from the country was recorded at $42.150 million during July-August (2019-20) as against the export of $ 48.537… Continue reading Cement export declines 13pc to $42.150m: PBS

ISLAMABAD, Sep 27 (APP):Pakistan has emerged among top 20 reformers globally in Ease of Doing Business with six reforms, World Bank Country Director for Pakistan, Illango Patchamuthu, said on Friday. In a tweet, Illango Patchamuthu said, “We laud the collective action of Federal, Sindh, and Punjab governments for an impressive feat”. The Wold Bank will… Continue reading Pakistan emerges among top 20 reformers in ease of doing business: World Bank

KARACHI, Sep 27 (APP):Treasury Management Division of National Bank of Pakistan (NBP) on Friday issued the following exchange rates. CURRENCY SYMBOL TT Selling TT Buying U.S DOLLAR USD 156.50 156.00 EURO EUR 170.98 170.35 JAPANESE YEN JPY 1.4528 1.4481 BRITISH POUND GBP 192.96 192.32 SWISS FRANC CHF 157.47 156.94 CANADIAN DOLLAR CAD 117.95 117.54 AUSTRALIAN… Continue reading NBP Exchange Rates

ISLAMABAD, Sep 27 (APP):An high level delegation of Pakistan Furniture Council (PFC) Friday left for China on a 3-day visit to explore new markets and strengthen+ing existing bilateral trade relations with their counterparts in furniture industry during business to business contacts. Prior to leave, PFC Chairman Mian Kashif Ashfaq said in a statement that this… Continue reading A high level PFC delegation leaves for China to explore furniture markets

ISLAMABAD, Sep 26 (APP):The total liquid foreign reserves of country by September 20, was stood at US$15,772.6 million, where as the foreign reserves held by country was decreased by by US$135 million due to external debt payments. According to the break-up of the foreign reserves position issued by the State Bank of Pakistan on Thursday,… Continue reading Foreign exchange reserves stands at US$15,772.6m

ISLAMABAD, Sep 26 (APP):The exports of sports goods from the country witnessed decrease of 5.93 percent during the first two months of current financial year (2019-20) as against the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported. The country exported sports goods worth US $ 52.603 million during July-August (2019-20) against the… Continue reading Sports goods’ exports dip 5.93pc in two months

ISLAMABAD, Sep 26 (APP):Foreign capital inflows into Pakistan are expected to increase during the fiscal year 2019-20, Asian Development Bank (ADB) said in its latest report. According to ADB’s flagship economic publication, the Asian Development Outlook (ADO), the foreign direct investment should revive as investors’ confidence was restored with implementation of the International Monetary Fund… Continue reading FDI inflows into Pakistan likely to increase in FY2: ADB

ISLAMABAD, Sep 25 (APP):Minister for Economic Affairs, Hamad Azhar on Wednesday claimed that the number of tax filers in Pakistan would cross 5 million in next two years. The number of tax filers last year had increased to 2.6 million from 1.9 million, he said while talking to a private news channel. Referring to high… Continue reading Number of tax filers to cross 5 million in next two years: Hamad Azhar

LAHORE, Sep 25 (APP):The State Bank of Pakistan (SBP) categorically denied and rejected the media reports regarding unavailability of the record of old design Rs 500 bank notes demonetized in October 2012. A news item appeared in a section of media regrading unavailability of record pertaining to destruction of old design Rs.500 banknotes, the central… Continue reading SBP rebuts news item

ISLAMABAD, Sep 25 (APP):Economic growth in developing Asia remains robust but prospects have further dimmed and risks to the region’s economies are rising as trade and investment weaken, according to Asian Development Outlook (ADO) 2019 Update, the Asian Development Bank’s (ADB) flagship economic publication. The report forecasts economic growth in the 45 countries of developing Asia… Continue reading Asia’s economic outlook dims as trade and investment weaken: ADB

KARACHI, Sep 25 (APP):Treasury Management Division of National Bank of Pakistan (NBP) on Wednesday issued the following exchange rates. CURRENCY SYMBOL TT Selling TT Buying U.S DOLLAR USD 156.50 156.00 EURO EUR 172.20 171.60 JAPANESE YEN JPY 1.4588 1.4540 BRITISH POUND GBP 195.10 194.47 SWISS FRANC CHF 158.54 158.02 CANADIAN DOLLAR CAD 118.06 117.67 AUSTRALIAN… Continue reading NBP Exchange Rates