Petrol crisis to hit Pakistan by mid-Feb, refineries warn
KARACHI: Refineries warned of looming petrol crisis by mid-February if government fails to resolve payments issues of imported raw materials and additives needed by sector. Delay in payments of raw materials and additives as well as dollar shortage h...
Flynas launches electronic service of ‘stopover visa’
KARACHI: flynas Saudi air carrier and leading low-cost airline in Middle East announced that its passengers can apply for an electronic Stopover Visa through its website. ‘Stopover Visa’ is issued after purchasing airline ticket and valid...
KSE-100 Index falls over 725pts
Karachi: Negative sentiments prevailed at Pakistan Stock Exchange (PSX), as benchmark KSE-100 Index fell over 700 points as Pakistan and International Monetary Fund failed to reach staff level agreement for next tranche of loan. By the end of day, KS...
Companies pause operations as economic conditions worsen
Karachi: Deteriorating economic conditions in country continued to bite industries, with several companies announcing they would be halting operations. Khalid Siraj Textile Mills Limited announced that its management has decided to shut mill operatio...
Domestic unit gains value against dollar in interbank
Karachi: Rupee registered gains against dollar appreciating 0.46 percent in inter-bank market during trading even as expectations that deal would be finalised with IMF to revive its bailout programme fell flat. As per State Bank of Pakistan currency...
Mastercard, Network Int’l launch new AI fraud-prevention solution
Karachi: Mastercard announced that it is partnering with Network International, leading enabler of digital commerce across Middle East and Africa to address fraud, declines and chargebacks in order to reduce costs and risk for acquirers. Through part...
KSE-100 closes in green, rises by 700pts
Karachi: Pakistan Stock Exchange (PSX) KSE-100 Index rose over 700 points amid hopes that much-needed International Monetary Fund (IMF) programme will be revived soon. In addition, ongoing recovery in rupee against dollar further aided rise. By end o...
Hoarded petrol worth Rs300m seized in Sheikhupura
LAHORE: Following directions by Punjab Chief Minister Syed Mohsin Raza Naqvi to launch crackdown against petrol hoarding mafia, police seized hoarded oil worth Rs 300 million from three different areas of Sheikhupura, according to report yesterday. A...
Rupee gains value by Rs 2.82 against dollar
ISLAMABAD: Exchange rate of rupee strengthened by Rs 2.82 against dollar in interbank trading yesterday and closed at Rs 270.50 against previous day’s closing of Rs 273.32. According to Forex Association of Pakistan buying and selling rates of...
Pulses’ prices decline as containers get clearance at Karachi Port
LAHORE: Prices of pulses have been slashed in city by rupees ranging from 20 to 25 per kg following release of as many as 2,000 containers of pulses stuck at Karachi Port according to report. Availability of pulses has significantly improved, accordi...
