The idea of forgiving debt held by poor countries in exchange for “green” investments gained ground this week during the spring meetings of the IMF and World Bank, with concrete proposals expected in time for a global climate summit this fall.Low-income countries face a double crisis — they are under pressure to pay down their debt […]
Continue Reading
KARACHI: The Pakistan rupee strengthened by 23 paisas against the United States (US) dollar at the start of today’s trading, hitting a 22-month high. At the beginning of today’s trade, the Pakistani rupee gained 23 paisas against the US dollar, reaching a 22-month high. The local currency is currently selling at Rs152.95 against the US […]
Continue Reading
Pakistan’s economic growth rate will stay at 1.5 percent in 2021, says the World Economic Outlook Report released by the International Monetary Fund (IMF) on Tuesday. The revised 3 percent GDP growth forecast released a few days ago by the State Bank of Pakistan contrasts sharply with the 1.5 percent growth prognosis by the IMF. […]
Continue Reading
Reading Time: 2 Minutes Prime Minister Imran Khan’s visit to Gilgit-Baltistan to announce the historic GB Integrated Development Plan has been postponed. His day-long visit has been delayed due to bad weather. The development package includes clean energy, transport, communication, health, infrastructure, water supply, sanitation, and tourism sector schemes for the region. With 3G and 4G internet […]
Continue Reading
SINGAPORE: Oil prices rose for a second straight session on Thursday, as the possibility that OPEC+ producers might decide against increasing output at a key meeting later in the day lent support alongside a drop in U.S. fuel inventories.Brent crude futures added 27 cents, or 0.4%, to $64.34 a barrel, as of 0308 GMT, after […]
Continue Reading
New York state authorities said they reached an agreement to shut down activities of two cryptocurrency trading platforms which hid an estimated $850 million in losses. State Attorney General Letitia James said the agreements this week with Bitfinex and Tether would end all trading activity with New Yorkers and require penalties totaling $18.5 million. James’s […]
Continue Reading
The KSE-100 Index closed 2020 at 43,755.33 after a turbulent year during which it had plunged to 27,228.80 on March 25. It started with the index at 40,735.80 as the year’s first session began on January 1, 2020 as it surged to the level of 43,218.67 on January 13. But then came a southward movement […]
Continue Reading
The World Economic Forum said Monday the coronavirus pandemic had forced it to move next year’s summit from Switzerland to Singapore, where it will be held in person from May 13-16. The annual gathering of the world’s political, economic and business elite traditionally takes place in January against the idyllic snowy backdrop of the Alpine village of Davos. But it had […]
Continue Reading
KARACHI: A single tola of 24-karat gold in Pakistan was sold at Rs109,200 on Tuesday at the closing of the bullion market after the precious metal’s price increased by Rs350 during the intra-day trading. According to the local market, the gold rate in Pakistan as of December 1, 2020, is Rs. 109,200. The price per […]
Continue Reading
KARACHI: The per tola gold price witnessed an increase of Rs100 to Rs112,600 in the domestic market on Monday.Likewise, the rate of 10-gram gold increased by Rs84 to Rs96534, according to the All Pakistan Jewelers Association. Meanwhile, the prices of the precious yellow metal in the international market rose by $4 per ounce to $1892.Gold […]
Continue Reading