A local pharmaceutical company has reached an agreement with an American company for the manufacturing of HIV drugs. According to a notice issued to the Pakistan Stock Exchange (PSX) on Thursday, Ferozsons Laboratories Ltd (Ferozsons) has entered into a non-exclusive voluntary licence agreement with Gilead Sciences Ireland UC, a US-based biopharmaceutical company for the manufacture and sale o
Services exports shrank year-on-year by 6.51 per cent to $619.73 million in August, the Pakistan Bureau of Statistics said on Thursday. The exports contracted following six consecutive months of increase driven by a surge in information technology. The services export posted a negative growth of 2.08pc on a month-on-month basis. In rupee terms, exports also recorded a negative growth of 11.3
Local cement sales dipped 18 per cent year-on-year to 2.65 million tonnes in September, plunging to 2017 level due to surging prices driven by irrational taxation and construction slowdown, said All Pakistan Cement Manufacturers Association (APCMA). However, exports swelled by 71.52pc to to 978,871 tonnes compared to 570,692 tonnes in September 2023. An APCMA spokesperson said this is the fo
Oil prices rose on Thursday with all eyes on key producing countries in the Middle East and mounting concerns that a widening regional conflict could pose a threat to global crude flows. Brent crude futures were up $3.59, or 4.86 per cent, at $77.49 a barrel by 1:08 p.m. EDT. US West Texas Intermediate crude futures rose $3.58, or 5.11pc, to $73.68. Meanwhile, US gasoline futures gained more
The local textile industry is bracing for a financial crisis in the form of costlier cotton imports due to a sharp decline in the domestic production, with the output unlikely to exceed five million bales this year. According to figures released by the Pakistan Cotton Ginners Association (PCGA) on Thursday, total cotton arrivals at ginning factories as of Sept 30 stand at 2.039 million bales —