Cash-strapped Pakistan plans to place its first order for Russian crude oil next month and it will take about four weeks for the commodity to reach the country, Minister of State for Petroleum Musadik Malik said. Pakistan, which is currently grappling with high external debt and a weak local currency, is desperate to purchase cheap [...]
Pakistan on Sunday clarified that it never sent any merchandise to Israel following reports of its food products landing in the Jewish state. The country faced a backlash after Pakistani-Jewish businessman Mr. Fishel BenKhald posted on social media a picture of Pakistani products in Israel. It created a storm and the opposition Pakistan Tehreek-e-Insaf party [...]
Equity market witnessed volatile trade on Monday morning, with benchmark indices Sensex and Nifty declining amid mixed trend in Asia and concerns over the inflation trajectory. As the market swung between positive and negative territories in early trade, the 30-share Sensex fell 53.63 points or 0.09 per cent to 58,937.89 points. The 50-share Nifty dropped [...]
The first stock of eggs imported from India by Sri Lanka was distributed to the crisis-hit island nation's market, with one egg costing Rs 35 to bakery owners, a media report said on Friday. Sri Lanka imported two million eggs from India to ensure food security in the crisis-hit island nation, Trade and Food Safety [...]
The gross micro loans portfolio grew 20 per cent to Rs 3.16 lakh crore in the quarter ended December 2022 as compared to the year-ago period, a report said on Friday. The gross loan portfolio growth came at 5.5 per cent when compared to the September quarter, according to the report by credit information company [...]
The central government's fiscal deficit touched 82.8 per cent of the full-year target at the end of February due to higher expenses and lower revenue realisations, according to official data released on Friday. In actual terms, the fiscal deficit or gap between the expenditure and revenue collection during April-February period stood at Rs 14.53 lakh [...]
Dalal Street investors became poorer by Rs 5.86 lakh crore in 2022-23 fiscal as the equity market faced a tough time in view of plenty of negative triggers such as high inflation, geopolitical conflicts and higher interest rates. The domestic stock market encountered many headwinds this fiscal such as high inflation, the Russia-Ukraine war, higher [...]
The government on Friday raised interest rates on most post office saving schemes by up to 0.7 per cent for the April-June 2023 quarter in line with the firming of interest rates in the economy. While the interest rates for popular PPF and savings deposits have been retained at 7.1 per cent and 4 per [...]
Cash-strapped Pakistan has received a rollover loan of USD 2 billion that matured last week from its "all-weather ally" China, finance minister Ishaq Dar said on Friday, a move that will help Islamabad secure the much-required bailout from the IMF. The rollover is one of the key requirements for Pakistan meeting its external financing needed [...]
Production of eight infrastructure sectors recorded an almost flat growth rate of 6 per cent in February as against 5.9 per cent in the same month last year, according to official data released on Friday. The output of core sectors had increased by 8.9 per cent in January 2023. Barring crude oil, all the segments [...]
