The State Bank of Pakistan’s (SBP) foreign exchange reserves rose further by $131 million to $11.418 billion during the week ended on Nov 22, announced the central bank on Thursday. With the beginning of FY25, the SBP reserves have been increasing each month reflecting both the inflows and dollar buying by the central bank from the currency market. The details showed that the SBP’s reserves
The city managers on Thursday decided to involve Pakistan’s missions abroad and embassies to attract investors for the auction of plots for two five-star hotels next month. A meeting, which was chaired by CDA Chief Muhammad Ali Randhawa, decided to approach the federal government to engage Pakistani missions and embassies to attract investors to make the auction of two five-star hotel plots suc
Opec+ is discussing postponing its oil output hike due to start in January for the first quarter of 2025, Opec+ sources told Reuters on Thursday, and will hold further talks on this and other options ahead of its delayed policy meeting on Dec 5. Issues that need to be addressed include an output hike for the UAE agreed in June this year that’s scheduled to start in January 2025, two of the sour
The Asian Development Bank has agreed to provide technical assistance to Pakistan and three other regional countries in advancing climate-smart urban development. The ADB assistance to Pakistan, Bangladesh, India and Uzbekistan will be provided in climate-informed urban development planning, identifying climate change investments, and exploring innovative climate financing solutions for scali
The Pakistan Carpet Manufacturers and Exporters Association (PCMEA) has called for reduction in customs duties as the levies are “adversely impacting the sector’s ability to survive”. A PCMEA delegation, led by Abdul Malik, presented the demands at a meeting with Commerce Minister Jam Kamal Khan on Thursday, according to a press release. The delegation apprised the minister about the hurdles