The foreign exchange reserves, held by the State Bank of Pakistan, rose $31 million to $12.08 billion in the week ended December 13, 2024, according to data released by the central bank on Thursday. With the fresh increase, Pakistan's total liquid foreign currency reserves reached $16.63 billion, reflecting the country's improving financial position that provided around three months of import c
Oil prices rose slightly on Thursday, supported by falling US crude inventories, though gains were limited after the US Federal Reserve signalled it would slow the pace of interest rate cuts in 2025, a move that could dampen economic growth, reduce fuel demand and strengthen the dollar. Brent crude futures rose 44 cents, or 0.60% to $73.83 a barrel by 1414 GMT. US West Texas Intermediate (WTI)
The cabinet has given the go-ahead for signing revised agreements with eight bagasse-based independent power producers (IPPs), owned by the ruling elite and political barons. According to the revised agreements, the IPPs will reduce their working capital component of tariff by 50% with effect from October 31, 2024. These agreements are estimated to lead to savings of Rs238 billion when opera
Pakistan Horticulture Development and Export Company (PHDEC) conducted a webinar on "Good Agricultural Practices of Olive for High Yield and Good Quality". Pakistan, which has a large area of land suitable for growing olive trees, has been producing olive since 2010. Currently, it produces about 861 tons of table olive per year, all of which is consumed domestically. Pakistan has set a targe
Meezan Bank customers are facing a surge in unauthorised transactions, with reports circulating on social media about debit and credit cards being charged on various websites without consent. In response, Meezan Bank has issued a customer advisory, advising them to avoid untrusted websites, refrain from using public Wi-Fi for banking transactions, and remain vigilant against phishing attempts.