Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $118 million to $10.332 billion for the period ending on May 2, announced the central bank, without disclosing the source of this inflow. Bankers believe the rise was due to the SBP’s buying of dollars from the interbank market. It has a target of $14bn by the end of this fiscal year on June 30. The country’s ove
Bitcoin topped $100,000 on Thursday for the first time since early February, bolstered by a wide-ranging deal between the United States and the United Kingdom in a sign that perhaps President Donald Trump’s trade war with the rest of the world is easing. By midday, bitcoin was trading at $101,329.97, a 4.7% gain on the day. The world’s biggest cryptocurrency has clawed its way back into positiv
Pakistan’s export of services grew 9.85 per cent to $6.24 billion in the first nine months of 2024-25 from $5.68bn a year ago, driven by a surge in demand for telecommunication, computer, and information services. Services exports have seen positive growth since February 2024. However, there was a 6.50pc decline in August 2024. In rupee terms, the exports improved by 7.41pc to Rs1.734 trilli
The International Monetary Fund (IMF) is set to meet on Friday to approve the immediate disbursement of about $1 billion to Pakistan under the ongoing Extended Fund Facility and allow an additional arrangement for the $1.3bn Resilience and Sustainability Facility (RSF). In a statement on Thursday, the IMF announced that the board meeting for the first EFF review and RSF is scheduled for Frid
Wars are about grief and valour and more often than not also about hard-nosed business. Seeing the glitter of gold in India’s nationalist frenzy, four Indian entities applied for the trademark ‘Operation Sindoor’, among them Reliance Industries. On Thursday, according to The Hindu, Reliance Industries withdrew its application for the term ‘Operation Sindoor’. It explained that the application w