Bitcoin fell by as much as 6.5 per cent on Tuesday, on track for its largest one-day drop in two weeks, as a wave of selling hit cryptocurrencies and other risk assets, such as stocks. The price was last down 5.86pc at $63,419, having dropped to a two-week low of $62,966, while ether fell 6.39pc to $3,283. Bitcoin is still showing a 52pc gain for the year so far, as investors have piled int
ISLAMABAD: Exports of non-textile value-added products registered a year-on-year growth of 0.47 per cent in the first eight months of the current fiscal year, a healthy sign of getting more orders from the international market. The non-textile products exports did not include the export value of food products during the period under review. In absolute terms, the value of non-textile product
The current account posted a surplus in February, contrary to the preceding month, raising hopes that the government would achieve the current deficit target for fiscal year FY24. According to data released by the State Bank on Tuesday, the current account was $128 million in surplus last month, compared to a deficit of $303m in January and a deficit of $50m in Feb 2023. The State Bank, in i
The International Monetary Fund (IMF) has reached a Staff-Level Agreement (SLA) with Pakistan on the final review of a $3 billion bailout, where the country will receive $1.1 billion after approval from the Fund’s Executive Board, the lender said on Wednesday. The funds are the final tranche of a $3bn last-gasp rescue package Pakistan had secured last summer, which averted a sovereign debt defa
ISLAMABAD: With massive system losses of 14.5 per cent, the Oil and Gas Regulatory Authority (Ogra) on Wednesday notified up to 2.75pc increase in the sale price of Regasified Liquified Natural Gas (RLNG) for two Sui gas companies — SSGCL and SNGPL — for the current month with effect from March 1 owing to higher international prices. This is the first price increase after a gap of two consecuti