Businessmen on Monday appeared unsatisfied with the 250 basis points cut in interest rate by the State Bank of Pakistan (SBP), terming the move not in line with receding inflation and urged the policy rate either should have been lowered by 500-700bps or be brought down to a single digit. In contrast, representative bodies of foreign multinational companies offer a moderate view. For example, t
Domestic cement sales continued to face a downward trend owing to slowdown in construction activities, with dispatches during October and the July-October period shrinking by 0.49 per cent and 15pc, respectively, compared to the same period last year. According to data released by the All Pakistan Cement Manufacturers Association (APCMA), cement dispatches last month were 3.276 million tonne
The export of services recorded a growth of 5.77 per cent to $1.91 billion in the first quarter of the current fiscal year (July-September) against $1.80bn over the corresponding months last year, the Pakistan Bureau of Statistics said on Monday. The export of services turned into positive in September following two consecutive months of decline. The growth was mainly driven by a surge in infor
Oil prices climbed nearly 3 per cent on Monday on Opec+’s decision to delay plans to increase output by a month, while the market braced for a critical week in which Americans will elect a new president. Brent futures were up $2.05, or 2.8pc, at $75.15 a barrel by 12:50pm ET (1750 GMT). US West Texas Intermediate (WTI) crude rose $2.09, or 3pc, to $71.56. On Sunday, Opec+ said it would exten
Oil prices climbed nearly 3 per cent on Monday on Opec+’s decision to delay plans to increase output by a month, while the market braced for a critical week in which Americans will elect a new president. Brent futures were up $2.05, or 2.8pc, at $75.15 a barrel by 12:50pm ET (1750 GMT). US West Texas Intermediate (WTI) crude rose $2.09, or 3pc, to $71.56. On Sunday, Opec+ said it would exten