The Pakistani rupee saw a slight gain against the US dollar, appreciating 0.08% during Tuesday’s opening hours of trading in the inter-bank market. At 10am, the currency was hovering at 281.03, a gain of Re0.22 against the greenback. On Monday, the local unit closed at 281.25. Internationally, the Japanese yen weakened to a two-month low against the US dollar on Tuesday as attention in Ja
Hub Power Company Limited (HUBCO), Pakistan’s largest independent power producer (IPP), is exploring multiple options for its 1,100-acre base plant at Hub, including the establishment of an aluminium smelter and a Single Point Mooring (SPM) facility. Topline Securities, which attended the management meeting of HUBCO, shared the development in its report on Tuesday. During the meeting, HUBCO
Further policy rate cuts by the State Bank of Pakistan (SBP) will be determined by the economic fallout from recent floods and the outcome of the ongoing International Monetary Fund (IMF) review, said Governor SBP Jameel Ahmad in an interview with Bloomberg. The development came as the central bank maintains a cautious stance on monetary policy amid renewed inflation risks. As per the report
Chinese smartphone giant Xiaomi is deepening its global strategy by partnering with Europe’s Leica - known for producing high-quality cameras - and America’s Google Gemini, an artificial intelligence (AI) assistant. Industry experts describe the move as an effort to strengthen its “challenger” status in the global smartphone market. During the launch of the new Xiaomi 15T series, Terrence Xiao,
Pakistan’s economy is projected to grow modestly by 2.6% in FY2025-26, as catastrophic floods weigh on agricultural output and inflation pressures resurface, noted the latest World Bank economic report on the Middle East, North Africa, Afghanistan & Pakistan (MENAAP) on Tuesday. “In Pakistan, real GDP at factor cost is expected to have grown by 2.7% year-on-year in FY 2024/25, slightly above FY