Exports increase by 22.45 percent to Rs.1.27 trillion
The exports from the country in rupee term witnessed an increase of 22.45 percent during the first two months of current fiscal year as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported. Exports during July-August (2023-24) were recorded at Rs.1,276,238 million as against Rs.1,042,226 million during the corresponding period…
Adil Aziz
Oil inches higher on supply concerns
OIL prices inched higher on Monday, buoyed by forecasts of a widening supply deficit in the fourth quarter after Saudi Arabia and Russia extended cuts and on optimism of a demand recovery in China, the world’s top crude importer. Brent crude futures rose 5 cents, or 0.1 per cent, to US$93.98 a barrel by 0027…
Tractor production increase 6.52% in Jul-Aug
The production of farm tractors in the country witnessed an increase of 6.52 percent to 6,189 units during the first two months of the financial year 2023-24, against the production of 5,810 units during the same months last year 2022-23. During July-August, the production of trucks witnessed a decreasing trend as it went down from…
Ufone 4G launches end-to-end Digital Lifestyle Experience
Pakistani mobile operator, Ufone 4G has started transforming its flagship joint shops nationwide to Digital Lifestyle Experience Shops, aimed at delivering an end-to-end digital lifestyle experience to its customers. The joint shops are being equipped to provide a comprehensive suite of world-class services, including a wide range of handsets, internet devices, repair & maintenance, exclusive…
Apple to provide iPhone 12 software update in France to settle radiation row
APPLE said on Friday (Sep 15) it would issue a software update for iPhone 12 users in France, in what seemed to offer a way out of a row with French regulators which had ordered the suspension of the phone’s sale due to breaches of radiation exposure limits. “We will issue a software update for…
Torkham Border reopened after closure of ten days
After a successful round of dialogue between the Pakistani and Afghan authorities, the Torkham Border which remained closed for 10 days, was reopened on Friday. Border sources said pedestrian crossing at the border has started as hundreds of Afghans willing to cross into Afghanistan have reached the Torkham Immigration Section at the border. The Customs…
Maersk unveils world’s first bio-methanol container ship
DANISH shipping giant Maersk on Thursday (Sep 14) launched the world’s first container ship running on bio-methanol, a key step in its effort to lower its huge carbon footprint. Maersk, which sold its oil division to Total Energies in 2017, has set out a target to become carbon neutral by 2040. European Commission head Ursula von…
Oil rises to highest in 2023 on tight supply expectations
OIL prices climbed on Thursday to their highest this year, as expectations of tighter supply outweighed worries about weaker economic growth and rising US crude inventories. Brent crude rose US$1.82, or 1.98 per cent, to settle at US$93.70, after touching US$93.89, its highest since November 2022. US West Texas Intermediate crude (WTI) gained US$1.64, or 1.85…
Sindh Excise, Taxation, & Narcotics Control Department joins PSW
Pakistan Single Window (PSW) and the Sindh Excise, Taxation & Narcotics Control (ET&NC) Department have signed a Memorandum of Understanding (MOU) following the integration of the Sindh ET&NC Department with the PSW. Sindh ET&NC services such as collection of the Sindh Infrastructure Development Cess (SIDC), submission of applications/requests for SIDC exemption/waiver, recording of Bank Guarantees…
Pakistan’s total liquid foreign reserves reach near $ 13.1 billion
The total liquid foreign reserves of Pakistan reach US$ 13,079.1 million while reserves held by the central bank stood at $ 7,638.9 million. The State Bank of Pakistan, in a statement issued, informed that SBP’s reserves decreased by $ 140 million to US$ 7,638.9 million on account of debt repayments during the week ended on…