Pakistan has revised up its economic growth rate for 2020-21 to 5.37 per cent from 3.9pc, Planning and Development Minister Asad Umar said on Thursday. “The growth in 2020-21 was 5.37pc,” he said in a tweet, adding that the National Accounts Committee (NAC), a government body that reviews the economic indicators, had approved the revised مزید پڑھیں

Brent crude prices hit their highest level in more than seven years on Tuesday on growing demand optimism, easing concerns about the Omicron Covid variant and geopolitical tensions. The contract hit $86.84 in Asian trade, a level not seen since late October 2014. Brent crude futures rose 85 cents, or 1%, to $87.33 a barrel مزید پڑھیں

In line with the international market, the gold price in Pakistan extended gains on Monday despite a recovery in the Pakistani rupee. The price of precious commodity rose by Rs50 per tola and Rs42 per 10 grams to settle at Rs125,200 and Rs107,338, respectively. Cumulatively, the safe-haven asset had lost Rs1,050 per tola during the مزید پڑھیں

The Director General Federal Investigation Agency (FIA) revealed that currently there is no law or regulatory framework for cryptocurrencies in the country. DG FIA Sanaullah Abbasi said that there was no section of law available in PECA-2016, FERA-1947 and AMLA-2010 regarding illegal and misuse of cryptocurrency. There was no regulatory framework for the virtual asset مزید پڑھیں

The government on Saturday announced a Rs3.01 increase in the price of petrol owing to the rising petroleum prices in the international market. According to a notification by the Finance Division, besides petrol, an increase in other petroleum products will also be enforced starting January 16. Petrol, with the Rs3.01 increase, will now cost Rs147.83 مزید پڑھیں

Global growth will “decelerate markedly” this year, but the Omicron variant of Covid-19 that is spreading rapidly worldwide could make the situation worse and exacerbate labor shortages and supply chain snarls, the World Bank warned on Tuesday. In its latest Global Economic Prospects report, the Washington-based development lender cut its forecast for world economic growth مزید پڑھیں

Emerging economies should get ready for US loan fee climbs, the International Monetary Fund said, cautioning that quicker than anticipated Federal Reserve moves could shake monetary business sectors and trigger capital outpourings and cash deterioration abroad. In a blog published Monday, the IMF said it expected robust US growth to continue, with inflation likely to moderate مزید پڑھیں

State Bank Governor Reza Baqir believes the country has the capacity and financial cushion to ride out rising external account pressures being driven by a surge in global commodity prices. The pressure should ease soon as central banks around the world tighten monetary policy, which is likely to curb rebounding global demand, he said. “What مزید پڑھیں

The Pakistan Stock Exchange (PSX) started the new year with renewed optimism, led by heavy foreign buying, particularly in the technology sector. As a result, it gained 1.68% or 750 points, pushing up the benchmark KSE-100 index to 45,345.65 points over the past week. Much-needed clarity about the supplementary finance bill and renewed expectations about مزید پڑھیں

Oil prices lost ground on Thursday, falling more than $1 a barrel from their highest levels in more than a month after US fuel stockpiles surged amid declining demand. The global benchmark Brent crude futures fell $1.12, or 1.40%, to $79.68 a barrel, as of 04:23 GMT. US West Texas Intermediate (WTI) crude futures lost مزید پڑھیں