President urges foreign investors to benefit from pro-investment policies
ISLAMABAD: President Dr Arif Alvi said as Pakistan offered investment friendly environment, foreign investors should benefit from its pro-investment policies. Talking to delegation of Chinese Company Easyway Innovation Technology Company Ltd led by C...
Wants US to restore military financing, sales for Pakistan: Pak envoy
WASHINGTON: Ambassador to United States Masood Khan said it was important that US restores for Pakistan Foreign Military Financing and Foreign Military Sales, suspended by previous administration. Addressing conference on “Future of Pakistan-US...
Rupee inches up, settles at 283.84 against dollar
Karachi: Rupee registered marginal increase against dollar, settling with an appreciation of 0.03 percent during trading session. According to State Bank of Pakistan (SBP), domestic unit closed at 283.84, an increase of 0.08 paisa. Rupee sustained lo...
KSE-100 inches upward on banks scrips
Karachi: Pakistan Stock Exchange (PSX) and KSE-100 Index rose 0.28 percent on back of alleviation of political tensions and encouraging financial results. Government and Pakistan Tehreek-e-Insaf began negotiations , raising expectations of resolution...
President calls for increased cooperation with Iran, Romania
ISLAMABAD: President Dr. Arif Alvi called for boosting cooperation with Iran and Romania in all areas of mutual interest. In separate meetings with envoys of Iran and Romania here at Aiwan-e-Sadr President said that Pakistan greatly valued its frater...
IMF ‘awaits clarity’ on petrol subsidy scheme
ISLAMABAD: International Monetary Fund (IMF) is awaiting clarity on petrol subsidy scheme as Pakistani authorities have not yet withdrawn proposed cross-fuel subsidy scheme in writing to Fund, reports media outlet. Scheme is being regarded as one of...
SBP releases $50m for govt Hajj scheme
KARACHI: State Bank of Pakistan (SBP) released first tranche of $ 50 million to Pakistani Hajj Mission in Saudi Arabia for government Hajj scheme 2023. As per sources within Ministry of religious affairs, government was asked to provide $ 213 million...
PSO’s earnings plunge 68pc in 3QFY23
Despite higher sales, profit-after-tax (PAT) of Pakistan State Oil Company Limited (PSO) plunged 68 percent, clocking in at Rs 12.54 billion for third quarter of fiscal year 2023 (January-March 2023), compared with PAT of Rs 39.28 billion reported in...
OGDC’s PAT jumps 50pc YoY in third quarter
Oil and Gas Development Company’s (OGDC) saw its profit jump by 50 percent to Rs 64.627 billion in third quarter of fiscal year that ended March 31, 2023, due to spike in oil prices and rupee depreciation. Company registered profit of Rs 43.16...
HBL’s Jan-Mar PBT rises to Rs21.5bn
Karachi: Habib Bank Limited (HBL) declared record quarterly earnings in January-March quarter with profit before tax (PBT) of Rs 21.5 billion, 47 percent higher than PBT of Rs 14.6 billion last year, stated press release. “This strong performan...
