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
The Punjab government on Monday took a U-turn on its consideration to acquire Pakistan International Airlines (PIA), while Khyber Pakhtunkhwa (KP) Chief Minister Ali Amin Gandapur decided to go ahead with a plan to outbid the current offer of Rs10 billion by the Blue World City consortium. The much-anticipated privatisation of PIA hit a standstill last week as the only bid fell Rs75bn short of
Higher foreign inflows are expected this month as the remittances crossed $3 billion in October, while the State Bank of Pakistan (SBP) expects $500 million from the Asian Development Bank (ADB) this week. In a briefing with the analysts and researchers after the announcement of the monetary policy on Monday, SBP Governor Jameel Ahmed disclosed that the remittances in October had crossed the $3